where the lapd will be front and center explaining what happened in los angeles and why they closed the schools in new york and other places in america did not. extraordinary stuff today. neil cavuto, is yours. neil: is very confusing. two responses to the same threat. looking at the left, l a and the right, just outside our studio, it was a threat supposedly from abroad, that appeared to be a threat from abroad, new york city officials thought it to be a sham in l.a.. in california, what is going on, not far out from san bernardino attacks, they were not taking anything for granted, dismissing any such threats, there might have been something in this threat that got police commissioner bill bratton's attention in new york, as not credible. we don't know what that was that

would indicate it was not some extremist threat but we do know that he immediately dismissed it, told his boss the mayor not to make a big to do over it, very different reaction in l.a. where as we speak it prompted evacuation of all schoolinhe students from kindergarten through 12, 900 schools, 180 public charter schools, so it is a big deal there. the better part, at least in that neck of the woods, not take any chances, the flip side of that is when you do take such chances to all floyd the schools being filled, you do get the reputation for responding inert knee-jerk way that might be what bad guys like. it is too soon to judge. we're giving you two different reactions to this development. connell mcshane has a lot more on what he is piecing together.

connell: bill bratton is a central figure in this, the police commissioner two times, currently and back in the 90s serve in the same capacity in los angeles so he knows both cities and he did as you point out receive the same threat as the los angeles officials received this morning and decided was not credible. what we know about that threat, we tell you what bill bratton has said it was an electronically delivered threat confirmed by fox news to be received by a school board member in los angeles and reviewed by the police department, the police department deemed it to be a credible threat. apparently spoke of detonating a bomb and backpack and other packages according to the reporting on fox news, they deemed it to be credible and decided to close the entire school district. h huge undertaking, 900 schools, 700,000 students, teachers and staff capone for the day, business involved as well as officials ask employers to be flexible so you have to presume many people were allowed to go

home and care for their children today. as for bretton he said the person who wrote this threat, the same one received by new york, los angeles, made mistakes, claimed to be a jihadists that made the errors that made clear to bratton in his experience and those of his colleagues in the nypd who are experts in this kind of thing that the person was not jihadists at all but was a prankster. he said he is certain, absolutely convinced is the language he used the there is no danger to schoolchildren in new york. the team did not to be credible. we will see at this news conference we are alluding to, has been pushed back an hour. maybe an hour from now we will get more from folks in l.a.. neil: out of the usual form, a typical -- to dismiss l a's reaction to this saying it was an overreaction or something to that effect. connell: not only dismissed but criticized it began heat said,

the former police commissioner in los angeles, that they, they being los angeles, overreacted, that is what he said by deciding to close down a school system. we know that the intent of terrorists is to terrorize, to scare people even if they are not going to act on their threats and bill bratton is convinced this was a hoax, that it was not credible and must feel strongly, just at news conference in new york, must feel strongly that the important thing to do here is to stand up to this and to not act on something that you know from your own experience that you know, use terms like convinced, that you are certain is not credible, that it is important not to shut down a large school system a huge city, new york is the only system with 900 plus thousand students, larger than los angeles, 640,000 so new york chooses to stay open but the second largest school district in the nation chooses to close down today.

that is huge. huge impact on people's day-to-day lives but also on the psyche out there after what happened in san bernardino. that clearly influenced the decision in los angeles, it clearly did. neil: you can't dismiss it to your point. a lot of people have been judgmental, did they overreact, new york neck of the woods, they had a horrific shooting and in that environment only a week or so after, you could understand the abundance of caution but now i guess the fear is it will lead to copycat threats which was bill bratton's concern. connell: the superintendent in los angeles who we saw in the news conference earlier, he said i think the circumstances in san bernardino, what happened internationally, i as superintendent will not take the chance with the life of a student. to your point you are giving these people what they want if

it is a non credible threat date you give in to lead but his concern living in the environment he is living in and knowing what happened not far from the city he chose to act differently. neil: we will go back to connell mcshane with updates. want to bring your attention to markets right now, they have been unaffected by of this. there was a slight downtick when we got reports of similar threats in the new york metropolitan area but only a small -- about 20 points, not a big drop, already substantial triple digit increase but a lot of this a day ahead of the federal reserve decision on interest rates, the fed meeting today to start that two day meeting when it is widely expected fees will go ahead and cite interest rates a quarter of a point. the afl-cio has a statement that it would be the wrong decision for working people for the federal reserve to go ahead and raise interest rates quoting from the afl-cio statement too many working people not feeling the economic recovery because of

stagnant wages. in months to come the fed should focus on a polish eagle that real wages to rise with productivity, working people deserve to be better lives by sharing the wealth we all create. the message from the afl-cio, don't do it, it looks increasingly, 80%, tomorrow at this time they will be ready to pull the trigger and do it. back to what is going on in the heat terror in the greater los angeles area, two retired fbi agents, you already heard l.a. overreacted, new york reacted just right, what do you think? >> if it is a hoax it is a hoax. bill bratton thinks it is a hoax i have confidence in his decision making but he may be defending his decision not to close the schools down so defending his position to

underreactive that is what he is doing this type of thing does create in the climate we are living in right now on the heels of san bernardino i can understand why they made that decision today out of what we say, an abundance of caution. neil: if someone well schooled in these kind of threats, what brings it to the levels that this is more than a crazy calling in, what brings it to that level? what would do it? >> the nature of the threat given the proximity to what happened in san bernardino and how close it was in time to that event but we have to remember it generally jihadists do not warrant about events. if you have something you want to attack, anything, they don't usually worn people. that would be a signature that was a hoax to begin with. neil: we know the two behind the attacks in san bernardino had apparently plotted or allegedly

plotted. to target a school in the los angeles area. a high school. for whatever reason that never came through or their plans to this other attack, we don't know the order of events. we know the school was targeted. do you think that once in the authorities's mind when they opted to do what they did? >> possibly. note in that case if they did target a school there was no warning about that's a typical jihadists operation, method of operation. they are not going to warn people, there were no warnings in this particular case that may have played into today's decision. neil: we are getting more on the nature of the threat. the ferret me the school district spokesman was saying the threat was sent by e-mail to district board member from an ip

