7 00 a. M. ElsElizabeth Warren is being pressed on biden family economics. Take a listen. I always worry about the influence peddlers in washington, regardless of party of partyaffiliation. We have to shut down the revolving door, have ethics rules that aply to everyone. Maria she was careful not to mention joe biden as a newly surfaced picture shows then Vice President biden on Board Air Force 2 on his controversial 2015 trip to ukraine, thats where he said nobody messes with a buy done. Hes being biden. He is being briefed by an advisor. The briefing happened before biden threatened to withhold aid, u. S. Aid to ukraine i top prosecutor general. He got Victor Shokin fired and he got his money. House Oversight Committee chairman james comer told me that the burisma head gave joe biden 5 million and hunter biden 5 million. Comer joined me yesterday to discuss the ongoing probe into the biden family influence peddling. Watch. This is always going to end with the bidens coming in front of the committee. We are going to subpoena the family. If i had subpoenaed joe and hunter biden the first day i became chairman of the committee it would have been tied up in court and the judge would have thrown it out. We have put together a case that i think would stand up in any court of law in america and we hope to hear from the bidens too. I wish the media would ask the president what exactly did your family do to receive this 21 million that the house Oversight Committee has proven. He continues to say thats a lie. Thats not true. We have their bank records, maria. Bank records dont lie. Maria krysia, its amazing to me, i was looking at twitter earlier, x, whatever you want to call it, and a lot of people are saying, you know, who are biden fans, wheres the evidence, wheres the evidence. James comer has shown us evidence. Hes come out with bank records. He has exposed bank records, witness testimony, and 176 suspicious activity reports. This is a stunning story. The most aggressive charges ever leveled at a sitting president and the Mainstream Media will not report it. Well, thats part of the democrat talking points. They like to say that theres no evidence when there is as you mentioned so much evidence here and they want the quote, unquote, smoking gun evidence to tie it all together. I again p am waiting for the republicans to start their impeachment inquiry. They have all of it ready to go. To go back to what Elizabeth Warren said, i wish she called out hunter biden by name. I think we need transparency in all aspects of our government. Again, the democrats turn a blind eye to what is occurring and wont mention hunter or joe. It obscures the facts here and we really do need to get going and move quickly and start subpoenaing the Biden Crime Family because we have enough to do it. Maria yeah. I mean, look, yesterday when i had james comer on the show, i said look, youve been on this for two years now and youve been investigating this and every day or every week you come out with new information. We need to hear from the bidens. We need to hear what their reaction, what their answer to all of this is, are you going to subpoena them and he said yes, he said we are going to subpoena biden family members. So well see. I think ryan, once you start seeing democrats turn on the biden family, Start Talking about this influence peddling in a big way, then you know theyre ready to take joe out, put kamala in. I dont know if its the best decision for them because shes not that popular. What gets me too, you talk about egreeegregiousness, he held up a billion dollars from ukraine because he wanted to top prosecutor out because they were investigating the company over there. You talk about peddling for influence, come on, its like the most egregious form of it, its right in plain sight. I mean, give me a break. Maria lets just be clear about what the charges are, these are the charges that President Biden is hearing about from republicans right now. This is very serious. And yet, we havent heard anything from the special council. Does anybody even know the commercispecial council on the classified documents case for joe biden. Its rob effort herr. Robert herr. We will probably not hear a lot about him either. Going forward, we certainly have enough evidence to go against hunter biden with his breaking the fara laws, hes not a registered foreign agent, neither was devon archer but certainly joe biden you have the connection made. He was talking more than just about the weather that the other democrat talking point, he was just talking about the weather and there really is no business connection. We saw peter doocy this week ask him ridiculous question as joe biden called it to tie it all together. He refuses to answer any questions. Hell go on the weather channel, talk about Climate Change, talking about the existential crisis that were fa are clearly as we well know. Maria and even more outrageous is the proxies that this administration has holding their water from the media to the democrat representation. I mean, to hear representative dan goldman come out the other day and say oh, yeah, they didnt talk about business, just because joe biden called into the meetings 20 times, they talked about the weather. I mean, how stunning that he actually sat there, locket at report looked at reporters faces and said that. Coming up, how markets are moving ahead of the july i thinithinkflation day july inflation day th data. What to expect with our word on wall street panel coming up. Youre watching mornings with maria live on fox business. Its my life. Its now or never. 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Economists are expecting a fractional move, up two tenths of a percent month over month for the ppi and rise of seven tenths of a percent year over year, dennis. What are you expecting from the numbers and how would assess the macro story now, looking at growth versus inflation . First of all, its good to be on with my friend ryan payne. Hes been bullish for a long period of time. Hes done a great job. Well done, mr. Payne, youve done extraordinary work. Cleaverly the ppi clearly, the ppi number will be up two tenths of 1 . The cpi, you had a bullish response and a terrible close by the end of the session which i thought was deleterious to the stock market in the long run. Time will tell. I think todays ppi number will be up two tenths of 1 . It wont be anything the fed will take into consideration to tighten Monetary Policy further. I think the fed is done for all intents and purposes at this point. The yield curve, youre deinverting the curve a bit. I think thats very important. The shortend is showing strength, the long end is showing weakness. But i think you had something that happened seven trading sessions ago in the bond market when you had a technical reversal to the upside in price. Reversal of the down side in yield. I think thats an important turning point for the bond market. Pay attention. It disinverted from the yield curve. Short end will be better, the long end, rates will stay higher for longer, for a longer period of time. Maria so are you still expecting things to weaken this year, dennis, toward year end and into next year . The debate on recession i think the economy yes, i think the economy is going to weaning. I think its already beginning the process of weakening. Taking a look at one of the most important indicators that i l follow, the relationship between the leading Economic Indicator and the coincidence, when the ratio goes less than one, since 1970 every time after that weve had a recession following within a year or year andahalf. That happened about six months ago. I think were going to be in a quiet, not a disturbing recession but a slowing economic environment. No question about that. Its just a matter of time i think were already probably very close to that period right now. Maria ryan, you see it differently. We did get a read on inflation yesterday. The july Consumer Price index was actually better than expected, showing a rise of 3. 