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wednesday october 4, 6:00 a.m. on the east coast. today remote on capitol hill gop lawmakers meeting all day to discuss who will take over for kevin mccarthy after the california congressman was ousted from his position yesterday as democrat side with a republican to lead the motion to vacate the speaker's chair. >> the one thing i will tell you, doing the right thing isn't always easy but it is necessary. i may have lost about today but as they walked out of the chamber i feel fortunate to observe the american people. i will not run for speaker again. i will have the conference pick somebody else. i hope you realize every day i did the job regardless whether you underestimated me or not. maria: the impact on the markets, the academy and policy coming up as investors this morning are focused on spiking interest rates, another selloff in stocks all leading back to

bad policy, coming up my exclusive interview with bond investor jeffrey coming up, where the rates had next and how is he investing. futures indicated a mixed opening, take a look at the dow industrial higher but the nasdaq negative with the yields up again, take a look the dow turning negative for 2023 yesterday and take a look at the ten year yield right now up another two and half basis points this morning sitting at . oil prices this morning have been a factor this morning. were looking at another pullback, the price of oil down about 1% of a level of $88.26 a barrel, another market mover on the way private payroll data from adp at 8:15 a.m. eastern weekly jobless claims out this morning they will be out thursday and the all-important jobs report coming out on friday, live jobs data on the way european markets look like this. take a look at the eurozone higher across the board

fractional moves. asia overnight, shanghai composite closed for a week long holiday in china. the other averages lower. joining the conversation bull's-eye american ingenuity fund portfolio manager adam johnson. fox news contributor and columnist for the messenger joe concha is your imposter of lansky and partners leak harder. "mornings with maria" is live right now ♪ ♪ ♪ ♪. maria: time for the hot topic of the hour. house republicans are scribbling to elect a new speaker this morning after eight gop lawmakers joined the democrats voting to oust kevin mccarthy. fox business correspondent hillary vaughn covering the story in washington. good morning. >> republicans on capitol hill waking up with no speaker after

ousting speaker kevin mccarthy they have no party leader or plans to pick a new party leader and tell an election next week. former speaker kevin mccarthy saying last night that he thinks congressman matt gaetz who is the one who prompted the motion to vacate did so because he is a personal vendetta against him. >> we all know matt gaetz. you know it was personal and had nothing to do about spending and nothing to do about everything he accused somebody of he was doing i seen the text it was all about his ethics, that is alright. >> case is under investigation by the health ethics committee and allegations in sexual misconduct, illicit drug use and illicit campaign money, mccarthy said not gates to campaign was

lashing out to not putting a stop to the ethics investigation vacate onto matt gaetz denies that and says he doesn't know who should be speaker but mccarthy should not. >> it's totally false. and the most investigated man in the entire united states congress. i've been clear by the fbi, the d.o.j., the federal election, we should elect a new conservative trustworthy speaker immediately. this is not the time to go home for a week. we should stay at elected new speaker. >> one that is majority calling republicans overnight steve scalise. meeting with a group of texas republican members today, powerful voting block tony gonzales announcing last night scalise has his vote, jim jordan could also be a pic if you were to launch a campaign, jordan is making calls getting a feel for where things f stand. thomas massie backing jordan if he wants the job. another name former president donald trump, texas congressman troy now says he'll be nominating him and marjorie taylor greene, trump blasted republicans yesterday condemning them for the interparty drama

telling them the focus on taking on democrats not targeting each other in sources telling fox the overnight republicans have been in touch with this idea the former president trump to draft him for speaker in sources telling fox that trump might be open to taking the job at least on the short-term. maria: i also heard the name byron donalds as well, is that a factor? >> we are seeing names pop up, because the boat is next week there is going to be a lot of names that pop up between now and then to really see where the party can coalesce, who they can coalesce behind. maria: thank you very much we will be following that. hillary vaughn let's get some commentary. lee, your thoughts. >> it's pretty unbelievable all of this happened is a big problem for republicans who promised to be the party of law and order and the republican

