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tv   The Evening Edit  FOX Business  April 12, 2023 5:00pm-6:00pm EDT

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larry: federal government has no business telling us how to live. this is a free country with cfree choice. jackie deangelis in for elizabeth macdonald. >> you tell them. great to see you. >> all right, good evening inflation still taking a bite out of your wallet we bring break down the date. and biden administration unveiling the toughest
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effemissions rule yet. >> and the legal battle intensifying between house judiciary committee chair jim jordan and manhattan da alvin bragg. department of education launching an investigation to virginia public schools over their handling of sexual assault cases. we will be speaking to a father one of the victims, i am jackie deangelis in for elizabeth macdonald, "the evening edit" starts right now. >> welcome, markets today reacting and ending lower across the board, dow is down 38. this after the march inflation read came in at 5.2%. it was down from february's 6%. madison has more on the latest numbers, good
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evening. reporter: good evening, we have the lowest level of consumer inflation in nearly two years it is still high. fed wants an inflation rate of 2%, we're at 5%. that 5% number in march lower than 6% from february. and the smallest gain since may of 2024, core rate strips out volatile food and energy price its did pick up a 10th of a percent from the month before, 5.6% is a high number. in part because of shelter costs going up, cost of housing for our families here in america increased 8.2% year-over-year. that plays into the core inflation number, you go outside of the core and work innein -- work in food costs, you see our two big inflation issues are. some staples we love to eat up, cost more than last year, eggs up 36% increase in cost.
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compared to year before. and bread up over 15%. and coffee up over 10% in cost. but, some better news as food costs go up, energy costs have been coming down, other items decline in cost used cars and trucks down more than 11% from a year ago medical care down. the federal reserve is still expected to raise a key rate a quarter point on may third to bring down the inflation battle continues. >> madison thank you so much. >> for more on this let's bring in former white house counsel of economic adviser chairman thomas philipson and member bob lhota, great to have you with us. thomas, start with you. talk a little bit about inflation, the numbers that come down, my guess is that administration will go around touting that. and continuing to say, see
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we told you it would be a while but we're working on it. and the numbers are coming down, they will consider this a win, when you see prices, still up, year-over-year, for a lot of kitchen table staples like eggs. and madison mentioned coffee and bread. americans are still struggling, what is your read on this number? >> well, i think that -- so what is happening is that year-to-year, looking better and better, but month-to-month the core inflation you know food and energy, is very stubborn at you know 5 percent annualized roughly. and will a part is housing that is about 40 percent of core, housing is lag than cpi, we are having a housing recession but it shows housing prices are going up. also because prices of houses are you know, in this recession, you have a
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mortgage contracton, the cappi -- applicationing down a third. that affects both demand and supply. demand is less, but people don't want to sell their homes either. inventory is low, the supply is less. that has offsetting affects on the prices, most purpose thing for the listener this march number is not reflecting april opec decision to raise energy prices. >> a great point, we'll talk more about the regulations, thomas, we'll get a bit more economic date this week, tomorrow we get ppi, prodays producer prices, then retail sales friday, we hear how the consumer is doing, we know folks have pulled back a little bit, they are feeling heat and strain of
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inflation. your thoughts on the market react. >> we have not seen, the credit crunch with banks, we have two forces operating on raising the price of credit, one is reduction of demand from the fed increases, but also reduction of supply of credit that came through the banking contraction, we have not seen it worked in yet. most people worry about how that will -- whether it will continue, and also translate.. >> congressman, i want to come to you. talk a little bit about the new proposed rules coming from the epa on emissions of gas powered vehicles. what i'm seeing is that more regulation will push up the prices for those vehicles while we know that electric vehicles are expensive at average of roughly 65 thousand dollars.
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this will put a sprain to producers with respect to changing their factories and trying to fit with the new epa laws. and at the same time, it will put a sprain on consumers who are going out to buy and kind of a vehicle. >> you are right. we have a problem, first, we think about electric vehicles. the federal government should not be mandating to american people, what they should be driving. that should be up to the american people, on the electric vehicle side there is a lottery looked ought. at. >> where do you get minerals from to produce the batteries, i was inive in of in nevada last year, we produce 1% of lithium in world from united states, 60% is from australia, 85% is processed in communist china. when you look at, that with
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right off the bat, is -- do you want to trust them. you have to figure out, first we have power in this country, right now talking to energy producers, they say we need 40% more power here. if we go to electric vehicles, we don't have the power, we see they want to shut down our power plants, we have a real issue. you look at the grid, can the grid sustain it and the issue of the charging stations. >> you think about this, you costs going up for consumers infrastructure is not there, and out thes fact that electric vehicles are cleaner when mining process to create the batteries is a very dirty process throughout the supply chain. and by the way, congressman, we're giving china an advantage because they have most of the resources that we need to be able to do this. the critics are out there rick perry was one of them.
