welcome to kudlow, i'm larry kudlow. senator marco rubio is going to pay us a visit and i hate to say

it, but we're going to have to report on it, today east dow down 605 points and falling at the close. now, first up, our own madison alworth live from the bronx. madison, how is it up there? i'm dieing and nobody will let me go. i wanted to go and we've been here for hours and you can see behind me, the stage is set and crowds are coming in and we saw people lining up as early as 9:30 to see the former president speak. reporter: he's set to take the stage around 6:00 p.m. tonight. tonight's event in the south bronx comes off the heels of a very crowded wildwood, new jersey, rally.

others tell me they've voted blue in the past but now because of issues like crime in new york city, they're planning to vote for president trump. i was able to ask voters about the on going trials here in new york and they tell me that no matter what happens, they plan on supporting him in november. the president seems to be closing that gap. latest sienna polling shows biden leads by nine points here in empire state. voters are so happy he chose to have an event in new york city, specifically in the south bronx and area that's typically quite blue, they came out to "show him love". they want to show the president they're happy he chose this location and there's people that feel that way. larry: madison, they said 3500 but going to be a lot more than

that, isn't it? reporter: i honestly think so. this morning in new york as you know, we had really bad rain around 10:00 a.m. and still people here at that time hours ahead of the event. i have a view of lines waiting to go through security and hundreds of people and i think we're going to hit that number and once everyone is in, i'll have a more accurate count and we're talking in the thousands, larry. larry: i think they'll do 100,000 easy. oops, that was wildwood, sorry. appreciate t madison. folks, in the summer of 1980, candidate ronald reagan went to the south bronx to campaign. guess where, only two blocks from crotona park and donald trump is scheduled to rally tonight. reagan criticized hapless jimmy carter for failing to revitalize urban areas and donald trump said many times in the campaign

against joe biden if elected president again, he intends to revitalize the city through enterprise zones and liberating small and minority owned businesses from the biden burns of regulatory -- burdens of regulatory tape and closing the catastrophic border bringing down high energy prices and conquer inflation and reagan and trump pledged to make america strong again at home and abroad. mr. reagan carried new york by 3 percentage points in the 44

state landslide in 1980 and in 1984, he carried new york by nine points in his 49 state uber landslide. i have no idea, mr. trump can carry new york, but i do know he's only down nine points in a recent poll compared to a 23 point loss back in 2020. is just like reagan did. all right. that's the riff tonight. for more on all this, we just held the buses for one moment in order to bring in rich law reigns leading, ed -- rich lowry, editor in chief of fox news contributor and welcome back. we should be up there.

i mean, we could still get it. >> it's the game earlier tonight. >> yeah, going the way we've played and going straight to the rally. my saintly wife's art studio is right next door. it's a national shot across joe biden's bouhlel. >> look at both campaigns and joe biden moving going to certain states and blue states to maintain and shore up the base and here's donald trump going to some place like star trek, republican man going where no republican man has gone before except reagan. abandonment in cities and states to the democrats presuming they could never be won.

that's a attitude that's horrible, it is incorrect, and people not only want a choice, but they want to know, they want to have some kind of symbol that you are generally interested in them and that's what it'll take to get this country back on her feet this. is the kind of move that does that. it also signals to the rest of the country the strength of trump, larry: at that rally and being a unity coalition of his. rich, i don't know if mr. trump will carry new york or not. i don't know. i'm not smart enough to know. he has a lot in common with reagan's coalition and one thing overlooked in the trump policy mesoimagine asking his -- messaging is his insistence we revitalize cities and talks about it and never gets much

play. it's true. he talks about yes, lower taxes, deregulation of the minority-owned businesses and talks about enterprise zones. very big deal in his first term and loves to expand in the second term and school chose choice and bringing back law and order. >> can't have thriving cities with high levels of crime and what's been happening and these i think what we're seeing in the polling is potential trump voters among latino and black voters and has to go get them and do ev events and do the woro get out the vote and all the rest this. is reaction against the left f. you took the average latino male and said do you agree with traditional fdr democrat more or larry kudlow more, probably the traditional democrat more. for fdr. the woke democrat or larry kudlow, they're with larry kudlow. and trump also, there's a residual cultural affiliation with democrats among the voters and trump transcends the republican democrat thing. it's not being for a usual

