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maria: welcome back. good thursday morning, everybody. thanks very much for joining us this morning. i'm maria bartiromo. i hope you're having a good thursday morning. it's thursday, march 21, 7:00 a.m. on the east coast. time for the hot topic of the hour. ron desantis is warning the next stop for haitian migrants may be martha's vineyard. florida is getting slammed with an influx of migrants from haiti which has been overrun by gangs. nearly 200,000 immigration court cases were tossed because the department of homeland security failed to file notice to appear paperwork. the lack of paperwork hindering the agency's process of catching and deporting illegal migrants. michael, your thoughts? >> you know, unfortunately, this is not necessarily new issue for

this country. we've never put the money and resources into the process. i have a federal immigration judge that lives down the block for me. he said for years that we can take people into the court, we can verify they need to be deported and we don't have the resources to move them forward and now you get the department of homeland security who doesn't file the right paperwork. this is about are you going to put the resources in the system. we all focus on the wall. there is so much more in addition to that, that needs to be done, and yet congress is not doing that because there's no votes at the border. that's been the problem. now other cities are experiencing this as well, maybe we'll get movement in congress and actually invest into the immigration system. maria: every state is affected by all of this illegal migration, mark. now you've got haiti and the high grants there because of the gangs flooding florida on top of everything at the southern border. >> in texas with their

immigration law, at least for the time being they're able to enforce it. mexico has said they are unwilling to take any of those migrants back from texas. they'll only take them back from the federal government. which leads me to believe that our government is in cahoots with mexico on this whole thing which is insane in and of itself. maria: it is. i want to touch on the squatter story. the new york post is reporting a suspected squatter who you allegedly took over $1 million mansion in queens is now subletting the place. okay. there's a part in the house that he says he's going to rent out. he's subletting it. progressive squatter laws block new york city officials from kicking the people out once they inhabited the residence for more than 30 days. this is insanity. >> this is part of the invasion. illegal migrants have more rights than american citizens. we're seeing it time and time again with the biden administration. this is deliberate, this is part of their plan to create a nation

where we are no longer americans and also to create voters. we know it's about the census, increasing the democrat vote. this is deliberate again because they need those votes. maria: that's incredible. what happened to breaking and entering laws? how is it mobl possible that sqs are able to take over someone's home? >> you have adverse possession. after 10 years of notorious possession. here in the city, after 30 days you can stay there. it turns the law on its head and really you talk about the basic fundamentals of property rights. this reminds me of being in a communist state where you don't own your own property. this is for the benefit of the society. who put the money up to buy the house? where did a that go? this is a really untenable situation. maria: i feel like we're losing the country, i swear. it's so sick. >> it doesn't help when you continue to reward bad behavior and bad decisions like when we

talk about the student loan debt being written off. so that's just something that we continue to do and it makes no sense but with regards to what's going on with these squaters, some of these squaters aren't migrants. they're american citizens who are deciding that they're going to act in my opinion and do something criminally and steal a house from somebody else. maria: they're getting away with it. >> i know. it's anti-constitutional. the fifth amendment protects life, liberty and property from being unjustly taken without due process. we're allowing property to be taken. now, i have heard of a work-around here. i don't think many people have been talking about it but apparently if you own the house, you can write a lease to yourself and then outsquat the squatters. maria: write a lease to yourself. >> write a lease with yourself and then try to out-squat the squaters because you're the new squatter coming in.

>> what about the rules of trespass? maria: and by the way, the owner of that home where the squatter came in and took over, apparently the owner was arrested. i saw a picture of her, she was in handcuffs. >> you arrest the good guys, you no longer prosecute criminals, you let them out with no cash bail. we are in a downward spiral. if we don't get law and order going on in this country, we're in deep trouble. maria: that's what i just said. i agree with you. new york city's comptroller in hot water for saying all the migrants in the city should get free lawyers paid for by taxpayers. he said it would boost the economy. he said gaining lawful status opens doors to more immigrants opening bank accounts, buying homes and st start businesses wh help grow the economy. legal citizens are supposed to pay up taxpayer dollars to get till legals lawyers and they just broke the law, coming in.

