Meeting the president will be having with the leader of china. He will be jawboning him to do all he can to reign in the North Koreans that by the way launched another missile off the Korean Peninsula coast just this morning. And cue degra had to say, Federal Reserve says they want to unwind about 4. 5 trillion in treasury notes and bonds that they have piled up to keep rates as low as they can for eight nine years now. When you unwind something, you sell something, the fear is you could fleet the market that could basket up Interest Rates and be bad in general. The numbers seem greater than thought hand the Federal Reserve will have a tough time finding buyers at the low rates here as they try to unwind their position and take away the punch bowl. Seems weird, but these three developments together, each in their own black Swan Development for markets and weighing on a rally that looked bulletproof for a while concerns the today. We ended down about 41 points. But that did represent about a 220 point swing when all was said and done. Charles payne on what prompted this loss of money. What is the most agitating investors . Maybe the unknown . All of the unknowns. What we knew this morning, the manufacturing renaissance, the trump economy was gaining momentum, with the adp jobs report that was phenomenal. Not only crushing the estimates but coming in with job production in areas that we need the most. Mining, construction, manufacturing. Better paying jobs than those being created a year or so ago. That got us to within two points of the dow being up 200 points and then it went poof. It compounded because to your point, we started out with north korea. The belligerence of north korea. And then of course President Trump doing a 180, taking the gloves off or syria forcing him to take the gloves off. The atrocities that they committed put us in to a confrontation with them or russia. If everybody thought there was a bromance, its off at this point because russia says they will continue to support these attacks by the assad regime. Neil to your point, its the unknown. Thank you. Charles payne. Scott martin and shelby from the wall street journal. I know i risk saying this, but its a big concern. The Federal Reserve over all of these years has been keeping rates low by buying treasury notes and bonds. They have to undo that now. Why is that a worry . Investors have wondered how theyre going to address it, what the approach will be. The question is will this pause rate hikes. One fed governor suggested i might. Could halt Interest Rate rises for the short term. Generallied is i think theres a lot of uncertainty of how they did. We had minutes today. We didnt have a press conference. Economists are not expecting a rake hike now in may. So a lot of uncertainty. Not many details. The fed stays tightlipped about these things. When we look at things like this i dont want to say oh, this is a sign of whats to come. All its saying is the Federal Reserve is talking about doing something they have to do. But it has the appearance of a distress sale. The assets will be sold on the cheap and Interest Rates could back up. How much of it is it a worry for you . Its not. Thanks for explaining it that way. This is a good thing. The fed and all of their work that they did largely was of benefit and need back five, six, seven years ago when the economy was in worse shape. All the stimulus, the bond buying was was the economy wasnt growing. The markets got it off. The sell off was unwarranted. To me, the comply is growing. We saw that in adp numbers. The economy is in better shape. Hiring is coming, higher wages is coming. Thats what stocks should be keying on here. Shelby, scott. Thanks very much. Its the fear of the unknown when it comes to the Federal Reserve as these two fine folks have indicated. And then theres the black Swan Development. What do you do about syria. What do you do about north korea. The president indicating hes going to do something. Hes not telegraphing it yet. He said hes going to do his darndest on the chinese leader when hes in town to try to get him to do something about north korea. Blake burman has more. The president described himself flexible when it comes to all affairs, especially International Affairs dealing with the chemical attack that happened in syria and north korea with the summit you talked about that he will be involved in florida tomorrow and spilling over to floor. Horrible, doesnt acceptable. Those are some of the ways the president described the chemical attack in his News Conference. He was standing alongside jordans king abdullah. The president said what happened the other day makes him think differently against basser alassad. He didnt say what the policy changes would do or what the administration would do going forward. Its the flexibility that he talks about. The president was critical of barack obama and the red line comment that then president obama made in 2012. President trump was asked today if what happened the other day in syria crosses a red line for him. President trump said that crosses many lines beyond a red line. Neil . Neil you have to worry when you say it, crossing lines. Then the pressure and markets respond to this as well if you dont follow up, right . Thats part of the criticism that he levelled today against obama saying you drew a line, there was no action. But the larger point that President Trump was trying to make is ive got a plan, so he says, but im not going to share it. What he says he saw the other day clearly changed the calculus with the way they handle syria. Neil thanks, blake. And pete, one of the things we learned here, the president