Maria welcome back. Good wednesday morning. Thanks very much for joining us i hope you are having a good wednesday i am maria bartiromo. It is wednesday, march 13, it is 8 00 a. M. On the east coast, former special counsel robert hur defending his report on President Bidens mishandling of classified at this moments in a house hearing said biden willfully retained documents read out classified notion of government wry dplalt republican lawmakers clashed with his findings. The president i did not share classified information i did not share i guarantee i did not. That is not true is it mr. Hur . That is inconsistent with the findings based on in evidence my report. It is a lie . You exonerated him. I did not exonerate him has, mr. Hur my time. All i have to do when i am caught taking home classified materials is say i am sorry mr. Hur i am getting old my memory is not so great. Congressman. This is doctrine you established in laws now it is frightening. You cannot tell me heure so naive as to think your words would not have created a political firestorm that you are suggesting that i shape sanitize omit portions of my reasoning and explanation to attorney general for political reasons. No. I signatured you not shape your reports for political reasons. Would not have that did not happen . Wisconsin congressman tom tiffany asking hur whether white house interfered with final draft of his report. February 5, letter that was sent to you asking you to change um um references to the president s poor memory was there isnt a by white house to do that. There was a question yes. Did white house then, go to the attorney general himself, and say that he would like to see changes to trefrns in regarding to the president s memory. White House Counsel did send such a letter. The white house now declaring President Biden is innocent saying they are ready to move from hur investigation, watch this. I think main thing to take away from today two words for the american people, case closed. Joining me right now by congressman tom tiffany member House Judiciary Committee congressman what did you learn yesterday that is appropriate . Case closed . Maria i enjoyed that response i want to say case is closed also i thought one of the best exchanges thep money from yesterday came in questioning from representative kiley from california said could a reasonable voter convict in have case mr. Hur said yes, so it is very clear pattern of conduct, by President Biden, as Vice President , and citizen job a pattern of conduct if oneoff maria, yeah. I i mean you give people a break. But this is a man who spent career in politics knows how to play the game knows how classified documents work. And he chose to ignore the law. I mean maybe, maybe a pattern but will there ever be any accountability for it . I mean democrats maybe hearing all about former President Trump yesterday claiming hur wrote report to help trump become president again watch this. You are do everything you can do to get President Trump reelected so that you can get appointed as federal judge, perhaps another position in the department of justice . Isnt that correct . Congressman i have no such aspirations. I want to see if you required to not accept a president from donald trump if elected as president . Congressman i dont i am not here to testify. What will happen. President biden has mental acuity to navigate this situation, donald trump did not. No. I suggest you not shape your reports for political reasons. Did not have they did not congressman, your reaction . Maria, they are in full panic mode. You have seen polling,up to like what is it 60 democrats do not want joe biden running for president. They are in full panic mode. Maria are lee, your numbers prove that. Lee yeah 63 americans right now questioning Mental Fitness staggering when you think about it 30, only one third americans think he is up for the job. Maria that is staggering. They are staggering. Congressman there is are reportedly a Damage Assessment underway with regard to the impact of the classified material, what does that mean congressman . What can we expect to come out of this quote unquote Damage Assessment . Um who is doing the Damage Assessment can you share that with me. Sure. Special counsel robert hur confirmed Justice Department intel communities are performing this Damage Assessment i just never heard of anything like this, within this context, i am curious as to what what happens from here. Maria white house feels that his language about biden being an elderly man with bad memory caused damage. Yeah. It is very clearly done that, i think mr. Hurs testimony is a good piece a small piece a very good piece that fits into what has been happening with representative comer the Oversight Committee, i think this will be added to for the american people, what did mr. Hur in effect say yesterday . I am going to leave this to voters of the United States of america, to decide who they want as president , whether joe biden should