okay? and what do you think is the fingernail that grows the slowest? it is the thumb. didn't know any of that. don't forget, monday, former president donald trump will be joining me right at the top of the show, that will be 9:00, 9:00 a.m. eastern, monday, former president donald trump right at the top of the show. "varney" & company, times up for me but cheryl in for neil today, cheryl, it is yours. >> i have a question for you, which cable anchor likes to leave the building at 12:02 p.m. stuart: stuary varney. >> have a great weekend. thank you, stu it's true. he's out of here at 12:02 welcome, everybody to cavuto "coast to coast", yup, i am not neil cavuto, i'm cheryl casone, but i'm in for him today. we have a ton of news coming your way during this very busy hour, lots of jobs added last month, but not enough. will government cool it with the easy money? we're going to talk to some

struggling restaurants who are bugging for an end to these hand outs. plus, the largest ever crypto conference underway in miami right now. we are going to be there, live, with what investors think of everything from government intervention, to china meddling. >> carnival's newest and largest ship docked in florida right now , but will the ship set sail? the battle over restarting the industry, and preserving your rights. but first, that may jobs report not as strong as expected, and it made a push to end those extended unemployment benefits. fox business edward lawrence is live from washington with all of the latest, hey, edward. reporter: hey, cheryl you talked about it below expectations but within this report some very interesting things. look at this. leisure and hospitality adding 292000 jobs, and that's still down 15%, from where it was in february of 2020, healthcare added 22, 500 job, manufacturing up 23,000 jobs in may, but look at the losses.

retail down 5,800 jobs, and construction seeing big losses losing 20,000 jobs and that could be the input costs of building homes going up like lumber so the bottom line here is president biden earlier today trying to take credit for a growing economy. listen. >> 51 million more adults have gotten vaccinated making it easier for them to return to work safely. in short this is progress. historic progress. progress pulling our economy out of the worst crisis its been in 100 years. reporter: but some economists point to the unemployment benefits that they are paying people more to stay home, holding the economy and job creation back. also, all schools not open for in-person learning, both government-imposed restrictions on the economy, so labor secretary marty walsh defending the extra federal unemployment plus-up as the president said, it's good attending. >> we saw people out of work. we saw people looking for work. we have people that need to put food on the table and a roof over their head, and we still

need to continue to move forward here. i think this report shows that the unemployment benefit is not necessarily keeping people out of the workforce. what it's doing is supporting families that are still out of work. reporter: michigan governor gretchen whitmer doubling down on the extra $300 a week in federal benefits. she proposes a plan to allow only part-time workers to work and still get the unemployment benefits, including that federal plus-up so if you look at this report the labor force participation rate, as well as the bottom line number here, it's actually a report the federal reserve will look at and see a case to not change anything related to monetary policy and that's what the market is reflecting. back to you. >> john is talking about that this morning and really what he was watching within the report is how does the fed react, maybe they won't. edward lawrence live in washington, edward thank you very much. let's bring in career builder ceo, arena novalselski. does this mean we need to end these unemployment benefits faster? remember 25 states now have

decided to end these benefits now because they need people to come back to work. >> and that's one side of it, cheryl, so we're talking about most likely, the unskilled part of our workforce. that is most impacted for the unemployment benefits and that really represents about 30% of the open jobs. the other 40% is the skilled workforce that aren't really sem unemployment and there's a lot of other factors driving candidates going into the market or candidates wanting -- >> right. we're looking at the labor force participation rate and edward was talking about that, it's at 10.2%. one of the things that i saw in this report was really interesting is some of the places we're lagging when it comes to the job market. construction, we actually saw a decline in construction jobs. i wanted to ask you about that and also, in retail, which somewhat surprised me considering that we do have the economy and the country reopening. >> and it's hard to look in

this unemployment number, because at some point, where companies are posting especially on the hospitality, leisure, and front line covid-related industry, they are posting roles and they aren't getting filled. 48% are staying open, and so it doesn't really make sense to put more job openings hyped existing open roles so it's a little misleading when you look at the unemployment report. on the construction side, we are starting to see , as we saw, mining going up and also starting to see companies actually push up wages to try to compete to get the talent that is in existence. one of the things that we seen is we have a 48-year high, an all-time high of job open meaning candidates that just aren't applying so companies have open jobs, and also, equally, the lowest amount of candidates apply which is such a unique combination in the market and so it really has so much more to do with the underlying trends of school continuing to be in a hybrid environment, of

the population that is really deciding, should i go into early retirement given everything happening with covid, that moving is now, we've seen it accelerate into a lot of different states and as candidates are moving they're not looking to switch jobs, and the majority of the skilled workforce of hiring is really about candidates switching employers. >> the other thing that we're seeing too is companies in particular in the private sector really going after candidates and with incentives whether it's bonuses, we're certainly seeing wages start to tick higher, but you mentioned schools and i wanted to kind of hone in on that, because one of the weaknesses this morning was in adult men and women. we really didn't see a change there that we would liked to have seen in general kind of a flat month-to-month number. what that tells me is that if schools don't come back fully until september, for most of the country, that means that we're not going to see much of a job picture improvement for the summer. am i reading that correctly or am i missing something here? >> yeah, i think what you're

seeing is we're going to continue to see for the next several months where the demand from an employer perspective is going to remain high, and the supply of candidates is going to continue to stay really constrained. some of the stuff we're seeing is software developers. for every open, every candidate that is a software developer there's 23 open roles. for every waitress there's 22 open roles, for nurses, there's 53 open roles so that supply/ demand imbalance is going to take some time to fix and it puts the own us on the employers to use technology that's skilled -based matching. we've been talking about this pre covid in 2019 we changed our entire tax to be skilled-base matching because that just opens up your potential applicant pool by two, three, four times when you look at can they do it versus have they done it and that's what companies are going to be faced with with maying that decision and trade-off between title and experience and skills. >> i've only got about 30 seconds with you but i do want

to ask you for small businesses what can they do right now to get people to come back to work, in particular, restaurants? >> something they need a lot is talking of bringing back small businesses and if you're finding a candidate that you like, do not wait. you have to be making an offer immediately. take them off the market. >> oh, wow like looking for a house when you want a house you want to buy. thank you very much for being here, appreciatee >> thank you, cheryl. >> well we did have markets react this morning, instantly, to the big jobs report. stock don't seem to be too worried about that report in general so does this mean the fed isn't going to taper their bond buying anytime soon. that's the big question mark, let's bring in shana sissel and courtney dominguez. >> thanks for having me. >> what do you think the fed is going to do right now because the market doesn't seem to be

too worried about inflation right now, but the market over the last month or so has been very nervous about inflation. >> i think the fed is going to continue its language that this is a transitory event and the evidence really does support that. the inputs to inflation that have really caused inflation to rise are the things you would expect. airfares, rental cars, automobile sales, hospitality, all of these things are the key drivers and then we've had some disruption that are one-time hopefully things, like the hack with the meat company and the hack of the gas pipeline, that kind of had an inflationary effect short-term so i'm going to absolutely keep to the language that it's transitory. >> they are going to stay put for now which could be good or a bad thing i don't know. courtney i was looking at a report from the oecd about the global economy, and global inflation has been rising, in

