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tv   Cavuto Coast to Coast  FOX Business  August 25, 2023 12:00pm-1:00pm EDT

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dave: who was the only president born in nebraska? lauren: gerald ford. dave: i think that was michigan. i would say herbert hoover. lauren: three in a row for me. dave: july 14, 1913, originally given the nickname leslie lynch king junior, it wasn't legally changed to gerald ford until 1935. a little bit from the powell downward moment, we will see what happens in the next hour. here is neil.
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neil: read it but don't purchase it, stocks are up for the time being but i want to show you something that does the sway of jerome powell, every time he's before a microphone no guarantee stocks will be higher after he finished speaking. most locations, when he speaks stocks tank and that is when he started speaking in jackson hole, wyoming, what got them skittish, inflation remains too high, that's how he kicked things off, stocks going up 200 to down down down. he said we would keep raising rates to fight inflation if that is necessary. the economy growing faster than we expected. we raise rates further and that is what it takes. i'm paraphrasing here. they were rocketing, stocks have come back more than a
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little bit but this is just a snapshot for the moment. how often do i say one snap image shot? welcome, everybody. let's get to it with the office of management with donald trump and also gary cal palm is joining us, what the fed chief is saying, what are you thinking? >> reporter: the federal reserve chairman in the third sentence of his speech, he hinted one more rate hike this year and then a hold. >> we will raise rates further if appropriate and policy are restrictive level, inflation moving sustainably down toward our objective. >> reporter: 11 hikes the fed made over 12 meetings, the fed chairman talking uncertainty over lag effects of a year and
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how the rate hikes pass through the economy but at the end of the day focused on core inflation which is hotter than powell thought it should. he also looked look at the stronger growth of gdp this year and this could put providence at risk so powell concluded his speech like this. >> restoring price stability is essential to achieving both sides of our dual mandate. we will need price stability to achieve a sustained period of strong labor market conditions that benefit all. >> because of that lag, the fed will be data dependent meeting by meeting. if you read into that, that to him they may pause in this september meeting with a rate hike in november and hold all of next year. neil: you've been to jackson hole events, the hidden story is he's not outside saying this. the weather in jackson hole is
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sunny, the back half of that, and nice hotel, take advantage of the venue. >> he did walk around outside before the speech. they stick him inside and give that monotone address. neil: thank you very much, good seeing you again. the chief economist under donald trump, gary kaltbaum. what is jerome powell signaling here? i always think you rise to short stocks right before it speaks because there's such a thing is the powell put but what do you think? >> telegraphed another rate hike in the next meeting or after that but i can't begin to
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tell you how depressing that he thinks strong economic growth equals inflation. it is printing to $9 trillion, a lot of control with spending, that's the inflation point, what has to get under control or else. as far as i'm concerned, he can raise rates or not. watch the ten year yield, if it keeps going up, bad, hitting a 15 year high before backing up and i have to tell you under the surface, so many things because of the cost of capital going up, whether it is the credit cards, the latest that just came out is people for the first time ever, rolling over their debt instead of paying it off the first time ever, it is worrisome across the board and
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next coming up, massive amounts of debt coming to do from the government that has to be done at higher rates which means deficits skyrocket and it feeds on itself. neil: until we started chatting i was feeling good about today. let me get your take on this. that is inflationary if you think about it especially with mortgage rates the highest they've been since 2,000 one. it continues to grow. obviously the fed can address that, hiking rates and more, not everyone seems to be buying depending on the minute and the day whether it stops there. one more rate hike. what do you think? >> i agree with what gary was saying. it's a dire situation, one that the fed put us in. contributing to inflation and overspending at the biden administration regulatory policy, one thing after another.
