gives everybody a little breathing space including the biden administration. but he's facing pressure himself, netanyahu. he may be a write in politician, but there are people to the right of him. even if you're not let's say politically active, a country that has been threatening your destruction for decades shoots 300 missiles and drones in your direction, you expect your government to do something. >> thank you so much for being with us. that is our show tonight. you can catch me back here on the weekend 8:00 a.m. eastern saturday and sunday. "way too early" with jonathan lemire coming up next. we are going to continue our fight and conflicted judge as

you know on appeal. more conflicted than this one, so we'll see how that all works out. >> you learn telling people you're fired was something to laugh about. i guess that's how you look at the world when you're on park avenue or mar-a-lago. if you grew up in a place like scranton, nobody handed you anything. >> donald trump in court, president biden on the campaign trail. a contrast that we expect to see much more of in the coming weeks. we'll have a recap of how both presidential candidates spent their day. that's straight ahead. meanwhile, on capitol hill the threats to end mike johnson's speakership are glowing as he prepares to bring multiple foreign aid bill tuesday the house floor. and also ahead we'll go through the new u.s. response to iran's failed air strikes on

israel. good morning and welcome to "way too early" on this wednesday, april 17th. i'm jonathan lemire. thanks for starting your day with us. we have a very busy show for you this morning, and we begin with donald trump's hush money criminal trial with seven jurors now seated after what was clearly a productive day in court yesterday. the jury is anonymous, so their names were not used in open court. but here's what we do know so far. the group to this point is made up of four men and three women and include two attorneys, a salesman, a nurse, an i.t. consultant, a teacher, and a software engineer. other potential jurors were dismissed throughout the day as the process continued into the afternoon. reporters in the court describe trump as being more alert yesterday and at times looking the intently at potential jurors as they answered questions.

judge juan merchan believes the jury selection process will be completed this week and advised the jurors who have already been seated to be ready for opening arguments to begin monday morning. the day ran so smoothly, in fact, that trump claimed later outside of court that the judge was rushing the trial. >> so we think we have a very conflicted, highly conflicted judge that shouldn't be on the case and he's rushing this trial. >> in all 12 jurors and 6 alternates are need. now, the trial does not sit on wednesday, so expect nothing today. the process will resume tomorrow, meaning thursday morning. joining us now state attorney for palm beach county, dave aronberg. thank you for starting us off. first let's talk about the jurors, the seven jurors who have been seated and what we

know about them. again, let's repeat this. they're anonymous in part for their safety. but from what we know in terms of the gender break down and utwhen we know of their occupations, anything stand out to you at this point? >> good to be with you, jonathan. you know, these jurors don't have to be empty vessels. they're allowed today know about the case. they just have to put aside their biases and be fair and impartial and follow the evidence and the law. one of the jurors said that he thought donald trump was a fascinating figure, just amazed how he can, you know, control a room, for example. and that has to concern prosecutors if he's an admirer of trump. the thing is prosecutors don't know who's going to be coming through door number 2. who's to say the next juror is not going to be some big fan of the mypillow guy. got to be careful and just go with people who say they can put aside anything they have beforehand and follow the evidence and law and looks like these jurors can do so.

>> dave, let's get your take here on the pace of this. monday, you know, seemed to be behind schedule, you know, no jurors selected at all. yesterday seven, and there was some commentary people were surprised just how many were already picked, and now the judge is suggesting that process could be done by the end of this week. opening arguments as soon as monday morning. what's your reaction to that time line? what should we learn from that? >> judges matter, jonathan. compare this to the case here in my neck of the woods with judge aileen cannon, the mar-a-lago documents case, which is the strongest case against donald trump. you have an inexperienced judge who's dragging her feet and slow walking the case, and that case isn't going to be heard before the election. here you have justice merchan who is experienced, no nonsense, and he's determined to get this case going. yeah, i think it's very possible you seat the jury by friday, and then you can start the case by monday. and it's ironic that donald