particular we saw a 2.4% jump in global inflation just for the month of april, so it's not just the u.s.-based story. the reason that matters is because of all of the supply chains that are now reopening, and prices around the world. we still import a lot of things into this country, and as you can see on the screen right here we've got shortages across the country whether it's bacon or coffee or i found out a couple of days ago bicycles, believe it or not, are in short supply. >> yeah, and i really think that the trend very well may continue because you'll see all of these inputs coming in with commodities prices we're just noticing it in our day-to-day things like the grocery store but also we're just looking at the employment report which just came out and it is showing that we have a really tight labor force right now, which is going to lead to wage inflation and that is where that is so i'm actually very much think we'll continue to see the trend happening and it's just really important that you make sure that you have things in your portfolio if that does in fact continue, and i do agree i don't think the fed is necessarily going to change their stance

right now and i think what's more important is you actually want to watch what the bond market is doing because they are going to start pricing inflation long before the fed does anything so just make sure you're prepared before inflation happens, not after, but i do think that that global trend that you're mentioning is happening, that's kind of the leading indicate or we're going to see come down to prices >> the sensitivity we've seen in technology stocks is really reflected the worries we're talking about. there is the 10 year right now, again down seven basis points but 1.55% is not the worst to be honest with you so summer is underway, you've got summer sticker shock in full effect right now this weekend we might see it get even worse as this will be the first weekend that we're going to see possibly the full effect of the jbs cyberattack, at grocery stores, with meat, with chicken, with pork. yesterday we spoke with a california-based deli owner and he had to shut the deli down because of high prices. listen. >> for us this is not a labor- related issue. this is a supply chain issue. i've learned about how it's

centralized the supply chain is. we have a big huge gear now, as opposed to a lot of little gears when there was a slaughterhouse in every region. it's a big gear, so i just want folks to remember that this is not the end of the world but it just takes longer for that big old gear to get grinding. and i have full confidence we'll be out there. >> shana, how long do you think the speak in meat prices will last because we should remind our viewers that meat prices were already rising going into this jbs cyberattack which hit this week. >> yeah, the supply chain of meat, of many things has been disrupted, in this case, by a cyberattack but the pandemic has been very disruptive to the global supply chain as you noted earlier, and it is going to take a while, because inventories for pretty much everything have been kept very lien because there was no demand and it was hard to understand what kind of demand you need to supply for , and i think companies would rather raise the prices and make a little bit more profit for the time being, rather than to ramp up inventory for what

could very well be short-term demand spikes, so i just think that it's going to take a while for supply chain and demand to kind of reach some sort of equilibrium and in the meantime, i think we'll see inflation across-the-board, not just because of a cyberattack, but you know, we've seen it in milk prices, we've seen it in a lot of variety of different ways, and you pointed out, there's many many reasons for that, but ultimately, i think it's going to be at least until the end of the year, if not longer. >> courtney? >> yeah, i think it's going to take a while for some of these supply chain issues and it really is kind of the snowball effect, where it effects one industry, those prices increase and it effects another, so you know, as it fixes itself you are going to see that down the line and other independence so this will take a little while to weed itself out. i'd agree we're looking until at least the end of the year but definitely want to keep an eye on here as we keep getting reports showing how the inflation is in fact impacting the economy. >> well, thank you so both of

you. stay right there we'll be bringing you back in just a little bit, but first, you've got the biggest cryptocurrency event, ever, kicking off in miami today. we're going to speak with some of the major players, that is coming up.

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get it and get it now. your body will thank you. (announcer) find out more at aerotrainer.com. that's aerotrainer.com. >> with with inside the organization but it was us ultimately who put out documents on january 15 that demonstrated some of the central fact the we now know that lead to the overwhelming amount of efforts to demonstrate to this probably did come from this virology lab. it was good work by the state department team, we overcame lots of internal bureaucracy to get there and lots of internal debate from nih, folks trying to suppress what we do in the state department as well. >> that was former secretary of state mike pompeo saying that the national institutes of health tried to stonewall the investigation into the origins of covid. let's get to hudson institute senior fellow and former intelligence officer, michael pr egent.

michael so i'm glad you're here. we know that china is not going to cooperate at this point, with this investigation. >> right. >> i think the next question is how do we prevent this from ever happening again? >> well, i think we need to actually find out what happened, this needs to be a u.s.-directed investigation in order to prevent it from not happening again. there needs to be repercussion against the ccp for what looks to at least be a cover-up. we need to find out what happened in order to prevent things like this from happening again. >> so is that in the form of sanctions? is that in the form of meetings, discussions, we know that president biden is willing to have discussions with the president of china. we don't know how far that's gone though. >> right. denial by head of state is never , it's always good enough for politician but never good enough for the intelligence community. you'll always have a head of state saying that we have nothing to do with it and then our head of state will mirror that message, but it's not going

to be good for our intelligence community, not good enough for our intelligence community but the international community should care about this. china depends on having good economic relationships with the world. this is an opportunity for the international community to hold china accountable and have there be serious economic ramifications. the u.s. shouldn't be alone here , and we should definitely be backing up countries like australia that have been very forward-leaning on this whole investigation into the wuhan lab >> is it possible, do you think , in your estimation and i'm asking to guess here basically, that the intelligence community behind this scenes is working to find out what happened and the origins of the virus and the lab and that we just, that information is just being very well-hidden right now. >> well, there was a concerted effort to find out in the trump adminitration, there are currently analysts looking at it david asher whose also now with the hudson institute led the state department's investigation into this , so it can be across state department,

dod and the ioc to find out what happens. we should also use our business community to put pressure on the ccp to find out what happens, what happened there and there should be ramifications. right now, this isn't good enough. a w. h. o. investigation isn't good enough and having the head of state from china say it didn't happen isn't good enough. >> interesting that you're looking at the business community to take a stand. they are happy to take a stand on racial injustice, but maybe they will take a stand on this , i don't know. the other thing the president is dealing with right now is he's looking into retaliation against those russian hackers. the doj is elevating cyberattacks to the level of terrorism so michael, do you think that maybe he should just cancel his meeting with vladimir putin, because i can't imagine that vladimir putin is going to be honest with president biden when they meet in geneva. >> it's another head of state, vladimir putin will deny it, and that shouldn't be good enough.

biden's being tested by our adversaries. the biden white house is being tested by china, being tested by russia, being tested by iran, and everybody is looking at what's happening in vienna, and the white house looks pretty weak on what its foreign policy is going to be with russia, china, and iran. specifically, we have russia and china actually acting as intermediaries in discussions with the iranians on the nuclear deal, so on all fronts, russia and china are testing this administration and the biden administration should hold russia and china accountable but it's not going to be good enough for the american people and it shouldn't be good enough for the international community to have xi-jinping and vladimir putin basically say no, we didn't do it. >> well, we shall see. that summit is set for , well that meeting is set for june 16. michael, thank you very much. >> they should definitely cancel it. thank you for having me. >> i know.

i actually agree with you, couldn't agree with you more, sir, thank you. well, still ahead, i'm going to take you back a few years now. do you remember the concord? the original supersonic airliner well, united wants to bring these super-fast flights back, but is the demand there? we are going to explore that topic, coming up, next. >> ♪ ♪ (vo) while you may not be running an architectural firm, tending hives of honeybees, and mentoring a teenager — your life is just as unique. your raymond james financial advisor gets to know you,

