larry: that's it for kudlow, thanks for watching, folks. ♪ ♪. maria: good thursday morning everyone. thank you for joining us this morning.

i am maria bartiromo. thursday april 11. 6:00 a.m. on the east coast. the inflation story unfolding, futures extended the losses of yesterday after the hotter than expected cpi decrease in the hope the federal reserve cutting interest rates in june. dow industrial down 95, nasdaq 1035 and s&p lower by 12 and three quarters after a huge selloff yesterday. this coming out of the march ppi number at 8:30 a.m. eastern, join is all hands on deck for the producer price index coming up. gold prices are treated this way, will get a gold 2348 an ounce flat on the session. investors are looking for a place to hide in the midst of stock selling off after the 500-point selloff yesterday. were following and previewing third-quarter earnings and with major banks. european markets under pressure today. s&p 109, the cac is fat joe flat in the dax index is lower by 80 points. the european making the decision

today at 8:15 a.m. eastern. we'll have a decision a commentary. a mixed story fractional move across the board, the biggest mover japan town a third of 8%. in washington alejandro mayorkas trying to save face admitting the situation of the border is a crisis and migrants who commit crimes should be deported. we will get into it. a blow to mike johnson agenda as they reject the renewal to pfizer. as jim jordan invites mitt jim merrick garland and christopher wray to testify on pfizer abuse. jim jordan will join me live at the 8:00 a.m. hour to talk about that and a lot more. joining the conversation ceo mark tepper, former bush 43 white house official ashley davison heritage foundation director cara friedrich. "mornings with maria" is live right now.

♪ >> time for the hot topic of the hour. it doesn't republican senators are planning to obstruct just later proceedings if the democrats table the impeachment articles against alejandro mayorkas. house republicans are delaying the delivery of those articles until next week. mayorkas testified on president biden's fiscal 2025 budget request. he was questioning on his handling of the border. >> i understand the challenges that the board and i don't dance around them. >> would you call it a crisis. >> yes i would. >> it was reported in january of this year that at a meeting with border patrol agents that you said the current rate of release apprehended at the southwest border is above 85%. >> i'm not familiar with that

number and i'm not certain to which conversation you are referring. >> president biden did not do anything to prevent this issue. it's become worse in chinese nationals as you may be aware the largest and fastest growing group attempted to cross intercountry. >> for the first time i had an engagement with my counterpart for the people's republic of china to ensure that china would begin to accept removal flights and we actually did effect one flight most recently the first time in a number of years. maria: one flight, and he just had his first meeting with his counterpart in china. 24000 crossing since october on top of another 20000 plus a year before. >> absolutely, this is one of the biggest crisis and obviously facing our country right now with the economy especially with what's been happening this week. what the problem is with the senate republicans when you're talking about them tabling the

legislation of the impeachment article when they come over. the motion to dismiss in the senate with procedural rules no senators are allowed to talk during the process. if leader schumer says let's dismiss these articles of impeachment no one in the senate will be allowed to talk about the impeachment problems. that's why they delayed the articles coming over. maria: you number what is he this trauma and games played in terms of what the senate republicans are going to plan to stop legislative action. but at the same time check into chuck schumer is trying to table the very important article of impeachment. >> i usually don't like the gimmicks either but i think this is a strong message and obviously you need 60 votes to get legislation passed but what they're saying were not to give you any votes and let anything go by ms. consent which is how little bills pass.

maria: mayorkas said the administration is weighing his options at executive action at the southern border. former president trump slammed biden as a result, watch this. >> four years ago we had the strongest and safest border in u.s. history, now we have the worst border anywhere in the world ever. there's never been a border like this. our borders have completely collapsed and many criminals are pouring into our country. we have them coming in from jails and prisons and coming in from mental institutions in insane asylums. were not going to allow what we have to win. maria: it's unbelievable you cannot write this stuff. >> you look at the reports that crime and venezuela has gone down in correlation does not equal causation. previous reports indicated that venezuela was sending their congress over here not to mention the terrorists that have been apprehended on the terrorist watch list. illegal aliens crossing the southwest border since joe biden gotten to office almost 300 of

those. this is the thing we fought them to keep them from coming over here. what was the point if they're going to come across the border with impunity. maria: it's incredible. all of these terrorist wannabes coming across the border the unknowns that we have no idea what their motivations are. >> were not getting the best people send us over your a.i. developers will put them through a process and take them. maria: the chinese nationals look like their engineers, they certainly don't look like the running for persecution. >> what were talking about mayorkas and this administration. if we take things back to the basis and look at the private sector. when you knowingly and intentionally go to your job you get fired immediately. you look at the continued employment of a bunch of people who don't do their job that's one of the reasons we have $34 trillion in debt, we continue to employ people who don't do their jobs. were not dumb we know what's going on at the border. there is a recent poll that says

