tv Maria Bartiromos Wall Street FOX Business March 27, 2022 9:00am-9:31am EDT
♪ ♪ >> from the fox cities in newark city, it is maria bartiromo wall street. maria: happy weekend to open welcome to the program that analyzes the week that was an helpless position you for the week ahead. i am maria bartiromo. thiers growing as federal reserve chairman jay powell says it's going to take three years to bring down inflation. a new fox poll shows americans struggle with higher prices, marked on where things go from here. plus, president by and announcing new sanctions against
russia after meeting with european leaders. but the ukrainian president is pleading for more as the brutal invasion of his country enters a second month. house armed services member and former green beret commander of what the u.s. should be doing now. and a warning for the world's largest chip maker, ask now before it's too late sprit intel pushing congress for more investments in the u.s. semi conductor manufacturing business amid a global shortage to boost production and reduce our reliance on china. the ceo of intel, is here. but first let's take a look back at some the top newsmakers on mornings with maria and this edition of the week's talkers, watch. why does russia want mariupol? >> russia wants to be a symbolic victory for them. because in 26 days or tried to encircle comic to besiege.
maria: you say want to see preparations of covid 19 tell me about it customer. >> i think china exposes the existential wrister accompanist poses economic risk. >> this morning the italian prime minister says italy once ukraine and the eu. >> at the great step and from eight major company in the eu such as italy i think it's very important. we know others in east in poland or the czech republic. they're coming from a major western country that's for the positive. maria: tell me what you take away from this hearing so far. >> what i have taken with the hearing so far is that judge jackson clearly is a firmly placed in the progressive wing of the democrat party. but let's talk where it markets and a volatile week we had a big rally in technology that certainly help the markets cut losses and oil prices also on
the move as president biden announced a deal if the european union to export more u.s. liquefied natural gas at a move to try to cut reliance on russia, energy stocks also busy this week join me right now is mark matson. great to have it this weekend. how would we be allocating capitol in the face of all of this? ask one of the thing investors are taught is to state long term and your focus is you built your portfolio. the problem right now is to have so much fear, anxiety, work, inflation, and a pending recession possibly, is the long term gets crunched down to a short term. the problem with that is people then panic. when they panic they do crazy things like sell out of their equities, chase imprudent asset categories. many people are trying to take risk off the table selling equities but at the same time doing extremely dangerous things like buying crypto.
it's got to be a long-term focus and not panic it is never time to write panic if famous boxing quotas everybody has a plan until he get punched in the face and many investors are feeling punch in the face right now. >> i understand that parade there's a big punch in the face on growth early in the year but recently you saw a little bit of a pivot 8% gain on nasdaq last week. more money moving into growth this week. is that an area you want to own for the long term or not? >> i think that's dangerous. right now over the past several years investors have really loaded up on a large u.s. stocks. of those large u.s. stocks most of those have been tech stocks. they forget the lessons of the past if you forget the lessons you repeat the many pinker while people got sucked into tech stocks, large growth stocks in 2000 because large tech stocks made 44% a year they forgot what happened after that, tech stocks lost 75% almost all of their
growth they had had to have a dead decade from 2000 -- 2010 investors need to be globally diversified. they need to own a small, they need to own value and they need to be not so myopically focus on two things large growth and tech stocks is very dangerous. bit less about two issues investors are talking about now that is inflation and higher interest rates federal reserve of course started raising interest rates we are expecting a 50 basis points hike in the may meeting possibly another 50 basis point hike in the june meeting. how do you navigate higher interest rates? does that create competition for stocks in your view? >> i think it does two things for it does create competition for stocks but also increase a terrible downward pressure on bonds. because interest rates have been so low for so long, many people try to cheat out on the yield curve they have longer-term bonds are in each out a little bit of higher interest rates.
those long bonds as interest rates continue to creep up with inflation, those the types of bonsai get destroyed and upward interest rate environments. the fed really largely is handcuffed. they have to follow interest rates. many people think they set them they are really more fallen but interest rates are out in the market. so as inflation kicks income interest rates go up as interest rates go up bonds get destroyed. also people have been in junk bonds, higher risk bonds those will also get hammered as interest rates continue to grow. so a short-term high quality bonds. if markets do go down that you have high quality bonds to sell and rebalance and buy more equities while they are low. it's an easy thing to understand but a hard thing to actually do. maria: should buy the equities of companies that have pricing power giving inflations at a 40 or high? >> well, here's the way to look at it long term.
if you are concerned about inflation, inflation has historically been about the 3% rate. equities on the other hand of clocked in at 10%. so if you are concerned about inflation long term you want to own equities in your portfolio because they have a real return of about 7%. hard to predict exactly which sectors are going to go upward that's why you need to be diversified not just in the u.s., but also in europe, asia, emerging markets. sweet marcus good to see you thanks so much for joining us on all that. president biden overseas in a show of unity with european leaders against russia. critics say biden and nato are only showing weakness when it comes to dealing with putin. congressman michael walsh responds next. it's unfortunate right now mr. putin is deterring us and mr. putin is deterring us and riders! let your queries be known. yeah, hi. instead of letting passengers wrap their arms around us, could we put little handles on our jackets?