party seems to be the party of chaos look at what's happening with donald trump and here it's hard to know where stability lies and i think in this moment this could've been a real moment for republicans to be taking a victory lap and republicans could've done a lot of things besides having this fight. it makes the party look weak when you can have eight people basically overturned. the irony of all of this, matt gaetz as part of this that mccarthy made deals with democrats in order to settle and keep the government open. these eight made a deal with everyone of the democrats to get mccarthy out. i think it is not a good look. maria: part of the issue this group of republican conservatives want a heavier hand against the democrats and they wanted kevin mccarthy to do more to stop the reckless spending, stop the corruption. i don't know what more he

could've done, he started the committees by all accounts many people think he did a very good job. >> i think he did do a good job. what he did was also quite presidential in terms of figuring out nicely presidential because he showed leadership, figuring out a way to cross the aisle and get a spending deal done that republicans and democrats could support, there used to be a time in our history not so long ago that people would cross the aisle, ronald reagan did it i hate to give bill clinton credit but he was good at crossing aisle. maria: newt gingrich came up with the contract with america. for america. there's a long list of potential replacements for mccarthy, the names being considered, new york august and elise stefanik, house majority steve scalise would be the number one behind kevin. he is now leader. judiciary committee chairman jim jordan is being talked about for

the congressman byron donalds. some are suggesting former president trump as you just heard. texas congressman troy nails posted that on x, with florida congressman greg steube says he wants trump to be the speaker, your thoughts. >> it would be the greatest entertainment in the history of entertainment if donald trump is made speaker of the house. you have to be a member of congress to be a speaker, you could be speaker, anybody can be speaker, picture the state of the union address and the faces that donald trump would make behind joe biden during the state of the union to get for that alone i am rooting for this. however, all of that said elections do have consequences. the fact that republican only got the house by a slim margin may kevin mccarthy's job almost impossible when you had the rebels within the caucus. the bottom line democrats control the senate and the white house and compromise had to be done that's a dirty word in

washington as it was with reagan and clinton. maria: we have to agree that this idea that one member could throw you out. >> 75% of americans want to see more compromise this is not the way americans want to see the government run but it is the way the extreme wants to see and it's really unfortunate. >> democracy is messy and were to be on it. will take a short break, mccarthy voted out as house speaker, what does that mean for the impeachment inquiry against president biden and the budget as consumers face another deadline congress is facing the deadline. 45 days to get the appropriation bills done. ben cline is here to tell us more, don't miss that. you are watching "mornings with maria" live on fox business. ♪

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>> it says something about people who are not conservative, you all know matt gaetz. you know it was personal and had nothing to do about spending, everything that he accused the video he was doing. it was all about getting attention from you. were getting e-mail fundraisers from him as he is doing it, join in quickly, that is not governing, that is not becoming a member of congress. maria: those california congressman, now former speaker of the house kevin mccarthy yesterday after eight republicans voted him out as speaker. the first house leader in american history to have his gavel taken away. north carolina congressman patrick henry is a temporary house leader until there is another elected. when we virginia congressman ben cline of the judiciary budget and the preparation committee. thank you very much for being here. where are we in the search for a new speaker.

>> there could be a lot of conversations going on today in washington as members go home i wish we were staying here to elect a new speaker right now because time is short and we have a lot on our plate. the american people sent us here to get things done and we are driving this republican majority is driving down the field to use a football analogy because the players want to switch to quarterback during the drive does not mean we can't stop driving to address things like the border, the inflation rate, crime in our communities, all the different things challenging us right now that we could address in a deep bench as you said in your intro, will get a new speaker here shortly that will help us address this. maria: why aren't you staying there to elect a new speaker? >> i don't know mchenry is the speaker pro tempore he made the decision to send us home for the weekend. there has been a lot of dissatisfaction with that. we would like to stay in

