market extending yesterday's losses, dow down about 55 right now. mehek cook, your final thoughts. >> i'm really concerned about what's happening on these college campuses. this is domestic terrorism, and we need accountability because these kids are our future leaders, congressmen members and future business owners. we have to start now before it's too late. maria: i'd love to see joe biden come out and make a comment about all of this as we watch this spike. your thoughts. >> you know, in the face of all these terrorist sympathizers, remember, today is the 13th anniversary of the day that the navy seals got osama bin laden. maria: oh, i love that. thank you, navy seals. great. that'll do it for us. thank you so much for being here. i want to thank adam, mehek and mike, we are see you soon, and let's get right to "varney & company". stu, take it away. stuart: good morning, everyone. pitched battles on the ucla campus overnight, groups fought each other. for hours it was an around a key.

finally, the police arrived to break up the brawl, but it is still an ugly standoff. in new york police quickly cleared occupied buildings at columbia. in new orleans tulane university was cleared. in utah, tent encampments removed. at city university in new york, same story. questions, why did it take so long to take action? if blatant and hateful anti-semitism has been on dismay for weeks, where is pride sentence he issued a tepid statement that donald trump went on hannity. who is behind the campus chaos in of those arrested were outside agitators. you're waking up to disturbing scenes at our colleges. you're also waking up to a very big day for your money. the fed will address can interest rates this afternoon. no change x expected. stocks are, though, selling off a little again. the dow, remember, coming off its worst month in nearly two years. it's down again this morning. the s&p, more selling there. and the nasdaq, that's coming off its worst performance in seven months and it, too, is

down again but just look at bitcoin. it fell well below $58,000 earlier. it's struggled back to 57,8 as we speak. interest rates are at a elevated levels ahead of the fed announcement. the 10-year getting close to 4.7%, 4.66 to be precise, and the 2-year is holding above 5%, 5.03. gold barely hanging on to $2300 an occupancy, it actually dropped below that at one point today, 2308 is where we are. politics. the white house is considering allowing some palestinian refugees from gaza to come to america for their own safety. how will that play politically? the administration's or considering reclassifying marijuana as a less dangerous drug. how will that play out politically right before the election? on the hoe today, trump on trial in new york, the judge threatens jail for contempt. we'll speculate on what might happen if they really do put him in prison. and the continuing contrast between two president biden and

donald trump. while columbia was cleared and riots tore ucla apart, trump demanded action against antianti-semitism. biden put out a tepid statement. this is a big day in politics and money. it is wednesday, may 1st. may a day, 2024. "varney & company" is about to begin. ♪ ♪ ♪ ♪ stuart: we're going to start this morning with the latest from from ucla. fighting broke out between activists in the anti-israel encampments and counterprotesters supporting israel. los angeles police did not respond until several hours later. the dueling protesters attacked each other. it was an ugly scene. sticks and poles, bear spray, pepper spray all used in this brawl. police will remain on campus to maintain public safety. at columbia police cleared the building occupied by anti-israel protesters.

dozens were arrested. lawrence jones joining me now from the if columbia campus. lawrence, any news on outside agitators among those arrested? >> reporter: well, we're till waiting for those police reports to come out of the people that were arrested last night. but with, stu, i mean, we don't have to speck if late about -- speculate about there being outside influences. the deputy commissioner for the police department if that is over counterterrorism told discuss yesterday during a press conference that there's outside agitators. and then they're worried about this. so the question is, will the university be able to get control of this when these protesters get back out of jail, and they made it very clear based on some of the interviews done yesterday they plan on coming right back to campus. stuart: why did it take so long to deal with in this gross anti-semitism at columbia university? >> reporter: you know, i think when it comes to the discussion about what is anti-semitism and

