Transcripts For CNBC The News With Shepard Smith 20220726 :

CNBC The News With Shepard Smith July 26, 2022

The key former trump insider who testified, plus the info from the january 6th committee that relate to donald trump. Its more evidence that he, first of all, set for three hours oing nothing. The First Special legislative session begins to consider more restrictions on abortionheadway today. They travel to canada to apologize for catastrophic abuse of indigenous children. The details pope francis travels to canada to apologize for catastrophic abuse of indigenous children. The detail in the reactions. A survivor of a shooting that killed his family. A fire burning near yosemite. The nfl starts a new streaming service. My from cnbc, the facts, the truth, the news with Shepard Smith. We could learn a lot this week about whats ahead for our economy. Conflicting datathe clearest sign of whats to come. On wednesday, the feds set and d signals about whether we are headed for a recession, but in the coming days, we are expected to get our clearest sign yet of what is to come. The feds are set to meet and determine how much to raise Interest Rates. On thursday, new gdp numbers will show whether the economy grew or shrank over the past three months. And on friday, Consumer Price Inflation Numbers are such a drop. Plus several tech giants will report their earnings this week. All major indicators for the health of the overall economy. The Biden Administration is trying to get ahead of what could be a tough outlook. My hope is we go from this rapid growth to steady growth, and we will see some coming down, but i dont think we wil , god willing, see a recession. I am not saying we will definitely avoid a recession, but i thinep inflation down. Call it what you want, people have been facing red hot inflation for months. According to a recent poll from ofmarketll ameriore ththe alf l can stay strong and bring inflation down. Call it what you want, but people have been facing redhot Inflation Numbers for months. According to a recent poll, more than half of all americans think the country is already in a recession even though gdp numbers do not reflect it. The question is, how does the feds data . It all depends on which version of it shows up this week. Will it be the firebreathing inflation slaying or the one that sees signs inflation is easing or somebody in between . We will know soon enough. Critics point out the same folks who said inflation was transitory, they are all now trying to play optimist on the possibility of a recession. On what exactly does the administrations argument hinge and our economists buying . The big argument from the administration and other optimist is we had a strong jobs market. It is unusual to see an inflation with that rate of 3. 6 but there are signs it is starting to turn. The number of jobless claims last week shot up to the highest since november. The nonrecession camp also argues the consumer is in pretty good shape in the American Express numbers and other data have shown spending is strong, but, inflation is taking a toll and there are signs it is starting to turn. Just this evening, walmart warned investors profits but we were so unexpected, cutting their outlook for the second time this year. Citing inflation, that is hurting demand for general merchandise. The good news is even if we go into a recession, technically, the lack of consumer leverage and indebtedness we have seen it other recessions is why many are thinking that it would be a shallo long recesw on. If weand anot eeing too gnsf recession. If we started seeing signs of recession, what does that do to the fed to tolerate pain in the economy. They are trying to bring . Own th right now, the fund has made it clear that inflation is job number one, and they have signaled they are willing to tolerate some paint in the economy or even a recession to bring down that inflation level. That is why many think they should keep their eye on the ball and keep raising Interest Rates until inflation comes down. But there is a growing school of thought, and this is starting to make its way into the market, but says the fed will pull back or even stop raising rates as the economy deteriorates. The fed does not want to see Unemployment Rate stood up and people losing their jobs and looking for work again. It is thinking that the feds will stop raising Interest Rates at the end of the year, and even starting to think that the feds will cut rates next year. Go the other way to stimulate the economy. It appears it appears the Justice Departments investigation of e departments investigation of the january 6th investigation is expanding and reaching all the way up to the white house. Nbc news has learned that the former Vice President s chief of staff under subpoena and appear before the federal grand jury investigating the attack in d. C. He was with the Vice President at the capital as the riders closed in, many calling for him to be hanged. He is the highest rankinedits g official knowledge of testified before the grand jury. In the meantime, we are learning that former President Trump made some significant edits to that speech he gave to the nation on january 7th, the day after the supporters attacked the capital. To date the january 6th committee released a draft copy of the speech with handwritten notes. You can see that the lines were deleted and condemned the riders and call for their prosecution. All lawbreakers are prosecuted to the fullest extent of the law. We must sendp a clear mescross chunk that said, i am directing the department of justice to enjoy all lawbreakers are prosecuted to the fullest extent of the law. We must send a clear message, not with mercy, with justice. Legal consequences must be swift and firm. The he