trump has been complaining about having to sit in this trial while he could be out campaigning is now complaining that the case is moving too fast. that tells you that he's scared about this case and his strategy all along as we all know has been delay, delay, delay. >> dave, i also want to ask you about this matter yesterday. at one point during jury selection the judge gave trump a warning about his behavior. it came after one potential juror was being questioned about facebook posts in the wake of the 2020 election. once she left the room, the judge admonished trump telling his lawyers this, your client was audibly uttering something. i will not tolerate that. i will not have any jurors intimidated in this courtroom, i want to make that crystal clear. so let's get your reaction to that moment, dave. and then take a step backwards and then talk about the challenges this judge can have in controlling trump, his behavior both inside and outside of the courtroom when it comes to social media.

>> jonathan, there's a reason why you've got to stand up at the edge of the room, it's there for them, their domain. although donald trump was the boss when he was president and he was the boss at his company, in judge merchan's courtroom he's just another defendant and it's important the judge here treats him as much because you don't want a circus. sometimes it just takes a smirk or huff and trump is going to get his way. here you have a justice and he's considered a supreme court justice at the trial court level in new york, we call judge merchan justice merchan. you have a guy who's not messing around, and he's going to make sure this case goes and he's not going to tolerate any guff from this defendant no matter if he's donald trump or anyone else. >> dave, lastly, let's look beyond this trial and the other

legal challenges facing donald trump in the weeks ahead. you already mentioned the slow pace of the matter in florida, but we've got oral arguments in front of the supreme court scheduled for next week. give us a sense how you think they'll go and how important they are. >> i don't envision the supreme court is going to rule donald trump's way to say he has absolute immunity and that everything is done. i do think they could nuance the issue and send it back to judge chutkan in d.c. and have her make additional findings to determine the extent of immunity, and that would really end the case in d.c. before the election, so that's what i'm looking for. but in the end i think that the supreme court is going to rule for jack smith. there you have a judge who like justice merchan wants this case to move forward, and if the supreme court gives the green light, which i think it eventually will, i think it will

happen. the question is whether it happens before or after the election. >> it's a possibility that could be the second after the election. a lot will be riding on that. state attorney for palm beach county dave aronberg, thank you for starting us off this morning. we appreciate it. still ahead here president biden begins his three-day swing through the key battleground state of pennsylvania. we'll take a look at his message to voters there on his return to his hometown. plus, a group of house republicans walk over to the senate and deliver articles of impeachment against homeland security secretary alejandro mayorkas. we'll go over what to expect today when an impeachment trial begins. those stories and a check on sports and weather when we come right back. sports and weather when we come right back

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welcome back. we'll have more on donald trump's trial later in the show, but turning to some of the morning's other top headlines president biden hit the campaign trail yesterday stopping in his hometown of scranton, pennsylvania. the president gave a speech focused on the economy and taxes, attacking trump as an elitist who caters to billionaires. the president also call out trump by name much more than he often does. >> when i look at the economy i don't see it through the eyes of mar-a-lago, i see it through the eyes of scranton, and that's not hyperbole, that's a fact. where honesty and decency matter, where faith matters, where family is everything. he looks at the economy from mar-a-lago where he and his rich friends embrace the failed trickle down policies of the fail working families for more than 40 years. scranton values or mar-a-lago values, these are the competing visions for our economy. tax breaks that he passed

several years ago is about to expire, but trump wants to give another billionaire tax break. trump says his maga friends want to, quote, terminate -- i love his terminology. terminate the affordable care act. the affordable care act is paid for by a surtax on the very wealthy investment income. trump wants to get rid of that and as a consequence it would cost millions of americans who lose coverage an average an additional $6,000 a year to maintain their health care. it would mean billionaires would get as a consequence in not having to pay tax anymore another $3.5 million tax cut per billionaire. you heard me right. billionaire tz would each get an additional tax cut every year of $3.5 million. that's 70 times what a typical family here in scranton makes in one year. >> after that event, president biden visited his childhood home there in scranton.