what is protest, i think they are behind not just here at columbia, but all across the country the 8-ball. there's one thing to protest against agendas, policies. it's another hinge to protest against a -- thing to protest against a whole group of people and parrot the same information that that hamas, the houthi are rebels, hezbollah which are all terrorist organizations, and it's not just jewish people that they hate, they hate the country, and they pose a direct threat to america. so what we're seeing right now is no moral clarity. and this is why i've been calling for the president, the commander in chief to make some sort of public statement to say what we stand for as a country, what our value system is. but right now it seems like he's more concerned about that uncommitted vote within these factions of protest that are anti-biden now because they don't think he should be supporting israel. stuart: lawrence jones in the middle of it and, by the way, i think you're absolutely right on the presidency there. thank you, lawrence. now this, the white house reportedly considering taking in

palestinian refugees from gaza, bringing them to america. former carr governor mike huckabee joins me. how do you feel about that, governor? >> what a brilliant idea, stu. i mean, we've got so many people from all over the world that have broken through our southern border, why not just put them on airplanes and bring them in and make it ease she for them in th? let's give them some housing benefits. there's a reason that a none of the countries that surround gaza are taking any of these people in, not one. not egypt, not jordan, not saudi arabia, not the uae, not qatar. how come? if they don't want 'em. why not? because from the time these kids are 4, 55 and 6 years old -- 5, 6 years old, they are raised and trained that the highest honor in life is to kill a jew. just imagine bringing those kind of people into the u.s. and saying here's a housing card, by the way, here's some benefits, we'll get you an education. and in the meantime, we've got veterans of this country who have worn our uniform, saluted

our flag who are sleeping on the streets homeless. this is a brilliant idea for joe biden in an election year. i hope it works out beautifully for him. stuart: speaker johnson is calling on president biden to visit columbia. watch this, please, governor. roll it. >> i've encouraged him to go and see it for himself. i will go where needed. we felt like there was a vacuum of leadership there and that it was an important moment for us as the house, for the speaker of the house who represents the whole body, to speak with clarity, conviction and consistency about what this is. moral clarity is the phrase that you've heard from us. stuart: moral clarity, please. biden, to my knowledge, has not specifically condemned hamas and their ugly rhetoric. why not, governor? >> good question. we've got five american hostages still being held by hamas, and we're not even demanding, we're not publicly saying much at all about those american citizen hostageses that are being held by hamas and have been since october the 7th.

i can't explain that, you know? it's beyond me to understand why a president of the united states juan publicly take a stand for -- wouldn't publicly take a stand for hostages. he took it for brittney griner, got her out. these are people that are being subjected to the most harsh physical torture, and we seem to be oblivious to it. as far as him going to columbia, i think he will go as soon as, he finds out whether or not they have a baskin rob byes on campus. [laughter] stuart: some of the stuff you come up with, governor, it's good. it's really good. thanks very much, indeed. i think biden's silence has more to do with the electorate in michigan than anything else, but that's my opinion. governor, we'll see you again soon. thanks for being with us, sir. appreciate it. to we've got all kinds of big stories today. another big one is the markets and your money. right now we see some red, left-hand side of the screen, before we open this market. dow down about 50. nasdaq down another 711 points. quick check of -- 711 points. amazon, very strong report after

the bell yesterday. their profit almost tripled, and they had strong cloud growth. big name company, up 3% premarket this morning. mark tenner with me -- tepper with me today. mark, i want to look big picture for a second. the economy's slowing, interest rates are rising, inflation is rising. why not sell stock in that environment? >> all right. so, look, the average investor historically underperforms the broad market by 3-4% a year pause they buy at the wrong time and sell at the wrong time. look, our strategy the right now is to remain invested but to use these pullbacks as opportunities to reposition. maybe you start to get out of some trends that have run the course. maybe the strong consumer trend would be a good example of one that you might want to start to wiggle out of, and then you want to get into better, more positive trends that are going to emerge on the other side and have some legs underneath them. stuart: easier said than done. and it presumes that there will be a bounceback after this wave of selling. are you sure we're going to get

