Us. I am maria bartiromo, thursday march 21. Your top stories, 6 00 a. M. On the east coast markets extending the gains after the Federal Reserve left ray unchanged. Markets higher across the board after jay powell said to expect three rate cuts this year and three more over the next two years all three major nbc closed in record territory since the First Time Since november 2021, what a performance with the dow industrial 401 and the nasdaq 202 at the close yesterday. Everything investors are watching. Initial jobless claims in the Philadelphia Fed and ducks at 8 30 a. M. Eastern. European markets are mixed, the eurozone factually higher. The bank of england making this decision we will have that news. In asia overnight markets finished higher with the exception of the shanghai composite, the cosby in korea to win 3 . The biden family influence peddling catching up as a former business associate of hunter biden testifies on capitol hill giving a list of crimes that he said they are guilty of this as House Democrats sweep the growing evidence under the rug, james comer and Vice President biden to testify on the foreign influence peddling as the impeachment investigation is now heating up. Strategic wealth partner mark tepper, gop strategist and cyber expert krysia lenzo and Homeland Security advisor michael balboni. Mornings with maria is like right now. Maria time for the hot topic of hour. James comer has invited President Biden to testify before lawbreakers with his familys influence peddling. He posted this on x demanding more from to explain why his family received tens of millions of dollars from Foreign Companies during the house hearing, the former Business PartnerTony Bobulinski iqs the first sign of lying under oath. Watch. With hunter biden telling the truth when he testified under oath that his father was never involved in any of his business dealings. No he was not visibly lies. Do you know whether the biden family made any money from china. They did millions of dollars. Approximately 8 9000000. I think its over 10 million. Whos the big guy. Joe biden. Are you sure about that. Im a thousand sure. I think its laughable that the democrats are asking the left away and all my credibility a convicted felon. If you keep lying you end up in prison. You are the one who is lying. Maria what a hearing yesterday, what you make of that. It was a lot to take in, Tony Bobulinski has been waiting so long to testify and present all of this evidence pursuant republicans to have there been credible evidence to come forward with hunter biden as a Foreign Agent that lied under oath he perjured himself consistently to hide his families influence peddling schemes and the democrats are doing everything to hide this to not cover the hearing specifically and to go after him claiming about certain laws, the rico act is not really a crime if its not a crime is aoc mentioned why are they going to trump with the case in georgia. Every respect this is an important hearing in the hunter biden could not even show up despite asking for it but clearly Tony Bobulinski is a lot to lose hes an honorable human being and we commend him on everything that he came forward with yesterday. Maria i commend him as well he served this country with honor. James comer talked about 30 million that they identified in money going to the biden family. Bob belinsky said eight or nine or 10 million came from china and comer talked about 170 sars that is the suspicious activity reports and the gift of a porsche and two diamonds to hunter biden from foreigners. Bob belinsky accused hunter under the racketeering influenced and corrupt Organization Act as you mentioned rico this is a federal law targeting or designs crime to take on highranking criminals and expose corruption. Alexandria ocasiocortez was not having it she is getting slammed online after this exchange. Did you witness the president commit a crime, is it your testimony today. What crime have you witn witnessed. How much time do i have to go through it, corruption statute, rico ends conspiracy. What is the crime. Specifically. Youre obviously not familiar with corruption. Excuse me sir, excuse me sir. Rico is not a crime if the category. Is a category of crimes that you are charged of. Maria michael balboni. If i was ever charged god for bid with the rico statute i would think im in big trouble. In trying to normalize this type of behavior, having all the shell corporations, receiving these gifts like that is okay from china. Thats not an influence came from an intelligence perspective, bought and sold, its unbelievable that they take this perspective on this particular situation and what america is looking at, you have all these double standards, theres trumps prosecutions going after him in the same its all good theres nothing to see here, they are not passing the left test. Maria i find that shameful, the democrats were all in on getting trump and taking trump down however, they could in talking about him being a businessman but when we see evidence that this family has accepted money from foreigners and influence peddling they claim theres nothing to see here. Alvin bragg, Letitia James read on getting trump, when it comes to the family they claim theres nothing to see. With Tony Bobulinski, his testimony has been so incredibly consistent over the last four years, one of my biggest takeaways he said that jim biden in 2017 told him that they were going to continue to do their thing and conduct their business because the plausible deniability, that makes it very difficult to play the card that joe biden is an elderly man with poor memory that shows there was mel intent they were aware they were doing things wrong. Maria were just getting started, more dangerous games making their way into the country to President Bidens open border, some migrants learn how to exploit progressive policies. Were getting into, the Federal Reserve leaving Interest Rates unchanged as expected but is forecasting rate cuts to come. Everything that you need to know coming out. Mornings with maria, live on fox business. Stay with us. Sho some things should stand the test of time. 