>> this is gaslighting with the rhetoric here. they claim it will help the economy. eric adams said it would cost the new york taxpayer $10 billion. in our country it's $150 billion that we're out with respect to paying for the migrants so it's really -- this claim is really unfounded and it's just another way to promote these ridiculous policies which are causing the degradation of society and our country. maria: isn't it interesting that as soon as eric adams opens his mouth about the illegal migrants in his city and causing all this costs for him and his budget, suddenly then gets targeted by the federal government, that he may have done something wrong with his relationships in turkey. it i was okay for a lot of years until he opened his mouth about the border. >> you have to wonder about the timing of the procedures going on against the mayor, even recent allegations from many, many years ago and a just it's the timing that's suspicious. these have been out there for a

long time. they come out right now? that's the weird thing. maria: and the border, your thoughts? >> fred lander, when he talks about the fact you're going to get authorized status, what about the i-9? you fill out a verification that you're a foreigner who can work in the country? what's he going to do about that program? suddenly he's going to wave a magic wand and yeah, we'll have attorneys and suddenly the i-9 program doesn't matter. >> you need tax dollars from those people. the high income people are leaving the state. that's why their doing it. maria: they need the money. we are just getting started. up next, the federal reserve leaves interest rates unchanged, jay powell expects three more rate cuts, however, three rate cuts in total to come this year as some of wall street say we won't see a rate cut until july at the earliest. we're talking about it with the word on wall street panel coming up right here. you're watching "mornings with maria" live on fox business.

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legs further? >> in my view, the federal reserve is really trying to thread the needle with respect to a soft landing. history suggests it's not going to be that easy. think back to 1970s, the last time the fed cut interest rates prior to hitting the inflation target. that brought on double digit inflation. they raised the target rate to 20%. with we think 5 and a quarter percent is restrictive. that killed inflation. that brought on a recession. that's what the feds is trying to balance here. i don't think we're out of the woods just yet. that's why they're forecasting 75 basis points in rate cuts over the next three years prior to getting their inflation target back to 2%. by their own projections inflation doesn't come to 2% until 2026. they're more concerned with the poeen shale recession than they are with inflation staying above 2%. maria: he communicated three cuts yesterday. the 10 year treasury yield is at 4.236%, that's down almost 4 basis points after the fed left

rates unchanged. the fifth consecutive meeting. it also raised its gdp and inflation outlook for the year on stronger economic growth but projected three rate cuts this year. chairman powell said rates will not return however to the lowest levels that they were as you just pointed out. watch this from yesterday. >> our policy rate is likely at its peak for this tightening cycle and that if the economy evolves broadly as exacted, it will likely be appropriate to begin dialing back policy restraint at some point, rates won't go back down to the very low levels we saw, long run rates at or below zero in some cases. i don't see rates going back down to that level but i think there's tremendous uncertainty around that. i don't knowing we know whether this is a bump on the road or something more. maria: so you're saying 75 basis points in cuts over three years, do you expect the cuts to begin this year? >> no, 75 basis points in cuts in each of the next three years.

maria: that is a lot of -- that's what i was questioning earlier. >> that's what they're forecasting. maria: that seems aggressive to me, what about you. >> it does. rates are at a 20 year high. if they cut three times this year, they're at a 17 year high. so rates are going to stay higher for longer. after the full next three years providing inflation continues to moderate, that's a great opportunity for both stocks and bonds in fact inflation does come down and they start cutting interest rates to that extent. maria: three cuts for the next couple years, mark. >> yeah. i could see three over the next few years. yeah. but -- maria: three every year. >> three each year. maria: that's what you're saying. >> no way, no way. maria: that's why i'm saying i'm not buying it. >> if they end up cutting three times this year which i'm still highly doubtful that happens, i think there's a big long pause after that point where they had may not cut again. i mean, to your point, 87% of the time when there's a high inflation period, there's a second wave of inflation and we've seen the cpi, the month