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maria: welcome back for president biden known poland after meeting with world leaders in brussels for a show of against russian invasion of ukraine. biden announced new sanctions against russia at a deal to try to cut off russian oil and gas. by ukraine's a president is asking for more. >> ukraine i see her plane so we do not lose so many people if u.s. thousand jet. but we have not been given an answer yet. ukraine asked for a percent, 1% of all your text to be given to us. but we do not have a clear answer yet. the worst think during the war is not having clear answers to request for help. spate a new fox poll shows americans do not approve of biden's response to the invasion and the wall street journal editorial board had this to say. we want mr. biden to lead and succeed in ukraine. but he needs to lead more decisively and with the goal not merely of military stalemate but of ukrainian victory. try to meet right now for the congressman house armed services committee member former green
beret commander, michael waltz. congressman it's always a pleasure. this is something you have said to me over the last month that this approach from the biden administration is coming with a feeling of inevitability that ukraine will fall. that it's not an approach of let's help ukraine win. tell me about that. >> oh well, that is absolute right. we continue to see it on a biden's trip. first, let's acknowledge deterrents to fail. biden's strategy and nato strategy to deter putin from invading in the first place failed. zelenskyy has been asking for the weapons to fight this fight for over a year i was out there last year they were continually denied, maria, the stingers, antiship missiles the things they need because it be too provocative. so that peace has failed. but now, now that we are low we
are we are providing them munitions we have to stop the false distinctions between this a weapon system or this jet is provocative and this is not. give zelenskyy what he needs to win. and stop pumping the brakes because you are letting putin deter us because you are afraid and letting fear drive our decision-making. zelenskyy and the ukrainians can come up we continue to give them what they need deliver putin a strategic defeat here. that will be a game changer for geopolitics for a generation to come. spate of what how will it change things? >> well, put them on number one both internally he is been shown the emperor has no clothes. that his military is not nearly as good as he advertised. heat modernize key parts of it, the special forces and his nuclear forces and is really blessed with those he is played
a pair of nines relate well over the last decade. but now the entire world has seen the flaws in his equipment, the flaws in his training, the flaws in his logistics. i think that will be a game changer. what we need to respond and the long-term, europeans at the step up and provide their own defense. they can defend themselves or we focus on china which is the true existential threat. maria: so what about this partnership ordeal that the u.s. made with the european union to try to fill the holes on gas? that the europeans went to cut off from russia. biden said he is going to be exporting liquefied natural gas to europe. where is it coming from? we know the president shut off energy independence on week one in office. >> that is the great question. so he stands on the international stage with the head of the european commission.
and says you need to get off russian gas and get onto liquefied natural gas. well where is that coming from? because his own energy secretary says we are maxed out in terms of our exports for it has a moratorium leases on federal land. his white house secretary continues to point to these 9001 used leases appear they are dry, they did not work for you to allow oil and gas industry to look for more. they also have a freeze on new terminals to get our natural gas. so really what that is code for, maria is we are going to look to carter who shares the largest gas field in the middle east with iran. early with that is all code for us we are going to buy i ronnie and produce natural gas to supply europe. you are basically trading one dictatorship for another dictatorship to provide europeans energy needs rather than unleashing american.
that is clueless, it's shameful it's ridiculous. spate and ironic, still the biggest sponsor of terrorist on the planet. congressman, what about the president on friday tying all of this to his climate change agenda? so on the one hand he is saying were going to help send elegy to europe. on the other hand he think we need to lean europe off the fossil fuels altogether. so once again the climate change priority was front and center. >> but the progressives won't say out loud right now, but have said in the past is that high oil and gas prices, high gas prices at the pump is an opportunity to accelerate the drive towards renewables. maria you are trading one dictatorship or another because of the core of the renewables energy industry is china producing the batteries, the wind turbines, the solar panels
and all of the raw materials it takes to have a green economy. china is the opec has cornered the market and is the opec of the renewable energy industry. you are trading a russia for a run for china all dependency models. maria: unbelievable. such dangerous times right now. congressman thanks for much for weighing in on all that. good to see you think a syrupy. >> good to see you maria. >> congress and michael welch joining as per the push from congressman crucial trip manufacturing back home to the united states also on. been away from china until ceo been away from china until ceo pat gelsinger is i didn't know you had dahlias, they're my favorite. they just came in. thank you. i should do a marketing campaign. clover does that. you're like a mind reader. secure payments, the tools you need, people who can help, we do that.