washington to make sure we get it done. the continuing resolution that was adopted, i voted against it because i did not want to see a continuation of the pelosi policies. it expires in 42 days so we have got to get the job done. we've only done half of the appropriation bills, with to get the other half finished and across to the senate and conferenced and set to the president before the government comes up on the new deadline. maria: i want to get to that and find out your thoughts on what needs to get done in terms of the appropriation bills and what's most important. i want to start with you on the judiciary committee. what is removing mccarthy as speaker into your investigations of the weaponization of the federal agencies and the biden influence peddling schemes we've been talking about everyday. are those investigations in jeopardy? >> the information that i received in the conference meeting yesterday was committee

activities can continue but all four activity stops. we still have two bills that appropriation have to get to the floor. apparently we can work on those. but the bills that were sent to the floor, energy and water and legislative branch appropriation were supposed to be on the floor this week. they are not. because the authority is so limited with patrick mchenry he cannot put those on the schedule for consideration. most business has to stop until new speaker is elected. hopefully we will have a new speaker that embraces the investigations and does not cut a deal with democrats to stop them. that is a fear that there is a rump group of disaffected moderates who decided they want to join democrats in taking control. that would be unacceptable. the american people want republicans in charge in the house and the majority of the conference is conservative so we have to conservative leadership in our conference.

maria: what happened, was it just that mccarthy had to keep the government running and had to work with democrats to do that because he did not have the votes on the republican side? walk us through exactly how this happened. >> there has been unhappiness building over the course of the summer about our spending bills, the fact that they were moving fast enough in extra time to get the job done and how we went about spending the fiscal year was a point of contention in those eight who decided to challenge the speaker essentially did not support the continuing resolution and for them it was a redline. and the rest of the appropriation bills went over the next 45 days before we made decisions about leadership but for the eight there part of a team member to continue to move forward as a team and replacing

the quarterback right now may be a challenge but democracy is messy and we're going to get the job done. maria: democracy is messy. >> event to the government sector run out of money in mid-november, yet the 42 days now and the member of the appropriation committee one question how come this was not done september 30. what happened that kept stopping these bills from coming to the floor and getting marked up, what's most important in terms of the remaining appropriation bill that you need to get done can you address on 42 days. >> i think we can but we have to focus and kevin mccarthy made a promise at the beginning of his tenure in january that we were to get the 12 appropriation bills passed through the house and regular order and we needed extra time to get it done and to some including the eight that was not regular order but the

debt ceiling negotiation really push the calendar forward and this summer we did not move as aggressively in july as we should have. i'll leave it to the leadership to decide why we didn't do that. we went home for august break. we probably should've stayed to get the appropriation bills d done. there's a lot of hindsight looking back at what could've been done differently but we are where we are and we're going to move forward as a team united to address these appropriation bills in the remaining days and a way to shut down here in october. maria: let me just ask you real quick who do you want to see a speaker. >> fortunately we have a great number of candidates as you s said, the bench is deep to use a football analogy and joe concha gave us the visual of the day with donald trump sitting behind joe biden and i chuckled when i heard that. there are a lot of candidates

that will be discussed today in over the weekend. we hope to have what are the great leaders as our new speaker next week. maria: thank you we will be watching all of that. ben cline. thank you so much. a quick break markets are moving after kevin mccarthy was removed of house speaker, were looking ahead to major week of jobs we have the adp report out this morning at 8:15 a.m. eastern, keith fitz-gerald is here with expectations. plus i spoke with the leading bond investor the ceo and cio of doubling capital jeffrey gundlach, he's going to be joining us on markets, the academy and spiking interest rates. don't miss my exclusive interview. wait until you hear what he says about the macro story later on this year. it's pretty negative. i will walk you through. stay with us. ♪