57% of people agree that the border crisis is being facilitated for political advantage to create a permanent democrat majority. what's more surprising even 36% of democrats are admitting that is the case. we know what's happening. >> we know that from the census because the census has to collect the number of people in certain districts. if you have a lot of illegals in that district you're getting it more congressional space and congressional district. more congressional seats. >> even if they can't vote there will be more electoral votes going toward certain states. >> talking about venezuela we have a dangerous gang in new york right now which we will talk about. were just getting started a quick break the inflation story continues to unfold. investors turn to commodities is a market grapples with ongoing inflation the possibility of fewer rate cuts and previews

expected, president lee munson is here with his take on that i had of the march ppi coming out at 8:30 a.m. it's not just a perception problem, the real reason wealthy new yorkers are rejecting the prospect of moving into covenant brownstone makes a buzz. you're watching "mornings with maria" live on fox business. ♪ and can help you go up to 4 months between treatments. if you have an eye infection, eye pain or redness, or allergies to eylea hd, don't use.

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so how do you invest in gold? sandstorm gold royalties is a publicly traded company offering a diversified portfolio of mining royalties in one simple investment. learn more about a brighter way to invest in gold at sandstormgold.com. maria: welcome back take a look and features were looking at more selling pressure, the dow industrial don 103, nasdaq 1043, the markets extending yesterday's selloff after the dow closed down better than 400 points yesterday than the hotter than expected consumer price index decreased hopes that the federal reserve were cut interest rates as soon as this

june, the producer price index is at 8:30 a.m. eastern. economist expectation call for a gain of three tenths of 8% month over month and a gain of two and a quarter% year-over-year portfolio wealth advisor president and chief investment officer lee munson, good to see you, thank you for being here. we want to get your reaction to the cpi in the reaction yesterday and what you might expect today for the ppi. >> i think everything's going to be hot this is not a surprise my biggest fear is inflation getting higher and i don't think the fed hiked as much as they should have last year even though we complained about it but the market has been telling us this if you look at energy and energy stocks are up 20% from january and if you look at the price of gold it is up huge. the reason those markets are predicting that when you have gdp at 6% when you have the ten year rising 15% in yield almost in a straight linear line, what were saying the fed policies are

not working right now. he never made sense the burden of vitec on rate cuts the fed said they will be slow i think they will cut that it all be much later this year end this will cause a correction. it's not going to be election problems or the fear of november. it's good to be the fear of inflation and i'm waiting for the reaction and i think it's starting right now. maria: what he wanted you as an investor you mentioned gold and this is where investors can hide in the midst of pressuring unknown in the stock market but is this a place for long-term holdings, gold is upsetting at 2352, do you want to own gold. >> i don't only need right now if you client to own it. gold is predicting what's going to happen but word is a fault in the cash flow. if you own gold and take profits and go by energy stocks and bank stocks your major bank stocks are up more than the nasdaq this year, the doing well energy

banks are doing better than apple and better than microsoft that's could be something that we will roll tape through the summer it's going to take a while for the nasdaq to get the mojo back nobody wants to buy a.i. stocks right now because you have mega sellers like microsoft and facebook that one a profit before they seek billions and billions of more money in it together corporations are looking at t that. i think it's a classic rotation back to value for a few months and that's where you want to be. when you gdp almost 6% were not dealing with a low growth low rate money environment. maria: how do you get to 6%. >> if you look at gdp if this keeps inflating this way we're going to start seeing those numbers. here's the thing do i think really get there, probably not. when you see inflation will see cracks in unemployment. here's the problem this is the first cycle where unemployment

hasn't been as persistent issue in housing have a better persistent issue. what's making pros like myself it's a little bit different this time because we can't seem to get on employment taking up and because of that the classic cycles in the classic playbook are not working quite well this year. >> jump in here i don't understand this reaction with the 400-point selloff we all knew inflation was elevated and oil prices were above $85 a barrel and suddenly were surprised when the cpi is elevated. >> i want to talk about where oil has been going. you mentioned inflation is going to be a focal point for investors as we get through the year. wti at $86 a barrel. gasoline prices since biden took office up over 50%. i'm wondering once you have wti at or above $90 a barrel it becomes problematic in the 3c consumer discretionary stocks