over monda monthdata, that's stg to tick back up. the latest reading was 0.4% month over month. maria: reddit is going to join the n new york stock exchange, priced the ipo at $34 a share, the first one since 2019, reddit's estimated value at $6.4 billion what do you want to do? would you buy this when it goes public? >> no way. this would be a no touch for mome.if you want to make money h an ipo, you have to get anil location. an allocation. the stock's going to be 50, 1 had hundred% higher potentially which eats into your margin of safety but you look at a company leak this, last year $800 million of revenue, $940 million of expenses. it's an unprofitable company which isn't all that uncommon

for tech ipos but they're unprofitable and their big idea on how to become profitable is, listen to this one, advertising. as if that's a big idea. the interesting thing is they're really focusing on this push for advertising dollars, at the same point in time where twitter/x is backing away from advertisers and moving more towards a subscription model. instagram just rolled out a subscription model, so, look, it seems like the social media companies are actually backing off a little bit from advertisers and trying to generate revenues in other ways. however, maria, when you look at a stock like this, remember, this is where the wall street bets message board users come from, reddit. you remember what they did to game stop, remember what they did to amc? this is the wild west. this stock could triple today if they all decide that they are going to buy it. maria: you don't want to buy it after the first day of a triple. >> exactly. maria: give me a break.

where do you want to put money right now? >> there's so much ground breaking innovation taking place in the field of healthcare right now which will no doubt be aided by artificial intelligence. one area that fascinated society right now is obesity. there's two ways to play that, one is through you large cap pharmaceutical companies like eli lilly, but how about a small cap biotech companies like rhythm pharmaceuticals which is developing reams for rare disorders of obesity and other gi related diseases. that's a candidate for a likely m&a activity and i think the pace of m&a activity in small cap biotech is only going to increase over the coffers the year but -- over the course of this year, so look at health kir. healthcare. maria: i've been talking about this one person saying we're going to live for 150 years because we're going to be swapping out different parts like a car. we'll get a new bladder after 50

years, a new liver after 5 of years because of a.i. and technology, the marriage of healthcare and technology we'll continue to put a spotlight on. kevin, good of see you this morning. quick break and then biden family unflense peddling -- influence peddling, it's catching up with the family as a former business associate of hunter biden tells congress about a list of crimes he says the family is guilty of including joe biden. new york congresswoman claudia tenney is here to weigh in on all of that when we come right back. you're watching "mornings with maria" live on fox business. ♪

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>> did you witness the president commit a crime? is it your testimony today -- >> yes. >> and what crime do you -- have you witnessed? >> how much time do i have to go through it. corruption statutes, conspiracy. >> what is the crime, sir? specifically. >> you're obviously not familiar with corruption.

>> excuse me, sir, excuse me, sir, rico is not a crime. it is a category. what is the -- >> the category of crimes that you're charged under -- maria: hunter biden's former business partner, tony bobulinski there in a heated exchange with new york congresswoman alexandria ocasio-cortez during a hearing on the biden family influence peddling probe. bobulinski confirmed that joe biden is, quote, the big guy. that's the reference used in an e-mail where they were deciding who gets how much equity and it said 10% held by h for the big you guy. for a deal with a chinese company. oversight committee chairman james comer said he will invite fieinpresident biden to give his testimony before the committee. joining us now, congresswoman claudia tenney. you would think president biden wants all of this to go away, clear his name, just come out, explain away how come his family

accepted millions of dollars from foreign companies, particularly china and russia and elsewhere, and put this to rest. but we don't know if he would actually do that, congresswoman. >> he probably wouldn't but there would be nothing for glorious than to see alexandria ocasio-cortez try to rehabilitate a stumbling, mumbling joe biden who is so corrupt, i think it would be amazing. i don't know if joe biden would ever show up while he's president of the united states obviously but i think yesterday proved that the links have all been actually made over and over and tony bobulinski really proved that joe biden is indeed the big guy. he committed crimes. he talked about rico, racketeering, talked about violating the foreign agents registration act which was clearly violated by hunter biden as he was using his father as the brand, his father, joe biden, was the brand. he was the instrumental in making all of this fran iforeigninfluence peddling while