a bounceback? >> yeah. yeah, i am sure. so, look, even -- when you look at the average period of time from the peak of the market to its trough until it regains its prior peak, the average length of time is, like, two behalf years. it's not as long as a lot of people would challenge. -- imagine. that's in a recession, that's in a bear market. i don't think we're heading there. i do think we're overdue for a correction. i think we'll see volatility throughout the summer, we will see that correction, and i think there's going to be some great opportunities. you look at amd which is probably nvidia's little brother as it relates to the a.i. chip race, down, like, 6-ish percent this morning. if you haven't gotten in, maybe you want to take a peek. stuart: you are on the side of buying stocks as opposed of selling -- >> no, we sell too. but we are a long-only fund. stuart: exactly. >> my apologies. [laughter] stuart: i'll move on. stay there, with me for the hour. here's what we have coming up. house progressive leader pramila

jayapal says jewish students need to educate themselves on anti-semitism. watch this. >> my message is the same to a jewish student, to a palestinian student, to everybody that it is really important to educate yourself about what is anti-semitic, about what is islamophobe ec. stuart: really? if that is her solution? if we'll bring that into question, shall we say. we're all a over it. benjamin netanyahu promises to invade rafah regardless of any cease fever if or hostage deal, but if israel does not go into rafah, has hamas won? retired lieutenant colonel james carafano on that. the colonel is next. ♪ if ♪

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stuart: futures showing a little red this morning, not much, just a little. nasdaq, though, down 60 points. this morning secretary of state antony blinken meets with israel's president benjamin netanyahu, he is pushing for a ceasefire deal. jeff paul joins me from tel aviv. the latest, please, jeff. >> reporter: well, yeah, stuart, that meeting between apt ty blinken and israeli prime minister benjamin netanyahu wrapped up a short time ago. the two men reportedly met for about two and a half hours in jerusalem where they discussed the ongoing efforts to come up with some sort of deal that would not only include a ceasefire in gaza, but also a hostage release of the remaining people who were kidnapped by hamas back on october 7th. now, the state department's matthew miller says blinken also spoke about the 'em improvement in the delivery -- improvement in the delivery of humanitarian aid to gaza.

he reiterated the importance of speeding up and sustaining that delivery of that critical aid. but once again while speaking with the israeli president, isaac herzog, earlier in the day blinken emphasized it's hamas who's standing in the way of a potential ceasefire deal. >> there is a proposal on the table, and as we've said, no delays, no excuses. the time is now. and the time is now long past due to bring the hostages home to their families. >> reporter: now, during his meetings with top israeli government officials, blinken reportedly e stressed efforts to insure lasting, sustainable peace in the region to avoid further expansion of the conflict. blinken then reit rated the biden administration's clear position on rafah, that it cannot support a major military ground operation in that southern city in gaza. that's where the u.n. says more than 1 million palestinians are sheltering from the war, so now we wait on a response from hamas

leaders. but in the meantime, we know that u.s. secretary of state e antony blinken will be heading to the city of -- to visit a portion port to view some of that humanitarian aid that's coming in and being delivered to gaza. stuart? stuart: jeff, thanks very much. retired lieutenant colonel james care fan know joins me now. james, if israel -- just speculate with me for a second. if israel does not go into rafah, has hamas won? because their leadership and at least one fighting by grade can -- brigade remain intact. >> this is not baseball. israel has one mission, which is to protect the people of israel. it's already built space to do that, to build and a demilitarized zone, diminished hamas successfully. they've cowed the iranians for now. hezbollah has stood off. whether the israelis go in on, they've got the time and breathing space to insure their own security, and they're going to move at some point on to the

thorny issue of what's the governance of gaza look like because throwing humanitarian aid is not going to work. i think the threat to go in is real, and i think they're willing to do that was at the back end, they're going to come out with even less hamas. but on the other hand, if they wrap now, i think the israelis would take it as a win. stuart: a member of the state department has quit over biden's support for israel. so there's a split in the democrat party, we know that, and now there's a split within the administration, we now know that. that's not a position of strength, is it? >> well, there's two things going on here that i think are really, really important, and it's about the changing political dynamics of america and what it means for the president's party. one is this is not '68. this is not the anti-war movement which is mostly, you know, bottom-up, yahoos and some professors, and they're really interested about the draft. once the draft ended, they could have cared less about the war. this is a organized political

