Happy weekend all welcome to the program that analyzes the week that was in position to for the week ahead i am maria bartiromo. Hunter biden indicted on gun charges as House OversightCommittee Chairman james kromer ramps up the impeachment inquiry against President Biden targeting hunter in james bidens personal and bank records also planning for a first hearing sometime later this month democrats are still denying President Biden had any connection to his sons shady business deals. This impeachment effort is a political effort there is no evidence to back it up. There is 0 evidence of any malfeasance on part of president joe biden. President biden did not do anything wrong. Is a three ring circus, ring one shut down the government, ring two impeach positive biden. Ring three, gm your extreme right wing ideology down the throats of American People. Maria House Freedom caucus chairman and the member of the House Oversight committee congressman scott perry. Thank you for joining us. Great to see you. I think youre playing clips of the site and. They cannot see the mountain of evidence that the American People have been seen for some time and grows every single day. Maria i want to talk about the mountain of evidence you were part of the closed meeting with House SpeakerKevin Mccarthy and republicans laid out their case against the president tell me what the amount of evidences and where do things stand. Where things stand and what we heard there is 20 million that moved from foreign entities and foreign individuals into the biden family. We have literally dozens and dozens of suspicious activity reports for banking, anomalies connected with the bidens and transmissions between the president and his son under a fictitious name. We have the president showing up in person or on the phone in board meetings with his sons Business Partners and all of that leads to corruption and influence peddling there has been credible reports from the fbi whistleblowers and regarding extortion and bribery on behalf of then Vice President president of the United States this is all circumstantial but i would remind you circumstantial includes fingerprints on a murder weapon. The impeachment inquiry is necessary to take the next step to clear the president of allegations were continue on the current track which we are on a new generally daily basis if we can get more information that leads to more questions were evidence mounted against the president in the form of corruption and influence peddling. Maria we are talking about 20 Shell Companies that you been able to unearth 176 suspicious activity reports reports coming from the biden family banks. Why do you believe that they set up the 20 Shell Companies and why was money going to the biden family. You only set up 20 Shell Companies if you dont want somebody to find out where the money is going to or coming from. It is to hide money and launder money which in itself is a cri crime. The question is what is the product of the service that the 20 million was in exchange for, crimes are committed the question is who committed the crimes. Let me get your take on how your battling the probe while balancing this idea to keep the government open, you have seven or eight days working days left to keep the government funded before it runs out of money, what are the plans. I think the plans are for the Investigative Committee to continue the investigation we can walk and chew gum at the same time were getting you to think that once was the Appropriation Committee will continue to do its work two more bills to push out, we have to get the policy right in the number right and we should be rolling up our sleeves and be there every single day and every single hour until this is done. We can do it, nobody said it was going to be easy but the Pressure Cooker of time is a significant influence on getting things accomplished. Maria the democrats are saying your goal is to shut down the government and attack joe biden. Kevin mccarthy the speaker of the house says hes in favor of doing a shortterm continuing resolution to get through the period to work on the appropriations bill, will you do it . That might be the case but were not to do a continued resolution that continues to fund the Biden Pelosi Schumer level. What were discussing is a slight haircut for 30 days and a border policy that will secure the border. As you know this month record numbers coming up to the mexico texas border and into our country and if the president and Chuck Schumer in nancy pelosi want to shut down the government over the border thats good to be there business that were going to make a strong stand this is the border must be secure in the American People support that and demand that they dont want anymore money wasted on allowing illegal fentanyl and cartels to have operational control over border. Maria that was one of the campaign in one of the appropriation bills, you do fully fund the Border Security consistent with hr to where watching to see packets over the finish line. Real quick President Biden speaking out against the United Auto Workers strike, watch this. I been in touch with the party senses began over the last few weeks and over the last decade. Auto companies have seen record profits. Those record profits have not been shared fairly in my view with those workers. Maria you may remember the president said in philadelphia before labor day he did not think a strike was going to happen now you have 13 workers on all three major automakers on all three states, what is the impact. How can a strike not happen under the president s policies the hardworking folks, their paychecks are paying the bills not the electricity, the food bill, the gas bill, they need more money to pay the bills or asking for more, the bottom line all of us are good to pay more for cars, trucks and vehicles because of it, is caused by the president s inflationary policies that is making general life for normal working people unaffordable. Maria we believe that there, thank you for your insights this weekend. Good to see you god bless y you. Union. Mighty. Union. Mighty. Maria the Economic Impact of the historic auto strike that could cost billions. 