he'll continue his three-day swing through the key battleground pennsylvania with a stop in pittsburgh today where he'll give a speech at the united steel workers headquarters in philadelphia tomorrow. meanwhile in washington the impeachment trial of homeland security alejandro mayorkas is set to begin later today. the articles were delivered to the senate yesterday after a two-month delay. republicans are accusing secretary mayorkas of willfully refusing to enforce border laws and breaching the public trust. 11 house republicans made the ceremonial walk across the capitol to present the charges to the senate. after delivering the articles they read the charges aloud on the floor to the assembled senators. republicans do not accuse mayorkas of any specific conduct, and constitutional scholars have called the case groundless. senate democrats are expected to dispense with the articles quickly after the trial begins

and move which would require a simple majority of the senate to pass. but nbc news has learned that senators on both sides of the aisle were trying to come to an agreement on a process that would allow some debate and votes on p republican motions according to a senate source. we will have coverage of this as the day goes on. meanwhile, arizona republican senate candidate kari lake suggested to supporters they might want to arm themselves in the runup to this fall's election. she made those comments in a campaign rally in recent days. >> they can't bribe me. they can't blackmail me. that's why they don't want me in washington, d.c. and that's exactly what president trump wants me there for. he's willing to sack fiets everything i am. that's why they're calling us with law, and we need to strap on our -- let's see what do we want to strap on?

we're going to strap on our seat belt, we're going to put on our helmet or your kari lake ball cap. we're going to put on the armor of god. and maybe strap on a glaucon the side of a pistol case. >> a major political candidate telling her supporters to arm themselves with a glok. more dangerous rhetoric ahead of november. next up here we'll turn to sports, and there are a lot of questions about the future of the golden state warriors after the last night's defeat ended their season. we'll explain that warb and we'll show you the improbable goal that put the washington capitals into the stanley cup playoffsch that's all straight ahead when "way too early" returns. ahead when "way too early" returns. when you have chronic kidney disease, there are places you'd like to be. like here.

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into the rotation. now he's a starter. flying high for the follow. >> that put back slam from darren faugs in the opening minutes of the first quarter set the tone last night as the sacramento kings began building a lead that they simply would not relinquish. fox finished with 24 points. keegan murray led all scores with 32. and sacramento blew out the golden state warriors for a 118-94 win that keeps golden state out of the playoffs for the third time in five seasons including eliminations in the last two play-in tournaments. lots of questions about the future of the warriors as clay thompson finished scoreless, the first time that has happened since he was a rookie. he missed all ten shots she took in what might have been his last game with the team in what might be a championship break up of

thompson, steph curry, and draymond green. the team heads to new orleans to play the pelicans. and we've got that matchup because the lakers secured the number seven seed last night with a 110-106 win over those pelicans in the play in game. that sets up a rematch. lakers will take on the defending champion denver nuggets. that should be a good one. game one saturday night. the eastern conference play in tournament tips off tonight. the philadelphia 76ers will host the miami heat to determine the number 7 seed. the loser that game will get another chance to learn a play in spot. loser of hawks-bulls, though, is out. we turn now to the nhl. the washington capitals are officially stanley cup contenders. tj oshy broke a tie and punched

a ticket to the playoffs. washington will face the trophy winning new york rangers in the first round. there was a lot of chaos last night, pull that goalie early, didn't matter. caps win and advance. the canucks are two points behind the dallas stars in the western conference. and the playoffs and nhl and also kick off this weekend. time now for the weather and let's go to meteorologist angie lassman for the forecast. >> it's been busy the past couple of days. that same storm system that already spawned 23 tornado reports over the past couple of of days continues to be problematic. right behind it we're going to watch another storm work its way through the east. focusing on today there's that storm system working on parts of the great lakes, ohioivaly,

eventually bringing some rain across parts of the north east later today. but, yes, that line of severe thunderstorms is going to be possible once again especially across parts of southern michigan, indiana, ohio, and parts of pennsylvania included in that as well with kansas city right in the bulls eye. all those same kind of threats will remain, the hail and wind will be most likely but an isolated tornado or two can't be ruled out. notice more thunderstorms in the picture. that's going to work out parts of the plains and leave us with a severe threat in similar areas as well as stretching down through parts of texas, dallas right in the bulls eye and the greatest chance to see some of that, those stronger storms here as we get into the day tomorrow. meanwhile, april warmth definitely. 86 degrees in oklahoma city today. we're running 10 to 15 degrees above normal in some of these spots. pittsburgh you're headed to the mid-70s, and we've got atlanta into those low 80s.