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maria: welcome back let's take a look at features after the doctor negative for 2023, the dow industrial up 32 but the nasdaq is negative down a fraction. s&p up just two points were looking to interest-rate spiking again this morning. take a look at the tenure, up one another basis points right now, the ten year now hitting a 16 year high of 4.80% cleveland federal reserve president loretta said she's open to another rate hike if the economy stays on the current path while atlanta federal reserve chief

rafael bostic sees only one rate cut near the end of 2024. i spoke exclusively with the ceo doubling capital one of the leading bond investors in the world jeffrey gundlach and whether the fed will actually start cutting rates/year. >> does the fed cut rates next year? >> i think they will. i think most of the forecasts for what will happen next year are implausible there is a lot of forecast that there is 50, 75 that in that is a no man's numbr for me i don't think they cut it off economy doesn't slow down if employment does go up it inflation gets a little bit of afterburners because we oil backup at 90 and things like that. they may not cut at all but if they cut it's going to have to be in response to sort of an economic shock which will be a recession. maybe that would lead to a cut of 100 basis points as a first cut that could happen. i think that is more plausible.

maria: joy to be the fitz-gerald principal keith fitz-gerald. when i spoke with jeffrey gundlach yesterday i was taken back by how negative he was. he is expected the economy to turn pretty sizable lower coming up and he also expects interest-rate to keep going higher, that would not bode well for the stock market, your thoughts. >> i agree with a substantial portion of what he said. my view the fed hikes once more this year end probably again in q1 2024 before they even start thinking about a cut. an economic shock is definitely going to be the driving force but the situation is very eerie and reminds me of the onset of the global financial crisis in 2008, nine. maria: where are we in that, do you think we want to be selling into any rally? >> it's interesting people ask me all the time, i do not want to sell, the market is odd the

only place where people fear a cell. i like the stocks that i own an uncomfortable with the horizon that they operate on. i like the business prospect. if anything i'll go shopping and more in the lower against the more aggressive i will be. maria: i think it is interesting it is been the tech stocks that have been those really early way on the market. the tech stocks are selling following the worst month of the year, rough start to october. nasdaq and oma 7% since september 1. intel planning to turn a chip division used at telecom industries into a standalone business, starting in january with the plans to sell shares at an ipo within the next three years, that stock is up but your thoughts on the reversal of fortune for big tech. >> you are right tech stocks are down, s&p 500 or down, they look at the s&p 500 in the nasdaq more than 90% of the components

are trading below the 50 day moving averages, that is a washout. we've only seen the five other times and each time a great buying opportunity. keith makes the comment that is looking to do some buying. believe it or not as hard as it is and is comfortable with stocks down as much as they are i too have been buying. i think were close. overnight the 30 year bond went about 5% for the first time in over 20 years. that is what the future traders wanted, they wanted to take it down to the critical level. you may see bonds start to find some support. if bonds find support you'll see stocks rally considerably. maria: what about that, when you look at the big selloff in tech is largely because a spike in interest rates. were not expecting that. >> i just lost you. maria: we will keep talking and hopefully you will get it back. it's a spike in interest rate that has been an issue. the thirty-year is up to 4.941%

as interest rates, mortgage rates race toward 8% behind not seen since the end of 2000. are you with us? adam, would you look at mortgage rates, that's the key to the slowdown and housing will we see that reverberate throughout the economy. >> it's hard to say and i'll tell you why. sounds like i'm copping out but i'm really not. the thing is you cannot afford a mortgage right now it's gotten too expensive, what you do you go out and rent any for driving up rental prices, home prices whether rental or homes that we buy account for over 30% of the cpi the consumer price index. as much as i want to see housing back off, the fact that rates are high and you cannot afford to buy a home means you're going out renting that's keeping the housing cost tied which is unfortunately keeping cpi inflation high.

maria: i spoke with jeffrey gundlach. keith fitz-gerald will catch up soon. i have my exclusive interview with jeffrey gundlach coming up this hour. he talks were expecting rates as well as the broader economy. don't miss the interview coming up. amick is are feeling the impact of skyhigh inflation everywhere but especially at the grocery store. food inflation up better than 4%. stew leonard is here to discuss the rise in prices. stay with us. ♪. maria: this week on warnings with maria. tomorrow our panel of experts bring up the morning with the biggest buzz stories and friday were all about jobs, the brand-new unemployment rate revealed here live all right here on warnings with maria.