president of the united states and the guy you assigned to handle ukraine matters. the democrats need to face their own reality and impeach joe biden. he is competent to stand trial and i think and he should be impeached. maria: what do you yesterday was the main headline in terms of evidence against joe biden. the democrats are saying oh, no, the impeachment inquiry should be dead at this point, joe biden did not do anything. so what specifically do you believe came out of that hearing yesterday that people need to understand about this story? >> first of all, maria, these same democrats who are denying there's evidence of of impeachment are denying we have a crime problem and that the southern border or both of our borders, there's a problem. they're like there's not a problem at the border. they the believe everything the president says and alejandro mayorkas says or let's put it this way. they're repeating what they say. they know in their hearts this

isn't true but when you put the evidence together, all of these facts starting with the ground breaking testimony of the whistleblowers, we wouldn't be here without the whistleblowers and we also -- imagine the evidence we could have if only the department of justice under dirty cop me merrick garland, sw walking and other characters in the department of justice didn't prevent us from getting the evidence we need. we don't have all the documents that we need coming from the national archives, the documents coming from u-penn, the documents coming from delaware, all that would corroborate everything we've already proven. we've proven the case. we are proving it even beyond a reasonable doubt. the democrats are not going to come forward and do this and joe biden's testimony isn't needed but it would certainly be not only would it be great theater, it would also be damning evidence and that's why they're not going to put him out there because right now joe without a filter is going to say all the things he said now and he'll

have to go back to the basement in order to get elected this year. mar.maria: michael, james comer talked about $30 million in money that the biden family accepted. we don't know what they were paid for. what is the service that the biden family provided to accept $30 million from foreign entities, 170 suspicious activity reports and gifts to hunter biden including money for a porsche and two diamonds. apparently the story they're telling us is that hunter biden accepted a diamond from a partner in china and he gave it to james biden and james biden threw it out. okay. >> so how do you normalize that? that's the problem. how do you sit there and say that's okay for a president and the president's family to have all this going on and at the same time they're in office and he's been in office for how long? it's going to come up to 12 years now and a over that entire period of time, because that's the thing people don't focus on. looking at joe biden the last couple months, years, whatever.

no, this has gone on for a long time. maria: you're talking about the time he was vice president. how about when he was a senator, how long do you believe, congresswoman, that this has been going on, influen peddling? >> well, maria, he has been violating classified documents cases or mishandling inappropriately federal crimes for mishandling classified documents for decades as cited by special counsel hur. eggs been engaged in influence peddling for decades, if the we could have all the evidence, we could prove it. if donald trump did one of these things he would be prosecuted. if donald trump actually put in a sort of puffed up, as they claim he did, a puffed up document to prove that mar-a-lago is worth more, an y y sal they claim it -- ap appraise sal they claim is fraudulent,

they would prosecute him. joe biden is committing the crimes as we said in plain sight. there's no doubt joe biden is committing crime. there's no will to prosecute him and the democrats are going to stick together and they won't support an impeachment. maria: that's the thing. >> that's unfortunate on our side. we need to stick together. maria: worse than unfortunate. how about honesty? people don't want to see everything laced with politics. you mentioned trump. latisha james is asking a court to deny trump's claim that securing a $454 million bond for his civil case is a practical impossibility. she's demanding -- she's calling the demand extraordinary and improper. trump reportedly considering allowing the ag to seize manhattan's tr trump tower rathr than paying the bond. >> everything about latisha james and not just the trump case but this is the worst example, she should be disbarred and removed from office.