address they trace to frankfurt, germany. if it is true new york police commissioner bill bratton got the same threat or was aware of the same threat presumably from the same ip address in germany, he dismissed it for a variety of reasons. we are taking leaps, one to dismiss and the other not. frankfurt, germany location would certainly get people's that tension but look at the nature of the e-mail. >> all those factors would be taken into consideration. given what happened in california that played begin to the decision but looking at the ip address and knowing that may not be the true origin of that particular e-mail address more industrious computer hacker or jihadists may use methods to hide the true origin of their e-mail. neil: you told me you can fake

an idea address to seemed to come from anywhere. if you do receive threats and new york received from all the time, not surprising post 9/11, they have-alerts, right after that paris attack, we have heavier police presence in times square outside studios on sixth avenue in midtown manhattan, but by and large they are used to this stuff in new york sadly, maybe less so in the l.a. area. >> absolutely. you look for telltale signs of what could be a credible threat and what is not. that -- all those factors, interesting to see what was in the e-mail. how they made their decisions in new york versus how they made their decision in l.a. when it comes out.

when you look a lot of different factors you look for veracity and other sources of information. can it be undertaken what they are talking about? all those things come into play when they make a decision how to proceed. neil: i enjoy your expertise in california, a separate report that according to fbi sources the agency was asked to check out the threats in the los angeles county airy and they want to make sure they were making the right move before classes were canceled. fbi and the lapd found that the threat was not credible but they went ahead, the superintendent decided to cancel classes anyway and you will hear it this quite often, an abundance of caution, retired green beret, obviously in that neck of the would you don't take chances given what has happened, but if you find

the lapd and the fbi in concert are saying there was no need to do this and the superintendent did this, evacuate in all the schools, many of them not coming at all, did that, could that risk emboldened those who just want phone in threats or mess up with schools? >> exactly. what is interesting is we went from credible information to not credible information which is important in the intelligence community. it means the difference. neil: the superintendent thought it was credible and the lapd and the fbi, no reason to doubt them, they thought or at least the superintendent it would appear, no, this is not. what do you think of it? >> you have a decision that has to be made that ultimately that decisionmaker might be inexperienced like commissioner bill bratton was talking about and the fbi agent, it credible information that isn't not

credible information but still, the ultimate leader's decision is in question now. neil: what i always think about is wall-to-wall coverage, it is scary stuff that involved 600,000 kids focused on it. terrorists, potential terrorists, those who want to mess up our lives are going to look at this and say is it that easy key gauges phone in a threat or make it appear it is coming from abroad and off to the races. >> exactly. you don't even nude need to do the horrendous act of terrorism the great economic impact, look at what the people who have to explain to their kids why they came and got the man children will be impacted for a long time and a lot of the school board members are thinking about being reelected and what if they didn't do something and answering questions when this finally comes out what they did or didn't do. neil: do you get a sense that the two behind the san

bernardino attack for plotting something similar before or maybe right after the attacks in san bernardino, a high school was among the so-called targets. given that backdrop, given that concern, given our history of school shootings, the connecticut one, three years just yesterday, double the it tuned to this, maybe tripoli. >> i think so. a year ago when the taliban attack the pakistani school and killed so many children affected the policy of pakistan and once again the heart strings, the american love for our own children that has the most dramatic affect. neil: thank you very much, very noble, that is an upshot, sort of repricing where we stand right now, this threat that was phoned in presumably from abroad prompted the entire l.a. school system to all but shut down 640,000 students from kindergarten through twelfth grade, told to go home, it

affects 900 schools, affected 987,000 public charter schools, private included, 720 square miles out of an abundance of caution the superintendent overriding dismissive views on the part of the nypd and the fbi, may be given what was happening in the background of what has happened in the last few weeks, it any of those students, just over stay home. he did, in new york, the same for it was not greeted the same way. bill bratton saying not here, in a way, know how.

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we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. connell: breaking news, second-largest school system in the country is shutdown, largest one is open even though both received the same threat this morning, new york city, a threat

came in this morning to not be credible, los angeles, the same threat deemed to be quite credible. waiting for a news conference in the next hour from officials in los angeles as to what went into their kinking to close the schools, a couple developments we had free in the last few minutes will be key to that news conference. what is the role of los angeles police department or was it this 22 adam housing reporting from fox news and fbi sources say the fbi along with the lapd found the alfred los angeles to not be credible but the superintendent still wanted to close the schools, the undecided to do so, different from what we heard earlier, earlier we heard the lapd reviewed for a threat and found indeed was credible so what was the role of the police department, that and many questions in the next hour. neil: to los angeles where blake berman is getting ready for the latest republican presidential debate, i am sure this is providing an updated backdrop. how are things out there?

>> national security was expected to be one of the main topics here. in light of everything in san bernardino and paris we have seen over the last few weeks at least since the last debate or so and you have this, will this be brought up to the moderators, national security certainly an issue of focus here at this debate and las vegas later tonight, one in which donald trump will once again be standing front and center on the podium. he is writing his best numbers yet at least according to polls coming into this debate. a pull from washington post-abc news just out has donald trump at 30% support among republican voters putting him 23 points clear of ted cruz. 27 points clear of ted cruz, trump front and center on stage tonight but also national security one of the main issues we anticipate later in vegas. neil: stay warm out there.

let me see these developments with if they were legitimate or not or warranted or not. they provide a backdrop and invariably help donald trump because he always says be aware, be looking out for t thrts inur mst a chaie gaarinhaseen okinat thatn thtrumtheylleg onom ane, wtherhe reataterlizes gitite onot. first donald trump, this is an issue, galvanizing support. charles: anytime national security is front and center helps donald trump please also hurt hillary clinton. she is very weak on that notion given what happened in benghazi, the facts did she was part of the obama administration, this is their baby, this thing breaks they own it. and the republicans will make a lot of hay out of it no matter how good the economy is doing or

unemployment. neil: the clinton economy, security is the number-1 issue. republican fees on this but we should talk about the fact materialize they do have another impact. before the fact, one of the ironies is bill bratton was the police chief of los angeles so that is his force that decided today to use the utmost caution, closed down -- neil: was their disputes about the right to the next level? charles: by not doing that in new york. there is an economic impact. that is part of terrorism, it is horrible, when people die, that is their immediate impact but the long-term intact is to change our way of life, make us not go to malls, schools, vacation, and that is the long term, the long game, what are they accomplishing?