this is going to continue into tomorrow. notice these temperatures not cooling down. we've got 87 for nashville. montgomery will be well into the 80s as well, and finally we'll start to see things getting back to more typical temperatures but then dropping down in places like chicago. by saturday you're in the low 50s. it'll be a bit of a temperature whiplash for some folks. washington, d.c. goes to the high 70s on friday to low 60s on saturday. similar story with upper 80s in raw raleigh. next up here on "way too early" we turn back to politics and there's growing momentum among republicans to oust house speaker mike johnson. could it be the democrats that keep johnson in his leadership post? we'll get the very latest in a live report from capitol hill next. ry latest in a live report from capitol hill next

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welcome back to "way too early." it's a little before 5:30 a.m. here on the east coast, 2:30 a.m. out west on this wednesday morning. thank you for being here. i'm jonathan lemire. back to politics now. house speaker mike johnson says he plans to get the gop-led foreign aid package on the floor by the end of the week. the four bills which include aid for ukraine, israel, taiwan, and indo-pacific allies are garnering some support, but things are still fluid. some far-right conservatives

have voiced outright opposition to the measures while rank and file republicans are angry that the package does not address the southern border. johnson's saving grace could be democrats. the speaker spoke to president biden yesterday, and congressional democrats appear inclined to support the package as long as no republican poison pills are included. >> there's no option off the table right now from procedural measures that bring this directly to the floor to any of votes that are options. if it delivers as the vice chair said, if it delivers the four points we are concerned about, that should be something that is on the table. >> heen while, johnson's move to push forward the aid package might cost him his job. republican congressman thomas massy has announced his support for congresswoman greene's motion to oust the speaker.

he said the government's actions on fisa and foreign aid contributed to his decision. take a listen to what he said yesterday followed by the speaker's thoughts on his current predicament. >> yeah, i asked him to resign. he said he would not, and i said you're going the one going to put us into this because the motion is going to get called. the motion will get called, and then he's going to lose more votes than kevin mccarthy. and i have told him this in private like weeks ago. >> i am not resigning, and it is -- it is in my view an absurd notion when someone would bring a vacate motion when we are simply here trying to do our jobs. we need steady leadership. we need steady hands at the wheel. look, i regard myself as a wartime speaker. a couple days go on his social media it's the hardest challenge that's faced the speaker probably in theistry of the country, in the moment we're in right now. he said arguably may be

comparable to the civil war but maybe worse. >> joining us now co-founder of punch bowl news, john bresnehan. the republican house of representatives outdoing itself day after day. even more chaos and dysfunction. we'll get to the threat on johnson's job in a moment. let's start with the foreign aid package. give us -- give us a rundown of where things stand, these four different components, whether we think there'll be enough support, and walk us through its future with the senate in the white house, too. >> yeah, i stayed up late last night even though we have a 4:00 a.m. newsletter, punch bowl news. i stayed up late to see if there would be a bill released. it was they're not ready, they don't have a deal internally. johnson has not been able to reach a deal internally among republicans where he feels comfortable that he can release a bill and still stay speaker, so they're waiting on this

today. if they release it today under the 72-hour rule republicans have the senate has other things to deal with. they have a punch of stuff on their plate as well. right now there's no deal among republican, there's no bill, no text or legislation. we haven't seen what johnson is going to try. >> all right, so even though we haven't seen it, it's certainly sparking anger among some of the far-right. so give us a sense first of all just the reaction to what we heard from massie yesterday, how that's being received by other republicans, and what's the momentum here? do we see this costing him his job? >> you know, it could. it very well could. i was in one of those scrums with massie yesterday when he was talking with our reporters, and he's upset. and there's a number of hard-line conservatives feel