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-well, audrey's expecting... -twins! grandparents! we want to put money aside for them, so...change in plans. alright, let's see what we can adjust. ♪♪ we'd be closer to the twins. change in plans. okay. mom, are you painting again? you could sell these. lemme guess, change in plans? at fidelity, a change in plans is always part of the plan. >> welcome back to "coast to coast" the biggest cryptocurrency event ever kicking off today. jack dorsey and floyd mayweather among the 50,000 descending on miami and that's where susan li is with all of the very latest.

big business, susan. reporter: yeah, yeah, and we're kicking it into high gear here as you can see there are thousands of people right now packed into miami to talk about bitcoin and cryptocurrency and that includes our next guest. you might recognize him, adrian granier, with impact investing especially using cryptocurrency, so people want to ask you, how did you get into crypto and why did you get into it? >> well crypto is the future, you know, and i really want to put a lot ofy energy and my life behind creating new systems for a better world, for people and the planet. reporter: so how did you get into it because i would tell you that a lot of our audience would say i don't understand cryptocurrency, i don't understand bitcoin. how did you get to understand it >> i don't entirely understand it either. i think you'd be lying if you said you did. really, the way i look at it is not just an investment to make money. this is really an alternative store of value.

this is a way we exchange value more accurately with one another and there's more transparency. i think we need more access to the world's riches. we need more equity and i think alternative currencies such as bitcoin will help get us there, because right now, we have a lot of gate keepers, a lot of centralized systems that have incentives that aren't aligned with all of the people of the world. reporter: right, so you think that cryptocurrency democratizes the financial system? >> you understand it. don't you? reporter: [laughter] i'm trying to understand it but i think that's kind of what people talk about when they talk about coins and dogecoin and bitcoin. >> absolutely, it is a currency for the people. it's a localized, it's also decentralized, so you get to decide how it actually flows. we need more flow of that currency, so that we can actually build the world that we want to see. reporter: so i know you're very passionate about the environment , sustainability, but some would say why would you get into crypto when bitcoin

mining takes up so much electricity and energy consumption? >> oh, yeah it's no doubt that bitcoin needs to get better and you know, all these new currenc ies need to get better environmentally but we're living in balance. everything is a trade-off and i'd say the value that alternative currencies provide for society, at this moment, out weighs the environmental cost but we do need to get better but just keep in mind that our current economic system also has a big environmental impact that we're not looking at, we're not measuring, so a lot of times people who are resistant to the change or are incentivized to their making money off the old paradigm, want to poo-poo it in some way and trying to sway people from getting involved, but eventually, it will level out, and i think it will get better environmentally. reporter: adrian great to see you, adrian grenier, guys we're just getting started here i'll send it back to you. >> susan li very exciting down

there, 50,000 people i believe are attending that conference. you're going to have a long day, thank you, susan. all right, well, take a look at this video. the marty gras cruise ship docking in port canaveral, florida, fox news correspondent jonathan serrie has the latest on the battle between the cruise industry, the cdc and i think a certain governor. jonathan? reporter: that's right the cruise industry is hopeful that they will be able to resume sailing from florida, sometime in late july, but it all hinges on several things, but certainly, a beautiful sight that newest cruise ship from carnival cruise lines docking in port canaveral, florida this morning. it's the first cruise ship to be powered by liquefied natural gas and to feature an on board roll rollercoaster but florida governor ron desantis needs to

resolve this legal dispute with the cdc over its requirement that 95% of cruise ship passengers and crew be vaccinated before sailing. desantis recently signed legislation making it illegal for businesses to require proof of vaccination. >> we really do hope that the cdc and the state of florida can come to an agreement on the vaccination situation and really get florida back to cruising and get cruises throughout the state back in order. reporter: the daily average of new cases in the u.s. is now just over 16,000, that's a 10% decrease from last week and the lowest number in more than a year. now, the u.s. is looking outward , planning to share up to 80 million unused doses of american vaccines with countries in need, but it's already causing some controversy. mexico and several other central american nations have announced they will use most of the donated shots in border areas and resorts. these countries argue that doing that is going to be crucial to

bringing back jobs, and restor ing their economies. back to you. >> very good point, jonathan se rrie, thank you very much. >> certainly. >> meanwhile new york-to-london in three hours? what do you think, united airlines is planning to buy 15 supersonic planes that could be in the air by the end of the decade. here is the ceo of boom supersonic, talking about the big deal, listen. >> supersonic is back, it's back in a big way, and it's here to stay, what we can get excited about here is high speed travel that's available to tens of millions of people. from newark, new york to london is going to be three and a half hours, and what that means is instead of that being a painful overnight flight, you can leave in the morning, make a late afternoon meeting in london, go out to dinner, and then be home to tuck your kids into bed that same day. >> just not until 2029. shana sissel and courtney dominguez is back so this honestly reminded me first thing i thought about was the concordant i think all of us

remember the concord, but when it finally shutdown in 2003 if you go back and look at the prices it was like 8,000 dollars , i remember, even in the 90s, to take a round trip on the concord. do you think that this is going to be just as expensive and do you think there's actually a market out there for returns to fast travel? >> well, so, i think yes and no three and a half hours to london versus five out of new york, i don't know if that's enough for me to want to pay a premium price, quite frankly, and i don't really know anyone that's going to do like a day trip to london. you can get there in three and a half hours and three and a half hours back, do a one hour meeting with all of the february noology we have today have we learned nothing from the pandemic is that really necessary to spend that? and put yourself through that? we have to come down significantly in price for people to really want to do it. i'd be way more interested in supersonic travel to go to asia. i don't know if that's going to happen because noise pollution

is a huge issue with these supersonic planes and it's one of the reasons why they have always been just sort of over the atlantic because the sonic boom aspect of it is really disruptive so, you know, asia be more interesting, that i might pay up for and not having to take a 24 hour flight. but i don't know if i would pay a premium to go to london. >> well courtney, he did say it be like six hours from new york to tokyo, just to add, but i was looking again i'm going back to the pricing because i'm focused on how expensive it's going to be and at today's pricing it be $12, 900 for that, for a round trip from new york to london on the concord. so with these really really high prices, and you know, shana makes a great point, i'm saving two hours, big deal. >> which i think is a leisure travel, i completely agree with that. i'm not going to on my own dime on vacation pay that personally but i think it's interesting to look at with these airlines is

they are trying to capitalize on the business traveler because business traveler is about less than a third of the seats but more than half of revenue of most airlines and so if you can make it more as time efficient for your business traveler, because you tend to see that your corporations are a little less cost-sensitive than your leisure travel is, the question is can they capture that so i think it is like there's potential there but i agree. at those prices, it's going to be only like the major top corporations looking at that for very few employees, so i think we have to see the price come down somewhat on that. >> and to your point about business travelers, i'm surprised by so many people i talk to that are ready to come back to the office, and a lot of those business travelers say they are ready to get back in the air, that they hate zoom, zoom doesn't work, you've got to be face to face. i don't know, it's going to be interesting to see how this plays out, ladies thank you we'll see you in just a little bit. all right well, coming up 50 days out. covid cases continuing to climb