violence that is well funded, well paid and directed. half the people on the campuses are crisis actors, and the other thing is this is a weaponized, politicized segment of the democratic party. these are not, like, you know, the parts we own. we own the black vote, the hispanic vote. these are people that have a political agenda, can if they will take president biden down. they will cause him to lose because then they're going to be able to turn to the democratic party and say you need us, and we own you. so i think the democratic party is in the middle of a political crisis. if. stuart: the democrats are in a political crisis. do you think it will cost them the election in november? >> i think that the people that are driving what's going on at the universities and these protests, they will cause, they can be happy to cause biden to lose because that would allow them to turn to the democratic party and say you have to do what we say in the future.

stuart: how do you see the war itself ending, wrapping up? if how and when? >> well, look, you know, the enemy gets a vote. so when the fighting starts is kind of up to hamas. but in terms of israel's security, i think israelis are already thinking about what's e the next phase. the next phase is you build a demilitarized end zone that shields you from these guys. then there's a question of what does governance look like because you don't want hamas to rebuild with, be back where you were in six or seven years. and you still there to think about long term what's the strategy for hezbollah, what's the strategy for us. and that you have to wait for two things. one is the american election because it's totally different in dealing with all three of these situations if it's a trump. and the other thing is, look, netanyahu's probably not going to survive this election. he's a war leader, they'll let him through the war, but after the war there'll be an election, and he probably won't be in charge, and then what does the

governor. nance of israel look like. all those things are factors that when you get beyond the immediate crisis, they kind of have to wait the think through that. stuart: i think so. too many moving parts here. james carafano, thanks for joining i. >> thank you. stuart: yes, sir. one university appears to be caving to the anti-israel protests. it's brown university that agreed to hold a vote on divestment from israel. now, in return protesters agreed to remove the encampment from the central campus and put an end to demonstrations. that's appeasement behavior, mark. do you approve? >> i don't. i mean, all we're doing, if we do this, we're reenforcing bad behavior. it's teaching these students a lesson, and that's a bad lesson which if you want to get your way, go and act a fool and eventually somebody will cave and give you your way. here's what these colleges need to do, it's kind of a three-pronged approach. well, number one, here's what we need to do. parents need to sue. they need to ask for tuition refunds. number two, donor donors need to cut off donations which we're

already starting to see that happen, and three, the federal government needs to stop providing taxpayer dollars. stuart: agree entirely. mark, thank you very much, indeed. quick check of futures. we're still down, dow 25 off, 56 down for the nasdaq. the end opening bell is next. ♪ ♪ i can't see me loving nobody but you for for all my life ♪

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stuart: three and a half minutes to go to the opening of the market. a little red ink on the left-hand side of your screen. nothing too serious at this point. shah ghailani's with me. all right, shah, we have a slowing economy. interest rates look like they're going to stay high. inflation is picking up. why -- isn't this a time to sell stock? >> no, stuart. we're still in a bull market. now, year to date in s&p 500 terms we're still up close to 5%, 4.5%. so still, you know, very positive. i'm positive on the market. this is not unexpected that we're going to see some kind of pullback, some profit taking, perhaps a correction of the 10% range, maybe even more because, yes, we now if realize hat

goldilocks economy -- that the goldilocks economy is going to have to face higher for longer interest rates. and that's what the market's worried about right now. but, to me, we're still in a bull market. this is an opportunity. buy the dips. stuart: okay. so that suggests there will be a bounceback from this correction or this selloff. can you guarantee a bounceback? what worries me, shah, is we're in a 1970s situation where stocks do nothing for a decade, and it's very difficult to be an investor like that. is that the danger here, a 1970s decade? >> i don't think so, stuart. we're starting to hear a little bit of grumbling about potential stagflation. we're -- this is nothing like the '70s. the inflation we have now is just around 3%. even if it edges higher than that, it's nothing like what we had in the '70s through 1980 and the early '80s. we're looking at reasonable inflation that seems hot because the fed has this arbitrary 2% target. really, the inflation we're seeing right now is mostly under control though prices will