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maria: breaking news overnight, five people shot including four students during homecoming week at morgan state university in baltimore. cheryl casone it with the details. >> good morning this is an ongoing investigation, police are unwilling to confirm exactly how many shooters open fire into a crowd of students as they were leaving at pre-homecoming ball on campus. this unfolding around 9:30 p.m. bullet shattering windows at a nearby dorm, one student says it happened so quickly he hardly had time to react. >> the bullets hit the glass behind my head. it wasn't supposed to happen but it happened. we were all trying to get out of the way. >> baltimore police and the fbi

issuing shelter in place order. swat teams swarmed the campus. hunter biden leading not guilty of federal gun charges in federal court after a plea deal that would've dismissed it all and complete the fell apart the judge ordering the first son to get a job and avoid all alcohol as some of the conditions to avoid detention. his attorney slamming the charges say the charges are the result of political pressure from president trump in his maga allies to force the justice department to ignore the law. finally this the largest healthcare strike in our nations history expected to happen today, more than 75000 workers with a coalition of kaiser permanente unions in seven states can walk off the job. a spokesperson for the union saying kaiser continues to bargain in bad faith over the issues and so far no light at the end of the tunnel. all eyes are on us to prepare for the largest healthcare workers strike in history. the company responding every healthcare provider in the nation has been facing staffing shortages and fighting burnout. were all struggling to catch up

with care that was delayed in fewer people to help carry the work forward, three-day strike expected to go through saturday 6:00 a.m. to be clear a contingency plan in place for the hospitals, in particular. to make sure no patient suffered through the three-day strike. maria: that is important obviously. but the strikes are not sto stopping. how many strikes are we talking about in the last couple weeks the united auto workers, the service people in las vegas. >> that has not started yet but they're threatening. maria: now the threats from the healthcare worker. >> sag aftra. >> all of this is billions of dollars to the u.s. economy and is the suffering of the communities around the plans of the uaw that i find so troubling. shawn fain is not vague about that. maria: american consumers are reeling from food prices, up 4% annually outpacing inflation at

3.7%. a recent report from lending club shows 60% of adults are living paycheck to paycheck, the number and change from last year when inflation was actually higher. joining with the ceo stew leonard's grocery stew leonard is with us. rate to see you thank you for being you. usually we see a lot of activity behind you but it's only before 7:00 a.m. i guess you're not open yet. let's talk about pricing and what kind of changes. our using inflation and high prices come down as the headline number has come down or no? >> i think when we look at our prices last year versus this year, they are about the same, there is a couple of little clips like meat prices have gone up because the herd size of the cattle is lower so you see a little bit of a bump and meet right now, were hoping that will come down by the holidays but as far as other items, bananas are the same, avocados might've gone up a little bit.

a lot of this is supply and demand like right now in california, grapes and blueberries are high because of the hurricane that they had. a lot of customers are writing the supply and demand curve right now. maria: a lot of the retailers talk about shrink, that is the shrink of inventory because of all of the theft. have you had to grapple with that. >> here is something that everybody can look at. two containers of tunafish, don't they look the same. one is the leading brand at $2.99. this one is due leonard's at a 1.99 cents. this one is 5 ounces, ours is 5 ounces and national brand is . look at the two of them they look exactly the same. i would recommend check the package size. the big companies are reducing the size of the package and

keeping the price the same. maria: a great point. what i'm asking is shrink, the retailers call it shrink because of theft. have you had an issue with staff? >> huge problem right now, all retailers i talked to everybody, target, everybody is reeling, they're putting everything behind glass right now so people cannot steal anything. i said to one of the head buyers that target doesn't that hurt sales when you put a behind glass. people are stealing so much and increase sales so we have a security guard at the front d door. we have 150 cameras at each store and were watching customers as they come through. a lot of problems if you catch somebody the police, what are they going to do, they don't even react or come over and arrest them, you have to let them go. maria: that is definitely an issue. that is about bad policy.