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>> organizers of the tokyo olympics insisting the games are a go, despite the growing number of covid cases in japan. fox news correspondent jeff paul joins us now with all of the details. jeff? reporter: yeah, cheryl, less than 50 days away from the summer olympics and organizers in japan say the games are "100% going forward" to mark getting closer japan showed off the podiums, costumes and music that will be used during medal ceremonies. this , despite the coronavirus situation in japan, casting a

somewhat dark cloud over the pandemic postponed games. only about two to 3% of japan's general population has been fully vaccinated and just this week, the capitol city of tokyo is seeing around 500 new covid cases per-day. that's roughly double the number of what new york city is experiencing, on top of that, support among japanese citizens for the olympics is lagging around 10,000 of the 80,000 un played volunteers have now quit. >> the medical system is strained due to the coronavirus, so if they were to hold the olympics, and the infection spread, who would take responsibility? medical personnel will be put in a further difficult situation and i think this is an issue, but the biggest reason is because it's belittling human lives. >> now there won't be any overseas fans in attendance during this olympics but there could be some from japan who are allowed to attend. organizers say if there's some sort of outbreak, that rises to the level of an emergency, they

are prepared to host the games without any spectators, cheryl? >> jeff paul, thank you for that report, refresh it. sports agent and dle agency founder doug elridge represents a number of olympians. doug, my question here, are sponsors worried about what's happening with the olympics and more importantly, are athletes worried? >> the answer is yes, but how do you best express it? i think a lot of it you guys hit on the lead-in here, cheryl. the problem is three-fold. it's medicine, messaging and money, from a medicine standpoint 1-3% of the japanese population have been vaccinated. the ioc expected 80% of athlete s to be vaccinated but they have not done anything to substantiate that, it's not mandatory for participants and this is a pr rsv nightmare, not the least of which, the japanese people. 80% are not only in favor, but against it. active voice. 10,000 volunteers have already

dropped out, and to put a number to that, 20 year ago after the city olympics they audited the games and said 40,000 volunteers represented $60 million in valued services. two decades later ku probably two or 3x that and then of course the money, let's talk the zeros and commas. these games are estimated to cost $15 billion and the japanese audit conservative ly estimates it'll be at least double that, there's no foreign visitor, the japanese nationals can watch it, sponsors had to bite the bullet for a year and athletes were asked six months ago to return sponsorship money and there's answers in sight but for the ioc and lifo/fifo model the last into cash out, they contribute roughly 10% to the total cost the only true winners thus far is the ioc. >> wow, well certainly, there's a lot of money on the line, and there was a lot of money lost during the super bowl for instance, i have a feeling that companies are going to be very careful when it comes to japan and probably going to scale back

thank you very much for being here, we appreciate it. >> thanks cheryl. >> well, as the u.s. deals with a rise in violent crime, congresswoman alexandria o ocasio-cortez is proposing a controversial solution, we'll tell you what it is after the break. >> ♪ ♪

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>> millions of americans expressing their second amendment right, 17 million people bought guns in 2020, and as crime rates go up, those sales keep going up. hillary vaughn has got all of the details, hillary? reporter: well, these numbers would scare anybody who is worried about their safety and gun groups say that that fear is triggering a spike in gun sales across the nation. just in the last year, shootings in new york city up 77%. in portland shootings were up 120%, compared to the year before, and i'm here with shawn pullen, the owner of nova

armory, and shawn you told me that not only are you seeing demand rise for guns and firearms, but you're also seeing demand rise for ammo as well. >> correct, ammunition just like toilet paper for covid, for our industry. people come in here and actually buy guns based on ammunition availability, so that's very new ammunition, i think people are buying up to actually train, but also to store, and have a large stockpile at home. reporter: you mentioned that when people coming into buy a firearm, they are actually, many times, telling you well what firearm do you have and what amm o do you have to go with it and what does that signal to you about the type of people coming in? >> so that is a very odd signal for us, because that tells us someone is a little worried, kind of apprehensive of their environment at home, so they are coming here bying a firearm strictly for home defense and a lot of the new firearm purchaser s are new, new purchasers. >> that's interesting, well

that is not the only, this is not the only gun shop that's seeing that across the country. according to the trace, a new site that tracks gun purchases, in 2020 they were up 64% and the highest month was in june when there was rioting, looting, and protests sparking around the country. mark oliba, a spokesperson for the national shooting sports foundation says they surveyed gun shots and retailers told him that customers are coming into arm themselves. >> they said this largely that people were concerned about their personal safety, the ability of police to be able to respond to a 911 call, and that time in between where they are have to be their own first responder so we're certainly sen control policies this administration is embracing . reporter: and oliba told us that it is not hunting rifles that are flying off the shelves but handguns like this that people

use for personal protection. he tells us that 8.4 million gun owners were new last year, buying a gun for the very first time because, for the first time , they felt like they actually needed one to protect themselves. back to you. >> it's very unfortunate but true, hillary vaughn, thank you very much. meanwhile, congresswoman alexandria ocasio-cortez says the answer to violent crime is to stop building more jails. >> it is not acceptable for us to use jails as garbage disposal s or garbage bins for human beings. we need to treat people -- >> [applause] >> and see them as humans. if we want to reduce violent crime, if we want to reduce the number of people in our jail s, the answer is to stop building more of them. it's to support communities not throw them away. >> former nypd lieutenant darren porcher, crime is a big

topic, new yorkers, the mayoral race is heating up we're 18 days from the democratic primary, we're probably going to know the next mayor on that day. are they focused on the right issues and i asked because eric adams during the debate two nights ago said, "public safety is a prerequisite to prosperity, and he is leading the polls. he's a moderate what do you make of that? >> well, i don't see eric adams as a moderate, to say the least. i see him as one that pulls to the sentiment of the mob. the loud minority speaks to this defunding of police, receiving police protections, and i believe that that's the direction that eric adams is moving towards and then when we speak to what the recent statement from alexandria ocasio-cortez, the one thing i give her credit for is she's consistently wrong from the perspective of public safety , and no way, shape, or form, does she have the understanding or the ideology to root for the necessary components of public safety.

per ideology is dangerous and it's not for us as new yorkers. in addition to that, when we look at the cast of characters that are running for mayor for the city of new york they are basically echoing the same sentiment. i believe that we're in trouble moving forth towards june 22. >> yeah, but adams and also andrew yang, who at one point was running for president, katherine garcia, those three that are leading none of them are those far left progressives and i think it's because those of us that live here in new york city, those that have witnessed what's happened in san francisco, in los angeles, in portland, and seattle is that the defund the police movement is ridiculous. it is a joke, and if you want to defund the police, you are going to have what you are now witnessing in the streets of major cities. i think that's why the three candidates are not saying defund the police, no? >> well, there's a common denominator from the perspective of the defund police movement, and when you saw it in the past election, a lot of democrats

lost these down ballot seats based on their support for the defunding of police. i don't believe any of these individuals that are running within the democratic party are moderate. i think they are extreme to the left. they are extreme liberals. what we need is a conservative base to move forth the agenda of public safety for us as the 8.5 million citizens that reside in the city of new york. the social contract has been fractured as a result of democratically-controlled cities such as new york, portland, chicago, and los angeles, something needs to happen and it needs to happen now. >> well but, you know, there are two republicans running here in the city, but frankly, it doesn't look like they have much of a shot based on the polling that i'm seeing, so we need another mayor guiliani, frankly, in new york but i don't think we're going to get one, darren. what do you think we're going to get? >> unfortunately, i think that we're heading for hell in a hand basket at a record pace. i don't think we need another

rudy guiliani. i think we need another conservative leader that can move forth the agenda of the conservative aspect of providing public safety and that's not what's coming into play. i truly wholeheartedly support rudy guiliani's efforts back in the 90s but as we progress to a new day and age i think we need a more stringent fraction of protecting the citizens of the city of new york and the current cast of characters that are running for mayor fail to represent what's necessary to move the city in the right direction. >> every time i see anyone from the nypd, i thank them. i thank them, because they are still out there and still fighting a good fight and trying to keep guns out of the city and crime out of the city, and it's a tough battle. all right, darren thank you very much. darren porcher. well, let's move on to this. president biden is offering republicans an olive branch to finance new infrastructure spending. coming up we've got texas