she violated her oath of office, she is violating her oath as prosecutor she nodes to be need. itit's unconscionable. it's abuse of process, malicious prosecution. what she is trying to do is deny president trump his constitutional rights. she is saying you cannot get an appeal from a case which is required by law, putting in this ridiculously high fine and barrier, like bail. of course, they're not charging any common criminal this type of -- they're not going to require bail from criminals who are robbing, committing rape and other things. they're getting to go free, actually getting to go free and kill people later on. but this is actually really to me, this standard for why you take a prosecutor out for what she's doing to donald trump. and she's done this to other people, in smaller cases. she tried to take out executive

steve mclaughlin who had to go to a jury, spend a fortune on legal fees from latisha james because they don't like his politics. maria: this is when you start questioning whether or not you're in a banana republic. >> definitely. congresswoman, i actually worked with a candidate who ran directly against latisha james, unfortunately he lost and this makes the case for new york as to why we need to elect republicans into office in our state. but basically my question to you is, do you think latisha james will go forward with this, do think she will seize the property and what will be the political ramifications. >> she thinks she lives in a political world. justice is blind. i'm a lawyer. i'm also the daughter of a judge. this judge is also committing judicial misconduct and i've seen judges removed from the bench in new york for much less, maybe making a comment that was askew, not doing what they're doing to president trump. i mean, it is just incredible that she -- it has nothing to do with donald trump. i agree with kevin o'leary.

it's not about donald trump. this is about unequal justice, about lady justice without a blindfold deciding and prosecuting people based on their politics. can you imagine the standard to people on the ground, the average person could be prosecuted by these people. it's outrageous. >> property is not protected. they're confiscating assets. maria: thank you very much for joining me and also for being on this. this is something that is concerning all of us, congresswoman claudia tenney in new york. quick break and then president biden keeps pushing his climate change agenda and republicans are not having it. american petroleum institute president and ceo mike somers is here with his thoughts on the green agenda. you're watching "mornings with maria" on fox business. ♪

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maria: welcome back. well, a man h hunter is underway in idaho right now. >.>> police searching for two suspects after a gunman opened fire on two corrections officers, he was trying to help an inmate escape while being transported back to prison, the inmate serving a 20 year sentence. he's a member of a prison gang. both men are on the run, they are considered armed and dangerous. they were seen in in a honda ci. well, jetblue is cutting five cities from the flight network and reduesing service to others as they try to shore up the

financial footing in the wake of the court ruling that killed the deal with spirit airlines. they are cutting the number of flights to the los angeles area from 34 down to 24 flights a day. changes are going to be in june. right now, the stock is unchanged. and then there is this, planet fitness plunging in the wake that biological men were allowed into women's bathroomses in thee gym. a woman took pictures of a man in a woman's locker room who was shaving. issue first reported in an x account, posting they broke the story of allowing men in women's locker rooms.

hashtag boycott planet fitness. the woman who took the photo, she said a little girl was in the corner, maybe 12 years old and she was, quote, freaked out. the policy at this gym, guys, that anybody can use the locker room, it has to correspond to your gender identity, your choice. >> when are they going to learn, go woke, go broke is a real thing. vanguard and blackrock own 23% of planet fitness. when that's the case, you've got to follow your sergeant's directions and that's why these companies are so oblivious to the go woke, go broke concept. maria: rebecca walser mentioned to me yesterday, somebody walked in saw this woman shaving. >> it's a man. maria: it's a man, shaving. and they sent it online and they took it up and now everyone knows what happened and that caused the selloff in the stock.

>> that's the company policy. maria: what's the policy? >> the company policy apparently is you can use the bathroom that corresponds to your gender i'd identity. your choice. that's the problem. and i like the blackrock angle, by the way. there's other issues they've got. maria: like esg. >> yes. maria: and pushing this whole narrative and by the way it hasn't made investors money. >> it costs five times as much. maria: thanks. great stories today. the biden administration finalizing its crackdown on gas powered vehicles announcing the strictest ever rules for tail pipe emissions, this is where the tone is set right here, the white house. the epa. this new epa rule scales back its proposal from last year, delaying a dramatic book in ev sales until after 2030 but it forces more than half of new car sales to be electronic or hybrid by 2032. ev sales made up less than 8% of total vehicle sales last year. joining me is the president and