neil: they had nothing to do with isis or terror, but you are isis a you are a terrorist and you see this and looking at the way everything stops in the most populous region in the country. charles: the fact that it came from germany is a little telling. they -- there are terrorist cells, large muslim community there. i think if i was betting, i don't have information the cia or fbi has, if i was betting, this is a terror related crank call so to speak. to scare us and change our way of life. i would have to know. bill bratton is the sober die. the fact that he held off knows that he wasn't real. neil: in terms of the doubt in and out of what 200 point gain, all of this, terrorist scare is notwithstanding, they didn't have any impact at all. most traders are focused on what

many see as the increasing likelihood that tomorrow this time or thereabout we are going to have the federal reserve hike in interest rates. first time in ten years, that is the bidding for tomorrow. we will see.

>> more breaking news on the close of the los angeles school district and the threat the cause that to happen comes at a statement from a key member of congress, the district includes los angeles county, he released a statement saying he had a chance to review the e-mail that was sent to board member at the l.a. school district, apparently this person claimed to be an extremist muslim according to sherman who teamed up with local jihadists, doesn't know if that is true or not but he says one thing that is key and the end, this speaks to what we heard from bill bratton, receiving the same threat and decided to keep the school system in new york open for the day, asherman writes the text of the e-mail does not demonstrate that the

author has studied islam or has any particular understanding of islam. when bill bratton was talking earlier he said there were mistakes made. this person claimed to be a jihadists but there were mistakes made in the e-mail that stood out to him and right away he was convinced it was a prank. congressman sherman read this e-mail, the person that wrote it does not have an understanding of islam so take that for what it is worth. neil: i wonder what the mistakes were. other developments, i want to touch on this. if someone is able to discern from an e-mail that is not the real deal coming from an isis member, whether that means spelling or reference that is wrong, what would it make someone jump to that conclusion that it is not. it? >> you have different characteristics in the language that is contained what do they reverence in terms of islam?

are they misspelling key islamic terms? are they referencing isis, isil or some other group? plenty out there, counterterrorism experts look at and see the consistency. neil: what i worry about, remembering a lot of the writings and letters, the 9/11 attacks, linguists they were not, good smellers -- spellers they were not. in san bernardino, rentings came to light there were numerous misspellings, bad references the didn't jibe, i guess i wonder what makes someone decide this is beyond just ignorance of a language or using the wrong term? >> i would think it would have to be a combination of language, content, together. i am not an expert in that area but there are experts out there that can look at these and they

have been of letters and things they can do comparisons and say is their consistency here? neil: we always see this at a time we have heightened our campaign against isis, the president indicating he is taking the fight to isis saying he is not going to give up on that, top military commander, security team saying he is not going to do that and secretary of state john kerry will be meeting with vladimir putin, the grounds of communication and cooperation. what do you make of that? >> he has got to meet with vladimir putin. russia hold all the cards in this case. they established themselves ahead of us, they are on solid ground in syria. they have in place missile systems, troops in place, in bed with bashar al-assad's government, they are on solid ground.

in the quicksand in eastern syria, northern iraq trying to piece together different coalitions and the more we maneuver the more we are caught in it. we need russia's helped to defeat isis. neil: also, the breaking news, former navy seal, you see what is happening with the dow closed session highs of the day, 217 points, the junk-bond market, high-yield market along backing up in rates, the big fall we have seen where average player's lost 10% of their value in 48 trading hours, at that anticipated a little bit as those begin to come back a little bit, the fear is that were rented just yesterday that eased somewhat on the expectation the federal reserve will have increased rates but i always hate the basin to any time i show you the market is a snapshot. the images shot. there you go. i have asthma...

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neil: a little over 24 hours away from a fed decision that the pecan trees for the first time in almost a decade, cabin near zero for the better part of 7 years and the markets seem to be prepared. what we're looking for is an opportunity to see back-to-back gains in the market. i don't think we've seen that in 27 or 28 days, lot of people pounce on such things, an ominous sign we're dragging this

without the gains, i think it is looking at chicken entrails and tea leaves but among the market, first they're passing along so it would be significant if we had a gain to met yesterday's. we have people far more schooled in this the night. scott marden and jeff taylor to you first, is it a big deal, tomorrow not withstanding for those who technically follow the market that we have a gain today after a gain yesterday because it has been a wild? >> tomorrow is not the big deal. the big deal is what happens after tomorrow. this is the new regime of the fed which is one that is on the interest rate hike and the market and their own currency has to come to grips with it, which is stronger dollar which hurts us which is higher interest rates, for use the consumer that wants to borrow

auto loans or mortgages, the new regime of interest rate something that the market is not prepared for. neil: i was surprised looking at the markets, markets out of california, they didn't blink, it didn't affect so much the single drink. we didn't see the terror tumbled fear. what do you make of that? >> tomorrow the act of moving rates higher is not that important because that discounted the markets but that narrative, what is the fed going to tell us about future rate hikes going to look at? that is the uncertainty, that highlights how important janet yellen's press conference is going to be. neil: we will be covering all

that but it is interesting to me, maybe markets are indian or use to terror threats. when they happen in paris, when they happen here in san bernardino, they take it, but they move on from it. today the threat in california, completely nonplussed. what do you think? >> an unfortunate situation that we have seen somany of these events over the years, they are in me into it, we care a lot. but a moment ago, very important, interest rates. >> the fed hikes tomorrow, the vetting, what do you see happening is a quarter point? it is in language she spells out, what do you expect the market fell up? >> it is a quarter point and incredibly important for the housing market, to help the purchase market because for ten years people have been sitting