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>> welcome back to cavuto "coast to coast" i'm cheryl casone, i'm in for neil cavuto, a busy second hour ahead as the markets look to close out the week in the green. some of the top headlines we are

watching for you right now. first, in the big apple where now research is suggesting that restaurants are struggling more than ever. we're going to bring you team coverage of just what restaurant s are facing as they reopen those doors. >> then, our higher home prices putting a chill on the housing market? why some real estate experts are pushing back on concerns of a housing slowdown. >> and coming up, why north face is the new face of a major ad campaign from the oil & gas industry in texas. we've got the details coming up later on this hour. but first to the battle over getting an infrastructure deal done, house democrats unveiling a new $547 billion bill amid ongoing talks with president biden. fox business edward lawrence is in washington with the latest on the negotiations. edward? reporter: cheryl, yeah, and it's , you know, the fine print. if you read that plan from the house democrats it's over five years. the white house plan is over 10 years, so you do the math and this house plan would come in

about $1.1 trillion over 10 years, more in line with the president and more in line with what republicans want to spend, so later this afternoon president biden will meet with west virginia senator shelley moore capito about her offer. republicans offering a $928 billion infrastructure plan that has 250 billion in new spending. most of it paid for by unused covid funds. president joe biden is coming about 1.4 trillion, with 1 trillion in new spending. the white house insists on the new money coming through corporate tax hikes, but that could be backing off the overall tax hike from 21% to 28%. instead, requiring all companies to pay at least 15%, so that includes companies like amazon that reportedly paid no corporate tax in 2017 and 2018, so with the divide between the white house and the senate republicans still about $470 billion as well as the other stuff that is not traditional infrastructure, the administration insists on,

senator mike braun says this is all just lip service. >> my prediction is since that's not where they want to go , it'll be very similar to the song and dance we saw on the covid relief bill, where less than 10% of it was particularly aimed at covid relief. you can argue that currently, less than 10% of that is for roads and bridges and hard infrastructure. reporter: he expects the white house to eventually move to take the massive spending at the original level and more than $2 trillion and push it through reconciliation. on the other side of that you have progressive democrats that are starting to get impair impatient that this is taking too long so we'll see if the pattern follows. so far president joe biden meeting with republicans and ignoring what they have to say. back to you. >> yeah, i've seen some reports that it could be as little as 10 days before democrats decide just to go for reconciliation and leave the republicans behind we shall see. edward thank you very much for that live report from washington. i want to bring in texas

republican congressman brian bab in for reaction to all of this , congressman and you know, there's buy support for infrastructure, there australia has been but you've got 1.4 trillion that's a massive number as edward just reported basically, the republicans and democrats, the white house are $750 billion apart. can that divide the overcome? >> i'm not real optimistic that that divide can be overcome, cheryl. great to be with you. i think we are, just like senator braun said, this is a lot of lip service. we saw a lot of this in the past i mean, biden's only been in there for going on six months, a little less, and he constantly talks about unity and yet they have shown bill after bill, down our throats and to the tune of trillions of dollars. i serve on transportation and infrastructure in the house of representatives, in fact i'm the senior republican on that

committee, and i can tell you, i know what infrastructure is. a lot of this stuff that the democrats are pushing don't even come close to being under the definition of infrastructure certainly, we've seen shelley capito and other senate republicans that want to deal. well i want a deal. i would love to see that. i voted for an infrastructure package back in 2015 en my first year of congress. it was a $300 billion deal. it was a good restructuring package. when we start talking about trillions and trillions of dollars after we've already spent trillions of dollars on covid and this terrible year we've just had economically, and people still out of work, that's serious business, and we can't be toying around with the american people's purse. that's what we're doing. >> yeah, well especially with the federal deficit exploding like it has been and i know that's something that's been on your radar, but you know, on wednesday the president did put out an olive branch talking about the 2017 tax cuts maybe

you'll leave those alone but then what you do is you, the corporate tax rate be at 21% but then you add-on almost like an alternative minimum tax for companies, it be 15%. you've also got janet yellen talking about this global minimum tax. basically, you're robbing peter to pay paul i think is my point, but the republicans would still to go back up to a trillion. is that even an option? >> i don't think so. i mean, i would have a hard time swallowing that and voting for a package of $1 trillion, i really would. we certainly need the infrastructure update, believe you me. i live in the epicenter of the energy sector of our country , and more refining facilities, pipelines, chemical plants and what have you, but the all-out assault by the biden administration on our energy sector, especially fossil fuels with this green new deal, you

know, proposals, i think scare a lot of people. they are putting a lot of folks out of work. the keystone pipeline notably, is one of those. i just don't think that i could vote for a package of that magnitude. you know, $1 trillion, a trillion seconds is 32000 years that's how big a number a trillion is, and we're approaching a $30 trillion national debt right now, and they throw around a trillion bucks like, you know, it was nothing and just i think we need to start thinking about our grandkids and our children and what they're going to have to payback for a lot of this nonsense that isn't by any stretch of the imagination, infrastructure. >> well, to your point, i think you're right. leaving that bill to pay to our children and our grandchildren is certainly something that a lot of fiscally responsible americans are worried about. i want to switch gears to the border now with you, because

you've been calling human toll of the southern border crisis catastrophic. i want to get your reaction to this video of this young boy calling his mother from the border, this exclusive to fox but i want you to watch it. >> [telephone ringing] >> hello? >> [speaking in spanish] >> that little boy traveled alone from guatemala and then he finally was able to call his mother years later and we're see of video we had earlier this week of a young boy that the smugglers just left him at the border, and he was crying, you know, "don't go, don't leave me here." it's heartbreaking. >> cheryl, if donald trump were still in office, there be howls to the moon over stuff like this , and yet we just hear nothing but crickets from most of the media.

the democrats who shed tears on the floor of the house about kids in cages and lamenting about how cruel trump's policies were. they pale insignificantly to what's going on now. i've been down there a number of time, in fact as late as last week, and plan on going plenty more. our vice president seems to want to distance herself. she's been named to be the czar of the border security by her boss, the president, and she wants to distance herself from this terrible problem of their own creation, but she can run, they just can't hide. the awful, awful child abuse, those parents should be prosecuted for turning their children loose on a treck of that magnitude and be subjected to sexual predators and child labor problems. it's unbelievable, and i can tell you this too, cheryl.