republican because his own personal brand is so strong, and he and his predicting electionss and attitude has more in common with the average latino male than a member of the fair in time as the construction worker. larry: so some extent and his credit and to where people can identify with him, he still has a lot of queens in him and you see that all the time. i think people will identify that, queens is not so far from the bronx, tammy bruce. >> right, this is why that guy who'd never done politics before and goes to washington, being able to handle what it is they're throwing at him because he's dealt with new york his entire life. it requires you, it pushes you into dealing with everyone in trying to understand everyone. at least negotiating and finding out what matters to people and

being passionate enough about it to where it doesn't bore you, you care about that and it excites you. that's the nature of donald trump and still don't understand he's not a guy that's changing from a primary campaign to a general campaign hawaii do the people want? look at his finger looking for the polls for the wind. he's just himself. to this day. he's the same guy. >> the border is a huge part of this and traditionally the latlatinos and going ahead by trump's five points this weekend and they say it's worse off with

all the illegals. larry: trump makes the best of it. i mean, this is -- he's having a rally in cotona park, bronx, south bronx and it's becoming a national rally. people all over the country by the end of tonight are going to know where cotona park is -- crotona park is in the south bronx. >> mr. tram subpoena loo lo lood deal dealing with this and shrinking back going into the corner and trams has something else interesting him beyond himself and people see that every day in court or at a court beyond the bronx. >> next week, shoot a live show in the bronx, larry. larry: yeah, and yankee stadium is an the corner.

rich and tammy, thank you very, very much. coming up next on kudlow, gnat sore marco rubio on isis coming across the boarder and tax cuts and deregulation and beefing up defense. stay right here, marco rubio coming up next on kudlow. (psst! psst!) ahhh! with flonase, allergies don't have to be scary. spraying flonase daily gives you long lasting non-drowsy relief. flonase all good. also, try our allergy headache and nighttime pills. ♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. voya provides tools that help you make the right investment and benefit choices. so you can reach today's financial goals and look forward to a more confident future. voya, well planned, well invested, well protected.

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larry: fox news bill melugin live with all the the details. bill, what do you have? >> there's no resistance whatsoever here in the boarder and state of california and people all around the planet pouring in here and waiting here and take a look at this video and massive legal crossing here in hacumba and primarily chinese and turkish and some bringing luggage and others talking on the phone and we walked in and tried to talk and some were friendly and others did not want to be on camera. take a listen. reporter: where you from? >> china. reporter: what country? china? >> china. reporter: china? what country? >> india. reporter: where you going? >> america. reporter: you're in america. what city? >> i don't know.

reporter: you don't know. why'd you come? >> i don't know. reporter: where you from? china? you from china? is china? what country, china? no? china? reporter: it was about a group of 100 primarily chinese and one man from turkey and money turkish man sold everything he had to come here from the united states and be across the boarder and he was shocked at how easy it was and no resistance when he crossed over and said that americans should be worry that had it was so easy and they should worry about the kind of people crossing the border. take a listen. reporter: did you have to pay a cartel? >> yes. reporter: how much? >> $10,000. american people is right, completely true. who is coming to this country, they don't know.

what if they're not good, killer, psychopath. what else. no security check or background check. reporter: no security or background check. you're worried about who's crossing the border? >> yes. people don't know. reporter: larry, there's groups of illegal immigrants behind us waiting to be picked up by border patrol. they're waiting for hours and they're overstretched and there's no agents here and come columbians got tired of waiting and called a lyft and a lyft came and picked them up and drove them away and they'll be considered got aways. they're gone. send it back to you. larry: wow, bill melugin, great reporting. we appreciate it. staying with the border issues, i spoke earlier today with florida senator marco rubio maabout that issue and a lot mo. please, take a listen.

senator rubio, thank you for being with us. the yes is what should we do about the board instruct her >> we have to stop the continued flow. i have know hope of that because the biden administration is continuetology allow people to have the country and releasing them. they say we vet everyone that's at the border. they can't because if you, some of the parts of the world people come from, we have no information or data bases from there. so we don't know if they're terrorists or here to do terrorism. if you think about this, it's 9, 10 million people and a small percentage of them and coming from all over the world, just a small percentage of them have been sent here to conduct terrorist attack, that's a lot

of people. that's a lot of terrorism. this is one of the most dangerous moments in the united states and sheer number of people co coming from all over e world and have no idea who they are and isis has been in the business of trafficking people to the u.s., and charging them to do it and common sense tells you if they have a business moving people, they'd use terrorists to move that same network. larry: we were talking last night on this show and this very subject, there's a lot of people coming in from the middle east. there's also a lot of people from china. able-bodied males and a whole bunch of chinese coming in and clean shaven, dressed up with suitcases walking across the border. essentially unhindered. and nobody knows who they are or

where they've gone. that cannot be a good thing. >> this isn't immigration, it's mass migration and it's uncontrolled and chaotic and it's not good by any means and groups from all over the world and middle east and central asia that have cells of isis terrorists and al-qaida terrorists that seek conduct and i believe and have reason to believe and i think we all have reason to believe based on common sense that in the country right now, there's people here for the purposes of conducting a terrorist attack. how many? who knows but too much.