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>> this administration is so wednwed to radical leftist environmental movement. the key s these people don't care about human beings, if they did, they would care about human beings flourishing in the way that human being flourish in the world is through the engines that fossil fuels dive. >> your reaction? >> well, the former secretary, he appeared before us in committee, you think about what the administration -- this administration is trying to do, let's go to last year, in september. governor of california was telling everyone they were going ev by 2035, they had a heat wave, governor said, you have to turn your air-conditioners off and don't plug your car in. how are americans getting to work? it is -- against a thing that is never mentioned, by
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the left, that from 2005 to 2020, united states lead the world in emissions reduction. >> you make great points, we'll have you both on again soon, congressman thomas thank you so much for your time. >> th thank you very much. >> president biden continuing his tour of ireland. elsewhere overseas tensions are growing between of u.s. and china. fox news' jackie hinrich is in dublin for us. with the story. reporter: hey, there, a good part of the president's visit to ireland is about exploring his roots, the white house also billing this as official business with his visit to northern ireland, government there has not been operating for more than a year despite the good friday agreement that u.s. helped broker 25 years figure for peace and power sharing. pr..
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the government there broke down after conservatives who supported u.k. withdrawal from the european union also backed out of northern ireland power sharing agreement after b brexit. today biden called for renew el and repair. >> we're walking out this way. >> about diplomacy you will hear the president talk about that and power of partnerships. we'll talk about that with the prime minister. reporter: president's critics say his attention is needed here at home after leaked intelligence potentially expected u.s. sources in russia, and taiwan foreign minister raising the alarm about threats of war from china after the taiwanese president visited the u.s. >> i just came back from a trip to t the indopacific
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there are ser serious questions about emer american leadership, this president in it could have been asleep at the switch there is no question this is a form of espionage we need to get to the bottom of this quickly. >> here in ireland, our producers were close enough to the president to shout questions at him about that leaked intelligence and what the u.s. is doing to repair our relationships with our allies. the material suggests use has been keeping tabs it our allies, they did not get answer from the president, highjohn kirby today did an interview with fox, saying that administration is taking this seriously and making calls on the allies and doj launched a criminal probe.
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>> jackie hinrich thank you so much that happens too much he will not an. >> joining me now, carlos gimenez. great to have you on. i want to get your rak reaction that that report, we understand that presidents have to balance m situation in the world, the president is in ireland, handling one set of issues that are seemingly less important right now within this time element. you have a situation where china and taiwan that seems to be bubbling up. >> yes, it is bubbling up, we need to get the arms that taiwanese paid for been approved long time ago, those arms are not getting there. and we need to strengthen our ties in t the indo-pacific region. we need to focus on what could be the next hot spot
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in the world. >> and how do you think this plays out. the ap reporting that china say that taiwan incirclement drills are a serious warning. i see this as china look at taiwan to grab on anything to say it is a provocation. >> well, they -- i don't think that when china does take that step it will be an incirclement, but a direct invasion, they are practicing and showing their strong and flexing their muscle. united states and see what united states will do. when they are flexing there are muscles, right now we're not doing much. under this president i do not expect were. >> can i ask you about international reaction to this and from our allies, for example president macmacron of france who said. the worse thing that be that
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we are followers of that topic. he said, that you know it's not in the country best interest to be onboard with the united states should something happen with china. >> i would have been interested in being a fly on the wall when he and xi had talks for about 3 days, what was exchanged between the two. not surprises that macron would say something like, that disappointing but not surprising. >> congressman carlos gimenez thank you so much. >> good to see you. >> all right biden administration in full flown damage control mode following leak of classified government documents, legal battle heating up between house judiciary c chair jim jordan and manhattan d.a. alvin bragg next on "the evening edit."