the arrests of criminal aliens coming across the border are up almost a thousand percent in this fiscal year since biden has taken office. we got an open border, an absolute open border and i can tell you that people are very very concerned with it. the stakeholders, the people that live in these border towns, they are just swamped and these people are coming in covid positive, criminal aliens, overwhelming numbers. we've never seen anything like this , and the de facto controllers of our border now are not the federal government. they are the cartels. that's whose in charge of our border today. they've been empowered and they are making profits in the billions of dollars. >> you mentioned the drug issue , obviously, fentanyl is a big problem right now, and i know there's been a lot of seizures. before i let you go real quick, president george w. bush, this is years ago, but he actually wanted to see some sort of legal path to citizenship,

but we needed those workers, those migrant workers. that would kind of stem the crisis possibly. is there anyway that that's even on the table in this day and age >> all i can tell you is that every time we have an amnesty, every time someone lays out that type of offer, it just stimulate s more immigrations illegally, and we already allow a million immigrants a year to come in legally and it takes a while to do that. i'm proud of these people. my own daughter-in-law is from brazil. she's a legal immigrant and now, a proud american citizen, but it has to be done legally. you can not let millions of people into this country illegally, and i disagree with president bush or anybody else. democrat or republican, that want to increase the numbers of people who come in illegally and then give them a path to citizenship. this is what the democrats are

doing. this is, these are registered voters in their mind, so this is exactly what they are trying to do. they put them on welfare. they don't care what happens, obviously, or who comes across, because they aren't being vetted they are so overwhelmed they don't even have notices to appear in immigration courts. that's an illlegality. the biden administration has reversed all of these programs and policies that the trump adminitration put in that actually worked, and they just did away with the remain in mexico, the mpp policy several days ago. this is going to open us up to even more turmoil, chaos, crime, and possible terrorism and break the bank again. >> these are heartbreaking, congressman, congressman babin, thank you very much, sir good to see you again. >> you too. >> well, we are going to switch gears now. back to new york, new york restaurants looking to get back to normal, why some say the road to the recovery is being blocked

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>> as america looks to get back to normal many new york restaurants say they are facing recovery roadblocks. we've got team coverage of just what they are facing, gerri willis is in dobbs ferry, new york with how one restaurant owner is looking to get more workers in the door and charlie gasparino is in a restaurant here in midtown manhattan on how restaurants are dealing with those higher food prices, gerri, we are going to start with you. gerri: hey, cheryl that's right. so yeah, this economy producing 559,000 jobs we saw in the may jobs report this morning, market getting tighter and tighter and no category doing worse from that point of view than restaurants and bars and we are here at rare bit. the owner scot broccoli welcom ing us in. scot? >> good to see you too thanks for being here, appreciate it. gerri: well thank you. we talked a lot about this how tight the jobs market is and you told me that you're working 70 hours a week and you've got six openings that you can't fill. just how tough is this jobs

market? >> it's pretty impossible, and everybody that i've spoken to in the restaurant industry as well as others are really talking about the same thing, they just can't find anybody. we're putting ads out there, on social media, please come in and apply, apply, apply. we're not getting anything. its gotten to the point where i'm bringing in family members and my niece and nephew are here working. my mom and dad are in their 80s otherwise i'd have them here, and my kids are under the age of 10 or they be here but it's a shame we're not getting help from people out there and eligible. gerri: we saw in the jobs report this morning some 180,000 jobs created in your category, restaurants, food establishments , right? what's up with this number why is it so hard to get people in? >> because they are making 850 a week to stay-at-home. we're fighting with our government. most entry level positions and most across the country don't start at 850 a week so what is their incentive to come back to work? i really don't understand what it is. gerri: well i think you know, we're right here at the end of

the food rush, and cheryl, we had planned to have a little surprise for you, some food, but i don't think we got it. anyway, i want to say here, rare bit wanted to add six people to their roster couldn't do it. cheryl back to you. >> no we're seeing that all over the place, gerri it's so true, thank you, gerri willis. all right, well now let's bring in fox business charlie gasparino, whose shocker is at san pietro in new york city, where they are seeing prices go up, charlie? charlie: the other shocker is that you're not having lunch here because this is a high- class place that you usually show up to, not necessarily me but anyway, i am here with the owner, gerardo br uno, just want to say i know your brothers, love you all. they own some of the best restaurants in the city, we're here in san pietro, and just so you know, they came here with nothing. they were bus boys, whatever.

waiters, and they created an empire here that wall street elite eats at, but they are in trouble. gerard, you had a bad year, right? obviously, everywhere. right. charlie: you survived and now you have a different problem. finding workers and inflation. tell me how that's impacted you. >> well its impacting in a way that we can not receive all the customers that want to come and dine with us. charlie: because you don't have the staff. >> we don't have staff. we have a staff of 40 people. today, we have 12 people, including me and my brother. charlie: and your brother is the chef. >> and my brother is the chef. thank god. the big problem is that we cannot start any new menu program because we don't have enough people to follow it and to make it. charlie: so i want to drill down on this a little bit this issue of finding people what it means. it means inflation.

you have very thin margins, you make a profit on a good year it's 10%. >> right, right. when you're lucky. charlie: okay so now on top of that, that very thin margin you are facing inflation on wages. >> of course, yes. charlie: and inflation on food prices, because of all the government stimulus, even as we're coming out of the pandemic, commodities prices are starting to spike and that impacts you importing stuff and buying stuff. i mean, how is that hurting your bottom line? >> well it's hurting us not just us, but all of the industry has been hurting a lot because the price of food and ingredients, especially important ones, they went through the roof between 30 and 40%. charlie: and let's be real clear here. it's one thing to be competing against the restaurant across the street for workers. then you need to pay higher workers and the economy is growing. it's another thing to be competing against the government can you compete against the federal government handing out all of these checks? >> no, i don't think it's

possible, because the government is not only giving money to stay home, but also, now i hear that the biden administration is giving them also paid rent, they are going to pay their rent, pay their unpaid living expenses, including telephone. and i heard the president a week ago saying on tv that people, if they want to stay home, they should stay home, and they feel secure and if they want to have like a part-time job, that is also good too for him, but how can it be possible that we can start a new menu or -- charlie: expand the business. >> expand the business with people only on part-time. how are we going to progress that? charlie: well they are giving me , i just want to say one thing if you came here from italy and

got those benefits would you have gone straight to work, being a bus boy, being a waiter? >> well, charlie, you know, me and my brothers came into this country after, you know, we were poor. charlie: poor in italy. >> no, we were really poor we come from southern italy, from s alerno, but we were poor. but one thing that was good for us, our parents sent us to a culinary institute. charlie: and they taught you how to go to work. you'd rather go to work than take the money. >> all the time, yes. i can tell you me and my brother s have never been unemployed a single day since 1976. charlie: now that's an american success story. cheryl you're buying next time when we come here. >> i've offered before, remember? charlie: [laughter] >> but by the way, tell him i love his pumpkin risotto.