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think about millennials getting hit harder because it is more difficult to get a mortgage. they may be renting forever with rental prices going up, this has a huge dampening effect on the overall economy in people's livelihoods. it is tough in the situation to continue. we have to look at the fed balance sheet. it's high, so our $8 trillion, twice what it was before the pandemic and if you think of the regulations, energy and other things, make sure we are not just looking at the corner which is important for inflation but headline inflation as well as oil and gas prices keep going up and everything else. we have to think about higher interest rates in the economy and what it means for families across the country and the situation we are in because the government failures. lauren: 1 will watch this closely. i appreciate that and draw your attention to another develop and we are following closely, the prices of things if indeed it looks like united auto workers could be going out on
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strike, 150,000 union workers targeting general motors and don't know the full details but they voted for authorizing such a move. doesn't mean they make that move. bob nardelli on what happens if they do make that move. what do you think? >> thank you for having me on. i'm not surprised. none of us should be surprised what's happening here. we have a crushing inflation and crippling interest rate in this economic environment the administration put asunder. you can't disagree with the uaw, to make living. you certainly could understand the environment, ups settled that 40%, it was unbelievable, legendary settlement of what
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they are going to get. that settlement is going to inflate inflation because wages are going up, packages going up. when they get air conditioning in trucks that will be another increase because of fuel costs. we see the same with the uaw, 40 to 46% wage increase. 32 hours a week. not sure how you build a car on friday if no one is in the factory but they are trying to survive whether it is an employee. neil: a lot of these deals go through. they got a generous payout. the delivery guys, they wish them well but around 40% when all is said and done. 40% for airline pilots, united likely to get the same so this is a trend that has a spillover effect. we wish these workers well. most people would feel that
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way, the price and the goods that they are delivering or selling to pay that. >> i have been saying it for a a while and two other gentlemen said we are in a private -- fragile environment, uaw strike, 150,000 people out of work and it is almost 10 to 1 for every uaw worker, you had 10 to 12 support employees in the supply-chain. this would be devastating again just another example of mismatch with this administration's spending on one end and the fed crippling middle-market companies with interest rates. companies where interest rate was $2 million down 14. 100% of free cash flow with in demand interest rates. we've got to get this under control, get spending under control, get back to some normality.
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there's a lot of distraction, the certainty of uncertainty creating this environment. it is unfortunate. neil: what happens with the history of inflation, it doesn't happen any time soon. it could go on for a decade or more. we hope that is not the case here but with these developments, pay packages and heights and this added wrinkle, bazaar wrinkle, the cost of crime in this country, out how it is sitting retailers, a number of them sang it is obviously the bottom line, even nordstrom the latest to say. that is a pricey price to buy stuff but the stuff they sell is going to get pricier as a result. >> look at the list of retail companies whether it is home depot, low, macy's and look at
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target projecting $1.2 billion, it is theft and look at nordstrom, the video out there, one of the thieves pulling the display set up trying to get it through the door so this is who is going to pay for this? someone has got to pay, you and i and the average consumer paying higher prices for goods to offset the cost of people stealing and ceos saying 70% believe this is organized crime. not only crime but home depot, forced an elderly man to the floor, he died. a security guard. this environment under this administration is fueling a lawless society. we've got to get it back under control. i fear for this society. neil: a lot of things conflating at the same time.
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we are following a fast-moving comeback, 23 points, sitting back saying he has to talk tough, jerome powell was talking tough but the fact of the matter, it is good to stay on top of that. not if you are donald trump. he's not really focusing on the market. ♪
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adam: neil: this is a photograph of donald trump. you've seen a million of them. presidents are the most photographed individuals on the planet. this is a special photograph taken in the fulton county courthouse or jail i should say in atlanta, georgia. first time the us president has had such an image recorded. it's a big deal.
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ashley webster on the fallout from that, a very sad day for america. >> absolutely. that image is iconic. it will be in the history books. that was the scowl to end all scowls as he looks into the lens, slightly tilted forward, a dull gray background, the message being portrayed was defiance, no doubt about that. trump jumped on twitter, called x now, he posted that mug shot and set under it, election interference, never surrender. there's a link to his us campaign, his website, you knew it was coming, t-shirt to being sold to raise money for the trump campaign. it is a symbol of america's defiance of tier any. that's the mantra from the
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trump campaign, he spent less than 20 minutes in jail behind me. back out the door to the airport but before he jumped on the plane he did talk to some reporters. gave a statement that said he did nothing wrong. he was right to challenge the results of the 2020 presidential election in georgia. >> he should be able to challenge an election. i thought the election was a rigged election, a stolen election and i should have every right to do that. you have many people you have been watching over the years do the same thing, hillary clinton or stacy abrams or others. >> reporter: trump facing 13 counts, 19 defendants, facing 13 counts including violation of georgia's racketeering laws, making false statements and conspiracy to commit forgery among others. the fulton county da, fani will
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us wants the arraignment to take place, september 5th around the corner, willis got what she wanted to, got the mug shot of the former president and inmate number. critics say that another attempt to derail his reelection campaign. as we have seen before, doesn't matter. you get indicted, more campaign money comes in and you get more and you see the gop presidential polls and he is way ahead. it will be interesting to see if we get the same effect from the latest legal drama in georgia. neil: he goes up five points in the polls with every indictment. thank you very much. ashley webster. certainly had a big impact on the presidential race. donald trump wasn't at the fox news debate but was mentioned now and then. scott brown joins us,
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massachusetts senator, well-connected, back in new england, would like you to run for the senate. let's explore all of that with scott brown, kind enough to join us. >> good to see you. neil: what do you make of the race, the presidential race and the fact that donald trump is running away with this thing. other candidates trying to score points where they could in a debate the didn't feature him. ron desantis came off best regarded in that but what do you think? >> if you want to be the king you have to beat the king, you can't beat trump light because we have donald trump and these indictments were disturbing. i thought he got terrible advice toward the end of his presidency, diminishing his legacy. that being said i watched the debate, many candidates at backyard barbecues, hutchinson,
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suarez, tonight, governor bergen coming and i thought frankly nikki haley and mike pence did the best, ron desantis, will it show anything in terms of closing the gap with the president? hard to say but one thing more is people around new hampshire are saying, want to deal with indictments and hearings and impeachments or do you want to look at something new? they are keeping eyes and ears open. neil: they are open to an alternative. i don't follow it as closely as you do, chris christie has emerged, second to donald trump, way behind but what do you make of that. and independent streak.