probably remain up. they're not going to come back down all of a sudden. we're not going to have depreciation or deflation as far as pricing for when it's food or transportation or housing or rental properties. it's just going to continue to be elevated. but wages are rising, the economy is still growing. there's nothing that's not working, it's just starting to slow down as far as the economy goes which is understandable because rates are elevated. it's a pretty simple equation. this too shall pass. rates will come back down and the market will take off. stuart: okay. what about the election? handy can cap it for me -- handicap it for me. if biden wins, what happens to the market? if trump wins, what happens to the market? >> i think it's going to be a problem whoever wins. i think we're going to probably see some unrest, and i'm afraid of for of some civil unrest in the late summer leading up to the election because we're not going to know where the messaging is coming from. i think that's going to be a real problem this election.

regardless who wins, i think we're going to see the economy turn back around probably january, february, start to move higher. i don't think it matters. the economy is on track to get better, to move better and rates are on track to eventually come down. so that bodes well for the economy, and that bodes well for the market. i think the political dust-up is going to be front and center, and that's going to put some pressure on the market temporarily. stuart: microsoft, my stock and i think you've got a bit of it too, dropped below $390 yesterday. that was a dip. did you buy that dip? >> no, because i think we're going. to see a little bit more of a dip, stuart. i think rates are going to go higher. i think the 10-year could get to 5%, and i'll be looking to buy that dip. stuart: okay. i'll bear that in mind. shah ghailani. looks like the dow might open in the green, just a little bit of it. maybe not much. the dow is down 20 points. hardly a drop at all. that would be .09%. mostly, a loot of sellers -- lot

of sellers among the dow 30. i see about 6, 7 or 8 winners, the rest pretty much losers or. the s&p 500 also -- now, that's dead, almost dead flat. you're down 6 points, down .113%, that's nothing. the nasdaq composite also pretty much flat, down .04%, so you're not seeing that much movement on the indicators, the indices, i should say, at this point in the very early going. we're going to show you wig tec. we always do at this point. amazon leading the way, it's up $6. alphabet, microsoft and meta platforms, they're all a up a little bit. amazon's up 3%. apple, though, back down to exactly $170 a share. the chip maker amd, that is way down after their report. they want to sell $4 billion worth of a.i. chips this year. was that not impressive enough for investors? >> there were some whispers that maybe it would be $8 billion. so it's -- look, this is the double-edged sword that comes being a lead player in a hot

investment theme, right? the expectationses are super high. and when your stock's up 75% other the course of the last year, that hurdle continues to get higher and higher. i guess a disappointment from the standpoint that they didn't blow through expectationses. stuart is amd, you call them the little brother of nvidia? >> they're the second biggest a.e. chip player, right? and they haven't had nearly the run that nvidia's had. if you're looking the kind of play catch up, stock's down7% today, give it a look. stuart: i will steal that expression from from you. super micro, they're down 10%, is it? if 12 percent now. they had a robust outlook. the bar must have been set pretty high. >> this is your data center servers which, obviously, you need as part of the a.i. movement. but again, the trouble-edged sword -- double-edged sword. this is a stock that's up, like, 200% this year. it's been trading like a meme stock. i know you love your meme stocks. [laughter] again, when you're up 200%, you have to blow through