ceo of the american petroleum institute, mike sommers. great to see you. thank you for being here. your reaction to the administration's ongoing war with fossil fuels? >> well, the bottom line here, maria, is these are cars that americans don't want and can't afford. the rule that the epa put out yesterday is bad for american consumers. it's bad for american jobs. and it's only goods for china. the american people need to rise up against this rule and reject it. and in fact, they're already voting with their wallets. these cars are staying on lots tremendously longer than a conventional engine and americans are just rejecting these kinds of policies out of the biden administration. maria: krysia, this is why people are questioning whether or not joe biden -- is compromised because of the soft approach to china. this pushes the business to china because batteries are made there. >> this is exactly why donald trump made the speech he did, talking about the blood bath

which everyone was up in arms about but this is the reality. we are being pushed to the point where americans will be losing their jobs, it's america last. and people will ultimately fail because china is the freedom meant power in our world and this strategic and directed by the buy biden administration. maria: the house aiming to debate and vote on six mesh us measuresthis week which go agaie president's energy policy. are they having luck? republicans launched an investigation into the's temporary pause in liquefied natural gas exports, claiming it's a tactic to win over environmentalists before the election. >> we have tremendous energy security they the country. we can produce the oil we need in this country and that means because we now produce 13.3 million barrels of oil every single day, that gives us energy security and energy leadership throughout the world. what this rule does is it

sacrifices that energy security china where most of these rare earth minerals are mined and processed. so this doesn't make any sense from a national security perspective. it certainly doesn't make any sense from an energy leadership perspective. we shouldn't be working to secure our own resources here at home. as you said in the beginning of this segment, only about 8% of the cars sold in this country right now are electric vehicles. in eight short years, this rule proposes that goes to 68%. they means fewer consumer freedoms, loss of american jobs, and, yes, that is a gift to our greatest geopolitical foe, china. maria: unbelievable. michael. >> when you think of the two big ironies, we've gotten to where we want in terms of energy independence which is tied to our national security and yet now we're going to say we're going to take it back and just from a consumer perspective, so we're going to say everybody

buys a car but what about the infrastructure? what about the charging infrastructure? we don't hear about those kind of investments. i mean, that he totally turns the whole consumerism concept on its head, right, mike? >> this is why consumers are rejecting these vehicles, they worry they'll be stranded somewhere without access to power. we need to make sure that we continue to use the internal combustion engine, we need diversity of choices. evs, a lot of consumers want an ev and we should allow consumers to have that choice but consumers should also be able to have the choice of a car that makes sense for their lifestyle. if you live in an urban environment, if you're only commuting 30 miles a day, it might make sense for you to have an ev. for most americans who commute longer than that and are concerned about where they're going to charge up their vehicle, this is a vehicle that just doesn't make sense. consumers he deserve that choice. and the federal government making that choice for them is i

think something that most americans are going to reject. maria: another decision that the federal government is making tore tfor the rest of us and ist interesting, mark tepper, that as they in the administration continue to push back on fossil fuels, oil prices are near records in terms of recent years. take a look at oil this morning, $80. yet it was at 83. the energy information administration reporting that u.s. oil and gas companies spent $234 billion on m&a last year, the most since 2012. >> that will probably pick up this year and next year when there's more interest rate transparency, visibility. but yeah, you look at where oil price today, obviously up quite a bit from where they were when trump was in office. that's a supply and demand issue. that is also -- it's also inflationary and inflation continues to wreak havoc. when you have oil prices that high, that's reflected in pretty much every good we can purchase,

goes all the way through the economy. maria: the cpi last week was hotter than expected, largely because of oil. >> yeah. maria: because mike, isn't that the underlying issue here with inflation, the cost of transportation? >> well, the truth of the matter is, we're going to need more oil and gas into the future and thank goodness for american production. in 2005, 2006 timeframe we were producing only about 5 million barrels of oil a day and that number was going down. and the fact that today that we're now producing over 13 million barrels of oil a day, that is a security blanket against the geopolitical world that we're living in where we have two wars going on, potentially more, if et weren't for american production oil prices would be significantly higher and that should be a point of pride for america. maria: it sure should. from an economic as well as national security perspective. mike, great to get your perspective this morning. thank you, sir. mike sommers joining us this morning. quick break and them reddit