begin to underperform. i would love to get your take on where oil and gasoline prices are heading. >> i think $85 a barrel is a problem in itself and i totally agree why are we surprised about cpi we've been talking about hot prints being the issue. the other thing because its economy is not slowing down that much why would energy be going down let's go back to a.i. for a second. the amount of electricity and more energy is that were getting need to run all of the new stuff is going to be beyond what a lot of people understand. it's not just oil i think oil goes higher as hard to predict oil. if you listen to people that run utilities there in the press talking over the last month or two saying we vastly underestimated how much electricity usage that were seen this year. it's all the farms that we've created a little disaster but

enough to pay with higher energy prices which is good to be attacks on the consumer and i'm waiting for that appointment numbers to take up that could be the next shoe to drop. i think really if you want to be an investor have adduce untrue diversification, by stocks that make money make cash flow and if you love a.i. we all do take a pause you might get a sale soon. >> let's get into earnings and first quart of reporting season begins with the major banks what kind of an early-season are you expecting. will inflation be an issue cutting into margins. >> i think it well the banks have made a big step in the right direction in terms of the price action but that's because of cost. if all the big banks bank of america wells fargo, citibank, j.p. morgan, if they continue on the tune of cost-cutting, that's not really negative for me. if we start talking about

inflation eating away that could snowball into her a lot of executives and ceos talking about this on weakness. honestly i'm not expecting a horrible earnings season but i think sentiment is going to get beat up and i think the consumer and us, the investor is going to think twice about committing capital i think we could see a buyer strike easily. maria: virus strike equal selloff in stocks. >> absolutely. >> how significantly would you expect worse than yesterday? >> oh yeah. we haven't seen down 3% days at all this year. i think we could see the s&p crack 5000 i would buy everything at 4800 even at 4999. maria: it's good to see you. lee munson joining us on market. morning river rent the runway the premarket of 42%.

shares of the clothing rental company skyrocketing after beating fourth-quarter earnings expectation. it missed on earnings but it peed on revenue, rent the runway revenue growth between one and 6% for the year expects breakeven free cash flow following casca contract cost cuts d got 91% a bounce back afr a rough year. house judiciary jim jordan inviting merrick garland and christopher wray to testify on the abuse of pfizer. texas congressman keith self is here with the renewal of pfizer next. stay with us. ♪

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“the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. >> we're going to try to find a way to unlock the rule and i think it's possible. >> when i was in the judiciary is on the abuses of fbi over and over and i went to the staff and got the confidential briefing from the other respective all not to understand the necessity of section 702 of pfizer and how important for national security and they gave me a different perspective. maria: that was house speaker mike johnson speaking to a group of 20 republicans voted against party leadership and the leadership backed a bill to renew a controversial section

702 of the foreign intelligence surveillance act or fisa. ahead of the vote former president trump writing this on truth social, kill pfizer it was illegally used against me and many others i spied on my campaign. has judiciary jim jordan who will join the program and the adm hour. he is now inviting fbi director christopher wray and attorney general merrick garland to testify before his committee the summer. pfizer is expected to be among the topics discussed there. joining me keith self a member of the house veteran affairs and foreign affairs committee and retired army special forces lieutenant colonel. thank you for being here this morning, your thoughts on the pfizer renewal. >> first of all i'm on the same team of the 19 the voted against the bill. a different tactic i want people to be on the record to vote for or against a warrant when they start surveilling u.s. citizens. we did not get that vote because they took down the rule but that's what i want i want to see

my colleagues in the house vote for or against are they going to up hold the constitution require a warrant before you surveilled, you basically spy on u.s. citizens or not. i think to me that the constitutional issue. we need a constitutional protection in this bill before we approve it. maria: maybe we would have a different conversation had the fbi not have their awful behavior by spying on american citizens because they didn't like donald trump. former trump campaign officials card or page and george papadopoulos have told me directly federal authorities abuse pfizer and spied on them. >> you had no idea that you were actually being surveilled. >> absolutely. >> my conversations intensified the month before my illegitimate fisa warrant in september 2016 when all the defamatory articles or be in place by the dnc. >> judge deary approved my final fisa warrant in june of 2017.