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What are your expectations for the fed meeting next week. Thank you for having me, number one the meeting will have various parts in start with what are we going to do in september and they recognize the inflation rate is up 3. 74 august and thats much higher and within the core even though the court came down that Services Within that remain elevated so there will be a discussion around that interview members, two or three who want to move rates in september but i think the majority will argue that core is down they will wait and see and hold and think about moving again in late october, november and they will say basically you very diligent and will wait and see as were data independent. Thatll be the first part and i think they will not make a change in september although i could be wrong, the bigger discussion may happen around the october november meeting, there the good to be thinking higher rates but the going to say were going to watch the data we get to see how october announcement is on september inflation and we will look at that, there is more likelihood they would move if they stayed anywhere near where they are now they would have come down dramatically. The other thing, they will have a discussion on if we remain higher for longer and that will be a big discussion. I think the majority although they want to lower sooner but i think majority will say we have to stay up here at this range is not a quarter more as we go forward from here there will be a lot of discussion around that. Maria as they shape the narrative for the next meeting, what do you think will be most important you are watching the data as well and we saw inflation data that was elevated, we also saw american it down for three years in a row its cutting into american wag wages. Absolutely, they know that. Theyre well aware of it and what they are afraid of if they go too fast they will trigger another banking crisis or at least a financial crisis in some form, that scares them to death. Thats why theyre trying to walk the tightrope between moving more aggressively now and given where they are and Holding Still and waiting and that is the challenge they have a real issue that they have to deal with Going Forward. Maria you layer onto that an auto worker strike, the United Auto Workers launching a targeted and historic strike against automakers. If this last ten days the economy would lose 5. 6 billion, what is your expectation on the impact here. I think its going to be tremendous, not only that but labor is tired of having the real incomes dropped so this could be far more militant as you can see by this strike in the willingness of workers to go on strike for this is affecting other industries as well because people are behind the visit to have a major impact Going Forward and thats what the fed believes it knows that they gotta get the Inflation Numbers that and do it without creating a financial crisis, as you said at your opening, and the other sectors are sensitive who will these things are going to we have real economic challenges ahead and im concerned, i think others are as well. Its also indicative of whats happening in the economy, were still not tight labor market where corporations are forced to increase wages, is not right, were a tight labor market is going to continue for a while although unemployment is rising modestly, well below historic levels, i think the fed is in a position that they will have to continue to tighten and what they risk, going too far and understand that but the good have to go somewhat tighter and that means unemployment going under dissatisfaction on that side of things. On the other hand if they dont go inflation is going to continue rising and a lot of dissatisfaction because people know the real incomes are falling. Maria important insights, thank you. You very welcome, good to be with you, thank you, sir. China is preparing for war with the United States. 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Congressman mike garcia with me earlier this week sounding the alarm on the threat china poses to the United States. Members of the House Select Committee on china traveling to new york city to hold a hearing on wall street on the groin and dangerous threat from the ccp. Joining me the chairman of the select committee on china and a member of the house intelligence committee, congressman mike gallagher. Great to see you, thank you for being here this weekend. Of course, great to be with you. Maria i want to talk about the meeting you had with wall street executives, do you believe that businesses understand the threat that is communist china. Are job and mission is to make them understand and not only did we conduct a field hearing we conducted a wargame in which we invited a lot of major Asset Managers and bakers to understand the implications of a scenario that took place in 2028 involving china trying to take taiwan and the other havoc it would wreak on the Global Financial system. What are the biggest takeaways if we do not make hard choices now we have very few options in 2028. You can see in the room how concerned people were about taking some options, aggressive