expectations. you can't just meet 'em, hay need to blow through. they tonight do that. stuart: earnings reports, an interesting tell about the economy. yum brands for a start, they own pizza hut, kfc and other chains. they report a surprise drop in global same-store sales. it's a bit like mcdonald's yesterday. consumers pulling back maybe for inflation? >> that's what they're saying. they're saying it's because of inflation. but you look at a yum brands which is pizza hut, taco bell, kfc, you look at mcdonald's, you look at a starbucks, you look at pepsi e and coca-cola, if you sell sugary beverages and/or fast food, you are not doing can well. and and they want you to believe that it's just due to inflation, because flakes' a short-term headwind. inflation's a short-term headwind. however, what they're not telling you is i think glp-1 drugs are really impacting them. to to to ozempics of the world. dew stuart do you believe that? >> 100%. and that is a long-term headwind

to all of these companies, and they're going to have to evolve. they're going to have to figure out how to roll out better food items on their menus. starbucks has been -- do people go to starbucks and buy a cup of coffee black? probably not. they're going there and they're buying sugary lattes and the pink drink. that's what you see happening with these fast food stocks. and because so many people are getting on this glp-1 weight loss kick, they're shunning these kinds of restaurants. stuart: you're assuming there's a lot of people on these kinds of drugs. >> it's growing, and people are becoming more health-conscious. even alcohol stocks have been beaten up because ozempic has an effect on alcohol consumption as well. stuart: does it really? >> it does. stuart: interesting. pfizer raised their profit outlook because of cost cutting and strong non-covid sales. now, they're down 34% in the last year, up 22% today. -- 2% today. you a buyer? >> no, not a big fan. eli lilly happens to be our

number one pharmaceutical holding. mounjaro, the glp-1 drug they have. pfizer, yes, they're doing better as it e relates to their non-covid line, but it's still a covid play, or old news. i'd rather be in something fresh. stuart fourth stock never does very much, does it? >> pays a decent dividend. stuart: cvs, it's tumbling, down 17%. that's a 4-year low. they slashed their full-year outlook. they say soaring medical costs in the insurance unit. i don't think they said anything about shoplifting and shrinkage, and i think that might be a factor at cvs. >> that's a great point. one of the key things that a cvs or a walgreens does is they get people to come in for their medications. now, cvs is having ab issue with medicare advantage, it's really beating them up from a cost standpoint, or but you get e people to come in and pick up their medications and and then get them to buy an overpriced

snicker bar or whatever it might be. they're all a locked up. you can't get to 'em. [laughter] so the things where they generate the majority of their profits, it is no longer frictionless for a consumer to pick up a snicker bar and go and pay for it. stuart: fair enough. let's move on to starbucks. they're way down as well with. they had a report out, and they are struggling with weak demand. again, it's pricey coffee driven up by inflation, and consumers are pressed. >> 100%. so the lower e-end consumer is hurting, middle america is hurting. even the higher end consumer we saw last week, very disappointing results. revenues were down 20% for gucci. starbucks is a very expensive cup of coffee, but they're also dealing with some other changes. there have been some boycotts over their stance on the israel-hamas war, they've had some labor union issues, and they hiked prices up substantially to the point where it may be deterring some customers. stuart: got it. all right, mark, you brought

some stock picks. i'm interested in citigroup to start with. >> all right. stuart: what's so good about it? from both of these are turn-around plays. obviously, we're starting with citigroup. citigroup over the course of the last decade has become this global financial con glom can rate that always disappoints, always disappoints. you look at their performance over the last 5 years versus, let's say, jpmorgan. super underperformer. they're getting back with on track. they're doing some great things. investor expectationses are so low, this thing's trading at a 30% discount to tangible book value. if it, if they actually just prove that a they can get back the blocking and tackling, this in stock has 50% upside over the next 24 months. stuart: oh, that would be juicy, wouldn't it? >> it would be great. stuart: paypal. >> another turn-around story. these are guys who saw the shiny, new object as we were emerging from the pandemic. they wanted to be a jack of all trades, but sometimes you end up being a master of none. and in doing so, they wanted to get into buy now, pay late err. they wanted to get into stock

trading. they are now refocusing on their branded checkout button, total payment volume up 14% year-over-year. expectations were up 10. that's a stock that i think should be up today. stuart: got it. thank you, mark. here's what we have coming up later in the show, president biden if. en has pushed through more than a dozen new regulations in just the past few weeks. liz peek says that proves biden's panicking about losing in november. liz is on the show. donald trump could be jailed over his gag order violationsing in the new york criminal trial. if they do put him in jail, what would happen? former u.s. attorney guy lewis deals with that. >> los angeles police did not respond to the violence and chaos at ucla until several hours after it started. why did it take so long? the report from ucla's campus is next. ♪ ♪