back saying i will get to the purchase market, by house eventually, the first rate hike will get people off the streets. the time that it is gone. >> i actually think what typically drive mortgage rates is the long and treasury curve. of the fed will tighten, the longer the curve will like that. treasury yields will stay within a range and mortgage rates may be well optic cable bit but i don't think with the dollar being strong and rates moving higher is a bad combination for the u.s. economy so i don't see that unfold in. >> the markets they're going to raise rates they must think we are percolating. that could explain some of them. >> the market doesn't like uncertainty. we get closer to this day we find out what the fed will do but i still think janet yellen's commentary will be bleak. i don't know how she can look at

this economy and be confident rate hike is needed right now. i don't know if the market will take that well. neil: we will know tomorrow. speaking of which this is the place to be for fed coverage beginning at 1:00 p.m. eastern time through the fed decision threw janet yellen's press conference and that is the crucial event. and will be joined by bill maria bartiroma and lou dobbs, charlie gasparino and a host of other players and the avengers financial team at your service but i am physically larger than the other players. that is built to scale. in the meantime we have the latest. connell mcshane has been busy on latest developments out of l.a.. new york acted one way and elected another way. what is behind york's police chief of a sudden jump in the glee over his old town's reaction to this terror threat? that is next. ma, at t. rowe price, our disciplined investment approach remains. we ask questions here. look for risks there. and search for opportunity everywhere.

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connell: we'll wait a news

conference from officials in los angeles, they should down the second-largest school district in the nation today, and gained an e-mail threat that came in to them from overseas to be credible, the largest school districts in the nation in new york city received the same threat and deemed it not to be credible. earlier today, from fox affiliates in new york of new york city officialss, the insurer on the left side, bill deblasio the police commissioner, bill bratton, explaining their reasoning, they bourke-white diss missive of this e-mail with kenyan los angeles, bill bratton said it is being investigated, the person who wrote it questioned the red jihadists that the mistakes and it was clear from the mistakes this was a prankster. one mistake, the spelling of the word lallah with a way, he ran

the police department, have joe during a news conference, you knew from earlier today, he sent the e-mail, had watched a lot of showtime series homeland. that is what bill bratton really was from his language quite dismissive of the same threat in l.a.. we will see what they say. neil: could have been becoming so. of day. other developments out of washington, congress is close to agreement on delaying at least three and owners provisions, taxes and obamacare they have a very generous insurance plan, they paid extra for is that. the medical device tax, a bipartisan concern, republicans and democrats saying this is very understanding wanted done and the health insurance tax affects the well-to-do but bottom line what congress is doing is choking off the funding

of taxes, this was built in to this, you take all of these means by which you pay for this coverage and you don't have any means by which to pay for the coverage. the substitute that you would have gotten to support an affordable care act that is looking less so. ♪

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it's not going to fit up liftthe stairs.legs. what time does goodwill close? google voice: goodwill is open till 9pm. show me a moving company nearby. google voice: moving company within 6 miles. how do i get to 3221 carter ave.? 226 hyde street. google voice: here are your directions. when does my package arrive? google voice: your most recent order has shipped. thank you. setting new home address. text mom: i really like it here. neil: who wins, who loses if they be interest rates 1/4 of a point, gerri willis has been looking at that. >> you won't get much of a break. a quarter of a basis that 1/4 of a point, that is because the banks want to hold on to their

margins here and they are flush with it did they are not begging for deposits. 50 basis points, interest-bearing checking accounts 46 points and 1.1%, that world continues. however if you have a credit card, home equity line of credit and adjustable-rate mortgage you will pay more for it over the next few cycles, credit-card russian debt 15.7% to 16, charging about 4.75%, going to 5, average mortgage rate is baked in at 4%, debate in this increase, even last april where lows of the come since then. big expectations, mortgage rate at the going got so if you are looking for a house a loan this might be in good time to do that. neil: reddick start moving up, they are going to keep going. >> is there a lot of people that they're in that position who are

dying to get into the market? it may be we have seen a lot of those people but if we can help the housing market a little bit, the question is what is the language that the fed uses when they make this announcement? are they going to say maybe we are not really excited to get back and do as this, more if they are very aggressive. all of that could change what happens to consumers, could change rates on those products. neil: thank you. following these, you got to -- you really can't have a life if that is what you are doing but that is what i do. if you price them another year route the betting seems to be a year from now we will be at 1.4, 1.5% on bank lending rates for federal funds which is 1.5 points north of where we are now because we're zero. former reagan economic adviser art laffer enron and then what? that would be a lot higher,

historically a lot lower than averages. how would this economy respond to that? >> with higher interest rates, market-driven higher interest rates would be really good for the economy but is this is up bunch of professors who have never worked in the real world telling you what interest rates should be and they don't have a clue. they are exercising their authority which i think is a real disaster. neil: mistake to raise rates? >> they should get out of the way of rates and let them be at their natural level which would be higher than zero. i never heard of a natural market with interest rates today is the expected real return on capital is very low because we are in a long-term obama. depression and with those real low returns on capital you will keep interest rates low because the real rate of return is low. we need to get that return up and what you were talking about

with medicare and obamacare if any of these tax cuts, pro-growth agenda pushes the real rate up which would be wonderful for the economy, that is where i think we should go, let the rates go where they would naturally, have the fed set a rule, the gross, the quantity of money, the value of a dollar bill, get out of the way of markets. neil: i won't hold my breath for that development but i agree if you go back to historical means, 1.5%, likely a year from now, that could be wrong, historical norms are closer to 5%. if you want to split things around 3%, that could be a shock. >> i don't think it is a shock if it comes from increase in the real return on capital. is the exact reverse. they are the same number of lenders as followers, and the increase in interest rates of 1%

benefits the lender and hurts the borrower but if the borrowers are borrowing because they have tremendous investment opportunitys available that is the most -- neil: that is a big jolt from zero, how quickly that happens. >> uber the next president takes office it should be very quick. once you get a flat tax all these guys are proposing, deregulation, sound money and all that stuff i think we could see a very large boom in the market with real rates in the 5% range which is where they were under bill clinton, ronald reagan, jack kennedy, that is where they were when we had the boom going and that is where they should be allowed to go in the future. neil: you are bidding with a republican president, which you want to see, working with the republican house and senate the likelihood of tax reform at the very least lower taxes is arraigned in that environment. >> repeal of obamacare, lower tax rates, all the deregulation,