they were illegally breaking into my residence and taking unauthorized photos of my personal belongings. at the very same time there also paying the sky involved in the russia hoax and helped start russia hoax. >> had nothing to do with the russians but what the informants were actually telling me i thought was treason, donald trump and myself and the campaign had nothing to do whatever these people mention. maria: that's exculpatory evidence they did not present to the fisa court. >> that is absolutely correct they were cherry picking strange information. maria: congressman how do you get a handle on this. >> there were 278,000 viol violations. we need to realize the number is huge. how we get a handle on it we require a warrant from the fisa court before your surveilled a u.s. citizen. that is the minimum requirement,

this bill is a dramatic expansion of pfizer into counter drug and so forth and so on, the constitutional protection are my bottom line in i think the bottom line for the 19 and others in the republican conference, minimum requirement. maria: you decide 278,000 what? >> is a violations against u.s. citizens that was 278,000 violations by the fbi do we wonder why the fbi's credibility is low. maria: that's why there's a massive debate on whether or not to renew pfizer. it's obviously being used against the american citizens. texas governor greg abbott posted photos on x showing texas national guard reinforcing border barriers and adding more razor wire this is in el paso, they conducted airborne patrol along the rio grande. abbott writes this illegal crossings decrease in taxes

because of the border barriers and the resistance that we have built. it is working although the white house is fighting them tooth and nail to take the razor wire down and not be allowed to arrest anybody who breaches the border illegally. is this the right tact in terms of the razor wire would also be done to secure the border? >> we can do a number of things but frankly the razor wire is working. we've seen the cartel move the flow over to arizona and california. the governor's rights. the crossings are dropping in texas. you do not have to be perfect you just have to be serious about it and governor abbott is serious and is making a difference in a think the federal government ought to abandon their open border policy and they autostart supporting texas and i appreciate the governors across the state that are supporting governor abbott with various resources, both personnel and others to support governor abbott because the states are leading the way in securing the united states certainly on the texas border.

maria: even as the white house fights abbott every step of the way. you're now in your final push in terms of legislative action until before the election. you have now until memorial day. what is the priority, what gets done. i know the democrats want to push through the ukraine funding bill, 95 billion how will you vote there. >> i said all along unless we secure the southern border i will not vote for ukraine support. the southern border we must secure our own border to support any national borders. frankly europe is starting to step up more and more in the czech republic found 800 artillery rounds, germany and france are starting to step up. if the u.s. does everything on ukraine europe will be happy to sit on its death. if we hold off europe is stepping up that is the right

solution europe needs to defend its own borders in this case and they have not been. maria: we will be watching your work, thank you for being here this morning. keith self and d.c. president biden and japan's prime minister tightening military and economic ties to counter communist china dates to institute gordon chang is with me with his thoughts. instagram takes another step to protect teenagers on the platform. we'll tell you what they're doing now and whether or not it's enough. what you need to know coming up. stay with us. ♪

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maria: welcome back i people under arrest in philadelphia after shooting in the event commemorating ramadan. share consulted with the det details. >> three people shot including a teenage boy after gunfire rang out at a ramadan event in philadelphia. five were arrested. officers witnessed two groups shooting at each other in a 15-year-old open fire on a police officer in the officer returning shots hitting him in the shoulder in the leg and they should put the team in a patrol car takes him to the hospital he stabled under arrest the shooting started at the end of the festival which was packed with people. the u.s. military is on high alert as iran signals a good carry out a strike on israel in the coming days. iran's supreme leader saying when they attacked our consulate area it was like they attacked our territory the evil regime

must be punished and it will be punished tensions after an airstrike killed a top iranian general in syria last week president biden commenting about iran's threat to israel. >> we want to address the iranian threat to launch a significant attack on israel. as i told prime minister benjamin netanyahu, our commitment to israel's security against these threats of iran and its proxies is ironclad, let me say it again, ironclad, we will do all that we can to protect israel security. maria: finally, instagram is testing a new system that will blur out nude images and messages to protect teenagers. obscured photos and warnings will discourage them from sending and receiving photos with potential strangers, users who receive nude images through a direct message will see a pop-up that explains how to block it or report the chat and no beyond default with the birth years that correspond to teenagers. there could be testing this in the next few weeks. we will see how it goes, there's