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stuart: mayor adams in new york just ghei an update on the columbia protests and arrests. he said some protest leaders were not students. external actor it is hijacked the protests, that's what he's saying, and we must push back on all attempts to radicalize our young people. the police took back control of the columbia campus in the middle of last night. got it. let's get back to the pitched battles that broke out at ucla overnight. william la jeunesse is there for us. what's the latest, william? if. >> reporter: well,s stuart, you know, ucla had been very proud of their hands-off approach and respect for free speech and allowing the liberation zone to take place here over the last 10 days. then last night the chancellor declared the encampment unlawful and threatened students with discipline, but they did not act. well, the question after last night, what do they do next

after this simmering situation finally exploded? about 50-100 pro-israel counterdemonstrate theres about 111 p.m. showed up to take -- 11 p.m. showed up to take down the encampment themselves. they were met by sticks, bats, pepper and bear spray. private security here with t-shirts did nothing to intervene. >> look at a this, they're throwing things at each other, they're pepper spraying each other. how are they allowed to have weapons on campus? it's unbelievable. >> reporter: so a brawl broke out on the lawn. both sides giving and getting. there was a mix of students and outsiders, for sure, on both sides. now, the pro-palestinians, protesters, repelled the others with pallets, plywood shields laced with nails, there was hitting and shoving. according to the daily bruin, the campus police only had 5-6 officers on duty at the time, and they left when they were

assaulted. lapd and chp showed up about 22-3 hours later -- 2-3 hours later. >> we're seizing an immense amount of pepper spray if sprayed by the pro-palestinian protesters. this is supposed to be a peaceful protesten on campus. we're not seeing that. >> reporter: so the chancellor, gene block, issued this statement: we support peaceful protests but not activism that harms our ability to carry out our academic mission and pa makes people in our community feel bullied and threatened. chancellor along with the presidents of the university of michigan and yale are scheduled to appear before congress but, you know, stuart ors every university president system is faced with this question. number one, do they allow these tent cities to take place and knowing that they're a time bomb, right? number two, do they call in police who can break them up, or do they take a hands-off approach. and finally, do they actually carry out these threats of

suspension or termination, if you will, as a deterrent to the students. and you can see it playing out very differently around the country. back to you. stuart: all good questions. william la jeunesse, thank you very much, indeed. ohio congressman jim jordan is with me now. congressman, where is president biden in this campus chaos? [laughter] why have we heard nothing? >> well, 'cuz there's no leadership from the white house. i mean, this is typical for joe biden. he projects weakness not only to this situation, this crazy situation going on on college campuses around or country but, frankly, weakness to, i think in a foreign policy context as well. so, yeah. the people in positions of leadership need to lead. you can't just let people take over your campus, take over buildings and assault jewish students and harass jewish -- you just can't have that happen. yesterday we sent letters to both secretary blinken and secretary mayorkas asking three fundamental questions. the people who are conducting these radical activities, how

many of them are here on a student sees e saw a? we know that in columbia, for example, 55% of the student body is here on some kind of visa. so how many of these people are involved in this radical activity here on a visa? if you know that number, have you started that process to revoke the visa, and if you have, how many people have been removed? those are questions i the the american people deserve an answer to. but the biggest problem is the people who are supposed to be in charge, you have to be in charge and not let this chaos just happen. stuart: but the white house is considering a listen to bring palestinian refugees from gaza and bring them to america. you're shaking your head. i guess you don't like that idea. >> well, it's just crazy. what, are you serious? we're going to do that? this is, this is gaza that elected hamas, and hamas is a terror organization that attacked our dearest and closest ally, the state of israel, and you're going to bring people here? what are you talking about? why don't we do the smart if thing, let's do everything we can to help israel win. they're fighting the bad guys. israel is the good country, the