we could get a market like you have never seen. phenomenal bull market. that is honestly what i am anticipating. neil: mentioned obamacare, the three funding vehicles, the device tax, a cadillac tax, republicans -- that is the means by which you pay for this thing and this thing is hurting. >> i think it should be repealed and i don't think it should be paid for and it should be dropped but these are taxes that have huge deleterious effect, very small based taxes at higher rates which is the antithesis of -- you want lower rates, broad based, not higher rates on a narrow base. neil: put you may be on obamacare, i will see you, thank you as always. we might be getting some relief out of california, looks like this threat that prompted the shutdown of the l.a. county school system might not have been warranted. we are looking forward to a press conference, why they did

what they did and whether it was an overreaction, whether it was an abundance of caution. they didn't do that. there was a shouting match between the two after this. if a denture were to be put under a microscope, we can see all the bacteria that still exists. polident's unique micro clean formula works in just 3 minutes, killing 99.99% of odor causing bacteria. for a cleaner, fresher, brighter denture every day.

neil: minutes away from an update out of l.a. authorities may be involving the fbi. connell mcshane has the latest on that. connell: why they took the step of closing down the second largest school system in the country. more than 900 schools, nearly 7000 people when you add up students, parents and staff home for the day. a threat similar to the one received by new york city. home of the larger school district in the country. police commissioner bill bratton

here in new york, we have already heard from. the news conference was rather short. they said they would have more information at the one they're about to hold now. this e-mail threat, going through what they know about it or what we have been able to trace, and address in germany. either the same one or very similar to the one in new york city. bratton is saying that the school system in los angeles and the superintendent did not consult with the police department. is that true? that is one of the questions that we need answered. the e-mail was just generic in the way that it was worded. a number of different places paid suggesting it was not plausible. some of the mistakes he identified included saying that they were gg -- the person

behind what he called a hoax, maybe a fan mail of the showtime series homeland. the threat followed some of the recent pop patterns. homeland has been said in berlin, germany. neil: maybe he is a fan of homeland. connell: i guess. it is interesting to see how these people handle this. neil: some other developments. joining an anti-terror alliance. peter is a former defense secretary here at it is always good to have you, peter. the fear that this has. the attention it garners when it is a threat. it takes a step that he did in california. very easy to criticize. facing what happened in his neck

of the woods. i can easily understand that. so many kids lies that state. isn't that that the kind of thing that terrorists love to see? >> sure. it may also promote other copycats to do the same thing. even if they are not terrorists. i think that there will be a wash appear after the events. they are sure that there is no threat and there will be lessons learned. hopefully they will learn something from this and they willshare that probably at the national and local level. neil, may have mentioned this. the white house is apparently been in conversations with l.a. and the fbi. trying to get the update on what happened. do you think that the white house will start saying things? you scare people. do they ordinate it in a

response. >> i get it. even if this was a hoax and big people sped up, we want to be productive here at remember what just happened recently. we are still under a persistent threat. i hope that washington handles it appropriately. we can all learn from this. new procedures will be put into place. you can help them sort this from real activity. >> back to l.a. the authorities are speaking there. i do not see a representative of the fbi. let's listen in.

>> paint on past circumstances, i could not take the chance. as it relates to one student or our staff that serve our students. it is important that in the last four hours, this city, this community has come together on behalf of our students. our students that are in regular schools. our students that are in the charter schools that are authorized by this school board. we are taking all sorts of precautions. our plant managers are walking the campus with law-enforcement people. our plant managers and principles with law-enforcement

are looking at all of our schools. small large schools etc. you'd we have made sure that our parents are notified through connect ed messages and we have repeated that time and time again. those students that walk to school, especially young children, neighborhood children, we have had the principals meet them at the gate of the school. they were not dismissed intel parents came to pick them up, a guardian, etc. we are doing everything possible to make sure that children are safe. also, students and parents understand that the precautions we are taking our done in a calming way. are done in a way that is in the

best interest of everybody in this particular city. not only is it the city of l.a., as you know, the schools are strict. many independent cities. we have reached out to them also. unincorporated areas in the school district. i have reached out to the board of supervisors. i have reached out to the city council. i have notified the state superintendent of schools. i have notified the secretary of education. mainly, because there are no secrets. somebody sent information that leads us to pause and make sure that we are safe, that our children and staff are safe.

nobody could be more interested in this city than our mayor. our mayor and his staff, his staff has joined as early this morning. our mayor is here now. i would like to turn it over to him. >> make you very much about mr. superintendent. the decision to close the schools is not mine to make. since then, san bernardino, we have seen our colleagues there that have asked for the help of the los angeles police department did as that shooting unfolded. this morning when l.a. usd reached out to the police department. we are here to ensure that people are safe in the city. it is very ease for people to jump to conclusions. i have been around long enough to know that usually what people think in the quick hours is not usually what plays out in the later hours.

decisions need to be made in a matter of minutes. i had been immediately on the phones when we learned of this. to washington, the ceo of mta. making sure that students can travel on our buses and rail lines. make sure that they are able to get through the city without having to worry. we know a lot of parents have to continue to work. cannot afford to miss one day. local law-enforcement here. very expensive and experienced training in leadership. connecting some of the dots nationally on this. we reached out immediately to our federal law-enforcement officials. talking to our counterparts. learning of other places. realizing not the only city to face that threat. we will continue to hope that

this is nothing. our children can be back at school tomorrow. i am certainly here to support this school district. helping to ensure that each one of these campuses are safe or all of our children. we will continue to be here. we have also activated the city's emergency center at level one. our lowest level, but constant staffing. my number one priority is keeping the city safe. i will continue to do that. a incredibly well trained police force. it could have happened. we may not ever be able to conclude that. i do not want people to say,

because sometimes things do not result in a shooting or do not result in a plot to not speak up and not speak out. we need to continue to have people see something, say something. learn how you can be more vigilant as we continue to live our lives here in the city of los angeles and the values we hold of our freedom and liberty. foreign. neil: just see you know, he is saying in spanish, the same exact thing he said in english. he believes that the superintendent did the right thing. he is not judging one way or another. that is not his call. some criticism expressed by the new york police chase.