has two International Crises on his front step right now that is north korea and even today launching yet another missile, this time off the Korean Peninsula and the on going saga with assad in syria and using chemical weapons and trying to get that under control. Talk about a double dose of scary reality. And two very different problem sets. What President Trump is saying is our words will matter. Were not going to say things that were not willing to back up. In north korea, we said were done talking. Were not going to accept this behavior, which has given them rope to build their intermediate ballistic capabilities that could strike us with a nuclear warhead, which is big to us. Could see a willingness through means to shoot down the next launch and say no more. We will not tolerate your ability to test. Thats one avenue beyond diplomacy. In syria, he doesnt get dragged in. They have more or less acknowledged that theyre not growing to try to take off the head of the snake and run into a direct confrontation with russia. They will arm the rebels fighting isis. Crushing isis his focus and taking back raqqa. Its still a complicated situation. It doesnt mean that were looking at Ground Troops and an invasion which is why hes not talking about red lines. Neil he did talk about responding to this. Hes in between a rock and a hard spot. He dialled it back when there was talk about removing assad. He said post election, maybe not. Does assad need to be out of there or do we push the russians to do it and if they dont do it, should we . If you havent learned the lessons of that, youre inviting chaos. President trump understands that. A lot of pressure to put on russia where we maybe well get concessions in other places as well. Russia is critical. They control the future of alassad. Theres pressure to put on them to stop using the weapons of war, which have been illegal for decades. Its a moral issue when you talk about the lines of chemical weapons against civilians. Americans can never be okay with that. But you can see the sisi the president of jordan, the strong men willing to work with america to chris isis. And alassad does kill terrorists so thats one thing. Neil and this will test our relation ship with russia. It is. Its a different policy as in eastern europe. So between all of this, you have a deal maker with President Trump that will leak at the strategic alignments of interests and say hey, mr. Putin, its time to talk. And the same with north korea and the chinese. We havent put pressure on them in the past. These meetings will give a new opening for that. Theyre doing things in the South China Sea and building islands that we dont like. Lets get concessions elsewhere as part of a larger deal. Neil wellput, pete. Thank you. Meantime, the president has made it clear hes not a fan of susan rice and thinks she might have committed a crime. A key House Intelligence Committee will be looking at that and also looking at how soon and how quickly she can testify. After this. Neil all right. It looks like they want to get susan rice to testify on capitol hill about what she knew, when she knew it and whether it was political or not, whether she was revealing the identities of key trump surrogates, ultimately key trump personnel at the same time regarding what they knew and who they were talking to from russia. Republican House Intel Committee member, Chris Stewart with us right now. How likely is it that mrs. Rice would be testifying . Almost inevitable. I dont know how i could have the information i have right now and not have her before the committee at some point and probably others from the Previous Administration as well. Neil she said that whatever she did was not political in nature, which is a way i thought to give broad cover to if she was revealing names, even if it was a single name, that there was not a political agenda here but it was still going on, right . Yeah. The white house is not a creator of intelligence. Theyre a consumer of intelligence. The nsa is responsible for collecting the intelligence, creating analysis. The white house this is what im seeing with forethought but i want to be careful. The white house has no reason at all to be unmasking names like this. There isnt. Thats not their decision. The decision of the Intelligence Community before that point and it just makes us wonder why was she willing to do that if she did. Neil you think she committed a crime . I dont know. One of the things on the committee is, we dont want to overpoliticize this. It has been over the last week or ten days. We have the advantage of going down into our committee hearings, not in front of cameras, but behind closed doors and doing a serious investigation. We want to do that. I wouldnt prejudge whether anybody committed a crime on this. Theres certain questions that we want to ask her and others. Neil one of the things that came up, when we try to redo the time line on this, congressman, we know that james comey did give a headsup to the Obama Administration last fight. I have intelligence to believe that the russians are trying to affect our election. He was slapped down on that and it wasnt a good idea for whatever reason. That might have triggered some concerns within the Obama White House that there was something amiss here and did bear watching. Then you add to what happened later on with the administration throwing out those 35 Russian Diplomats and fears that the trump folks at the time werent interested in necessarily pursuing that tough line with the russians, that there could be a chain of events set in place here by an Obama Administration, given the benefit of doubt here, that wanted