2 . But that was while better than expected it still showed and increase from last month. One sector that keeps going up is rent inflation, up 7. 8 since july 2022. Average rents in new york city now topping 5,500 a month, ryan. You also of course have the elevated price of oil which is also one of those sticky things in inflation that is keeping prices elevated. Whats your take on the inflation story and the macro story as well . Yeah, well i do agree with dennis on the inflation story, actually we agree on that and pocket scarf today is so handsome, dennis, i cant even put it into words. I think the bottom line here is when you look at inflation, you look at the shelter component, if you look at real rents, whats happening in real time because the lag in the cpi number, theyre actually coming down a lot nationwide. New yorks a different animal. I live in new york. Its awful. The rent situation is brutal. Nationwide, it is starting to come down, starting to see new leases and that is going to start to show up in the shelter component of cpi which is going to start dropping a lot over the next couple months. If you took the shelter component out of cpi yesterday, you would look at 2 inflation which thats the feds target so agree with dennis there. I think the fed is done. I think the market knows the fed is done. The only place ill disagree with dennis this morning, dennis likes 60s rock, so do i, bob dylans, the times are changing. We are seeing a reacceleration of growth. We could see close to 4 gdp growth in the upcoming quarter. I think well see growth rates start to rise this year and next year and thats very optimistic for stocks and very optimistic on the economy, with all due respect, dennis. Maria dennis. As bob dylan said, you dont need a weatherman to know the way the wind blows. We have a president that seems to spend a lot of time talking about the weather. Well said, dennis. Maria well said is right. Gentlemen, good to see you both. Thank you so much. Well take a break. When we come back, President Biden finally admits what the Inflation Reduction Act really was and it is not about reducing inflation. Arkansas congressman french hill is with us for reaction. Stay with us. Stacys mom has got it going on. Shes all i want and i wait for so long. Stacy cant you see the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. It still does. What can you do with spy . Wake up, achievers. Youre making the most of every hour of your life. Except the hours that youre sleeping. So why do we leave so much Untapped Potential on the table . This is a next level bed, for a next level you. My circadian rhythm is kicking your circadian rhythms butt its not a competition. I know, but im still winning so, it is a competition. Save 50 on the sleep Number Limited Edition smart bed. Plus, 36month financing on select smart beds. Shop now only at sleep number. Wow, you get to watch all your favorite stuff. 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Im able to stand and actually make dinner. Im able to clean my house. Im able to do just simple tasks that a lot of people call simple, but when youre extremely heavy theyre not so simple. Golo is real and when you take release and follow the plan, it works. Maria welcome back. Well the white house is now asking congress for an additional 40 billion in supplemental funding for the start of the coming fiscal year. The white house says it wants an additional 24 billion for ukraine, 12 p 12 billion for r relief and 4 billion for the border and fentanyl crisis. Joining me is arkansas congressman french hill, a member of the house intelligence and Foreign Affairs committee, vice chairman of the House Financial Services committee. Thank you for being here this morning. You bet, maria. Good to be with you. Maria so lets start on americas finances this morning and this additional supplemental money that President Biden is asking for. What are the odds that this is going to be approved and what are your plans once you all get back in september when the deadline that the government runs out of money happens on september 30th . Well, maria, i was disappointed that we only got one of the House Appropriations bill across the house floor before we broke for the august recess. We have 11 more to go. So we have a lot of work ahead of us before september and i think a majority of House Republicans would have urged the president to just consider this 40 billion request as a part of the debt ceiling deal we already negotiated. You should have contemplated those needs and put them in your spending request negotiated with speaker mccarthy. I think thats where most House Republicans are. We want to see the budget spending controlled. The president increased spending over 2 trillion per year since 2019. Thats how much more were spending so we think theres plenty of money, we would prefer the existing budget absorb those expenses for fema, for ukraine, for the border. Maria yeah, i mean, this is a really important point that youre making because the democrats borrowed and spent 6 trillion on joe bidens watch and now we know about all of this legislation that has already passed into law. How come that additional money wasnt part of the ask . President biden just this week said that he regrets, his word, not mine, he regrets the title of his Inflation Reduction Act. I mean, this whole time were talking about this Inflation Reduction Act, supposed to be reducing inflation. Well, yesterday he says i wish i hadnt called it that. It had less to do with reducing inflation than it does with providing alternatives that generate economic growth, congressman. We know what that means, it means its the green agenda. Its the climate agenda but his chips act, bipartisan infrastructure act and Inflation Reduction Act were all enormous increases in domestic spending in an outofcontrol untargetted way, its industrial policy, picking winners and losers, its going to misallocate resources in our market economy. These are all bad things. Thesthese will all contribute to inflation, not curtail inflation. Its hard to find a worker to pwork on roads. In my view, we should be able to find these goals he has for fighting the war in ukraine, the border improvements, and fema for disasters out of the existing money that weve negotiated with between President Biden and speaker mccarthy. Its a completely reasonable presumption on the part of House Republicans. Maria this happens over and over again, when youre in the fight and when the white house is in the fight, trying to get their legislation through and get the votes in congress, its about reducing inflation as were all hurting because of 40 year high inflation. Now that its law and hes got all this money thats being allocated into the economy he regrets calling it inflation because its actually a Climate Change bill. I mean, you know, this is very disingenuous. I want to know from you what your priorities are in the Financ