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>> they are weaponizing our justice system, tucker. if you are a republican running for office and you get a subpoena you might as well survive. jackie: former president trump has plenty to say what
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speaking to tucker carlson, they were talking last night, including latest on his legal troubles. for more on this we bring in former federal prosecutor katie, great to see you. let's talk about what has transpired here. in new york city. we watched the circus play out last tuesday as president trump arrived and went downtown for r his arraignment. this bolstered support from his base, people feel that alvin bragg is going after him, weaponizing his power in the current situation to take a misdemeanor and upgrade it to a felony, because he promised the people who voted film had office he -- voted him in office he would go after president trump. >> that is what the optics look like, there are a lot of out standing questions about how the prosecution came to be that many years later and after the same
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d.a. office rejected that prior. jackie: alvin bragg going after jim jordan who wanted to investigate aspects of this. he was particularly fired up last night on fox business. >> the department of justice said there was no case here. when federal election commission said there was no case, your predecessor said there was no case, and you yourself, you get elected, said there was no case even when you campaigned on it you said that because michael cohen was your star witness, he lied 6 times in front of congress. and -- suddenly you change your mind and bring a case against president trump. and then when we asked to talk to guy who cause the flip flop, you say no, you take us to court. jackie: as chairman jim jordan mentioned. the manhattan d.a. suing him jordan, saying that chairman
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and commit quote participating in a campaign of intimidation retaliation. >> this is ridiculous for bragg's office to suggest that jim jordan's subpoenas are inappropriate, this is first prosecution of american president for acting related that he under took after he was in the white house. not to mention there was federal funding involved, certainly, i think there is a lot of questions that deserve to be answered. in terms of the scope. perhaps court might limit from of the information required. but i think this is justifiable and necessary at-this-point. jackie: with president trump, he seems to be garnering support, a new morning consolt poll found trump in lead with 56% of vote among current and potential g.o.p. challengers. desantis he has not announced is trailing in
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second with just 23%. having said that, if trump were to move forward and get the nomination, to run for president, and possibly be elected would his legal troubles bar him from serving in anyway? >> well, not according to the requirements in the constitution, he is be pr tryed and convicted of a criminal defense, i think that pract bragg took -- this risk he would bolster trump, pursu. >> we will watch and we are counting down, katy thank you so much. >> thank you. jackie: south carolina senator tim scott announcing his presid presidential explorey committee. >> d biden administration in damage control mode after
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visit coventrydirect.com. jackie: welcome back, biden administration in damage control mode after spilling a trove of top-secret documents giving america's know mes access to highly sensitive classified information and endangering national security and harming international relations, joining he now congressman mike turner. you just got off the phone with pentagon officials, i amureious -- curious on what you learned. >> this dangerous. they are in damage control and reaching to allies to reassure them as to the documents and leaks. also more important, they are trying to look for the source documents. the source of which these documents have been taken
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from, hopefully they can look to see what other documents are out there or might yet to come, that is of greater concern. we don't know universe of documents that might be leaked. they are taking mitigating steps to try to shut own people's access to the documents, they are working with ukraine. they are static, they are picture of time at the ukraine conflict. and working with ukraine to make certain changes can be made to their mol policies and plans. jackie: a cup of issues, the documents leaked over a month ago, is our understanding, we're just now hearing about it. it was not flagged in anyway. also that this started spreading on social media the information might have been edited, possibly and you know, tampered with or molded. defense secretary lloyd
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austin saying that everything possible is being done to find the source. >> we take this very seriously. we will continue to work closely with our outstanding allies and partners. nothing will ever stop us from keeping america security. we will continue to investigate and turnover every rock until we find the source of this and the extent. jackie: do you feel confident that every rock is being turned over? >> well, as you pointed out biden administration has been slow on the uptick, the documents have circulated out in the internet and the chat sites before it was identified. then now they are coming up to speed in figuring out what was included. and how they have been altered. but also then what other documents might be out there. i think with the department of justice, having gotten involved they are garnering resources that hopefully can
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come on a conclusion, you are correct they were slow to identify this even at a risk. jackie: your colleague mccaul it words for the leaker. >> whoever did this in my judgment is guilty of espionage by giving away our secrets, which will only empower and embolden chairman xi and china and putin in washington, having gotten back from taiwan he remember circled by battleship and aircraft carrier and fighter jets, it is serious, it will hurt ukraine, which is very sad. as they build their counter offensive in the springtime. jackie: do you agree with his characterization. >> this is espionage, we do not know yet if they are american, if they a are
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they will be held to justice. if this is foreign intervention we have to make certain to plug the leaks and opportunity for them to be taken advantage of, this is criminal. and this needs to be taken with highest level of seriousness. jackie: final point axios saying this could threaten trust with our overseas allies, as well, we'll dealing with that while dealing with china. talking about president macron for example saying that you know, his country would have to evaluate if it would be in its own interest to stand with united states against china, your thoughts. >> well, i think president macron has his own problems to deal with in his country, he may be speaking to his domestic audiences, as a member of nato he benefits from the americans and our national security we help provide to our nato allies,
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what is important we get focused on issue we're battling au authoritarianism. jackie: a great point, chairman turner thank you. >> thank you. jackie: department of education launching a formal investigation into country public schools, they failed to respond to reports of sexual assault and tim scott announcing his presidential explorer to committee. all next on "the evening edit." i got into debt in college, and no matter how much i paid, it followed me everywhere. so i consolidated it into a low-rate personal loan from sofi. get a personal loan with low low fixed rates, and borrow up to $100k. sofi get your money right. (man) what if my type 2 diabetes takes over?