to get to the bottom of what certain trump folks and when they knew it and who they were talking to that could have included surveilling just in the sweep of that donald trump himself. What do you make of that . Thats where they seem to be coming from. Yeah. Heres what we do know. I think theres three kind of primary questions. The first is did the russians affect our elections. Did they manipulate Voting Machines and databases. The answer is no so far. Is there direct evidence that the Trump Administration or Trump Campaign officials collaborated with the russians. Again, the answer to that at this point is no. Thats not just me saying that. Director clapper said that, the fbi said that. The Ranking Member on the Intelligence Committee, the democratic member said theres no direct evidence to support that which leads us to the third line of questions, was there incidental collection, was that information unmasked, were those names disseminated and were some of those names leaked . The answers to those seems to be yes. Its haveclear the answer is yes. Thats one of the things the committee has to understand and has to make clear to the american people. Look, we expect our privacy, even officials in the middle of a campaign, they have a right to privacy right now. Theres no reason that you can say because they were in an Opposition Campaign that they wouldnt have the same expectations, that their communications would be kept private. Neil do you work on the same time frame as the Senate Committee does . Do you compare notes . Are they two separate investigations . Theyre two separate but parallel. I think we have an understanding what each other are doing. We dont coordinate and have the same time line. Were working fairly independent. I suppose much of the work will overlap. Thanks, congressman. Good to be with you. Thank you. The Democratic NationalCommittee Chair still not apologizing for insulting President Trump. The chair of the republican National Committee here to respond. My day starts well before im in the kitchen. I need my blood sugar to stay in control. I need to shave my a1c im always on call. An insulin that fits my schedule is key. Tresiba® ready announcer tresiba® is used to control high blood sugar in adults with diabetes. Dont use tresiba® to treat diabetic ketoacidosis, during episodes of low blood sugar, or if you are allergic to any of its ingredients. Dont share needles or insulin pens. Dont reuse needles. The most common side effect is low blood sugar, which may cause dizziness, swtiting, confusion, and headache. Check your blood sugar. Low blood sugar can be serious and may be lifethreatening. Injection site reactions may occur. Tell your prescriber about all medicines you take and all your medical conditions. Taking tzds with insulins like tresiba® may cause serious side effects like heart failure. Your insulin dose shouldnt be changed without asking your prescriber. Get medical help right away if you have trouble breathing, fast heartbeat, extreme drowsiness, swelling of your face, tongue, orhrhroat, dizziness, or confusion. Ask your Health Care Provider if youre tresiba® ready. Covered by most insurance and medicare plans. Tresiba® ready neil all right. No apologies, no nothing. Tom perez is not backing down over comments that republicans dont care about people tweeting out sorry. Not sorry. Ronna mcdaniels is here with us. We reached out to tom perez. He was not available. So you heard what he said, ronna. Now, im just wondering if he wont deal that back. He seems to be of that opinion and its widely echoed among the liberal community that republicans really dont care. How do you as the head of the rnc respond . I think its deeply concerning to see the head of the Democrat Party use such rhetoric saying that republicans dont give a bleep about people and to not see democrat leaders coming forward and denouncing that rhetoric. Theres a lot of democrats that represent republicans in their states. Joe manchin, heidi heitkamp. They need to respond to what the head of their party is saying. Im head of the republican party. I know republicans care about people. Democrats do. This type of rhetoric is to divide and incite anger and certainly not helpful for getting things done in this country, which is really what americans want. They want better healthcare and National Security. Neil i worry when it gets to so extreme that the two sides cant agree on anything. Whether its the Supreme Court justice vote coming up for neil gorsuch, on the healthcare thing, its all republicans coming up with a rework and fix and not a single democrat and on and on we go. Im wondering whether the positions have hardened to the point that the two sides cant even remotely work on anything. Youve seen President Trump reach out his hand over and over again to democrats and saying, we have to solve these problems. He said united were unstoppable. We know that premiums are going up for citizens all over this country with their healthcare. Deductibles are high. We know democrats are not sitting with republicans to try to find meaningful solutions. President trump has reached out. Hes going to continue to reach out. Its unfortunate that the head of the Democratic National committee is using this type of rhetoric. If this is an indication of where democrats will be, theyre saying they will resist. Are they going to resist better jobs . Are they going to resist better wages or our country doing better and helping people that have neil ronna, you have understood that. The president reaches out. He gets a different vibe when Speaker Paul Ryan says maybe not. Well try to work this out on our own, try to come u