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back home. asian nations are now dominating semiconductor manufacturing during a global chip shortage but it is affecting not just automobiles but hundreds of industries and products and consumers. intel ceo erica mokay is calling on congress to invest $52 billion in subsidies to boost production here at home i spoke with the intel ceo earlier this week and asked why the u.s. is behind the eight ball in manufacturing such an important product? >> it really is a terrible situation. in 1990 we were 37% of the world supply between year old and europe at 80% of the world supply. today that is decayed to 20% between the u.s. and europe and just 12% in the u.s. half of that is intel. but we said with urgency, when he to change that vector for the future. every aspect of the digital world runs on semiconductors. digital keeps increasing. we have to reverse this trend very urgently. it's never the congress mode
let's get rid of the industry of semiconductors it was the asian voted very strongly to attracted 80% went to asia. that's how we are urgently passionately describing to congress they need for them to reverse this trend, to get the chips act passed. we are in a precarious time, maria if we don't reverse it not we may never have the opportunity to, congress must act now. spate i think you are right i wonder whites taken so long preaches that asia home at about 75% of the world's total semiconductor manufacturing capacity. you've been expanding factories into the united states as well as europe and i you are spending so much, billions in ohio you've got facilities in california and oregon and arizona. tell us about the construction and ohio. how is it going a what are you expecting in terms of potential
production? >> since i became ceo a year ago, we have aggressively laid out our investment strategy i have announce $43 billion in u.s. capitol in the last year. i have lowered my free cash flow negative for the first time in three decades. and lowering our profitability to invest for the long term. we launched our big arizona investment and weak ground broke on that a number of months ago. we are ahead of schedule on our building there. we announce the ohio investment i'm so excited about ohio, maria. now we are establishing the silicon heartland. from rustbelt to high tech manufacturing in the center such an exciting project that we hope to break ground on that later this year. we are getting enormous and enthusiastic support from ohio.
the entire midwest just announce the major education initiative there last week. we do hope that groundbreaking is preceded by the passage and funding of the chips acted. i have certainty on the radical investments we are making there. spate i love what you have done, pat, i think is so important to the country and the world by the way. you talked a little bit about your plan your analyst day back in february never the analyst talked about your plan to get growth up to start growing between ten and 12% by 2025 -- 26 a. can you tell us how you get there? what does the intel agenda look like in the next five -- ten years in terms of your spending on infrastructure and rnd? >> we look at a path to unimpressive leadership. and i'm investing to accomplish that. and by 25 unquestionably the
best. and that is going well. we have to get her core products to unquestioned leadership. in our desktop, client products and mobile are back to leadership. the server products about to announce a major new architecture which puts us back into it our role. i'm also going to watch major new businesses as well. were about to launch a graphics business line. we have strong mobility and autonomous vehicle product line. our position in the edge and inference for ai. a new business area. but maybe the biggest ones we have announce that has captured the industries interest is foundry barajas 20 manufactured chips for our purposes were going to manufacture wafers for the industry as well. and become a major u.s. foundry supplier preet opening up the doors wide. it's something we think is essential to reestablish american leadership and support. many of the companies in the
industry. we can go from low single digit to double digit growth rate. reestablish the unquestioned leadership of this iconic company and again put our nation and that leadership role. remember, you started the semiconductor industry. let's leave the critical industry where the oil reserves define geopolitics for the last five decades. let's find geopolitics for the next five decades right here on next five decades right here on u.s. soil. you know liberty mutual customizes your car insurance, so you only pay for what you need? like how i customized this scarf? check out this backpack i made for marco. only pay for what you need. ♪liberty. liberty. liberty. liberty.♪ ♪ ♪ only pay for what you need. it's electric... made extraordinary. ingenuity... in motion.
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interview so the senators at marco rubio and john brought supper along with west virginia attorney general, patrick morrissey. the show is live sunday on fox news. plus radio foxbusiness start smart every weekday from 6:00 a.m. -- 9:00 a.m. easter with morning's with marie on foxbusiness we hope you'll start your day with those without do it with us for now, thank you so much for watching. have a great rest of your weekend and i will see you next time. ♪ ♪ ♪ ♪ >> hello and welcome. this week on the wall street journal at large, president biden confused on his own messaging on russia and ukraine while meeting with nato members in europe. as they blame the president for spike in gas prices.
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