this was unnecessary. let's continue listening. >> contacted by that l.a. you. a very specific threat that had been delivered via e-mail to a number of the people on the school board. after reviewing that threat, we became very concerned. we contacted that pim began to work jointly with our joint terrorism task forced. we would be a lot to give the school board and the superintendent our best advice on moving forward. we are able to do that. the superintendent made a decision. we support his decision as does the mayor. i would say that to people that are critical. it is very easy and hindsight to criticize a decision based on

things we never could have known. it is also very easy to criticize a decision when you have no responsibility for the outcome of that decision did the school district safeguards three quarters of 1 million lives every day. when they make a decision, they look out for los angeles. it is irresponsible based on facts that have yet to be determined to criticize at this point. all of us make tough choices. all of us have the same goal in life. we want to keep our kids safe. these are tough times. we risk putting our children do the same. i am also joined by my partner of law enforcement here.

the other half of what keeps the region safe. i would like him to say a few words. >> welcome. just be able to add another reassurance that we are working very closely together once we became aware of this issue. we immediately became a contact. the information that is available to all of us. in this region, we have organizations that come together in a way that i think you would all be very proud of. although we cannot and do not really talk about it. we are working together to ensure that the 700,000 young people who go to l.a. unified are safe. we continue to move forward with that kind goal in mind.

i thank you for your understanding and working with us. we deal with this very difficult issue. thank you. >> thank you. i want you to meet the chief of school police. then i will turn it over to the board president to introduce the board. >> good afternoon. i just want to say again to all my law-enforcement colleagues, honorable mayor, as indicated before, sometimes we have to make tough decisions. i assure you, our number one priority is the safety and security of not only our students, but our staff as well. we go based on the information that we have. we collaborate with our law enforcement partners. lapd now has taken the lead on this.

i assure you the chief of police of the school district. our campuses are having a look through as we speak. none of our schools will be reopened until i feel that we have been given the information to those folks that are out there in the field right now. checking each location. based on lapd's continued investigation. based on the collaboration and communication with sheriff mcdonnell, chief back. finally, the briefing with the superintendent. at that time, we would make a decision to open up our schools. thank you. >> good morning.

i want to thank the mayor, the chief, the sheriff, our chief of police. especially our superintendent of schools. on behalf of the entire board and the entire board is gathered here in solidarity. in support of everyone who is working and has been working through the night to keep our children, our schools safe. so they can return to be the anchors of our community. i want you to know that i have never been prouder to be an angeleno than i have been over the last few hours. this entire city has come together. this is not an easy situation.

this is difficult day for teachers who want nothing more than to teach our kids and to give hope for the future. the only thing that is more important to all of the civic leaders that are gathered here today, the only thing more important is the safety of our children. we will make sure that that safety is assured. working together as all of us have feared i want to say him again, to the leadership of our community. our labor partners that have stepped up in every way this morning. our business community.

we will need your patients. we will need your understanding. not only for our schools and our teachers, but most especially for our families. more than the employees today, more than any other role, our parents and guardians need to be parents and guardians. the superintendent and it seems. the law enforcement partners. we will make sure that we will do everything we can to make sure you do your job. we thank you for keeping our communities informed and engaged and making sure that we will be able to continue with the business of education and los angeles. neil: we will continue to monitor this. they are taking a little bit. beginning with the superintendent. really not necessary.

640,000 students from kindergarten and home. they may have been making twice. bill bratton said that the same threat, the same outside threats supposedly from germany. that is not has not really been indicated one way or another. that it was not necessary and that it was a hoax. connell mcshane joins me right now. having said all of that, they apparently are not reopening schools yet immediately until this is resolved. >> it sounds like it has been from the language. the last or one of the last officials to speak their was scheduled to point out that. in a normal circumstance, what happened in l.a. being the only event that we are reporting on today, mr. bill bratton said

nothing in new york. the same threat received here. that would have been the headline. the schoolchildren not allowed back in the school until the all clear was given. they clearly had heard what bratton had said it were focused on that. the superintendent starting out. the police chief charlie beck and others. yes, they were supportive of their superintendent. it was his decision. he has made this hall. it is different here in new york. bloomberg file for years. giuliani started this when he was the mayor. they have control of the school system. this woman named carly fiore not, we barely heard from her today. by the way, it used to be the school chancellor. back in the 90s.

>> amazing. things calming down a bit. a lot of back and forth on this. i have former police chief with us right now. what do you make of this? >> what has happened is l.a. was driven by the school district. it may have been a little premature. a very tough call. based on the intelligence. they receive it aced on their communications with the joint terrorist. they came to the conclusion it was not a credible threat here at it sounds to me like this train has left the station before that kind of analysis was done. neil: the way they are talking, the schools will not reopen

until america is completely satisfied. obviously, they think that there's still an element of danger there. what do you think of that? >> i think that from what i'm hearing from what i am getting, probably not a credible threat. based on that, they have to play out all scenarios. >> a lot will go back and forth. just then the entire school system, this many kids, over 600,000, that alone begins to be a scary disruptive measure. >> absolutely. these things are very tough to call. there is no way to answer. the only answer you can get is a wrong answer if you do not act properly and something happens. it sounds to me like they made the decision.

>> yes. i think you are right here at thank you. we are still monitoring that press conference. they said that they support it. they made very clear, is shutting down the entire school system. we will have more after this. ♪

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neil: in the middle of the scare in l.a. the terror fears are alive and well. the fact of the matter is we have gotten growing concerns on the refugee program and whether that is putting a lot of innocent lives at risk especially some unmanaged to get in here have bad intentions. that was a lawsuit over this very program. what are you a to?