removed several lines that said, i want to be very clear, you do not represent me. You do not represent the movement. He changes sentence, you belong in jail to you will pay. The Committee Also released more testimony from his closest white house adviser and staffers and that includes the former white House Counsel pat cipollone. He told the committee he wanted mr. Trump to be more forceful in condemning the rioters. In my view, he needed to express, very clearly, that the people who made violent acts and went into the capital, did what they did, should be prosecuted. And should be arrested. Today, President Biden blasted the former president for failing to act and stop the deadly ryan. He met for three hours, the defeated former president of the United States watched it all happen as he sat in the comfort of the private dining room next to the oval office. While he was doing that, brave Law Enforcement offices were subjected to hell for three hours. Dripping in blood and surrounded by carnage. Facetoface with crazed mob that believe the lies of the future present donald trump lack the courage to act. The january 6th Committee Says it will conside house offi clarenceissuing a omas, subpoena to the wife of clarence thomas, if she is not willing to testify voluntarily. Ginni thomas has come under scrutiny for Text Messages she sent to President Trumps chief of staff mark meadows. In them, she questions the results of the 2020 election. The Washington Post reports she sent emails to state lawmakers in arizona, urging them to overturn mr. Trumps election loss there. Lets bring in daniel perry, the former Deputy Attorney general for new york, and, mark short going before the federal grand jury. What does that signal to you . I dont know if i would go so far as to call it a watershed moment but is a turning point. As you pointed out, he is the first insider that we are aware of that has testified before this grand jury. We have heard news reports and we can see an almost real time that some of the hearing testimonof Cassidy Hutchinsony, particularo Cassidy Hutchinson and others, has jolted the Justice Department into action and we have recently seen a flurry of activity, including the seizure of cell phones of some of the president s advisers, and some folks relating to the, quote, unquote, the fake electors who have been issued subpoenas. This is the highest white house official who we are aware of that has testified before the grand jury and we are aware that hes got some devastating information that could be relevant to this criminal probe. Jenny thomas. They are considering a subpoena. Then there is the what f januaryre in 6th committee who has been treading carefully with ginni thomas, but now they are considering a subpoena. What factors into their decisionmaking . I think it is a sliding scale. How informative her testimony will be up against kind of the optical issues, the pr issues, the fight that they know she will put on and the destruction it will cause. So, they have a better sense than we do useful testimoni,. Even after eight of these hearings, how useful her testimony is. No doubt they are weighing the benefits against the disadvantages and will decide whether or not to seek her testimony against what her lawyers have promised will be a fight. E district attorneys off has its ow then there is the criminal case in georgia. The Fulton County District Attorneys Office has its own spiraling investigation. Governor brian kemp is expected to testify today and some experts say the day could be holding towards racketeering charges. Do you agree . I think from the evidence that we have seen, she is building a fairly broad case, not a narrow case of election interference. It is given a blizzard of target letters and subpoenas that that grand jury has been issuing and given that racketeering charges are his signature, i think she this is not just bravado. She is trying to build a broad enterprise, ricoh style, case. Again, we dont know exactly who , but again, given the sheer breadth of these letters and subpoenas, things like it seems like she is looking to make a robust and farreaching case. Would you expect the criminal case to move along faster than the federal one . It is really hard to say. I think that the attorney general has some serious i hate this apolitical consideration because the department of justice is not supposed to concern itself with political consideration, but, he may very well be from i would say the slow walk that we have seen here. She, on the other hand, does not have some of those same kinds of concerna fight. It could be sometime before they are going this way to the court. We have investigations as a they but trying we already know a lot of the recipients of these subpoenas will be putting up a fight. It could be some time before it winds its way to the courts. In a rico investigation is a serious one and take some time to build from the ground up. It could be a matter of months, it could be longer but its hard to say. She doesnt have the same kind of political time line consideration around the election that the department of justice is likely to be considering. All very interesting. Danya perry, thank you for your time. President biden says he is feeling better every day as he recovers from covid. This aftern they are trying to be the white house doctor reports the symptoms are almost resolved and during the virtual hearing this afternoon, the president told reporters he hopes to be back to work in person by the end of the week. Tomorrow will be his fifth day since the initial positive test. The Covid Response coordinator says he expects the president to return to a full schedule once he completes his covid protocols. You saw while he was infected and potentially contagious, he continued