like -- and you forget the pelosi comparison. there's no difference for them in the way they view things between pelosi being speaker and johnson being speaker. it'd be the same bill under either one, they feel like. so why is johnson speak snr the other thing is, like, a lot of these hard liners they really want, there's a number of them that really want -- have a fight with, you know, centrist moderate democrats, rino republicans as they call them. and even if it ends up in minority, even if they end up losing the majority, they'd rather be pure on these issues than pass a bill and govern. so, you know, there's a lot of dissension inside the conference. i don't know how many of these members will vote against johnson. if any democrats keep johnson in the speaker's chair, how is he still viable? how can he go raise money saying democrats support him as speaker? i mean this is really, really difficult position he's in right

now. maybe not civil war bad, but pretty bad. >> we should keep that context in mind. lastly, just walk us through his future there. either he's going to keep his job but be mortally wounded perhaps. or if he's ousted, what happens next? is there a republican to step in? we could be even be looking at even for a minute a speaker jeffries? >> no, there will be a speaker jeffries, i don't think there could be a speaker pro tem like mccarthy -- after former speaker mccarthy was forced out in october for three weeks of chaos, there was a speaker pro tem who couldn't move legislation except in emergency. but the house was able to at least meet, but they couldn't pass anything. it was such a traumatic experience for a lot of members on both sides of the aisle. they may -- i had a senior democrat come up to me yesterday

and say i will get 25 votes for johnson if i need to in order to avoid what happened last year. but, again, i don't know johnson would accept it because, you know, as you noted he'd be a speaker in name only. so i think, you know, we'll have to see i think today is really, really critical for johnson. if he drops a bill and the hard liners move forward to try to oust him, that vote could happen before the end of the week. >> dysfunction is putting it lightly. staying up late last night, getting up early this morning for the newsletter which will be in your inbox seen, thanks for being with us this morning. still ahead we'll go live with a look with cnbc what's driving wall street, and the federal reserve plan to cut interest rates. when we come right back with a beautiful shot of the sun starting to come up over manhattan. n arstting to come up over manhattan.

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welcome back. time now for business, and for that let's bring in cnbc's silvia amaro who joins us live from london. good morning, silvia. nice to see you this morning. so stock futures are little changed this morning after the s&p 500 notched its third straight day of losses. what should we expect from wall street today? >> so futures suggest that perhaps we'll see a bit of a rebound on wall street today, and that is after we saw the s&p, nasdaq, and rustle ending the two day session in the red. basically they are marginally lower. what we're looking at in this stage is that investors seem to be a lot more focused on corporate earnings as well as commentary from central bankers rather than on jeo politics, and speaking of earnings two of the companies we're going to hear from today they include u.s.

bank corp and travelers. they expected to release their latest earnings before the bell and see what they will see. no doubt at this stage it seems investors are brushing aside those geopolitical concerns and looking more at what companies are saying as well as central bankers. >> so significant news here. now they're dialing back expectations on a possible cut. tell us the latest and the context. >> so we heard from jerome powell, the chair of the federal reserve, and he basically made comments that they're not -- they basically disappointed with the level of inflation in the united states. he suggested they need to see further progress when it comes to that. so what that means we're unlikely to see the fed announcing rate cuts anytime in the near future. just to give you a bit of context basically the fed has not changed their level of rates since july 2023. they're at their highest level

in 23 years at 5.25 or 5.5%. the fed is not comfortable with the level of inflation, so we're unlikely to see them announcing cuts in the short-term. >> we'll see if we get cuts at all this year. certainly it's an open question before the happens in the u.s. what's the sense as to how this could impact households amid the ongoing cost of living crisis there overseas? >> so this is also quite similar to what's happening in the united states. prices are not rising as much as in the past, but they're still rising, and so consumers are still feeling the brunt of that. the bottom line here is that we saw an improvement in term of disinflation between the month of february and march with the latest data. however, though, when you hear some of the comments from the