continue, to have a second term as president i think that is ultimately what he was saying. Look, the white house wants this to just go away, move on they also want us to believe, that given mr. Smirnov was indicted that acquire into impeachment for biden should go away swell, they want the investigation into hunter biden shut down Oversight Committee has subpoenaed at t they want 15 years of Hunter Bidens phone records, devon archer, Jason GalanisTony Bobulinski invited to pest publicly next wednesday where does impeachment acquire stand what does next wednesdays testimony get you he everybody on both sides of aisle gets five points to ask these folks a question. Where smoke there is fire i think closer to fire that is where mr. Hurs testimony yesterday was valuable as we move forward we are going to find more information, the information is continued to drop is there steadily week after week in regarding to biden family their dealings, remember what this is really all about, yes you have someone trying to enrich himself and his family but this is about the National Security concerns when you have countries that our adversaries in particular china looking for openings, of political operate ifrz, officials may be subject or susept ible. We put a spotlight on Chinese CommunistParty Every Day we are wondering where this is going what do you believe most damning to evidence approve what you just said. I think it is the the 20 phone calls that joe biden said i did not do the 20 Shell Companies over 20 million dollars, and when you find checks like the 40,000 dollar check that came directly from the chinese to joe bidens Bank Accounts no account those things creating solid paper trail that shows there is proof what is being done is illegal by biden family. 40,000 dollar check was 10 of 400,000 dollars that came from china; correct . Yeah, that is correct, think about yesterday maria, joe biden gets 8milliondollar book deal part of the point i was trying to make in my testimony, this is a pattern of conduct by joe biden, trying to enrich himself. Maria all right. We will keep following it tom tiffany in d. C. We are just is Getting Started quick break President BidenPresident Trump set for 2020 rematch in 2024 bidens Approval Rating plummeting as trumps picks up steam many the hot topic of the hour coming up next you are watching mornings with maria live on fox business. 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Former President TrumpPresident Biden official they have won enough to clinch primary nomination it is former president reacted yesterday on x, watch. Republican National Committee has just declared us the official nominee were not taking time to celebrate we will celebrate in 8 months when election is over, november 5 i believe will go down as most important day in the history of our country. President biden said i am honored Broad Coalition of voters representing rich diversity of the Democrat Party across the country put faith in me again to lead our party and country, in the moment threat poses is greater than ever hearing this all year. Adam i wonder if he wrote those or one of his handlers wrote them very well afraid of thoseed phrased. Lee he clinches nomination first thing issor i think interesting. Maria hearing this all year going to be titfortat all year. Non if something was accurate did his Broad Coalition, i am not so sure that joe biden accumulated a Broad Coalition i think has antitrump World Democratic Party that went to polls,there in various states lets recommend he lost a lot of people who voted uncommitted or not committed not picking a candidate because of the response to the hamas israel kwar will he bring walk in the fold before november 5 remains to be seen a will go long way in states like minnesota michigan. We know who are shaping up for 2024 election a new report valleys robert f. Kennedys, jr. , Vice President short list considering new york jets quarterback aaron roirjz, and Jesse Ventura as running mates the four time nfl mvp publicly supported kennedy what do you make. Adam i think absurd, just say no doesnt matter it in tickets wont work remember in ross perot split tickets fantasy on other is nikki haley would join him come on. Maria when i asked President Biden couple weeks ago what the criteria for choosing your running mate i thought he had a very smart answer saying look it has to be that that person is ready to step in, things happen. Right, right. Maria you know your Vice President can one day be president. Aaron rodgers. Lee no thank you. Maria can you take this serious i would like the joke to close us out, please. Maria [laughter]. Lee the thing i think fascinating, has taken he does have great traction, attention, i thought response very well received people starting to take him more he seriously as alternative. Guaranteed to watch numbers shrink. Resonate, with america. I zarnt if Aaron Rodgers ends up running secret Service Protection will be way better than protection