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Take a look at futures and nice rally underway your waking up to gains on wall street down duster of 96 nasdaq up 126 and s p higher six and half on top of the huge day record performer the dow was up 401 points better than 1 , the s p 500 above 5200 for the First Time Ever with a gain of 46 and the nasdaq is up 202 a quarter percent, Interest Rates look at them, the ten year treasury yield pulling back by four and a quarter basis points sitting at a level fourpoint to 33 after the Federal Reserve left Interest Rates unchanged for the fifth consecutive meeting but what they said in the press conference really powered the market the fed raise the gdp and inflation outlook on strong Economic Growth and projected three rate cuts this year, jay powell said the rates will not return to the lowest levels that they were however,. Or policy rate is likely at its peak for this tightening cycle and if the economy evolves broadly as expected it will likely be appropriate to begin dialing back policy restraint at some point rates will back into the low levels that we solve around the world that were rates at her level to 0 in some cases. Noc rates going back down to that level but i think theres tremendous uncertainty around that. I dont think we know if this is a bump on the road or something work. Joining us ahead of u. S. Rates gregory for narrow, what did you hear yesterday. I continue to hear a fed chair that wants to lower rates at some point this year, with a Financial Condition the general moon and i think this is how chair powell manages policy for the fed in both directions were they were tightening and the policy all if you look into thousand 23 in october or november, loose conditions hes had every reason to push back on Market Performance in the First Quarter 2023 and hes not doing it. That tells me hes easing conditions in trying to loosen policy without moving formal rates. At some point i think he will move formal rates lower. Maria after the hot hotter than expected cpi i was thinking the fed would try to communicate dialing back this euphoria of so many rate cuts but thats not what he did at all. What they did do they are still maintaining three cuts this year they taken cuts off the table for the next two years, the higher for longer may come true but not as high. When you look at investors there cheering on where they were yesterday there drinking the fed put rate cut koolaid without a doubt. Yesterday morning the fed funds futures replace about 2. 9 cuts this year. Its up to 3. 4, the fed said three and investors are expecting 3. 4 that shows you how much investors are relying on the rate cuts in history has shown that when you look at rate cuts typically during a positive market does well but as soon as you have the first cut over the next 12 months the market judged on 20 through 24 what you make of that. He same further out the curve and attire for longer and were not going back to 0, the reality we do not know and he said we can find your way back to 0 but i dont think we want to find our way back to 0 but i continue to think a pathway from where we are now even down to 4 in 2025 is saying the economy is doing well we have not had any major blowups or hiccups and its a very low conducive rate environment. With that said the inflation readings he is dismissing january and february. If you look at 2023 we had high prints as their as well. Hes expecting us to get onto the monthly range of 0 to point to. If we get one more round of higher inflation readings i think markets are little vulnerable. Maria im not buying it im not buying three cuts this year. I dont believe it i think the inflation story is still elevated and will see what happens at the next meeting but will hear from the bank of england on the Interest Rate today at 8 00 a. M. Eastern the central bank expected to hold Interest Rates steady at fivepoint to percent. I want to get your take on that. Was missing from the hall conversation is whats happening with the consumers. We never bake into these types of discussions, Credit Card Debt where is it now, the loan defaults, car payments, there is an underpinning of real uncertainty in america and we never talk about that the disconnect between wall street and the individual consumer gets larger and larger. Maria the consumer has done well but the tapping into credit cards and the 401ks. He was asymmetric and i agree i thought what are the interesting things he talked about yesterday and i think this is critical is the employment market and he said it was asymmetric in both directions he thought that they could potentially lower rates. In other words we could continue to produce jobs and have a good labor market but at the same time lower rates and on the flipside if we start to see the consumer crack i think the fed will move very, very quickly which i thought was interesting that was a devilish comment from him. Maria i see the moving quickly but three seems so unlikely. Well see how the economy moves. Great to get your take, gregory for an ally joining us. Your morning mover the chipmaker soaring after putting a double beat on earnings and revenue driven by the a. I. Boom micron is up 17. 5 this morning not and, 793 million and forecast higher revenue for the fiscal Third Quarter the stock is up 60 the last year doing really well. We will keep following the. President biden screen agenda coming for the Auto Industry with a new mandate on electric vehicle sales taxes congressman keith self is here with more on that in the Campaign Promise to reverse all of these regulations. Stay with us, back in a minute. luke this will be a gold mine of local intel. Just you wait. marci right. So, tell us about this corn festival . stylist 1 oooh you got your corn pudding. You got your corn chowder. marci so. Is it safe around here . stylist 2 sometimes. luke if a family of eight were to need a cold plunge, where would they find it . stylist 1 . And then they dip it in butter, then bam, it goes right in. stylist 2 . Really cute vampire bar. stylist 1 the reverend does like a blessing on the corn. luke donut shops. How far from here . marci no eyebrows . luke think of how light itll feel in the summer. Weve got to run. Eleven thousand more neighborhoods to go vo ding dong homesdotcom. Investment opportunities are everywhere you turn. But at t. 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