Welcome back. Good thursday morning. Thanks very much for joining us this morning. I am maria bartiromo, thursday, august 17, 8 00 a. M. On the button on the east coast hot topic of the hour President Biden democrats celebrating socalled Inflation Reduction Act yesterday at the white house touting Green Energy Push and bidenomics. Mr. President , this is your day. This is your day mr. President introduced the first climate bill in the senate 1986, before i was in congress [laughter] this was amazing effort, to pass one of the great legislative feats of the 20th century 21st century probably 20th too. Financial times in the wall street journal, called my plan bidenomics, i am not sure they meant. Guess what it is working. A a poll Shows Majority americans disagree, 58 say they disapprove of biden handling, 36 americans approve of it mark weve been talking about so he bidenomics last two years what have we got the. A big zero everything that is happening as far as like real wages are below today where we were prepandemic, real savings adjusted for inflation on the bottom 60 earners less in savings today than before the pandemic, before biden took office, and for all of those halfway decent positive Economic Data pretty crystal cooler were getting to where we need to be fueled by debt cards debt hit a trillion dollars maria that is right. A robbing future generations to Economic Growth stock market returns. Maria you pay for that agenda about wants to do so with higher taxes battling Kevin Mccarthy for months, mccarthy wanted more revenue, coming, and he said we want revenue but we want revenue from higher taxes, it was joe biden wanted the revenue. Kevin mccarthy wanted to stop spending or slow it down even joe biden admitted the socalled Inflation Reduction Act does not reduce inflation at all. Here is white house Senior Adviser john podesta yesterday. To stop disasters from getting even worse we have to cut Carbon Pollution driving Climate Crisis what Inflation Reduction Act is all about, it makes largest investment in Clean Energy Climate action in the world, Touching Every sector, power, transportation, buildings, industry, agriculture forestry said should not have named the bill inflation reduction it has less with inflation alternatives that generational Economic Growth aka Climate Change agenda. I have to say ] whispering] i had to when ister in lieu of joe biden ridiculousness. We talk different types of measures into place people just want to see their money, staying in pockets, going to places it should be, on average american households spending 709 dollars more per month like you talked about wages going up with that, seeing more spending at the groceries higher prices gas pump talked Credit Card Debt hitting a trillion dollars Interest Rates going up taxes going up people dont want to spend all money, buying new appliances for their home ranging from washer drier to ovens microwavers electric vehicles this isnt things they want to put money into dont want to spend helping fuel migrant crisisor like i said before in previous hour paying for men to get uterus transplants the American Medical Association trying to get taxpayer funded dollars towards ridiculous surgeries. Maria kra outrageous i was talking with Majorie Taylor greene the other day said given record heat in texas people are using airconditioners more the coolant in your airconditioner, that in 2020 cost 45 dollars for 20 pounds of that refrigerant cool abt today that 20 pounds, 270 bucks, so hot out put a. C. On costing you because of Climate Change agenda. Biden is completely out of touch with reality to claim bidenomics working 58 of public say no, it is not it is ridiculous, audacity to claim that the one traditionaled Credit Card Debt for the very first time in the history, withdrawals from 401 k s up 36 from last year people maxing out credit cards gas prices up 62 home prices up 11 reality hardworking americans deal with on daily basis for joe biden to stand up there say this is working is an insult. Maybe to forgive that debt. Of course, he does one thing he keeps saying in regards to bidenomics he is growing this from to bottomup or middle out i forget how saying it but it is the only people that are better off are the top 40 of income earners not growing from bottomup not working at all he continues to take victory lapse give himself attaboys, when no reason for him to be accepting credit for that i tell you what we will know when we are in recession when he starts blaming everything on trumponomics. How ironic temperaturing everybody pay fair share who didnt just pay their fair share . Hunter biden. So a. Quickly i joke a gen z influencers you politicians focusing on issues they think gen z population wants the economy is biggest concern are in. Maria as everybodys exactly stay with us weve got a lot more coming up on the other side of this break. New projects means new project managers. You need to hire. I need indeed. Indeed you do. 