i want to get your take on the upcoming holidays and what you're expecting. i see you have pumpkins behind you and halloween on the way and then thanksgiving. that is something, what are you expecting less than a month away from halloween tell us about your expectations for the holidays. we had one guest that said we could have one of the worst holiday seasons this year because of the slowing economy and higher interest rates. is that the way that you see it? >> i am usually a little bit more optimistic. we had a 500,000 pumpkins right now. i had to buy them contract three or four months ago. christmas trees we just ordered 50000 of them. i'm expecting this holiday to be good or better than last year. the customer accounts are up right now. customers are buying but they are putting one less item in the shopping cart. i am expecting a pretty good holiday right now.

i feel alive pretty good on the customer right now. maria: it's good to see you. thank you so much. >> one thing really quick read i gotta promote our pumpkin chili. sunday morning i took over your closet down in new york at the studio. when a tractor in the middle of new york city, animals and i'm ready to get on to talk about our chili and they said your segment went to two minutes and i said why and they said maria so i guess you went a little over or the timing i don't know was going on in the studio but anyway i wanted to promote our chili if you go to stew leonard's.com to get the recipe. great to see you. maria: happy halloween. >> happy holiday. >> house speaker kevin mccarthy is out how this will impact the market to the economy.

what about the reputation of the united states on the world stage. my interview with leading bond investor double-blind ceo jeffrey gundlach is next. "mornings with maria" is live on fox business.♪ ♪ ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines. about a cashew farmer from mozambique named carlos. carlos lifted himself out of poverty with the help of techoserve. go to technoserve.org and see how you can support struggling farmers like carlos.

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maria: welcome back time for the morning best, kevin mccarthy has been ousted as house speaker this happened yesterday and i spoke exclusively with double line jeffrey gundlach and here's what he had to say. >> kevin mccarthy has been ousted as speaker of the house and i know you have not read into it and don't know any more than that. your reaction, what do you think. >> it seems that crazy stuff is happening with increased frequency which is always a way that things spiral out of control. two weird things that have happened in the past week and this is one of them treated like a new low. i was talking to a middle east client of mine and he said was going on in your country is absolutely surreal. we could not believe how illogical and nonsensical and offkilter everything is. now were getting rid of the speaker of the house.

the shortest tenured speaker senses of the word. further defines the turbulent times that we're in it. maria: the turbulent times have to do with the policy coming out of this administration. i want to make sure we are not blending all of this together. the republicans are mad, mad as hell about what is happening with the democrats with $6 trillion of our winning two years and yes it was a shocker to all of us that mccarthy was ousted but this is a reaction to what the democrats and the white house have been doing. >> republicans are mad, the american people are mad and we saw a pull out a joe biden 36% approval that keeps drifting towards smithsonian levels at this point. it's not just about the economy is about inflation wages not keeping up with inflation. it is a fact that we now have credit card debt the past the

1 trillion-dollar mark in people don't feel safe in their communities with the crime that we just talked about and stores and communities across the country and the border is now wide open 7 billion people have crossed into this country illegally, do you know what 7 million is. maria: on joe biden's watch. 38 u.s. states do not have a population of 7 million. think about that, education is gone sideways, and still have a say in the. enter kids education in the ukraine war seems never ending with no endgame insight yet were giving billions to that country and not investing in our own. maria: 114 billion is the number that we are talking about and some people think it's much more than that. this is all the issues behind the ousting of kevin mccarthy. just to be clear the republicans are mad as hell about policy. they should be putting their ire on joe biden in the eighth and the republican party felt that kevin mccarthy was not doing