>> asking about this program for some time. we ask for basic information about how the program was being run. the state department is the key agency here, they coordinate with nonprofit groups, displaced refugees and we ask for contracts and information about how those programs are being run in various states and basic information about where the money is being spent and the relationship it has to documents that are supposed to be shown. neil: has that information provided? >> nothing has been provided. neil: she reason for the delayed response? >> the state department and government agencies, you have to sue to get their attention and take them to court, and fight even to get that done. but this previous story shows you local communities have to deal with the after effects,

national security concerns policeing more effectively, and non profits in those, and if these documents were helpful they were released in a heartbeat but the president and obama administration, and these refugees had been placed, the no. cv refugees by 20 times despite than connaught being able to get some properly. the terrorism related issues, we know they look at facebook, how possibly could we figure out whether those people are good or bad and we want to know under his care they are going to be, voluntary agencies, nonprofits given more importance by the obama administration for police mr. cheney's refugees in law

enforcement. neil: let's go to wisconsin, running out of money, that are coming here setting up efforts along the texas/mexican border, and congressman, what do you see and what do you know? >> secretary borough has sent a letter to one of the representatives on the appropriations committee, $400 million with the appropriate it number. by the way they did not spend all that money. they didn't spend $280 million of it. we believe in congress they had adequate resources to do it but what this is violating his failure of the immigration policies causing these factors to get children to come here from central america. neil: he turned it back to you

and republicans saying you don't come up with an immigration policy or help us, you are just no no no. you make my job difficult, my executive pen does stuff. >> there is immigration policy in this country and i suggest to the obama administration they could start by enforcing current policy and current law. if they did that they would have large heavy footprint on what is going on in the way of illegal immigration in the united states right now but they also stem the tide, the tragic tied by the way, of children marching as much as 1500, 1600 miles from honduras through guatemala, mexico, and being mugged, raped and murdered prior to coming here. one factor the administration has put in place that causes guatemalans parents to push their children out is what the big issue is. neil: is king to be an almost seasonal event. thank you very much, monitoring that very closely. monitoring also what is going on

at the l a press conference where authorities say there's more to this threat, bombs and weapons and that sort of stuff. it appears that is much ado about nothing. there was a big deal today shutting down an entire school system the second largest in new york. we will be updating that, updating you, 24 hours ahead. a key decision. stick around.

neil: welcome back, the dow is down 193 points, market's

worries about interest rates possibly going up, funny way of showing it. very nonplussed by the fear is the started the day in california. one of the justifications for the federal reserve hiking interest rates is to give the fed's some wiggle room in case they do something in the future rankings turns out and the economy weakens and we have another financial crisis. terry klein on whether the fed could run out of ammo, a former aide to timothy geithner error. i see are we doing this to just build a cushion? we don't need right now? >> you are right. the economy is growing 2%, inflation is low, it is troubling below, below the fed's estimate. only the real justification for

raising rates now is to build that ammunition for the next recession. we had a very long economic recovery or period between recessions now and the fed is nervous because it wants to have ammunition to be load the gun to fire again the next time a recession comes. neil: if you are going to reload the gun you will need more than a single bullet, you will need several bullets, several hikes for to give you that question. >> that is exactly right. the fed is going to talk about how gradual the peace is going to be, how data dependent it will be. it is my believe they will be starting a process to reload the chamber. dials a point out with the chamber reloaded itself, going into this financial crisis everybody believed in this theory called the zero lower bound when you cut and set rates below zero or a tiny bit above norms 05, 7, 13, not exactly zero because they thought the system wouldn't work with

negative numbers. look at europe at-0.3. neil: to that astute point, former fed chairman ben bernanke talking to market watch, financial colleague saying the fed should consider using negative rates to counter the next serious downturn, thinking negative rates are something the fed should continue, already the case in europe, it had been the case in japan. what do we make of that? >> that it believes in the zero lower bound, reality trump's theory. next time we going to crisis, they will be prepared to go below zero. neil: people here that rates are negative and i give you $99 or $100 against $99 back. >> exactly right.

it isn't good but it is where europe is. the fact that europe is going negative and we are starting to lift off the divergence. neil: does that divergence worry you? >> it will have an amplifying the effect with the real economy, 25 basis points may feel more like 40, 50, because of the change in the value of the dollar. neil: excellent point. thank you very much, appreciate it. aaron klein, we will know tomorrow won't week? what the federal reserve details tomorrow. after that move, whatever it is, we begin coverage at 1:00 p.m. eastern time, commercial free as we wait for the decision and the press conference afterwards, best and brightest and everyone else here will be doing all the work we can to give you in english what the fed and whether a decision of any sort will be as historic, if it is a hike, we

have been getting used to a generation getting used interest rates at or near zero, the party could end tomorrow. depending on your definition of a party. joe lieberman on that and much more. ♪ ♪ how else do you think he gets around so fast?

take the reins this holiday and get the mercedes-benz you've always wanted during the winter event. hurry, offers end january 4th! [bassist] two late nights in blew an amp.but good nights. sure,music's why we do this,but it's still our business. we spend days booking gigs, then we've gotta put in the miles to get there. but it's not without its perks. like seeing our album sales go through the roof enough to finally start paying meg's little brother- i mean,our new tour manager-with real,actual money. we run on quickbooks.that's how we own it. connell: time for your fox business brief, we have a rally going on in the stock market, no impact from the threat the close the school system in los angeles we have been talking about,

investors are focused on the fed, reid decision tomorrow, the rally ahead of that 2 points on the dow, a few things going on, number one, the rate hike may not be a sure bet but is moving in that direction about 75% off, the futures market to the credit market coming down, a big story the last few days especially the stress test and the third thing is oil. oil taking a break and with that, energy stocks are helping to lead the 200 point rally, 3% higher today, and exxon and chevron are three examples of many in that sector. health care doing well, energy helping to lead the way up, 206, back in a moment with more. technology empowers us to achieve more.