for jets offensive line. Look who wrote that wanted to use it on my show didnt get a chance lucas that was for you. Maria markets on move hotter than coupled cpi looking to ppi out tomorrow morning we were ahead of it with Piper Sandler chief commitment nancy lazar, you are watching mornings with maria live on fox business. When i was your age, we never had anything like this. What . Wifi . Wifi that works all over the house, even the basement. The basement. So i can finally throw that party. And invite shannon barnes. Dream do come true. Xfinity gives you reliable wifi with walltowall coverage on all your devices, even when everyone is online. Maybe well even get married one day. I wonder what i will be doing . Probably still living here with mom and dad. Fast reliable speeds right where you need them. Thats walltowall wifi on the xfinity 10g network. Back, take a look at futs, mixed market dow industrials flat up one point nasdaq now lower by 34 s p lower by one point after pretty good rally yesterday stocks closed higher with dow up better than 200 points at the close s p 500 finished a new record high yesterday, and nasdaq was led by chip stocks Nvidia Nvidia leading the charge, to that 240 plus gain for the nasdaq, the stock, was up better than 7 yesterday after the Semiconductor Index down two days prior worse less than more than two months nvidia up again another fraction extending yesterdays 7 gain Piper Sandler chief global economist, i want to start on ai boom you said this ai boom is slowing down, construction, tell us more. So we do expect Capital Spending ai related hardware strong increasing about 20 companies starting to cut back on other couple expenditures the chip, demand construction of factors at the same time a surge in the cost of buying equipment for those face, cost of construction so now you are actually seeing companies counseled and or slowdown the development of some factory projects announced a couple years ago, so real bifurcation within Capital Spending passed by u. S. Attorney unfortunately ai related capex only 10 of capex not enough to alter overall picture from gdp perspective is we and a slight decline in capex commercial real estate continues under a lot of pressure, construction or not, office buildings, we think construction a lot of factories again that was, chip, set to slow down in 2024. Maria this is a really important point that you are making nancy, because i watch big capex spending as indicator of broad globally story macrostory if you are being big purchases Companies Ceos at companies slowing down overall capex numbers does that impact the macro gdp story. Good point. We saw Fourth Quarter announcing delay of being factories. He is about a first and foremost Interest Rates up second things trending, particularly in commercial real estate of the economy, so we do think this is an capital of the lag effects of all that to fed and banks on so slowed but creeping into broader effect of economy leading to more general not outright recession into second and Third Quarter by the way, i would have expected even bigger impact since Federal Reserve raised rates 11 times, i would have expected a bigger impact not just capex but whole host of growth areas, for Corporate America being are you surprised we havent seen aing bigger dent in Economic Growth as a result of 11 rate hikes. Something i should have done last year i did this year, on average how long does it take for fed rate cycle to negatively impact economy on average 10 quarters not four, not even eight quarters on average 10 quarters we are right now in quarters moving into timeline in lag effects of time established should have negative impact, so i think that we had a couple false starts, Third Quarter 2022 expectations 2023 so view that will have we tend to agree with that, we think moving into that period, as we go into again second Third Quarter 2024. Maria 10 quarters very good info i like what you wrote in recent report about canceled project mentions quote unquote in Companies Earnings call you say tend to correlate inversely capex planned canceled plans significant in Fourth Quarter. Absolutely goes back to cost can have capital, the demand a surge in prices on constructing factories over almost 40 , past three years cost building a Factory Companies talking about what may be prices were, now 40 higher as a result, squeezing budgets with costs, in turn starting to cancel projects we have our data where we monitored Capital Spending plans we similar conclusions there also in our data has seen clear, is companies, into the United States or capital plans in 2020, 2024. Maria you list them i love you list number of companies that actually mentioned it, what do you think about the rest of the year and thefrz rate cuts we are hearing so much about nancy fed meeting next week, march 19, 20, yield on 10year right now all the way back typical close to 4. , as 4. 2 Federal Reserve pick off that Meeting European Central Bank policymakers