charlie: cheryl said she loves your pumpkin risotto. >> cheryl knows. >> [laughter] >> i'm italian too, what can i say? charlie: despite that southern accent you're italian. >> we were farmers. poor farmers, it's true. charlie gasparino, thank you very much. i really do love that restaurant , just saying. all right it is not just restaurant jobs though that are hurting out there. the latest jobs report did show us that construction at retail jobs are down as well. i want to get the read from our market watchers we've got gary kaltbaum and mitch roschelle. he's smiling because he likes san pietro as much as i do, another story another day, but mitch, i was surprised about the construction in particular because i don't know if it's because of a slow down in the housing market because of lumber prices or if there's something else going on with those particular jobs but that was a 20,000 job decrease we saw for construction, mitch. what did you make of it? >> cheryl, it was a shocker, because and you know i'm close

to that industry. everybody i talked to says the same thing and it's no different than the restaurant independent, and it's not too much from the retail industry. they literally can't find workers. there's this misconception that the problem is skills gap in construction, but there are plenty of jobs that are just hard labor, and aren't necessarily like plumbers and electricians, that have a specific trade skill. they just can't find them. you may even hear my landscaper in the background mow ing the lawn. i was talking to him to see if he can keep it quiet right now and he can't find workers so a lot of those types of jobs it's just the same thing the supply and demand of labor. >> what's so interesting, gary, in all of this especially with this report this morning, is that we have a high supply of? vaccines. we have a high supply of? jobs available and we did not get a big increase this morning not the one we expected. >> 8 million available, 400,000 construction and you had a guest on earlier i couldn't believe the numbers for every one candidate there's 22 waitress

jobs out there to be had, for nursing 53. these are gargantuan numbers and i drove back from miami up the turnpike in florida last weekend and they have these service plazas and they were packed but a few of the restaurants there were closed and i asked the people running the joint there, asking why they can't get workers. so you got to wait online for your dunkin' donuts coffee and donuts, they have this italian place where 100 people were online, and three or four places were closed. this simply needs to get fixed and when i hear this administration say we don't have any data stating that us sending out these checks is almost laughable to hear that, because in plain sight, it's happening everywhere and just about every industry and really needs to change sooner rather than later. >> well guys i want your reaction to breaking news we just got in. facebook just announcing a two-

year suspension for president trump and i'm just getting in a statement from the 45th president and here is what the former president is saying. their ruling is an insult to the record setting 75 million people plus many others who voted for us in the 2020 rigged election, they shouldn't be allowed to get away with this censoring and silencing we will win our country can't take this , but i do, if it's saying two years that he is going to be banned. mitch, to you first. >> i think it's overkill, and it's a little early there. they're flexing their muscles and i think there's a bit of a, you can put the vitreal around the 45th president i think there are members of both sides of the aisle that feel like big tech has way too much power and right now, i think they are rubbing congress' nose in it. >> gary? >> overkill times 10 at facebook and some of these places. it's not free speech.

it's selective free speech, based on our own opinions, and that means they are not open source avenues of people to put things up or say things, and it's a shame, and i'm not taking a side on this as far as president trump or not. i would say it for anybody, except terrorists or things like that so they have some thought there i think it's completely wrong, but hey, they have the power right now and there's not much anybody can do about it. >> all right, well guys thank you for comments on that breaking news i appreciate it. we'll see you in just a little bit. well, a quick market check for you right now the nasdaq now on pace for its largest gain since may 24, big tech stocks actually rising sharply today, including facebook. we're going to be right back. >> ♪ ♪

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>> well the housing market is seeing a major boom in prices home prices hitting a new all-time high, for the fourth consecutive month in may, but could we see that acceleration start to cool in the coming months let's ask real estate expert beth fraedman. it's interesting because the 30 year we're sitting at about 3.1% right now, historically low, but yet, mortgage applications dropped last month. they dropped last week, according to the latest data, so what's going on in the market? >> well, i think that during the pandemic, a lot of the suburban markets benefited greatly, and so the demand is still there in the suburbs. it's just that there's no supply so that's why you're seeing a slow down in places like the hudson valley, connecticut, the hamptons, palm beach and new york city is the of o u.s. remember during the

pandemic, we were hit so hard and a lot of people fled, and now, because we had ample supply, people have come back, and now our market is totally fluid, people are coming here, things are open, and so we're seeing a difference in new york city versus the suburbs, and i think it's going to be like that for quite sometime. it's sort of a bit of a balancing act. >> and you're right act new york city because you're right, everybody fled and things are 20 % off during covid and now you're getting into bidding wars now in new york city that's true but let's talk about kind of again going back to kind of the national story, because you know, if you look at what's happened with lumber prices we've obviously got an issue there. that's the new home side of it. we're seeing new home sales slow down, pending home sales have slowed down, and so i'm wondering if someone is still looking to maybe make that move into more of a rural market, a suburban market. are there particular parts of the country that you could recommend? >> you know, it's a call

challenge because as you said first of all, it's just more expensive. land is more expensive. lumber is more expensive, labor is more expensive so those markets are tight. i think places like miami, there is still decent supply and good opportunity, but you know, i was in palm beach a few weeks ago, and it's really a dry market, because there is nothing to sell anyone, because where are you going to put people and so i think it's going to take a little bit of time until we see these markets fluid again, and then in the meantime, we have to just wait it out until it sort of flip-flops. >> do you think that americans, in general, are hitting an affordability wall, and i ask that because what we saw in the pandemic, to your point, was that fleeing from major u.s. cities, but where are they going? they are going to dallas, phoenix, las vegas, they were going to florida, so is the reverse going to happen now? are we going to see a decline in

those markets? >> i think we could. i know that a lot of people, there's a lot of first time home buyers that want to take advantage of historically low rates, but they are just getting priced out of certain markets and they can't afford to buy certain homes in certain places, so i think it's going to take a little bit of time to reconcile that, and it's hard to say. no one has a crystal ball, but we do know the consumer confidence is up, and people believe in buying a home. they want to buy a home. it's probably the biggest investment of everyone's lives and they have that commitment. there's that desire. it's good that it's not about demand. demand is there. it's an issue of supply, so once that sort of comes back to the middle and reconciles, there's more of an inter intersection with supply and demand we'll see the markets fluid in places like connecticut, hudson valley, et cetera. >> yeah, obviously we say real estate is depending on what part of the country you're talking about but i think the national

trends have really been telling the last couple of months. so we'll see what the summer brings, thank you very much, beth it's great to see you. >> thanks cheryl, you too. >> all right, let's go back to that mega bitcoin conference that's taking place in miami today. our own susan li is there. she's got all of the latest on what's happening and you know what, susan what i said to you last hour was i knew you'd have a long, busy day, because everybody whose anybody, in crypto, is at that conference. >> that's right. yeah, thousands right here in miami so the bitcoin mania is raging right here, and we just heard from jack dorsey on the stage at bitcoin 2021 and now we'll talk about the future of crypto with a very influential venture capitalist tim draper who vested in tesla when it was a very small company and among other big names like twitter as well, and people are mobbing you here, obviously. i know you were an early investor in tesla, but elon musk

is really hurting bitcoin prices , he's breaking out. >> before i get into that, i just want to say, i am so happy to be in the free country of miami. >> right? >> this is awesome. we are, this is amazing, of 60,000 people at here, wanting to learn about bitcoin and crypto and this new transformational economy that we're building. it's so exciting. so elon, my god, we backed him twice with tesla and spacex. he's one of my absolute heros. he's done so much for the world. i think he's been a little misguided on bitcoin but, you know, he's been so smart on some of these other things that i just think that the world of him so whatever he does, it's fine by me. i think that the bitcoiners are smarter than they're giving credit for. bitcoin takes a lot less energy

than the banking system does, and overtime it's going to decrease, and it's increasing the number of green energy sources, and people overtime though, you know, it used to be that you'd need five volts to throw a switch and then it was three. >> but do you wish he would stop tweeting at some point, tim >> well i think he will start getting ignored? >> do you think? >> well yeah, unless he sort of comes around and starts seeing light again. i think he saw the light and then he got all sorts of people saying wait, if you want to work with the epa, you've got to make a statement here. i'm not sure what happened, but anyway, it's misguided. but anyway, he's awesome. i love elon, what an amazing person. he's built some amazing thing, and he's willing to take chances >> okay. tim, great to see you. thank you so much. tim draper there.