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>> you vote for chris christie, 5 or 6 more times, that is the running theme in new hampshire. people want to meet you, touch you, look in your eyes and ask questions. that is why we have no holds barred barbecues. chris is a fighter. don't forget john mccain when he came in. he was down but did the mechanics and lived here. as you can see this is a video, chris is a very good debater with great 1-liners once again people looking for people with more experience. nikki haley, former governor trumps that by being former un ambassador. she was one of the best un ambassadors we ever had. a governor and a congressman, vice president, i thought his statement about what donald trump asked him to do which was suspending the constitution and stood firm, that was very
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powerful. far from over. neil: talking more than the others. what about vivek ramaswamy, a rising figure, controversial one, what do you make of him? >> 525 people to our barbecue. desantis, 425. i thought he did a remarkable job at the barbecue. i've done many debates and the people on that stage earned their titles. you earned the title of vice president, governor, senator. the fact that i thought it was a little bit disrespectful and naïve on a lot of foreign policy issues. neil: it did not sit well with chris christie with whom i chatted yesterday. >> it was not necessary. a very talented, smart man with a bright future, don't need to say that stuff.
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it is not true. everyone is trying to make a difference, right the ship which is tilting right now, listing, we need to step back from the biden administration to things you talked about on your show today. it is terrible. neil: keep you posted on those barbecues. they sound like a lot of fun. former massachusetts senator, tim scott also a rising force, tim scott has mail going out to ratchet down some of the heat and nasty rhetoric, we will talk to him at 4:00 pm eastern time on fox news as we talk to all the major players in this race and what they want to do and how they expect to do it.
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>> today i sent a letter to president biden formally
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requesting immediate executive action in four key areas, expedited work authorization so we can get these people out of shelters and into jobs. financial support for federal housing vouchers, schools, healthcare, legal surfaces, case management and shelter for us to provide these asylum-seekers. neil: she had some more blunt things she was saying, new york governor hochul telling the administration we have a migrant crisis and you've got to do something about it. it comes at a time when in new york city a lot of folks are saying we have a migrant crisis and between that and crime and condition of the city we are not interested in visiting the city or building fancy restaurants. and her my next guest who has a good one on the upper west side, the owner, you might know, good to have you.
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the governor sent out a big sos, to the president of the united states. she is a democrat. eric adams, the mayor, said the same thing. >> i will go back to what she wrote in a previous memorandum, that this project was mismanaged. neil: but how they are handling it. sanctuary city. >> what is happening is we have hands on some of the contracts between the city, and and they had this one housebuilding to get the facility ready. neil: they are rezoning to accommodate them coming in.
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a very successful restaurant. it has got to be done. >> you know why? a lot less foot traffic on the street. >> now or before? it is a family-friendly neighborhood. and went out for ice cream, they are afraid to go out the door. neil: is at the crime part, extended in the street, you pulled it back and what do you make of it all? >> a combination of the crime,
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it is they have introduced flash cut. neil: you had no warning and no one in the neighborhood did. they are still there. where are they being housed. >> a dormitory for american music and dance academy. they moved students out and migrants out. neil: this is chasing customers. they might love your food. >> it affects the foot traffic. the reservation. the tourist business has saved for the summer.
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neil: running a business, with restaurants, it is tough. with all the added eggs, we talked to business owners. >> i think about it all for time but i have a family oriented business. some have been there for ten years. that is why you have a good working relationship. >> haven't discussed that for them. >> my youngest daughter natalie has the studio, up the street and going out last night and migrants are staying in small,
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dacian. and double bunkbeds, refrigerator, microwave. to get out of the building. and in the center of broadway. neil: gets to be late at night. >> having a party out there. one of the condominiums, the security. i have seen odd things like a barber shop on the corner, 70th st. on the flipside, assault his wife and the odd part is police came and took him and put him back in a facility.
