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tv   Mornings With Maria Bartiromo  FOX Business  September 19, 2022 6:00am-7:00am EDT

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larry: thanks for watching, folks. that's kudlow. please have a great weekend. maria: good monday morning, everyone. thanks so much for joining us. i'm maria bartiromo. it is monday, september 19. your top stories, you 6:00 a.m. on the east coast. today the focus on the federal reserve ahead of the meeting tomorrow and wednesday. markets are down as investors worry about another 75 basis point hike to be announced on wednesday and a slowing economy. the dow industrials down 277 right now, s&p down 36, nasdaq lower by 116. the two day september fed meeting kicks off tomorrow.
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yields meanwhile look like this, take a look at the 10 year treasury yield as rates tick higher along with the fed moves, the 30 year fixed rate mortgage hit 6.02% last week, the yield on the 10 year now at 3.452%. we are also getting some housing data this week, beginning today. the national association of home builders home builder sentiment report will be out at 10:00 a.m. eastern. president biden is down playing inflation saying the month to month rate has hardly risen and a he is telling the american people we'll get control of inflation. yesterday i spoke with white house doctor for three presidents and texas congressman ronnie jackson. he said the president's mental capacity is a national security issue. >> we can't ignore a lot longer. at some point we'll have to address this, explain to the american people what's going on.
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hi to ask multiple times to see his complete medical record, for the american people to see it, for him to do a cognitive test to reassure the american people he can do this. maria: we are breaking it down all morning long. last week, markets were lower. take a look on the week that was and the s&p and nasdaq wrapped up the worst week since june. the dow was down better than 4%, s&p 500 lower by 4 and three quarters percent last week. european markets kick off in the red, the ft 100 down 45, cock d. in asia overnight, red across the board, japan closed for a holiday overnight, the others down about 1%, the shanghai composite down a fraction. "mornings with maria" is live
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right now. and president biden is down-playing the u.s. inflation crisis during a 60 minutes interview last night. take a watch. >> first of all, let's put this in perspective. inflation rate month to month was just up just an inch, hardly at all. >> you're not arguing that 8.3 is good news. >> i'm not saying it was good news. it was 8.2%. you're making it sound like all of a sudden, my god, it went to 8.2%. >> it's the highest inflation rate, mr. president, in 40 years. >> i got that. guess where we are in we're in a position for the last several months it hasn't spiked. it has just barely -- it's been basically even. in the meantime, we created all these jobs and prices have gone up but they've come down for energy. maria: yeah, it's hard to explain it away. a fox news poll shows inflation is the top concern for voters
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heading into the midterm elections, 59% say they're extremely concerned about soaring prices, all of this as a new nbc poll finds democrats and republicans are tied on congressional preference among registered voters, 46 to 46% with 50 days until election day for the midterms the. joining the conversation can all morning long this morning, fox business' dagen mcdowell and founding partner, macro trends advisors almost lc and visiting research fellow at the university of san diego school of business, mitch roschelle. great to see everybody this morning. thank you so much for being here. dagen, your reaction to the biden interview last night on 60 minutes. dagen: that little tidbit of it was wha, wha, wha, i don't know, he won't admit anything about inflation because his fiscal polpolicies were in large part e
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cause of it. the american people know it's a hardship. 78% of voters polled by fox news say they have experienced a financial hardship in the last six months because of inflation. this administration has spent and borrowed an addition nearly $5 trillion and by not acknowledging it they can continue forward with their disastrous policies. like forgiving student loan debt, like the continued moratorium on making student loan payments. another thing. inflation, the pick-up month over month was broad-based. when you exclude energy and household durables, the gains month over month were widespread and as michael canterwitz points out the federal reserves looking at month over month inflation. you should do. core inflation is running north of 6% of.