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information for an athlete's medical care, or information to track their personal best. with microsoft cloud, we save millions of man hours, and that's time that we can invest in our athletes and changing the world. neil: just to let you know the federal reserve meeting has begun, it is a plea today of fair, it will conclude tomorrow after 2:00 p.m. eastern time, 24 hours from now all, we will know their decision whether to hike in rates and betting seems to be brisk doing this. if you poll those who put air bags on the real money, fed funds futures contract, the authority christ it. and looking out for the rest of the year and into the new year, we will be at around 1-1/2% by

this time next year. former senator, vice-presidential candidate joe lieberman joining us right now. senator, you followed this very closely when watching the fed moves, it gets a great deal of attention, what motivates that move, rarely has the fed gone up or down in one single step. the bedding's does seem to be that we will see series of rate hikes, jaws earnest until the wire indicating in a statement today that the economy is stronger than it has been in some time. if you look at the basis of the economy? is the height warranted? have we been spoiled and necessarily? may be risky? over the long period of time? >> i know what you mean. here is what i would say. the federal reserve through monetary policy played a critical role in getting us through the great recession,

going into a depression. there is no interest rate, the situation has gone beyond what a lot of people felt was justified so it is finally time, i think our economy is in strong enough shape to take it. i don't think i will agree that there will be a big hike, and they're reasonably concerned about the impact not only on our economy but the rolling impact on other economies like the european and chinese who are less secure than we are today. bottom line i expect an increase tomorrow. i don't think there will be higher than a quarter point and our economy, we are stronger now than we have been before. neil: if i can give it to the los angeles development center, a scare which prompted superintendent there to shutdown schools, 600,000 students, kindergarten through twelfth

grade, it was a dramatic move, one that was endorsed and supported by authorities in los angeles but you had the feeling all the way up to them mayor they were saying less the 2%, they might have thrown him under the bus but having said that do you think such moves, built an abundance of caution, create more panic than they address? >> these are tough calls. there is that risk. if i was the superintendent of schools i want to find out from the police and the fbi as quickly as we could whether it was an incredible threat. if they thought it wasn't because of the dislocation involved in the middle of the morning, i keep them -- probably ask the police and bomb squad and all the rest to come in, rapidly raise security, i understand -- i don't want to be critical of the superintendent

in l.a. he saved the lives of a lot of kids in his hand and he acted cautiously. personally, sounds to me like bill bratton, the commissioner in new york, based on what he said, made no wiser choice. neil: do you think bill bratton went a little far to criticize the l a decision? should have left the fact that he wasn't going to shut down the schools, took extra measures saying the guys l.a. overreacted. >> a surprising statement by commissioner bill bratton. i have a lot of respect for him. i assume he has some background on the nature of the thread that was called in the l.a. schools and the new york schools and otherwise he would not have said that. he is worried about panic. he is worried about -- basically worried about letting either the terrorists or some pranksters terrorize the american people more than they should be

terrorized. he was on the right side of this one. neil: always good seeing you. thank you very much. joe lieberman. what a big backdrop for the debate in las vegas tonight with republican presidential candidates. i have a feeling there are issues that will come up, isis related questions will come up and what transpired today in california, whether it was an overreaction will come up tonight. and why donald trump is probably hoping it does. come here... ...the person behind this desk will have to protect your family. will he be impulsive and reckless, like donald trump? will he have voted to dramatically weaken counter-terrorism surveillance, like ted cruz? will he have skipped crucial national security hearings and votes just to campaign, like marco rubio? 27 generals and admirals support jeb bush. because jeb has the experience and knowledge to protect your family. right to rise usa is responsible for the content of this message.

>> your matt -- not imagining it. his lead is widening nationally.

and will make them front and center at the big presidential debate. acquire the establishment figures backing donald trump very early on, state senator, had the opportunity to look at his fellow new jersey in chris christie and opted not to. >> great to be here. neil: you heard this, told the republican establishment for lack of a better term there was this, all meeting in washington to discuss stopping from, broken convention where you have donald trump leading and they're making every effort to stop it. they denied that? donald trump is worried about that? ben carson heard about those mack nations, said he would not want to be a republican if that is the case. what do you think? >> i don't think the gop establishment ever imagined

donald trump would be getting in the race and doing so well ended is a real problem because trump has millions and millions of supporters among the gop and if he gets the most delegates and the gop establishment tries to prevent him from getting the nomination, that will be a total disaster for the republican party. neil: if he doesn't have the magic number necessary, close but no cigar. we had that in our history including 1860 where the party heavyweights in a follow-up resorted to abraham lincoln. has been done. what would be the big deal? >> it is the new year. the party has asked donald trump to commit that if he is not the nominee he will support the gop nominee and won't -- in the same vein the gop establishment should commit that whoever gets the most delegates in these upcoming primaries that the party is going to go ahead and support that candidate.

neil: most delegates does not mean you have the magic number. many have more delegates in the battle to give them damage to get over the top. i mention lincoln. what is wrong with just preparing for the possibility? >> it will depend on who the ultimate candidate is. i am supporting donald trump. most trump supporters it is not from want to see -- bernard: 1 haven't you done that? >> he is 2% in the polls nationally. neil: back in the third in new hampshire. the main debate tonight. >> he has put a lot of time into new hampshire. i give him credit for that but if you look at national polls in the environment we are in, the terrorist attack in san bernardino, donald trump identified the main issue in this race and people want security, control on immigration, and without donald trump in the race these issues

would not be discussed. neil: donald trump and the party, would you support him as an independent? >> i am a republican, republican elected officials, elected and reelected, i will stick with the gop. i am confident donald trump will -- neil: if he doesn't get it you would support whoever the nominee is? >> i am sticking with the republican party. neil: even if he runs as that republican -- independent? >> i would encourage him not to do that. you are going to have a race, if you try to win and don't win you still need to support the winner. neil: very good seeing you again. i have a feeling this will come up in the debate. we will have more. d see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea

powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. is it keeps the food out. for me before those little pieces would get in between my dentures and my gum and it was uncomfortable. just a few dabs is clinically proven to seal out more food particles. super poligrip is part of my life now.

we were in a german dance group. i wore lederhosen. so i just started poking around on ancestry. then, i decided to have my dna tested through ancestry dna. it turns out i'm scottish. so, i traded in my lederhosen for a kilt. neil: we will know tomorrow at this time. the federal reserve for the first time in a decade. interest rates are moving up.

how that could affect your money. we will know with some of our all-stars. our best and brightest here to sort it all out. >> i will see you there. thank you so much. the nation's second-largest school system shut down. the threat mentioned explosive and vices. i am trish regan. welcome everyone to the intelligence report. students kept home. the area of right now on heightened alert. terrorists killed 14 people. >> i want you to know that i made this decision to close the school. i could not take the chance as it relates to one student or our staff that served our students. >> we have a lot of information coming into