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Call Coventry Direct today at the number on your screen, or visit coventrydirect. Com. Welcome back fullerton County District attorney fani willis requesting march 4 trial date for President Trump 18 other defendants in 2020 election case that date is just one day before what is called super tuesday the busiest day in republican president ial nomination process jack smith is proposing, trumps trial, to be on january 6, that should start in january, 2 of next year before iowa caucus month before nevada South Carolina primaries joining me Nicole Parker great to see you things very much for being here this morning. Thank you so much for having me. We talk all the time your story you left fbi you were special agent saw wind shifting at the fbi whats your thoughts on fbi role in stopping trump . You know, this is a country where we are supposed to have law and order based on fabs fot political persuasion i think we are seeing criminal Justice System weaponized, very strong, aggressive, investigation to those certain political views republican conservative side on opposite end almost get a pass almost a turn blind eye, thank you to whistleblowers from irs and fbi, these are noble brave courageous fbi agents speaking the truth upholding oath to the execution letting American Public know what is actually happening. Maria yeah. The fullerton county clerk of Courts Office admitting to posting Trump Indictment on line hours before a garage actually voted to indict him watch this. I do the work in the system, and, when went it wasnt official document, it wasnt official charges it was a work sample. It was fictitious wasnt real we want to be transient. Calling it fictitious charges same as actual indictment thoughts. That is semantics nothing fictitious about it the same thing other than it didnt have stamps and seals on it to say i did that in error i appreciate honesty but you so eager, to get that posted, you know i wish that all my investigations, that i conducted while fbi agent as aggressive, getting things do even i thought interesting this is a d. A. Not the doj, fbi but seeing it across all criminal Justice Systems they have 11 30 press conference on monday evening what was necessity of that the fact so important that this information was ready to be posted immediately, i know you want to go back to motive to think youve got court of Public Opinion in this country because this is an election that is at stake right now, once in a lifetime when i run cases i want criminal proceedings should be it doesnt seem the case in this instance. A new fox news polls find nearly 40 voters believe Joe Biden Joe biden did something illegal to business details 34 said he did nothing he seriously wrong another says 50 voters say hunter biden did something illegal to foreign business deals, 13 from february, kaylee jump in here the contact is weve got four indictments on President Trump, in the middle of all of this information from the House Oversight committee where we are looking at bank records, that indicate millions of dollars, that joe biden and family took in, to 20 shell companies. Deliberate slowwalking of hunter biden investigation, that has tan years to put together fani willis can ask for six month expedited trial of president give me break, one of the interesting things fani willis said in press conference on monday she refused to answer a question about whether working directly with special counsel jack smith raringed his indictment of former president considering two cases very, very similar in what they are zmoorjdz do you thing there is cooperation between those two offices are if so what is the significance of that. A very important question i was watching that as welling in press conference, look. The answer is no, no i would not then you say no the fact you dont answer is very indicative fbi agent help people answer questions i think also, you know, this this d. A. , and special counsel to say there was no coordination what are chances that there is across the board in all four indictments come one after another four month time frame i can tell you former fbi agent i have charged cases federally in district of florida same defendant in another local jurdz i reached out out of republican to not tip on toe to say say no coordination, in my opinion, i am not buying it the timeliness the prosecution asking for speedy trial a speedy trial ice defendants right as former fbi agent never asking for speedy trial that is defendant right i wanted as much time as possible to prepare for prosecution, yet they are asking lets get this done as soon as possible, because an election coming up my personal opinion, i am tell you you not going to happen this is a voluntary luminous discovery multiple motions filed merndz are smart see this. Why would the d. A. Office and special counsel are all pushing for a speedy trial that is basically unheard of. Maria that is a great point, especially since that is supposed to be what defendant would ask for, nicole lets get back to that point you just made about how voluntary luminous how donning would you xech trying to play out motions, discovery process that is going to come, depositions, et cetera. Can you even consider that you are going to see