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based on what joe biden has done in his time in office, this is what you would expect from him. it's just a complete -- he's caused financial pain for the vast majority of america and he's going to stick his head in the dirt. maria: look, i p mean, he was celebrating his inflation reduct act, so-called, while the market was crashing so he's not acknowledging this at all and by the way, he keeps spending money, he talked about a new deal with the rail workers last week, they want to ra raise of 14.1%. that's also stimulus and we also can't give the fed a break here, mitch, because let's remember what went on when jay powell was throwing all of this stimulus at the economy. at the end of 2020, treasury secretary steven mnuchin knew we were out of the covid emergency, so much so, he started canceling programs they had in place. he was canceling programs at the end of 2020. what did the fed do?
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they bought $120 billion of securities every single month of 2021 and into 2022 until march when they started raising rates. how is it possible that they were buying $120 billion of securities every month until they raised interest rates in march? >> and in fact, maria, the thing they were buying, they could have easily stopped buying mortgage backed securities. there's talk of the housing market and whether or not there was a bubble. if there was a bubble who inflated it? the fed. they bought mortgage backed securities when they didn't need to. the housing market was doing fine on its own. there is a lot of recklessness, whether it's the fed or fiscal policy and all of that yields the american taxpayer with a lot of inflation that they'll be stuck with for a long time. maria: let's not forget one other thing. why were they so reckless, why were they buying these securities, these mortgage backed securities until when
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they were raising interest rates, jay powell was looking at his potential reappointment. he wants to get reappointment and he's got lael brainard nipping at his heels, pushed on by the progressives so i would say there was probably a little politics going in there as well with all of that. dagen: but politically for joe biden, it was a disaster reappointing jay powell. now he owns not only the inflation that was created, fiscal side he owns it and monetary side he owns it with the reappointment of jay powell but also jay powell now because he's worried, is being so aggressive at raising interest rates. shoot, the one year was, what, at at a 12 year high of 4%. on friday -- now, you're going to have a deep prolonged devastating recession because of this. maria: and that is what so many
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are saying for 2023. i want to point our attention to what we're seeing on the screen. we've got more busses showing up at port authority. this is the second bus of the morning that has arrived in new york city port authority. we know that these busses have been consistent. we are going to take a break and when we come back we'll tell you more about these busses filled with illegal migrants that have just arrived in new york city. stay with us with my hectic life you'd think retirement would be the last thing on my mind. thankfully, voya provides comprehensive solutions and shows me how to get the most out of my workplace benefits. voya helps me feel like i've got it all under control. voya. well planned. well invested. well protected.
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>> there was no coordination at all with governor abbott and governor de santis just wanted to use this political ploy instead of understanding these are people, these are families, these are human beings. >> every time you hear from a mayor in new york city or the governor of new york or the mayor in washington, d.c. or chicago, think of these border communities, these border states, how you desperate they must be because this is their reality all day, every day, for
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a very long time so the federal government needs to finish construction of the border wall, end catch and release, enforce the remain in mexico policy, needs to support our customs and border patrol agents and stop incentivizing and rewarding illegal entry. maria: that was first new york city mayor eric adams, followed new york congressman lee zeldin, he joined me yesterday on sunday morning future on the illegal my migrant busses. all the liberals are talking about the border crisis, i guess no sanctuary after all if it's in their backyard. joining me now is forming acting director of immigration and custom enforcement, tom homan. great to have you this morning. thank you very much. moments ago we showed our audience two more busses filled with illegal busses, the busseses just arrived in port
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authority in new york city. we don't know where they're going from here. your reaction to what's taken place with governor abbott and governor de santis sending more busses to deep blue cities. >> i think it's a great idea. because you know what, maria. you and i both know this is the only network, fox news is the only network talking about the crisis on the border. a lot of americans don't even know there's a crisis because cnn, msnbc and the rest of them don't talk about it. i was on the airplane yesterday. i can't tell you how many stories i read from all these other networks complaining abot bussing of migrants. these governors made this a national conversation. they put the border crisis on the front page. they educated the american people. i think this is something we'll talk about in midterms and hold them accountable in the midterms because it's on the front page of every paper in the country. maria: it's incredible to me that, you know, all of those people having died, they drowned