the stock in the premarket. obviously this in the face of the huge investigation that the journal did found the instagram was harming teenage girls, detrimentally. maria: it looks like a good step back how long did it take them to take down the tiktok or who was telling everybody how to steal homes in squat and people homes. how long did it take for instagram or meadow to take that down. i think it was a long time a lot of days. >> the wall street journal investigation was two years ago and are just now testing something. there are 70 things on these platforms, facebook, and instagram that are offensive and horrible that i won't talk about but it's still out there. maria: i know the illegal migrant was on tiktok for longer but still he was doing instagram, making money on it and still making money on

instagram. anyway that's my rant for the day. >> president biden is hosting japan's prime minister and the philippine president today at the white house, this is the first meeting of all of the three together on china's increasing aggression in the south china sea that is the main focus. in a press conference yesterday the u.s. and japan agreed to tighten military and economic ties to counter communist china and the threat there. watch. >> based on the solid trust with our ally the united states we will continue to call on china to fulfill its responsibilities as a major power. >> we keep improving our lines of communication whether that's the united states and china. our alliance with japan as a defensive in nature and the things we discussed today improve our cooperation in our

purely about defense and readiness. it's not aimed at any one nation or threat for the region. maria: joining mitigates tone institute senior fellow author of the coming collapse of china and china is going to work. gordon chang back with me, what is your reaction to the meeting with the philippines and japan. obviously the entire region is feeling and impact of the aggression from communist china and the south china sea. >> this is a good move we see the region coming together and it's wrong for president biden to say this is not directed at any one country. everybody knows it's directed at china in the chinese know it and when we say these things the chinese look at us and say you americans are deceptive and deceiving us and in that sense they are right. we need to come out and say china is an aggressive state is threatening countries in the region in the united states and were going to band together to protect ourselves from china.

maria: at this point we have no evidence of what joe biden just said a minute ago in the soundbite and that the military is communicating regularly again. we have no evidence of that. the u.s. has been begging the chinese to get back to regular order where the militaries are communicating. you believe the relationship is improving or are we just hearing talking points from the chinese side. >> i think were just hearing talking points. military to military communication sounds good this is what we did in the cold war with the soviet union but it's not working with china. these conversations that we have had in the past, they really benefited china for a number of different reasons. we need to cut it out and start intimidating the chinese and say were no longer talking to you were starting to defend ourselves with her friends and her allies and we're going to make sure that you do not engage

in acts of belligerence which we permitted in the past. yes, we have allowed china to pressure her allies, japan, the philippines and others in the chinese have learned from that we have the power of the worst element the chinese system that showing belligerence works we need a new approach inviting does not get it. >> the belligerence continued yesterday, xi jinping told taiwan's former president the outside interference cannot stop the family reunion between china and taiwan. he's laying it all out there. xi jinping is telling the world what he's going to do. >> yes, clearly on a basic point taiwan and china are not family. people taiwan and self identification surveys show 80 s taiwanese only. the percentage that views themselves of chinese only is three or 4% lead recent surveys this is not a family reunion as

xi jinping says. it's an act of aggression. maria: will see what the u.s. does and how it responds because xi jinping is often consistently warning against getting inv involved. we don't know for getting the right information and accurate information from the chinese officials on the economy there. obviously they have a massive property problem. fitch downgraded the outlook on china's credit rating keeping their sovereign debt but lowering the outlook from stable to negative china's finance minister said it's disappointed by fitch's decision claimant and failed to take into account beijing's moves to improve the quality and efficiency of its government spending. i always laugh when china responds to things about america's pushback and it picks up things of the u.s. is doing everyone's focus on government spending in the u.s. so the answer is about government spending i feel like it's constant mocking. your reaction.

>> first of all is good that they downgraded the outlook for china but they are late moody's did this in december and essentially the market is not understanding about the situation in china. we don't know the total country debt to gdp ratio but it's not as people report. it's probably somewhere between three to 50 - 400% which is of great concern. it's because they have hidden debt and because they have been inflating the gdp statistics. when you factor that in china's debt to gdp ratio is at a point of basically unsustainability. everybody knows that but they are not saying it and we need to start saying that because we need to start preparing for what could be the biggest debt crisis in history, china is now having 2008 and it can bring down the global economy. we are just not prepared. maria: in the middle of it all china may or may not give us accurate readings on the economy they have their companies traded