larry: nobody believes in that and what's happening with that? do you know anything else? >> only what the media reports and what he has to do to fix the problem, he's in a vice. he has to reinstitute the trump program and that's what he got rid of in the executive order over 90 executive orders on immigration and executive orders telling border patrol and dhs not to enforce the law and creating all kinds of exceptions of the law, whether it's parole, releasing people pending an asylum hearing and allowing people to come in and turn themselves in and go.

we have to deport the criminals and your numbers are so big and uvchanged your view from a few years ago and i've changed my view and a lot have. the number haves got ton be so huge. >> i've changed because the issue changed and problem changed and difference between being brought here as a child and lieutenant 10, to 11 million here and common sense and last time last year joe biden has done in the last three years and joe biden is done. that's a big difference. and so what is it that drives illegal migration? it's perception f. you believe getting here is easier than it used to be and staying is easier than it used to be, there's a good chance to get here and good chance to stay, you're going to come. that's what's driving people. when trump was in office, they didn't think it'd be easy and get here and didn't think it'd be easy to stay and numbers went

down. larry: got it, roger that. i'm probably one of the premarket guys you'd be criticizing in the piece and i love the column. suppose i said i agree our defense industrial base has faltered. i agree with you. and suppose i said to you i agree our manufacturing base has falter and weakened. my great friend bob lightheiser agrees with that and you're right about that . then the question is though, how much government intervention do you really want? >> i don't know about government intervention as incentive and incentivize bringing things here and do that in two ways and put tariffs on foreign imports in the key sectors.

look, i lake to do it on everything but that's not ideal economically. you have to do it on sectors you've identified as critical to the national interest. and not just military gear. it's pharmaceuticals and act to make medicine and rare earth minerals and the chinese manipulate and these are critical to national interests and those are the industries unnetted to identify and then incentivize and you think in the case of rare earth minerals, chinese are subsidizing it and being sold on global market below the cost of mining it. there's no way to compete against that unless you yourself have to step in and do something to create a marketplace you have to be care and feel this can't expand to every business in the industry and this is some things

to do and denying entry into the marketplace on these critical for the goods and commodities and deliberately manipulating the market and strategic imperative. larry: i agree with that . look, i think unfair trading practices is the catch all and chickly regarding china but not only china and european union has unfair trading practices and as you know, we worry about china sneaking through mexico to dodge the umca. my thought here, senator, we noa fortune over 1 trillion on the misnamed inflation reduction act and all this crazy climate change that the public by the way rejects and why not be

vigilant in unfair trading practices and use tariffs where necessary to negotiate and meanwhile, cut tax rates and cut all the biden regulations so we would provide sentence for manufacturing here at home and take the red tape out of the equation. so be a combination and go after unfair trading practice but let's have free market on lowered tax rates and regulations at home. >> 100%. larry: what do you think about that? >> that's 100% right. we want to create the incentives to do it here and create a disincentive to bring in things unfairly being brought here because they're being subsidized or manipulated from china on all kinds of industries and we want to avoid.

spends it on part of the broader narrative and climate change and not geared towards the national interest and geared towards a base of their party. that's totally different than what i'm for. larry: that too. in just a few minutes, we've created a whole economic policy white paper just in this short interview. you're a great sport, thank you for coming back on the show. >> thank you. larry: just a couple minutes. we put together a whole supply side and tough on trade and senator rubio and hate to say it and stocks down over 600 points today and we'll have oil man mike summers, economist mike

faulkender and taking around and figuring out why i'm kudlow. lots more cooking.