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in the rio grande. nobody said a word about it. all of that fentanyl coming in, nobody said a word about it. let's face i we've got a record number of migrants having died trying to cross the u.s. southern border this fiscal year, customs and border protection saying 782 illegal migrants have died including 30 so far in september. now, because there were migrants dropped off at martha's vineyard we're hearing everybody talk about it. where were they when all of these people died? >> you know, where were they when this administration has flown or bussed i illegal alien, we didn't hear a word about that. two days ago kamala harris makes a statement these governors, their dereliction of duty is a term she used on these two
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governors, talk about dereliction of duty. she is a border czar. we have record illegal immigration. she hasn't done a single thing to slow the flow. this isn't just about illegal immigration. we have over 130 1300 migrant ts died in u.s. soil, a record. we're closeing in on 1400 deaths on u.s. soil. you've got children drowning in the river. you've got over 100,000 americans dying of fentanyl overdoses. you have cartels making billions of dollars. 31% of would h women are being y assaulted by the cartels. the mayors have put this on the front page and people are talking about it. they know the crisis is not just a an immigration crisis. it's a public safety and public crime crisis, a national security crisis because of the known suspected terrorists that have been arrested. i think the governors made a great move. i hope they continue doing it. maria: well, unfortunately i
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think we all know somebody who has died of fentanyl. it was a terrible story last week about a 13-year-old kid carrying 150 fentanyl pills in his backpack and the counselor took the pills out of the backpack and the counselor had to mead. >> i to the hospital because -- immediately go to the hospital because he oded, not because he took them, because he touched the bag. now we have this story. arizona police say a man in phoenix was overwhelmed when he found a mysterious bag left on his property with over 117,000 fentanyl pills. and nearly 50 pounds of meth inside in a pack at his door p step. it's not clear how the drugs ended up on the man's property. but what is going on? is the chinese communist party trafficking this stuff into mexico, into the u.s. to kill us off? why is all of these drugs coming in now? >> well, you're exactly right, maria. china is setting the precursors to mexico and the criminal
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cartels are producing the fentanyl. american people need to understand that the drug enforcement administration are record, 95% of the fentanyl that's killing americans is coming across the southwest border. why is that? you've been down there as many times as i have. there's such a crisis on the border, up to 70% of border patrol agents are no longer on patrol. they're in facilities, changing diapers, transporting migrants. 70% of the border unguarded and the criminal cartels are moving record amounts of drugs because it's unguarded and it's open. maria: here's one more stat to add to that list. right now, we've got 15 to 20,000 border agents. that's it. i was told that it was 20 of thousand. but then the head of the border patrol union told me, no, no, no, no, it's closer to 15,000. compare that to how many irs agents joe biden wants, 166,000. 166,000 irs agents so he can audit everybody versus 15,000
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border agents. what a crime. tom, thanks very much for being here. we will keep the spotlight on this certainly and we appreciate your leadership. >> thank you. thanks for of having me. maria: tom homan joining us there. we take you back to new york city to look at the busses that pulled up. first, we are watching the federal reserve this morning as the september meeting kicks off tomorrow. investors are anticipating a 75 basis point hike to be announced on wednesday. it could go a full percentage point. we'll take a look at investing. the world says good-bye to queen elizabeth the second as she is laid to rest today. we'll cover the latest on her funeral all morning long. we'll take you live to westminster abbey. you're watching "mornings with maria" live on fox business. ♪
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maria: welcome back. futures are indicating a decline at the start of trading this morning as investors are looking ahead to the federal reserve's two day policy meeting tomorrow. the dow industrials are down 300, the meeting of course is september 20 and 21, so tomorrow and a wednesday and we are expecting another 75 basis point hike when the fed completes that
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meeting on wednesday at 2:15 p.m. eastern. the dow industrials right now down 300 points, the nasdaq down better than 100. mitch, i guess the guidance is going to be also pretty important from jay powell and whether or not he continues to dig in on a consistent aggressive tightening phase. your thoughts? >> well, i think 75 basis points is probably baked in right now. he is very focused on the market and he saw the market's reaction to the inflation report last week and i don't think the fed wants t to sort of rock the markets more than they've been rocked. in the kentu the q & a that foli would like to hear what hes has to say about if the economy continues to slow, if they'll ease off the tightening program and that's really what the market's going to be focused on. quite hon ofestly, inflation -- honestly, inflation is sticky. it's going to be here for a while. he's eaten his words when he