on u.s. exchanges and are not even following u.s. accounting rules. in the middle of this the world treats china as a developing nation giving them all these accommodations as a developing nation. the second largest economy a larger navy than the united states and were still calling a developing economy and giving all these accommodations are companies trading on new york's changes the new york stock exchange and the not following the u.s. laws. >> we know the accounts of chinese companies that have been listed on our exchanges are false. there's going to be a lot more on this as shareholders go after the accounting firms in price waterhouse coopers has a few problems that would not like to disclose. really what were talking about american shareholders have been deceived. by the way it is also the investment banks that floated these companies with their disclosure statements that did not really disclose the

situation. there is a lot of parties that have been responsible for deceiving americans. maria: a lot of enablers, good point. always a pleasure. thank you. >> thank you so much. more manhattan brownstones may stay unoccupied a city problems become more than just a perception. it's making a buzz. watching "mornings with maria" live on fox business. stay with us. ♪ you bring a lot back

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maria: welcome back time for the morning buzz, new york's wealthy residents may be trading in the multibillion-dollar townhomes for dormant buildings. growing concerns of crime. the citizens budget commission poll finds 37% of new yorkers rated public safety in the neighborhood is good or excellent down from 50% in 2017, townhouse contracts for men on properties that are $4 million or higher dropped from 212 and 2021 to 132 last year.

you see the real impact of worries of crime. >> crime has skyrocketed post-george floyd as it is defend the police movement happened zero cash bail and you prosecutors who were unwilling to prosecute their prosecuted everyone but the real criminals, crime has been on the rise and within the last week or so charles barkley and stephen naismith were having a conversation and what are the things that they mentioned equality does not mean that you allow people to rob other people, those are not the same thing at all but if people are moving out of the townhouses into the high-rise buildings with door men they probably protect from squatters a little bit to, you gotta get through to get into the building. maria: i thought senator fetterman said don't even think about making believe that there's anything safe or anything that is legal about

this. squatters do not have rights you cannot go into a house and think that it is yours and take it over because someone is not there for a month. >> absolutely. also the homelessness in washington, d.c. where i live, the crime there is horrible carjackings are not being prosecuted it is insane and people are moving out of the city just like here but the homeless population in washington. if you walk into georgetown there are camps still in place of people that they have a been able to move to different areas. it is not safe. maria: that's why people don't want to live in a townhouse and they want the protection of a doorman. >> here's the thing about the story the wealthy can insulate themselves from the policies that many of them vote for, this is a voting issue barack obama said elections have consequences in local elections have consequences when you look at the crime. there is a disconnect between a lot of the democrats and leftist vote for and have a conceiving

of the situation. about women being punched in the face in new york there could shooting to maga extremism and whatnot. >> is always maga extremist. maria: that is downright inaccurate and wrong and it's amazing that people would even fall for that. >> it won't change until they change their voting pattern. maria: what about the policies john schell has been your number of times ahead of the patrol of the nypd and he talks about recidivism, this goes back to policy and have the das are processing people after stealing and walgreens in stealing apple phones in the app store and they come back out on the street within hours and committing more crime. >> this goes back to george soros supporting all of these people that got elected. he started doing this for years ago with the path of new das.

>> i can't stand to ring adorable at walgreens anytime i want something. it's gotten ridiculous to the point where all of us law-abiding citizens are paying the price from a convenient standpoint now we have to present doorbell to get a product. but also theft is inflationary, someone is paying for those items that were stolen and it is all of us that are are not shoplifting. >> and is ruining the busi businesses, walgreens, cvs are able to afford it. >> working to take a break. when we come back president trump ripping president biden over inflation after the hotter than expected cpi. it's a hot topic of hour. watching what is of maria live on fox business.

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maria: welcome back. good thursday morning, everybody. thanks very p much for joining us this morning. i'm maria bartiromo, it is thursday, april 11, just before 7:00 a.m. on the east coast. time for the hot topic of the

hour. the hotter than expected consumer price index for the month of march showing that inflation is above expectations, for a third month in a row. here's former president trump slamming president biden for this persistent high inflation. >> biden has totally lost control of inflation. it's back. it's raging back. the number today is very high, very bad. it's higher because they exclude variouvarious categories. the number is out of control. biden has no idea what the hell he's doing. he's the worst president in the history of our country. maria: president biden says he's made progress on inflation. he says he thinks there will be another rate cut this year. >> i stand by my prediction that before the year is out there will be another rate cut. we have dramatically reduced inflation from 9% down to close to 3%. we're in a situation where we're in better situated than