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>> i will nirv never back down on defense of conservative american values i'm announcing my
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explortoriy committee for president of united states, if radical left gets their way millions of more families will be trapped in failing schools, not on my watch. >> that was senator tim scott, of south carolina. taking a major step today ofs make today making a run for white house. here is me to break it down. what it means for the 2024 g.o.p. field is former chief speech writer for george w. bush, bill mcgurn. always great to see you. why not just launch an all out presidential bid at this point, why the soft launch? >> i don't know. he may just want to test the field. i think there would be enthusiasm for him. he is an endearing politician, he connects with people. i think that there would be a lot of excitement for tim
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scott, he is different from donald trump. different from ron desantis. different from a lot of people. why not. i think that republicans are stronger to hear from more people, find out who is the best. jackie: senator scott on fox and friends this morning talk about what some g.o.p. candidates are doing wrong. >> the field of play is focusing on president biden's failures, what americans want to see is a contrast between the radical left and the blueprint to ruin america and why our policies actually work. jackie: that is one aspect of it. the other aspect too is to drill down,tizintize teasing out what he says to drill down on the economy. how president trump had built this whole economy up in united states then how president biden and bad policy tore it down, economy seems it will be a huge
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issue moving forward for the candidates. >> right. he is at the center of it in senate, all they do is legislation. we knows what joe biden did. what affect is tr is it is having, he is right, you have to explain what you would offer as an alternative and why your plan would work when joe biden's didn't. jackie: another thing discussed at great length is the g.o.p. position on abortion. abortion was a polarizing issue in mid terms. that is perhaps one of reasons that the red wave didn't material news the way some were expecting that it would. do you think that g.o.p. can modify in its stance in some way on that issue to be able to appease a larger body? >> well, it depends on what you mean by modify. i don't think they have to back down on any pro life principles, i don't think
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senator scott will. but you know, dobbs rule is up to states, the states have make their decisions, what works in alabama will not work in new jersey, they have learned this before, after roe v. wade they pro life side settled on human life amendment, no chance of passing they lost a few races. until they started to focus on specific issues. like right to a minor of abortion without parent's knowing. same sex select abortion. all things like that, trimester aboards. and i think we'll get back to that and i don't think that there is an end to this, i think this evolves, and i think that states will go through a lot of iterations to see what works. the people are split, when i say split, they are not like in the middle, they are all
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different ends, you have to find out what you can persuade the people to do and then pass it. >> yeah. president trump in a sit down with tucker last night, he talked a little bit about, said quote he would never drop out even if he were convicted. many have said that the legal road ahead of him is very long. not likely that he would be convicted that quickly as a result of how the process has to play out. having said that, with this sounding him, do you think he is likely to get the nomination or does it detract even if it rallies his base, detract from h how the g g.o.p. sees him as a candidate. >> it, it is a problem for him it may be a short-term bump in popularity, but i think there are other indictments coming. they may be as frivolous but
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the charges are more serious. i think than alvin braggs it will be hard to juggle all that. i do think he is hurt by this. i do wonder what he will do, he will not want to like he is running away because of these prosecutors. but i do wonder if he will be around for the all of the debates and the race. jackie: you bring up a great point, asa asa hutchinson said there is a distraction with former president trump and his bid for 2024. bill mcgurn thank you. we'll speak with you later on sit tight. >> thank you. jackie: all right, "the evening edit" hot take coming up and department of education launching a formal investigation into loudoun county public schools over concerns of school system failed to respond to reports of sexual assault. but first. let's check in with friends dagen and sean.
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on the bottom line. sean: we have steve forbes who will break down parents bailing out their gen-z kids, paying for them. and -- woke go broke. we'll dive into bud light. >> alex baron son to talk about his lawsuit against president biden and also pfizer about him being banned from twitter. the internet really from talking about you know vaccinations. and also deroy murdock and tacky tammy bruce talking about how left is going after parents. sean: i saw tammy, she is so fire, stick around.