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said it was transitory. the only thing on the fed side that they can do is continue to raise rates and try to buy time to see if inflation fixes itself. maria: yeah. but dagen, we've never seen a situation where the federal reserve is raising rates this aggressively and not going into recession. we've got massive predictions. i reported a week ago when i was with noriel rabini who said he is expecting a long and deep recession in 2023. goldman sachs has revised the gdp outlook for 2023 from one and-a-half percent to 1.1%, they're still looking for growth, dagen. you know more ceos are sounding the alarm on recession. most recently, the fed ex ceo said he's expecting a worldwide recession, dagen. so it looks to me like you really want to look at year end and into 2023 and tighten your belts because we may very well be seeing some serious curve balls thrown at us next year. >> not to blown my own bugle o
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so-to-speak but i predicted at the end of last year that this was going to happen. you can't have the kind of run away inflation that we saw last year and a federal reserve that didn't start doing anything about it until the end of the first quarter this year to fight inflation and a federal government that ti continued to fuel inflation even when it was already an intractable problem for the american people. i predicted on the fives new year's day special that the story from last year was inflation and the story in the coming year would be the collapse in asset prices and recession as the federal reserve tried to fight it. if you look at gdp now from the atlanta federal reserve, for the third quarter we had a contraction in the first and second, they're only predicting growth in the third quarter of half of 1%. so it's slow growth, like slightly negative growth this
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year but wait until next year when you have this complete colcollapse and a housing bubble created by the federal reserve that feeds through to the economy. jeremy siegel said last week, according to andy bener, at a -- he had a lunch with some people who went to wharton. he said the powell fed is the third worst fed in history and he reminded people he was speaking to that september of last year, of the 16 fed governors predicted where rates would be at the end of this year, eight of them thought there wo would be no rate incree at all in 2022. eight of them. so half of the fed governors. that's how moronic these people are. they're supposed to be the smarted people in the country but this is absurd, the level of iidiocy among the fed governors.
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maria: have you to put it in context. jay powell wanted to get reappointed. he had lael brainard nipping at his heels, pushed forward by alexandria ocasio-cortez and the progressives. he was afraid he would get the job. he flooded the system with stimulus and called it transitory. this is where we are. dagen: this wasn't just powell. this was eight of the 16 fed governors. maria: yeah. i can assure you robert kaplan wasn't on the list. he was a dissenter. and there were plenty of the list that said i'm a dissenter. thomas hoenig was a dissenters in 2010. in 2020 robert kaplan was a dissenter. the morning mover is take two. the video company down after an announcement that a hacker made
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one of the biggest leaks in video game history. dozens of videos were posted in an online message board over the week end. the hacker is looking to neglnegotiate a deal, asking the company to contact them. take two interactive software shares down 30% year-to-date, this morning down 6 and-a-half percent. it is a busy monday morning. stay with us. calling out bidens' bad policies, miami mayor frances suarez is here on the new op-ed and the best way to help americans that the biden administration seems to be ignoring. plus, honda tells employees to give some of their bonuses back. can you imagine? the bewildering reason coming up. stay with us. this... is the planning effect. this is how it feels to have a dedicated fidelity advisor looking at your full financial picture.
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it is monday, september 19th. futures are indicating another selloff at the start of trading this morning. investors are focused on the federal reserve, the dow industrials right now down 270, the s&p down 35, and the nasdaq lower by 118. we are looking at another week in the red for markets last week as the worries intensify that the federal reserve is going to raise interest rates by another 75 basis points tomorrow and wednesday and continue this aggressive fight against inflation. the s&p and nasdaq wrapped up the worst week since june last week. the dow was down 4%, but the nasdaq was down 5% and s&p was lower by 4 and three quarters percent last week. the selling continues this morning. meanwhile, president biden declaring that the covid-19 pandemic is over. cheryl casone with the details right now. cheryl. cheryl: maria, good morning. the president making the statement during an interview with 1 scott pelli on last nighs 60 minutes. listen to this. >> the pandemic is over.