bank of england as well they still say they're also not comfortable with these levels of inflation, that they're not yet at their target levels. and of course, this is also something they're monitoring quite closely. so at this stage after the data we got this morning investors pushed back expectations of a rate cut. also here in the united kingdom they're now expecting that first cut to only happen in november. and here it's also quite similar with the united states. there's also likely to be a general election before the end of the year. let's see how monetary policy could impact what might happen on the political front as well. >> really important story lines we will continue to follow. cnbc's silvia amaro live from london, thank you as always. still ahead here, weeks after israel announced it was withdrawing troops from northern gaza, some residents are reporting seeing new tanks in the area. we'll have the latest on the war against hamas, which comes as

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welcome back. we turn now to the middle east. residents in gaza say israeli tanks have pushed back into northern parts of the strip. sicilians started moving pack into the area after israeli forces announced several weeks ago that they've begun withdrawing troops. but residents are now reporting internet outages and say tanks have surrounded some schools where people have taken refuge. meanwhile, in the southern gaza city of rafah, war planes conducted air strikes yesterday. it comes as israel has vowed to move torward a ground invasion of the city, but the scope and timing of that remains unclear. joining us now former spokesperson for the u.s. mission to the united nations,

hagar chemali. she also worked at the national security council and u.s. treasury department. great to see you this morning. let's talk about gaza to start and the latest in terms of israel's thinking to the invasion there. the white house has made it very clear they do not want to see a full on ground invasion of that southern city, home to about a million people seeking refuge after their homes were destroyed elsewhere in gaza. and as much as the u.s. is supporting israel in its response to iran, they're saying, look, gaza is separate track, we haven't changed our guidance there. how do you think this plays out? >> you're right here, the u.s. hasn't changed its position on that most importantly. they don't want to ground invasion, no troops going into rauf for some kind of massive ground operation. what we've seen so far are airplanes, are air strikes against rafah. and normally and typically that's only going to escalate. the thing that surprised me this morning when i saw this news is you had these air strikes, but

the plans to evacuate the -- the over half of the palestinian population, gaza population that has moved to rafah hadn't been put in place yet. we haven't seen those mass evacuations, that israel did come to washington and say they are going to pursue and the last we left it before the iran assault is they were not happy with the plan. i will say in my own analysis i was expecting when we reached the end of ramadan which was last beak, i was expecting things to further escalate again in gaza because that was likely what holding back a little bit part of israel's population in rafah. but where we go from here after seeing air strikes in rafah, it remains to be seen. the u.s. is going to continue calling israeli counter parts saying, listen, these are targeted air strikes that's one thing. but if you're done, we have to see that evacuation plan. >> the u.s. frustrated they have

not yet. so the backdrop to all of this, of course, is israel weighing its response to what iran did over the weekend. and there's certainly a wide range, a wide menu of choices in terms of how limited or not limited they'll choose to be. what is your analysis as to what they'll likely try, and what might the ramifications be? >> well, so the first thing is that they will likely try to respond. even with the appeals by the united states and other governments to say, hey, you know, take this win, there was little damage. it's one thing to support defending you, it's another thing to support you in a war, israel has vowed torespond. and to be honest with you, i'm not surprised by that. iran's assault was significant and unprecedented. the way i expect israel to respond is that it could be a mix of a few ways. one is potential cyber attacks, potential strikes against irg basis in iraq and syria, and

also potentially strikes against iranian air bases along the persian gulf, definitely something that only focuses on infrastructure, though. because the interesting thing here and extremely dangerous thing here is neither side seems to want to enter a full scale war. that seems very clear. each side wants to send a message of deterrence. particularly, that deterrence is one of the main things that drives israel's military strategy, and so i do expect them to respond in some way, but to try to do it in a way that's strained so things don't escalate further, to be honest with you, while i don't see the region blowing up in flames, this will only escalate things further. >> certainly the u.s. fearful that that is the case. and president biden made clear they understand that israel likely will have to hit back. they hope it's limited and also the u.s. won't be participating. we'll be talking to you again soon about all of this and more. former spokesperson for the u.s. mission to the u.n., hagar