working. And i expect him to have a schedule that he goes back to a cadence where he is interacting with people. Today, the president says he is still congested and the raspy voice you heard. He completed his fourth treatment a plaxo bid last night. The doctor says mr. Biden will likely was likely affected by the omicron subvariant not as ba. 5. Cdc data shows it is the dominant covid strain in america. Three Chicago Police officers that in three weeks and all of them by suicide. Next, the changes being proposed to keep officers say. A mystery at a state park in iowa. The family members dead. One suspect with no apparent connection to any of them. The suspec trading, ats parents offer up another explanation. Charged with Insider Trading. A former congressman accused of boosting his bottom line involving everyone from his wife and son to his former mistress mistplanned carefully for our retirement. But we quickly realized we needed a way to supplement our income. If you have 100,000 or more of Life Insurance, you may qualify to sell your policy. Dont cancel. Or let your policy lapse without finding out what its worth. Visit coventrydirect. Com to find out if your policy qualifies. Or call the number on your screen. Coventry direct, redefining insurance. Another violent weekend in chicago. Five people dead and six east hurt and dozens of students across the city. One of those shootings outside the church after a funeral. It was a service for a well known gang interventionists. To hospitals. The police chief said that shootings are actually cop say a gunman drove by and shot three people. They say ambulances took all of them to the hospital. The police chief said shootings are actually down 19 from this time last year but said he knows there are still work to be done and praised officers but putting their lives on the line every day. This year alone, 36 officers have been shot at or shot. Officers served every day in spite of the risk for themselves and the sacrifices of their family. This sacrifice is one that cannot be measured. Some officers say they are sacrificing their days off in their Mental Health. Fam if i could have when they back with my sister i would trade it for anything. Reporter the Police Officer was 29 years old when she died by suicide. She was a mother and six year veteran of the police force. I wish you would have spoken up. Thats just kind of the person she was. Reporter she is one of three Police Officers to die by suicide in three weeks. We are taking away their time to process. Reporter they joined city leaders to any previously let officers say no to any previously unscheduled hours. Ive got Police Officers, they work 23 days in a row need 27 days in a row. Reporter and alderman says officers are overworked and need time off to comprehend what they see on the job. Canceled days off and 12 hour shifts were once reserved for public emergencies, but are now the norm. Reporter david brown, the superintendent of police. We are dedicated to officer wellness and wellbeing. Reporter he says officers need to be safe on the street. Would you rather have fewer cops on the street or more cops on the street . When the cop in that dark alley is calling for help now. Incredible stress and trauma every single day. Reporter an additional 20 million is added to the c . Ys budget Lori Lightfoot is the chicago mayor. Our Police Officers and door incredible stress and trauma every single day. Raptors she says an additional 20 million has been added to the budget to help Police Officers and their families. Do you think enough is being done . Not yet. Reporter he is with the American Association yet the. Clearly, it is not yet there. Were not denying that there are resources, but they are supposed to be able to use the. How can you use them when you are working 12 hour days . Reporter the mayor says the city is working on making something Mental Health something they are comfortable to talk about and get help if they need it. The hope is everyone can call for help if they needed. A gunman in iowa, shot aa g killed a mother, father, and their 6yearold daughter inside their tent. The family is from cedar falls, iowa, and the mayor says the 9 yearold son survived the attack and is safe. It all happened on friday at maquoketa caves state park. About three hours east of des moines. Public safety officials sasmithd their y daughter, or campi tyler and Sarah Schmidt and their two kids were camping in the park. The suspect, this man, 23year old Anthony Sherwin them like he killed himself. The suspects family says talso camping there with his family. Cop say they found him dead in the woods nearby and say it looks to them like he killed himself. The family of the suspects as they refuse to believe he is the killer. His mother told the omaha world she heard yelling and gunshots and said she thinks her son sensed something was wrong and grabbed their gun for safety. Cop say they dont know the motive for the killings. Allegations of abuse in a. G widespread abuse by the Catholic Church against thousands of indigenous children in canada. Today, the pope, and a long awaited move, issued an apology and he is not stopping there. A boat carrying migrants overturns. At least 17 dead. The thousands of dollars each reportedly paid to board the boat as Police Investigate a possible human smuggling operation. Why do nearly one million businesses choose stamps. Com to mail and ship . No more trips to the post office no more paying full price for postage and great rates from usps and ups mail letters ship packages anytime anywhere for less a lot less get our special tv offer a 4week trial plus postage and a digital scale go to stamps. Com tv and never go to the post office again pope

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