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we still have a problem with covid. we're still doing a lot of work on it. but the pandemic is over. if you notice, no one's wearing masks, everybody seems to be in pretty good shape. cheryl: the comments and reversal from his administration that used the covid-19 pandemic emergency as a reason to end title 42 and justify biden's massive student loan bailout plan. well, the justice department asking an appeals court to put on hold parts of a judge's order requiring a third party review of the materials that were seized last month at former president trump's florida home. the doj saying that the lower court's move to block criminal investigations from reviewing the seized documents marked as cclassified would cause irreparable harm. meanwhile, the special master appointed to review the documents will hold his first hearing on the case on tuesday in brooklyn, new york. volkswagen targeting an ipo
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valuation for porsche in a range between 70.1 billion up to 75.1 billion. this would be a near record valuation for a european ipo. the third largest in history, the second largest german ipo we've ever seen. in a nod to the famous vehicle, 911 million porsche shares will be released. investors include qatar and t roe price. honda is under fire for asking workers in the ohio factory to repay parts of their bonuses because the company had been, quoters too generous. staff at the marysville honda plant were sent a memo given f g workers nine days to decide how they would pay the company can back. they had have the option to deduct the money from future paychecks or bonuses or write your boss a check or give them cash back. have you ever heard of anything like this before?
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maria: that is wild, cheryl. oh, god. i think they're going to have a hard time with getting that money back. cheryl: somebody might be calling their lawyer. maria: we'll watch it. thank you, cheryl. meanwhile, miami mayor francis suarez calling out president biden in a recent newsweek opinion piece, the mayor writing, quote, instead of appealing to our shared hopes of, biden stoked our deepest fears, instead of advancing an innovative national agenda he retreated to partisan divisions. joining me to talk about that and more and the success of miami is my a miami mayor himse, francis suarez. it's great to see you as always. thank you so much for being here. president biden campaigned on being a unifier, unifying this country. he's failed to do that. what should he be doing? >> well, that's precisely what he should be doing is unifying the country. that's what all public officials should do. that should be always our focus.
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instead, what he's chosen to do is demonize people who don't see the world the way he does. he hasn' done -- he hasn't done anything to promote innovation in areas that are extremely important, like education for example, competition in education. obviously the run-away spending has created all kinds of issues related to increases in rental prices throughout the nation which is causing a tremendous amount of pressure on team, increases in -- on people, increases in energy, increases the in food, historic inflation. cities like miami, we balanced our budget. we have surpluses. we have more money in our bank account than we have -- than we spend which i know is unheard of in government speak. but because of that, we have 1.4% unemployment. we had 12% growth last year, the second most growth in recorded history. so, you know, our president decides he wants to divide us,
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to distract us, i think, you know, we are in miami staying united and growing. maria: yeah. well, i think the growth numbers that you're talking about are just outstanding and the fact that you have a surplus. we're talking about the deficit growing on a national level and you're looking at a surplus in florida. what are you doing with that money, mayor, in miami? are you continuing to invest in innovation, trying to lure tech companies there to miami? how are you using that money? >> well, first thing we did was we did a tax cut. we have the lowest taxes in recorded history last year. i cut taxes. the second thing we've done is we've invested in our infrastructure. we know we're going to continue to grow. we grew by a big percentage last year. and we know that we are -- we have hurricanes an things we have to deal with and so for the first time in our history, fema actually reduced our flood risk, meaning that miami's actually
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less risky for flooding according to fema which actually reduces flood insurance premiums by about 5% for people in flood areas and it also goes against one of the large counter narratives that people across america have tried to brand miami as a city that's going to be under water in 10 years or 20 years. on the contrary. we've invested wisely. and fema has recognized it, reducing premiums and reducing our risk profile. maria: what are you expecting in terms of the economic backdrop, mr. mayor? because, look, you've had all of these big shots, financial services companies move their businesses to florida. many to miami. and yet they are also talking about a very tough economy in 2023, given the federal reserve raising interest rates and evidence that we're seeing demand destruction. what are you expecting in miami? >> well, i think miami's sort of a counter narrative and a beacon of hope. you have people my grating from
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across -- mgrating from across the united states. i think we're in the early innings of that process. because of the administration's incoherent foreign policy you have unfortunately countries in south america that are continuing to go socialist with colombia recently, brazil is teetering, obviously argentina, chile, venezuela of course, so that produces a tremendous amount of demand pressure for the city of miami, people my greating from those -- my grating from those countries to miami and that propels our country in face of the economic headwinds. maria: mayor suarez, have you seen a big impact from the wide open border. i knows your governor, ron de santis, put 50 people on a bus and sent them to martha's vineyard. in terms of miami, do you see a significant number of migrants illegally coming into my amly from the border? a lot of the ags say every state is a border state now.