we're talking about crypto. guys, back to you. >> this is going to be fun. when we come back i've got to talk about trust and freedom and if you take trust in a country, you build a great economy, you get freedom into a country, you build a great economy, and if you put trust and freedom together, you get bitcoin. >> we'll leave it at that. i was going to say ask him about regulation if he's worried about regulations because that's a big question mark. >> well, i think everyone has that question, right now. he just walked off after that monologue, but i think we'll talk about that later on. >> that's awesome, susan li great job done there looks like you're having a good time susan thank you very much. tim draper is just a hoot. more cavuto "coast to coast" coming up after a quick break. we'll be right back.

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>> welcome back to "coast to coast" i'm jacqui heinrich at the white house. two former u.s. officials tell fox news there was an effort among some state department officials to resist an inquiry into the coronavirus lab leak origin theory, because it would have increased scrutiny that the u.s. funded research at the lab. one man they accused of obstructing the probe former acting undersecretary forearms control and international security chris ford denied any effort to quash an inquiry into the lab origin. our state department correspondent rich edson just obtained e-mails between chris ford and other department officials showing intense miss trust between the department's covid-19 investigative teams and the arms control bureaucracy. ford claims the investigative team kept him out of the loop, made not exactly confidence- inspiring arguments about the lab leak theory, and delayed any substantive review from scientific experts. the investigative team claims ford and his bureau divides

excuses to bog down their inquiry in bureaucracy and it should have been up to ford's team to spearhead an investigation into the wuhan institute of virology. meantime, a trove of dr. anthony fauci's demales have prompted criticism from his detract or s that had he didn't take seriously the possibility that the virus originated in the lab. one e-mail from april of last year sent by nih director francis collins, to dr. fauci references a fox news report saying multiple sources believe the coronavirus originated in the wuhan lab before accidental ly escaping with the subject line "conspiracy gains momentum." collins said recently the conspiracy he was talking about was the idea the virus was manufactured as a weapon, not the idea that it came from a lab fauci's response to that e-mail is redacted but this is what he said yesterday. >> i don't remember what's in that redacted, but i mean, the idea, i think, is quite

farfetched that the chinese deliberately engineered something so that they could kill themselves as well as other people, i think that's a bit far out, john. reporter: fauci says he has an open mind about the lab leak theory and called on china to release medical records of the workers who fell ill at the lab to clear up that debate, yesterday, the white house called fauci an undeniable asset in the pandemic response and today, president biden said he has a lot of confidence in dr. fauci. back to you, cheryl. >> all right, jacqui heinrich, live at the white house, jackie, thank you very much. >> well, horseracing returns to new york this weekend, for the 2021 belmont stakes. for one famous face will not be in attendance. we've got the details, after this. >> ♪ ♪

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>> belmont park has reopened to the public, and fans aren't the only ones who are happy about it. fox business lydia hu is in belmont, new york with a lot more, a big weekend, lidia.

reporter: hi there, cheryl. yeah, you know, small businesses that depend on the horseracing industry are really delighted that racing is back with fans able to attend in-person this year. it makes a big difference to their bottom line after such a hard year for them economically last year they are expecting about 11 to 12,000 people to attend tomorrow's race, which is a reduced capacity, but still they say it makes a big difference. the new york racing association says the sport is responsible for 19,000 jobs, and generates more than $3 billion in economic impact, in a typical year, i had a chance to talk to a local mill iner based in new york city but she was actually also the kentucky derby this year, here is how she said last year's shutdown or elimination of fans at the races impacted her business. watch. >> it was like the flood gates opened and we had less employees

, because we didn't know what we would need. a breath of fresh air for me and for my staff and it was wonderful. >> yeah, and another case, cheryl, no masks required for fully vaccinated people, and that's definitely putting smiles on people's faces back to you. >> all right looks great out there, lydia hu thank you very much for that live report. well, a texas energy company now trolling north face for what they call crazy hypocrisy for rejecting a jacket order. listen. >> 60% of all clothing fibers are made out of oil & gas. for north face, it is likely 90% or more. so north face is not only an extraordinary customer of the oil & gas industry. they are also a partner with the oil & gas industry. >> market watchers gary kaltbaum and mitch roschelle. gary, i remember when i first wondered what a petro chemical was. it looks like the ceo of north face is getting schooled on this

one. >> you know, let's see. you've got to build plants which will need oil & gas and you've got to make the stuff which needs oil & gas, and you've got to ship the stuff which needs oil & gas, that horrible oil & gas industry that allows north face to do a bazillion dollars of business, it looks like they need to take a step back and do some recognition of reality out there and unfortunately liz, a lot is going on whenever i see a celebrity preach to us about the environment and then they get on their private jet to take themselves to a yacht, it's pretty much sickening, and hopefully people realize this going forward but i doubt it. >> mitch the other thing here too is that this is i guess the sad part about these companies that have all gone woke, you know, whether it's coca cola or walmart, you know, they are all getting into trouble because they are taking on these social issues, and north face is kind of getting schooled in that unfortunately.

>> you know, i remember maybe it was six months before the shutdowns, when the business round table wrote a white paper and published it in the wall street journal signed by 100 ceo 's saying we cared about staked who holders as much as shareholders, it's a slippery slope when virtue signals is more important than margin and profit and that becomes very difficult and you can't pay your employees when you don't have profit so i think it's time for companies to get back to profits and out of politics. >> i agree with both of you. mitch, gary k, great to see you both. >> take care, thank you. see you soon. >> uh-huh, well, the dow is now on pace for its sixth day in the green. out of the last seven sessions, more cavuto "coast to coast" coming up. >> ♪ ♪

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shares of square our surgeon after ceo jack dorsey says the company is looking into building a bit coin while it will give users greater control over the crypto currency they own.

bit coin revenue the company climbed 4.75 billion last year from 560 and a half billion in 2019, that's a big job. the dow right now, we are up about, you can see 141 points. you can see on your screen. nasdaq, s&p on track and the week later, the big jobs report today. i 59000 jobs were added in unemployment 5.8%, nothing better on a friday puts me in a great mood, charles payne on the market. >> it is a pretty good combination and its great having you hand it off. have a great weekend. good afternoon. this is making money. breaking right now, president biden showing jobs report historic, i'm saint it's a disappointment there is concern the workers strike is going to get worse but it's good news to the bed that wants to print money forever and stock market loves all that money printing. this report might have everything in your portfolio changed. and where do share my salute to