gears up for a big debut on the new york stock exchange today. kelly o'grady with details. >> reporter: good morning, maria. i love a good ipo. we've got reddit on deck, the first big tech company to go public in 2024 and how it performs is going to be a bellwether what we can expect from the market later this year. i'll break it down, all next. ♪

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maria: welcome back. time for the morning buzz. reddit set to join the new york stock exchange today, new ipo, first ma major social media offering for 2024. >> reporter: this is the first major tech company going public in 2024. how reddit performs could be a bell weather. it will be priced at $34 per share. that values the social media company at roughly $6.4 billion. that is still a significant step down from its peak at 10 billion

in 2021. they gave some of their leading users the opportunity to buy stock in a directed share program. redditers are very loyal. they're known for their backlash and revolts, think of the wall street bets folks. you want investors to buy and hold the stock in the situation. we could see volatility. that didn't work well for robinhood. reddit is different from most tech companies looking to ipo. it is not new. it is 19 years old. it is still yet to turn a profit, lost over $90 million last year there's a lot of questions on whether it's worth the risk. >> there's an excitement and enthusiasm, people love ipos, getting in on things early but from a revenue and monetization standpoint, reddit looks like twitter or x to me than it looks like the next meta. >> reporter: the platform has signaled there's a growth opportunity in data licensing, that would be training your chatgpts, large language models on that content.

there's uncertainty around regulation as well as content moderation. as we've seen, what content you train your a.i. on, needs to be accurate. so there's a lot of ex youtube excitement from invest hers. today we get a sense if there's appetite for the next big thing. maria: great point. kelly, thank you. your thoughts, krysia? >> it's ipo to watch. will it be a bellwether, i don't know, because of the points kelly made a because it's an anomaly when it comes to tech stocks. i'm surprised it's not ipoing on the nasdaq. i guess that's the way it shook out. maria: the new york stock exchange. >> it's still big. they've got the business. it's definitely a company that has gotten a lot of attention because of the game stop investors and also we were talking about it before on the break that they're very, very loyal to this company and how that will play out will be a huge factor. maria: mark, you say you wouldn't touch it. >> i t wouldn't. i'm not going to bet against the meme investors with diamond

hands. they'll buy and hold and hold and hold until they decide they all don't want to hold it anymore. i wouldn't want to be on the wrong side of this trade. one of the things that kelly mentioned was integration of a.i. into reddit and just to fill everyone in at home, the a.i. system that they're talking to is google's gemini and we know about all of gemini's biasing issues. so i think that's just something to keep in the back of your mind. that is the a.i. company they're talking to. maria: mark, we've got a rate cut this morning. from switzerland, the swiss national bank unexpected cut the key interest rate by 25 basis points, moving ahead of all the other global central banks. switzerland just cut interest rates. >> it's interesting. yeah. i mean, look, who knows what that means for us, you know, with regards to cutting interest rates. but there's obviously a fine line between making sure your economy is growing and making sure inflation is not too hot. maybe they're in that sweet spot. i don't think we're there yet.

maria: moving ahead of the ecb and the fed, a lot of people circling around june we could get a june cut. >> 80% chance. maria: from ecb, from the fed, the bank of england and there you have swiss national bank this morning cutting interest rates. when we come back, president biden pushing for more financial handout, hillary vaughn is on capitol hill with those details this morning. hillary. >> reporter: good morning, maria. thousands of americans will be waking up this morning with their student loan debt canceled. i'll have all the details on president biden's big anounsment this morning after the break. ♪ in a rocky mountain setting spanning over 280,000 acres. three forks ranch is the destination for luxury and adventure. enjoy fly fishing and america's finest trout stream.

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