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>> yeah. you know, miami is a bit of a different story because obviously miami there's so many people that are fleeing political persecution. we have a huge, very large cuban population here that fled castro's communism. obviously we have a tremendous amount ovens way lains that obvious -- of venezuelans that obviously fled. it's different in miami. we're accustomed to having immigrants from across the world. in terms of illegal immigrants, you know, it's not something that is a major issue for us. but it's something that's a major issue for this country in terms of having a coherent conversation on the issue and understanding that there are economic impacts and that it is a national security issue and i think unfortunately we haven't had a coherent conversation on it but i will say this. i think for republicans, there's an opportunity here. right we've seen in poll after poll that his panics are trending republican so i think there's an opportunity for
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republicans to be the solver on this issue and benefit politically potentially for a generation. maria: yeah. the hispanics populations are really moving to the gop because their issues are the same as the rest of our issues. everybody has the same issues. inflation, we want a secure place for our family, national security. mr. marks every time we speak -- mr. mayor, every time we speak you continue to look at the issues of the country and look for solutions and you have used miami as a real template which is why many people expect that you will have your name on the ballot in 2024 as a presidential contender. you were on this program last month and i asked you about a 2024 run for president. i want to play your response back then. heres' what you told me. >> look, it's a long way away. right now, i'm excited to preside over the presidency of the u.s. conference of mayors and try to convince other mayors across america that the miami model works, that they need to adopt it so they can create
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prosperity in their cities. if that continues to work, and if miami continues to be successful, then i think there is going to be a trimens does amount of -- tremendous amount of options available for me politically if i decide i want to serve. we're doing our due diligence and doing what i have to do as mayor to try to continue to highlight the things that are happening in miami which we think, again, should be a model for the rest of the country. maria: so mayor suarez, what have you been doing in preparation of a a potential ru? >> been doing my job. that's the first thing that i've been doing. you know, and of course, like i said, creating a huge counter narrative to what's happening in urban american cities we're hope any on the cusp of having -- we're three quarters of the year in to having the lowest homicide rate since the 1930s. we have the lowest tax rate in recorded history, since our government began, the lowest millage rate and i think keeping
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people safe, keeping taxes low, and leaning into innovation is a model for success for this country. now, you know, presidential elections are sort of a litmus test of the mood of the country and we'll see where the country's at. do they want someone who is inspirational and as a presentational and has a vision for the future? do they want a next generation candidate? do they want a mayor? those are all questions that i think need to be answered over the coming months for me to make a decision on something like that, of that magnitude. maria: well, you're coming off of a fantastic performance, mayor suarez. it's great to catch up with you. wow, 12% growth. what a model to look at. as we look ahead to a potential recession and a severe one for the country. mayor suarez, great talk with you. thank you, sir. >> thanks, maria. maria: we will be watching all of that. thank you so much, sir. quick break and then puerto rico completely without power this morning after hurricane fiona slammed into the island. we've got a live report. we will take you there when we
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maria: welcome back. more than 1 million people still without power this morning in puerto rico as hurricane fiona begins to bare down on the dominican republic.