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larry: here to tell us about the dow is gerri willis. >> noted pretty. start with the broader market and all three averages down and interest rate and fears off blowout and nvidia results and take a look at numbers and dower down s&p 39 and nasdaq off by 65 and hot manufacturing results and causing investors to see the federal reserve.

in september and going for you'd ya and first quarter earning ands announcing a 10 for 1 stock split and a thousand a share and very first time and and treasury yields moving higher on news the 10-year yield approaching 4.5%. larry, i send it back to you and saying goldman sachs ceo saying no rate cuts this year. back to you. larry: i think he's on target. thank you, gerri willis. bring in our distinguished experts and mike summers, president and ceo in the american institute and michael faulkender and former assistant treasury secretary and jackie deangeles, cohost of the big money show. jackie, i'm going to begin with you on the stock market. higher for longer. i think that's a key story here. >> the market's finally getting it; right, larry. you come on the show and we come on and talk about the data and

there's no reason for the market to think it's going to get rate cuts this year. yet it's been very exuberant and congressmens from jamie dimon. larry: what's he say something >> we could see a hard landing after all and jerome powell didn't get this right and we'll be stuck in a state of stagflation. why the action is really important is because it separates ai out from the rest of the market is doing. ai is going to continue to move forward and we're in the very early innings of this and industries and going to necessarily make profits going for technology and sectors and retail and from the consumer, it's not a rossy picture and a positive sign, it's a wakeup call for investors and market

going up is, up, up and everything is great and there's a very big disconnect between the ai boom and policies from this administration that are impacting the rest of the economy. larry: i think the selloff starts yesterday down 200 towards the close after the fed minutes came out. i don't want to be minutia in the minutes and the fact is they basically said higher for longer. that was the watch word. larry: i have a little list. i'm not going to read it. about 250 things in it. just some of the things. this is why $80 a barrel being twice 40 a barrel and it's very inflationary.

antifreeze, an histamines, ballpoint pens, ban dangers, cell phones, clothes, computer keyboards and monitors, i pads, iphones, laptops, deodorant, eyeglasses, okay. shampoo, shaving cream, shoe polish, solar panels, mr. biden, tennis rackets and tooth past. that's just a -- tooth paste and that's just a fraction. petroleum derivatives affect the whole economy. you knock down petroleum and you limit the price and production and keep the price high than you're going to have continuing ongoing inflation. there, i said it. fall on that? lapi? are you the head of what? >> american petroleum institute. larry: just wanted to remind you. >> you're right. one of the big reasons dealing with the inflationary pressures and high energy cost and administration doesn't get it. right now they're trying to put

forward new investigation on the oil industry and it is their policies that are putting up giant wet blanket on the american blanket. meet with solar people and wind turbine and meet with them and stand on his own two feet and met with the gas people and what i want to say is it is time and high time for the president of the united states to come and meet with the american oil and gas industry. larry: this current president? biden? >> we had the opportunity to meet with president trump just a couple of weeks ago and outlined our agenda and he outlined his and no crime in doing that.

we want to meet with president biden very soon and going for them and undermining american oil and gas and what they're doing now is they're continuing to release more oil and gasoline and petroleum reserve at a time we're going to see more driving because of memorial day holiday. we estimate that 400,000 gasoline and the united states and going to ease the pressure of american consumers. larry: i'll go back to your list and i want to go beyond your list. one reason is it's very nearly impossible to tame inflation and it's government spending. all right. i don't want to let that go. we talked about it last night and the fed is pushing down on the break and fiscal side and biden spending tithe tide with the foot on accelerated to the floor.

unless the spindling stops or slows inflation won't either. >> that's right. almost all of it is going to be deficit finance and so what you've got going on is way too much stimulus going into the economy. at the same time we don't have domestic capacity in order to serve those needs and bringing it back to ai, just let you remember ai is realizing that ai boom and how is it we're going to stay ahead technologically of the chinese while at the same time with the energy. we've got to get spending down and deregulate and got to be consist that if the source of growth, if the south of economic power is going to come from technological advancements, we've got to grow to provide energy domestic. larry: apropos of nothing, i had

senator rubio on, and he agreed on need for deregulation and lower tax rates. he was not -- mentally surprised and did a little economic white people there on the set and in the interview and the economy yearns for that . i think the -- the whole chicago and that includes -- what is drill, baby, drill. fundamentally it's a deregulation of fossil fuel restrictions and permitting and all the rest of that stuff. how much difference would that make? >> it would make a massive difference if you bring down one of the largest input costs, which is energy, that'll impact how businesses run efficiently and possibly and bring prices down and going to be good for the consumer. tags talking about tockses and consumers paying more for stuff, that's an extra tax.

you can't species blood out of an onion and say my kids have two or three jobs and can't make ends meet. they're exhausted and they're killing themselves and that's the disconnect and new survey saying most americans feel like we are in a recession. that's how it feels when they go to the grocery store. >> went up 6,000 and more than the entire biden/obama administration. last word, faulkender? >> not just shareholders that pay corporate taxes and workers and customers because a lot gets passed on in the form of price increases or lower wages and that is not the way to generate growth and i am prove a lot of

american people. coming up on kudlow, alvin bragg's phony trial moving towards end game. i hope s. hue hue wit here and byron york will be here. we'll be right back. i'm kudlow. lternative to pills, voltaren is a clinically proven arthritis pain relief gel, which penetrates deep to target the source of pain with nonsteroidal anti-inflammatory medicine directly at the source. voltaren, the joy of movement. (bell ringing) someone needs to customize and save hundreds with liberty mutual! (inaudible sounds) (elevator doors opening) wait, there's an elevator?