enough, that is what was behind this. >> it's unfortunate because republican party had very valid points the americans mostly agree with all of these issues. it is find that they are angry but you're absolutely right, they need to take it out on joe biden not within the party, here's what's happening instead of looking at the party of stability in looking at the party who's going to have answers, they look like the party of chaos at this moment and it does not help them it's not going into 2024, you donald trump been indicted, he is appearing in court and yet the speaker of the house who did not make it ten months. this is not a good look for republicans. republicans were looked at with the ones that have the answer on all these issues and right now they're looking like they don't have it together. i don't think it's going to be a good thing for republicans unless they can bring themselves together quickly. maria: everybody get in line behind nancy pelosi and signed the bill even though you did not read the bill and go in line with what she wants even though

it is reckless spending and forty-year high inflation, is that a better plan to stay united. >> i think it's not as simple and not black and white as saying everybody is getting behind nancy pelosi. there were a lot of things that kevin mccarthy has done that it been pretty extraordinary as far as putting the pressure on nancy pelosi's agenda, the democrats agenda. faqs look to all kinds of different things. i think the issue on the spending bill i understand why people are so upset. we have 45 days to put it together we did not need to to fighting in the middle of it. >> he did excellent job with the committee that he created the new what was most important in a committee on the weaponization of the federal government and he did it committee on the china threat and he did a committee on the biden influence peddling. >> all go back to a point that i made earlier which maybe some of

our viewers will find surprising. i think kevin mccarthy acted more presidential than any speaker we seen in a long time because he showed leadership and made some of those decisions and willing to do some compromise. as far as matt gaetz goes he is a disruptor i don't think he's a leader. the only thing i will give him credit for is putting his foot down to say we can't keep spending the way we are spending. the spending is out of control. i don't think the way to address spending was to force kevin mccarthy out. maria: how many times did mccarthy meet with joe biden during the debt ceiling debate and joe biden blew him off. >> i lost count. i know three but i know it was higher speed when he did he felt what he could do to stop the biden train and the democrats train was not enough. >> i want to know what to get to do differently now. that is the big problem. what is the plan, there is no plan.

maria: school leases trying to get support, byron donalds is trying to get support, they will have a speaker next week. don't miss my exclusive interview with jeffrey gundlach later in the program. one of the bond investors with interest rates at 16 year highs. i want to hear his strategy. a quick break, were talking about kevin mccarthy getting out from his position as democrat side with a republican to lead the motion to vacate the speaker chair. fox business hillary vaughn live in the capital. >> the list is growing as members throw their hat in the ring to take the place of former speaker kevin mccarthy. we will have the short list of who is gaining support and also what is next as republicans have the responsibility to try to avoid another government shutdown in november when government funding runs out. ♪

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maria: good wednesday morning, everybody. thanks very much for joining us this morning. i'm maria bartiromo. it is wednesday, october 4. it is just before 7:00 a.m. on the east coast. time for the hot topic of the hour. the house will vote next we'll to elect a new speaker after eight republicans joined with democrats to vote and oust kevin mccarthy. fox business correspondent hillary vaughn is covering the story at the capitol today. hillary, good morning. >> reporter: good morning. when congressman matt gaetz provoked the motion to i vacate he didn't have an immediate name

for who he wanted to take speaker mccarthy's place. so members are now throwing their hat into the ring. the list is growing. members that are in the mix, steve scalise, jim jordan, byron donalds, even former president donald trump. the vote will happen a next wednesday. until the gop figures it out they can't do anything and every day counts as time is ticking down on the short-term government funding extension they passed that runs out next month. not much time to pass all thrspending bills. >> we're in a freeze until we get a speaker in place. i support president donald trump. also steve scalise is a great option. i would throw byron donalds into the mix. >> reporter: patrick mchenry is not inter interested in the . he asked nancy pelosi to clear