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fox weather's will nunley is live in puerto rico this morning in ponce. will, good morning to you. >> reporter: good morning, an ongoing emergency here, as a matter of fact just seconds before our conversation we had yet another emergency alert sounding because of a flood emergency here on the island. we had that throughout the night. the rain has not ceased since it started about 9:00 yesterday morning in ponce, puerto rico. we had tremendous wind that continued well into the night. that left a tremendous amount a of destruction in its path. we're talking the entire electric grid offline this morning and there is no estimate on when that will be returning by the way. we have ongoing flash flood emergencies across the island. we have new readings this morning from the national weather service in san juan that have rain totals between 18 to 20 inches. it's going to continue to build because those totals are not done gathering yet. we have rescue operations underway, a lot to wrap our heads around here. the fox weather team is on the ground and we'll continue to
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bring you the latest from the devastation across puerto rico. back to you. maria: thank you so much, will nunley. we appreciate that live report from ponce. for more up-to-t date weather reports, head to, download that app and we'll keep you updated on what's happening across the country. coming up, millions around the world are watching queen elizabeth the second's funeral this morning. we are talking about had her legacy this morning. stay with us. ♪
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maria: welcome back. well, 2,000 dignitaries are now in westminster abbey for the state funeral of queen elizabeth the second. the proceedings are set to conclude at the top of the hour with a two minute moment of silence. a procession will take place through central london where the coffin will travel to wellington arch and be transferred to the state hearse. later today the queen will be buried along side prince philip in a private burial. joining me now is the director of the margaret thatcher center for freedom at the ha heritage foundation, niles gardner. thank you for being here. >> my pleasure. maria: it's been a beautiful ceremony all morning as we watch the country say good-bye to their queen. your thoughts on the proce
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proceedings. >> maria, thank you very much for having me on the show today. what an incredible day here in london where leaders from 200 countries are assembled in westminster abbey for a truly historic ceremony. queen elizabeth the second was on the throne for 706 years. 7 -- 7 70 years. she was the queen during 14 u.s. presidents and she was a leader who led by example, a leader of tremendous i think service, duty, sense of obligation to serving her nation and she is a hugely popular figure here in the united kingdom but also in the united states and across the world and the service today at westminster abbey absolutely stunningly beautiful and of course the service has been planned for many, many years, if not decades, and it represents i
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think in many respects the very best of britain today and what the british nation represents. maria: well, we will not see something like this again for a long time. dagen mcdowell, jump in here. dagen: nile, great to see you as always. i had the great pleasure of living in england when i was in the high school for some time and i love the anglican church. i will note the service today, i'm sure this is the queen's wishes, it's quite short. it's an hour, an hour church service, an hour funeral service but it's quite beautiful and you know that she had a great hand in planning this. >> yes. absolutely, dagen. great thoughts here. the service relatively brief, about 55 minutes, as the queen wished. she did not want -- she put it, a long, boring service so it's a
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glorious service, it's a service i think imbued with the richness of heritage and it's a christian ceremony. the queen was the head of the church of england. so a very moving, powerful service, but certainly a relatively brief service and i think this is exactly how the queen wanted it, surrounded of course by her family. but also by many of the world leaders who she developed a strong working relationship with and the queen was head of the commonwealth had of nations, 56 countries, 2.5 billion people, a huge section of the world. maria: wow. yes, we saw many dignitaries come off of the busses that were provided for all of the heads of state who were there, president biden of course is there but was able to take the beast, the
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total motorcade that he traveled in, he and jill biden. i want to ask you about the economics of her legacy. king charles, who is already worth $440 million will not have to pay tax on the inheritance from the queen. is everything being left to charms? charles? what happens to the queen's fortune? >> it's a very good question and of course king charles the third continues a legacy of queen elizabeth the second. you mentioned the issue of course of finances. and i would argue that the royal family of course generates a huge a amount of income in terms of, you know, the large numbers of tourists who come to britain of course to visit royal sites and so on and the royal family of course is really in many respects really the symbol of what britain is all about on the world stage and i would say th


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