four trials with all of that within the scope of the year . Before the president ial election . My personal opinion, absolutely not. Let me explain in federal system no depositions, in local and state systems there are depositions, that is 19 defendants that is a lot of defendants my personal opinion that they are trying to get those defendants onboard, as many as they can to force on others expensive legal charges individuals have to pay excessive legal fees you could find a plea agreement lower fees are they cannot afford to be drained with legal fees, the motions multiple cases at once i mean, that would not i just dont see that happening, realistically. Former congressman Byron Donalds said similar to me on the show said the whole strategy here is to bleed trump dry. Of money. So that he is unable to have a competitive stance in this election. Nicole great to get your take on all of this thanks so much. Thank you Nicole Parker joining us quick break how markets are moving after july fed minutes raised red flag on inflation again, ed yardeni is here with his take on the economy and markets, next. You cant buy great conversations or moments that matter, but you can invest in them. At t. Rowe price our strategic investing approach can help you build the future you imagine. T. Rowe price, invest with confidence. So, youve got the power of xfinity at home. Now take it outside with Xfinity Mobile. Like speed . Its the Fastest Mobile Service around. With the best price for two lines of unlimited. Only 30 bucks a line per month. Thats hundreds in savings a year when you wave bye to the other guys. No wonder Xfinity Mobile is one of the Fastest Growing mobile services. You really shouldnt walk out the front door without it. Switch today at xfinitymobile. Com futures gain start of trading this morning dow industrials up 9 nasdaq up 47 s p higher by 10 Federal Reserve released july minutes yesterday, said inflationary risks could be because for further tightening, a majority of members also said that they see upside, to all of this economic pressure. All of that out of the minutes pushed the tenyear treeshz yield to highest he level in 15 years take a look at 10year below 4. 3 , we havent seen that since 2008 join me right now Yardeni Research president ed yardeni thanks very much, your reaction to the back of higher rates . Well, i think there is a danger here if fed keeps talking about he raising Interest Rates, fed remains hawkish, that beyond yields will continue to go up, if they go up thats capital losses, for bondholders, i think the big concern not just the banks portfolios of bonds, but just as important portfolio examine commercial reloans could face more defaults. Oil prices up this morning watching china embattled economy against expectations of tighter supply in the United States you say China Economic payne is a gain for the United States people dont realize how weak that economy is, and the pressures facing china right now can you walk us through it . Right. Look. Treasury focuses on United States should be looking at Global Economy i think should be acknowledging inflation has come down rather dramatically, may very well continue to o moderate one of the reasons inflation has come down is because china is basically in a recession. They have had a huge property bubble that burst. Not 2 first time in global history that weve seen, people put too much speculation into real estate, only to see that blow up. Then take the economy down, that is basically what is happening in china. And as a result china experiencing deflation cpi down, not much but down 0. 3 , ppi Producer Price index is down over 4 . And export prices to the United States are down, so, we may very well be able to get a disinflationary environment without a recession. Thanks partly thanks to china maria interesting that you say this because a lot of fed officials economists, not singing your tune xhie. Polled by reuters began boosting odds after first rate hike march last year rose as high as 65 last fall but coming down, you told us back on this program, in march that, we were already in a recession. Watch in. Right. We actually have been in recession since the beginning of next year i just call it a rolling recession, early last year Mortgage Rates soared signing Family Housing into a severe of recession home prices have not come down much at all because there is a real shortage of housing out there, they are buying binge ended last year weve had a recession retailing similar production of goods next yes, sir recession rolls into commercial real estate, and that is not just Interest Rates it is also Office Buildings that are being vacated because people arent renewing leases. Back in march do you still think we are in a rolling recession . No this actually a few months ago i said lets now talk about a rolling recovery. Maria are okay. I think goods economy starting to recover in retail sales Housing Market has been remarkable, Housing Starts picked up, last month. So i think we are actually starting to see the signs rolling recover the atlanta fed tracking Second Quarter real gdp at over 5 . He amaz