options that would be necessary against china because of the financial and economic implications. All the more reason why we need to have this discussion, given the increase in risk in investing in china if you think the american pension money were going into chinese firms we would have much more hidin highr accounting and the regulatory firms when they listed our exchanges but as you know and have been covering long before anyone else the very opposite is true a recent deal between the fcc, the pca and the chinese government, circumvents u. S. Law and allows china to audit its own firms throwing american investors into the wolves, this is why our committee exist to have the tough conversations and force wall street in congress to act before it is too late. Maria i wonder if we see communist china go win, invade taiwan and try to acquire taiwan. Is the right move to d register and delist those Chinese Companies from u. S. Exchanges . They did something as extreme as trying to invade taiwan that move would be table stakes, we will be contemplating things far more aggressive than that. If we dont Start Holding them accountable now you can have a chorus of major wall street executives, major lobbyist trying to convince members of congress or the executive branch not to act. The other thing we tried to impress on our friends in new york is the starting parallel that we are seeing wall street pushing trillions of unwitting americans using Financial Engineering to scrape the rules and lobbying to fight all regulation. Instead of subprime mortgages in 2008 this time it is Chinese Security that use up screwed things like the ie structures to strict shareholder rights and Corporate Governance from investors. Thats why we need to have this conversation and stop funding our own destruction at a minimum. We should not be allowing major Asset Managers to invest in Chinese Military companies that are building things designed to kill americans in a future conflict. Maria do they not factor into their Business ModelsNational Security risk. That is one of the Key Takeaways from our field hearing and whatever witnesses form fcc commissioner jake layton teased out that businesses should be forced to disclose the risk entailed by their exposure and their presence in china i dont think its adequately being factored in right now. What is it mean in terms of their fiduciary duty when youre talking about investing in technology that can be used to perpetrate genocide or egregious human rights abuses or expedite xi jinping timeline for potentially provoking a war we need more transparency, heres the other thing that we talked about before. I used to think that wall street wanted in for china the same thing rob banks, that the same thing money is, its not clear that these are good investments, thats what jims testimony hammered home when compared against the s p 500 over the last decade a lot of these etfs link to china have not performed that well even if you just calculating the cold financial incentive of china it seems like a bad investment. Thats a great point we question whether were getting the real story when we see the Economic Data coming out of china and the economy is a lot worse than theyre letting on, isnt it. It is heres whats troubling to me the president , President Biden was in vietnam and he said something to the effect that chinas economy is slowing down therefore the risk of a taiwan war are less likely. I completely disagree. Let me say its equally plausible that xi jinping to get more aggressive as he faces more domestic economic and demographic headwinds. For the president of the United States to go out there and Say Something like that undermines the urgency that we need in order to deter a war from happening in the first place heres where i agree. A big time wall street folks were dovish on china than i am. I see that a war with china would be incredibly destructive and is something we should seek to prevent. We need to deter it through strength and tough Financial Economic action now before it is too late. Maria will watch incredibly important work, mike gallagher. One trying vapes to quit smoking might feel like progress, but with 3x more nicotine than a pack of cigarettes vapes increase cravings trapping you in an endless craving loop. Nicorette reduces cravings until theyre gone for good. Tech cracked windshield on your new car . Bring it to safelite. My customer was enjoying her new car, when her windshield cracked. [gasp] customer my car tech vo she didnt take it to the dealer. She scheduled with safelite. 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In invesco qqq, a fund that gives me access to. Nasdaq 100 innovations like. Wearable training optimization tech. Uh, how long are you. Im done. Im okay. Maria welcome back one thing you need to know ahead of next week its National Cheeseburger day on monday many fast food joints are rolling out the deals for the occasion, restaurants such as applebees, burger king and wendys are competing with a variety of promotions, some are gettingiving burgers away for fe with any purchase the list of deals and participating restaurants is growing by the day but before you fuel up on free burgers kept my program telling them eastern on the fox news channel, sunday morning futures is coming to you live from the capital, exclusive interviews with the speaker of the house Kevin Mccarthy, house affair michael mccaul, for the cogs men Michael Waltz and Marjorie Taylor green. We will see you on sunday. That will do it for us on fox business. Thank you for joining us, a happy rosh h celebrating this weekend. I will see you next time. Barrons roundtable sponsored by global asked etf