good guys here. why don't we do that versus putting a temporary pier, sending supplies to the enemy of the pooft people away want to win. i do not understand it. stuart: congressman, marjorie taylor greene just said that she would trigger her resolution to remove speaker johnson next week. what do you make of that? >> i hope that doesn't happen. i think that's a mistake. i'm not for another motion to vacate, for goodness sake. we need to be focused on mike johnson should stay as our speaker, we need to be focused on the election which is now six months away. the number one priority e is electing president trump. i think we're going to take back the senate, and we need to keep the house. if we do that, we can do good things for the american people versus what's happening on college campuses, with the economy, the price of fuel, the border situation, all those things that are a result of joe biden's lack of leadership and poor policy decisions. we need to focus on making sure president trump wins this election this fall. stuart: jim jordan, always a

pleasure. thank you very much for being with us. >> you bet, stuart. take care. stuart: coming up, there are times when the president should be out front leading. surely the anti-semitism on campus is one of those times. but biden has shrugged it off. that as' going to be my take at a the top of the hour. treasury secretary yellen says people are generally better off financially in spite of price increases, but poll after poll shows people feel worse off than they did four years ago. we'll deal with that next. ♪ ♪ you're out of touch, i'm out of time. ♪ but i'm out of my head when you not -- you're not around. ♪ you're out of touch, i'm out of time. ♪ but i'm out of my head when you're not around ♪

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stuart: it is fed decision day. big deal. interest rates are expected to remain unchanged after inflation data rose two the months in a row. edward lawrence is with us this morning. all right, edward, you're our fed watcher for the day. what is jay powell likely to stall signal today, no change? >> reporter: exactly. and he'll likely be forced to signal that. the fed says it's data-dependent. all the data shows that inflation is more sticky than first thought. it shows that overall inflation is actually rising, and the former federal reserve presidents are saying that this is not a 2% environment. >> they will not be raising rates this year. not cutting rates. of it's more likely that if things stay as they are barring a shock, and this is real possibilities of shocks, they'll have to raise rates at some point if they're going to get inflation back from 3% to 2%.

>> reporter: the administration from the president and cabinet members pointing to unemployment rate under 4% for the longest stretch in 50 years. they point to a mauler time frame -- smaller time frame where wages grew faster than inflation. here's the treasury secretary testifying yesterday. >> so people generally are better off in spite of the price inebb creases. -- increases. but we know we have more work to do, and president biden is very focused on areas where he can lower costs. >> reporter: the president can't message his way out of the fact that all prices are up 19% from the month president biden came into office. food from the grocery store up 21% in that time. shelter costs, including rents, up more than 20% if january of 2021. and this is what people feel. the fed is trying to stop the increases as the president pushes for more spending counteracting the moves that the fed is making. stu?

stuart: got it. mark tepper's still with me. [laughter] i just have to ask, there is the possibility, remote, remote possibility of a rate hike this year. what would the market do if you had a rate hike? >> you would get more than your 10% correction. i think you would have your 20% bear market. ien mean, the market would absolutely sell off. just look at what's happened in april. april was a month where the market was down maybe 4% or so after a great start to the year. we entered the year expecting almost six rate cuts. that's what the fed fund futures were telling us. that's down to about 1.2 today. all of a sudden you start baking in a hike? watch out below. you've got problems. stuart: you got it. there's hope it doesn't happen. all right, mark, thanks for joining us for the hour. always good. still ahead, liz peek, kansas senator roger marshall, kevin o'leary and bill hemmer. the 10:00 hour of "varney & company" is next. ♪ ♪ we're beautiful ♪

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