shamali, thank you for joining us this morning. new u.s. sanctions against iran could be now just days away. what we're learning about white house plans to target that nation's military. we'll get into that. and then coming up on "morning joe," the jury in donald trump's hush money trial is starting to take shape. we'll go over the former president's second day in court, including why the judge scolded trump over his behavior. also ahead, democratic senator chris murphy of connecticut will join us and he'll weigh in on the republican-led effort to impeach homeland security secretary, alejandro mayorkas. plus, democratic congressman, ruben gallego of new york will join the conversation. "morning joe" is just moments

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country's unprecedented attack on israel. white house national security adviser jake sullivan made the announcement last night saying the sanctions will target iran's missile and drone program as well as any entities that support the islamic or revolutionary guard corps. it's not clearly how or when that will happen, but sullivan explained the sanctions will degrade's iran's military capacity and confront the full range of its problematic behaviors. treasury secretary janet yellen also warned of new sanctions yesterday. speaking at a news conference, she told reporters, all options to disrupt terrorist financing of iran continue to be on the table. joining us now, editor and chief of semafor, ben smith. good to see you this morning. let's talk about these sanctions. what's the sense as to how effective they could be. these economic moves, could they deter, could they really put the squeeze on iran to make it think twice about further military

action against israel and others. >> i think that's honestly unlikely. you have a situation with other countries where the u.s. is reaching into the bottom of the tool bag here and so, i mean, iran is already and has been for years under very very intense pressure and has built up commercial relationships that don't involve the u.s. with china and with russia. so hard to see how this is a major deterrent. i think the big question is about oil where the u.s. is going to balance, you know, continued pressure on iranian oil industry with a lot of sensitivity in the white house to anything that could drive inflation and drive oil prices up. >> certainly. former white house chief of staff ron klain said the first thing he would do every morning would be to check gas prices. they're aware of the billboards on the side of the road, americans are keenly sensitive to those, particularly in an election year. this comes as semafor's world summit gets underway in

washington. tell us some of the themes. it's such an important moment, still recovering from the pandemic, inflation high, higher than anticipated. rate cuts now in doubt, and now tumult in europe and the middle east. >> we kind of took the opportunity to get a bunch of news makers on stage and try to get insight into what, as you say, is this very crucial moment. in some sense these governments have been operating through a crisis for the last four years, low interest rates, huge government spending and measures to combat inflation, you know, and they are and in particularly in the u.s. optimistic about a soft landing, a strong economy this year, but are essentially trying to land the plane without particularly restarting inflation, without cutting growth in this complicated geopolitical moment, as you

said. >> and so obviously the politics play a role. in the building behind you. speaker johnson's job in jeopardy. house republicans dysfunctional as ever. give us a sense here as to the message this is broadcasting to the world, the chaos in washington, in congress, and also now staring at a general election that includes one of the candidates on trial at this very moment. >> yeah, i mean, i think you have a moment when a lot of european and african and other leaders here in new york will be talking to the chancellor, and the german finance minister, and what they are doing is trying to calibrate how to do business with the united states of america. i think the word you used, the buzz word is future proofing. they want to future proof their policies. to some degree is a word for trump proofing. you saw the british foreign secretary down at mar-a-lago talking to donald trump, and i think you see a lot of countries hedging their bets.

the germans have reached the 2% of nato, of their gdp on defense spending that trump has pushed for, but i think you're seeing particularly america's european allies start to think about a world in which america is a much less reliable partner. >> a month or two ago, there was momentum in foreign capitals and the business world. that's cooled some. it seems like a pure toss up. that's where we are, months until the election. semafor's ben smith, thank you very much, we appreciate it. talk to you again soon. thanks to all of you for getting up "way too early" with us on this wednesday morning. "morning joe" starts right now. it's called legal expense. that's what you're supposed to call it. nobody has ever seen anything like it. so thank you very much for coming. i'm now going to sit down for many hours -- >> donaltr