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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. people couldn't okaysee my potential. for. so i had to show them. i've run this place for 20 years, but i still need to prove that i'm more than what you see on paper. today i'm the ceo of my own company.

it's the way my mind works. i have a very mechanical brain. why are we not rethinking this? i am more... i'm more than who i am on paper. larry: welcome in hugh hewitt and fox news contributor jonathan. thank you, gentlemen. i appreciate it. hugh hewitt, professor of law at chapman university, all of these years and i want to talk to both of you about possible jury instructions. is this right or wrong: it's been reported one of the instructions that merchan will give to the jury. if the payment has been made in absence of candidacy, then payment should not be treated as

a contribution. meaning an election, presidential election year contribution. hugh, i think that's what one of the instructions is going to be and i want you to tell us how important is that because it seems on the surface like one of the brighter spots for mr. trump but you tell me. >> allowing brad smith to 26 on the election commission as well as chairman and knows the law and hi could have helped the jumped out but the judge wasn't having anything of expertise. larry: non-disclosure grooms don't violate the campaign log. i mean, he's a member of that election committee.

>> that was asked andeningsed -- and answered and should have never got here. larry: do you agree with what hugh said on this point, we don't know that merri bowl chan will issue this instruction but it was reported and this is a nk jury and everyone is making fun and it's a terrible case and hard to find anything illegal. byron, what's your instinct tell you now that going over and going over that and going for that concern and going for trial and fully believing they would absolutely 100% be a conviction.

possible to have a hung jury and one or two not buying it, but i just don't know. another huge issue in the jury selection is so-called other crime and how many time haves we been talking about the "other crime" the one that trump allegedly intended to do that made the whole thing a felony. and the prosecution never listed or came out and said this is it. this is the specific other crime. well they give a few theories to the jung and jury can accept one of the theories or the other and convict trump. it's a multiple choice test we found out. jurors do not have to agree on what the "other crime" is. larry: how damage asking that, hugh? byron make as good point i think. if there's a conviction, hugh,

it's not my favorite option, but if there's a conviction, even though there's an appeal, how damaging polit lit will that be? >> i think the conviction is baked into the polling now. i don't believe anyone will believe it's a legitimate connection who already decided to vote for joy biden or donald trump. it's damaging to the rule of law and representation to new york justice for this trial to have unfolded this way. two other things to point out, byron is right about the lack of specificity of the other crime and basic constitutional law that defendant haves to know what they're charged with so they can prepare their defense. it's also to me very, very obvious this judge should not have been on this case and made very symbolic and small donation to joe biden is two anti-tram and $35 total. what do you make a symbolic

contribution for that everyone knows you're the tds judge and trump derangement syndrome judge and i don't know any other judge and i've been practicing law for almost 40 years and i don't know of any other judge that made a contribution to a political campaign who would then sit on a judgment concerning the candidate for that campaign. it's astonishing. larry: good point. byron york, i have 20 seconds or so, is a conviction baked in the political cake right now? >> it is for almost everybody. trump's base won't care and might make them support him more. the polls told us there's a small group of voters saying they're open to possibly voting for trump but they wouldn't want for trump but they wouldn't want to if he were convicted felon. larry: thanks. and they don't 'circle back', they're already there. they wear business sneakers and pad their keyboards with something that makes their clickety-clacking...

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larry: that's it for kudlow. thanks for watching, folks. ♪ -(theme music playing) -♪ bad boys -♪ whatcha want, whatcha want ♪ ♪ whatcha gonna do ♪ when the sheriff john brown come for you? ♪ -officer: you better stop... -♪ bad boys, bad boys -♪ whatcha gonna do -♪ whatcha gonna do when they come for you? ♪ -hands behind your back! -♪ bad boys, bad boys ♪ whatcha gonna do ♪ whatcha gonna do when they come for you? ♪ -announcer: "cops" is filmed on location