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jackie: the department of education launched a formal investigation into loudoun county, vi virginia public schools that school leaders failed to address multiple sexual assault cases. david with the details. reporter: this investigation shines a light on problem plaguing the loudon county public school district that date back to 2021,
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department of education opened an investigation following accusations that school leaders did not adequately address two high profile sexual assault cases from bet 2021, one involved a teenage girl who authorities say was raped by a biological boy wearing a skirt in a girl a back bathroom. they argue that did not respond to victim's claim of sexual assault. >> it should the not be political, this is the foundation of title ix protecting students. we have raid out laid out evidence. >> district responding to fox news in a statement saying quote: >> as this investigation
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relates to matters concerns student privacy we'll not comment. the state of virginia opened a sip rally investigation last year a special grand jury came back and said that district quote, failed at every juncture. jackie: david thank you so much. >> here with us now can is loudoun county residence scott smith. thank you for being here. >> thank you very having me. jackie: that investigation coming after two sexual assault occurred in school district high schools, perpetrator carried out a sexual assault at one school before transferred to another school where he then sexual assaulted another student, i can only imagine outrage you feel, first begin telling me how has this impacted you and your
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family. >> thank you. this is really impacted my family tremendously. we get bullied, my daughter gets bullied to this day, it won't stop. really divided the community. and unfortunately because of the cover-up from day one. you know, nobody has been held account aable. jackie: let's talk about how long it has taken for this this to play out for an investigation to occur, i imagine that must be difficult for you. as a parent who is fighting for rights of your child, you see how school board handled this talk to me about that. >> the fact that the department of education is now declaring it will investigate lcps for potential title ix violations is means less,
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like the school board who branded my a domestic terrorist, saying they will investigate the harm they did to my family, it biased biabiased. only results will come to protect school board. jackie: it has been reported that superintendent of school district, scott he was asked about that. he denied having knowledge of said sexual assault. superintendent was then fired in december of 2022, after special grand jury report said he lied about a sexual assault. i can only imagine that all of these various accounts have contributed to muddy the waters of what actually happened. >> yeah, the water have been very muddy here. very turbulent.
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but he lied, the special grand jury had not come out with their report, loudoun county school board would have never fired him, they would have stood behind him, like they are not releasing their independent report letting the county know what happened it is ridiculous, it goes on and on, evenly the truth will prevail. and accountability will be had. >> a great point. the system has to play out and i'm sure it is difficult, you will continue to fight for justice scott smith thank you for talking with us. >> thank you, god bless. jackie: god less. >> "the evening edit" hot take is coming up, stay right there. because covid is still out there, and so are you. and if your last vaccine was before september 2022, you're out there with fading protection.
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okay welcome back tonight hot take wall street journal, great debbie back again. house judiciary chairman subpoenaing into the probe at elon musk twitter take over. this is a really hot topic. and obviously jim jordan he has had a busy week. he is asking for all ftc communication surrounding its investigation, your thoughts on how this is going to play out? next i am a fan of ftc chair.
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and i think probably, like most government entities it asks too many questions of elon musk. and was involved or should not be. that said i just wonder about the strategy of issuing these subpoenas from capitol hill. i think republicans have to set priorities. i worried if they are not going to produce anything. that in six months democrats are going to say republicans have had the house and they have not been able to do anything with it. i do not think investigations are part of congress' job. but i don't think they are the way you campaign for victory. so, i would like to see a little more setting of priorities. because frankly i cannot keep track of all the separate investigations. >> i hear you and you and i are on same page. unfortunately so much as gone wrong in the course of the past few years it leaves a lot of questions unanswered.
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specifically when it comes to the twitter files and what we have learned since elon musk has put his money where his mouth is in taking that company over and exposing what went on. this is an important issue to try to get to the bottom of, the suppression of stories. the suppression of free speech and the ability to use these platforms to communicate publicly and how the government was pressuring a private company to suppress messaging basically. >> it is outrageous. trump should be regarded as a savior twitter and so forth. i think when i say the house is responding with all these investigations, let's not forget they are responding to what the democrats did. january 6 committee which did not obey standard rules to impeachments.
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in a way this is what you get when you do that. that is why people are warning about d.a. alvin bragg. that some day republican prosecutor is going to get in his mind to prosecute one of the democrats. so let's wait and see. no doubt elon musk was treated badly by both twitter and i think the federal government. >> you bring up the great points and musk, exposing this of the twitter files which by the way we've got michael shellenberger on with us on the evening at it tomorrow to dig into it a little bit more but maybe just exposing it was enough we will see if the house can find anything to hold anybody accountable. bill mcgurn great to see you tonight thank you. >> thank you. >> from distended shirt e-mail we enjoy hearing from you. thanks for watching the evening at it not going to turn over to my friends on the bottom line. >> great, thank you. ♪

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