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neil: obviously governor hochul reached out to the president to do something. if you could sit down with the president right now, what would you tell him? >> too much of a stretch on new york city and we have to have a break. i am not saying -- i would prefer that he close the border because it is too much. moving migrants around the country, seems like new york's problem, the way we are going. 60 days they bring a new group in but after 60 days the men have to leave. where are they going to go? julie: restaurant owners, business owners, past and
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present going to florida, going to texas. ever attempted by that? >> i will go to north dakota. i like christie gnome's commercials and -- neil: the governor indicated in north dakota the whole idea has been less crime, less a lot of this craziness. >> the city has gone downhill. everybody knows that. i am a new yorker. i have seen it deteriorate since giuliani. deblasio wasn't a pleasure either. mayor adams, great expectations for him on crime and it doesn't seem like that's a focus. neil: they say we aids that
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generate crime statistics exaggerated by that stuff. what do you say? >> what i say, i speak to the police. the police are happy that i am bringing it, surfacing the information because they ignore and stand down. preserve and ignore. they told me they can't chasing them. neil: incredible. >> racing up and down the streets. neil: don't lose that vinegar. you are relentless about it. this is parts of dealing with in this country, try not to play politics. those on the left, those on the right say do something about this. so far, not most of this.
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neil: call it bud light, trying to come back and hope new commercial campaign will get back to its roots and customers get back to bud light. what the latest? >> reporter: they are out with a new commercial at the most important time of year for them, football season. the brand has a sponsorship with the nfl and the connection is on full display on the new ad campaign. the commercial titled easy to sunday highlights classic football sunday conditions and activities. getting together with friends, teasing opposing fans. it also includes many cans of bud light. hoping it will drive sales and customers back to the beer after the controversial partnership with transgender influencer dylan mulvaney from earlier this year. they will need to sell a lot of hands to make up for that loss.
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and this year after top selling beer. anheuser-busch inbound north american revenue has declined 10%, and they sold off their properties. and to that for distillery. the transaction under review. the nfl sponsor ensures bud light is available the studio him. they are watching from the couch. they add and football fund allow the beer back to american home but might be too late. neil: neil: gary lkaltbaum is a
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martini man and a beer expert and business expert. and they keep trying and marketing again. >> when all is said and done. both sides of the story and up mad at the company. it is a business lesson, by knowing client and catering to the client, football season, tailgating, bars, cools when it is hot out, time heals what happens and they move forward and, they are straight up and straight down. and some of the problems, and
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at black rock. in the esg stuff. what is going on. >> board rooms have a lot of perceptions, the business has been going south, those are the reasons why they've got to do something different, they are taking action. it is as simple as that. remember, stop price-performance, shareholder wealth. that will dictate a lot. when you see target stop and move down not because of what happened. when you see what happened with disney stock, what has happened with bud, you see action and some different thought process and a few weeks ago, a professional wrestling fan. getting back to their client
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and i want everybody to succeed and get business back to better. neil: i man over the people, great seeing you again. we've got brian on "the big money show" with what is coming up in 15 minutes. brian: democrats begging president biden to stick with his student loan hand out meeting taxpayers to pick up the bill and the next appliance under attack from the green agenda, wait for it, your ceiling fan. more coast to coast after this. ♪
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>> you would not support an increase of funding to ukraine? >> i would not. >> into china's hands. >> open for russia is a win for china. >> tens of thousands of people being killed because we are not handling -- >> if we don't stand up against this type of autocratic killing, we will be next.
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neil: this is clearly not your father's republican party, or even your older brother's. the fact is a party that used to be in lockstep on protecting countries and democracy around the world, when it comes to ukraine and the multiyear effort to keep it out of vladimir putin's pause growing rejections by many in the party, running for president, whether it is worth the trouble. our current navy seal commander, author of smarter, not harder. what do you make of this? more of a fracture in the republican party. he wants to be our next commander in chief. >> it is healthy. we need to have some skepticism of these wars or who spends treasure and blood from the
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united states when we do. previously, you have seen jump on the bandwagon and if you are not asking questions about our involvement about adventures overseas your on the wrong side of things. what we learned from 20 years in afghanistan, post iraqi and wmd debacle there, it's okay to be skeptical and ask where are my tax dollars going? where's our national treasure going? i would like to see those questions asked and to see more answers. neil: the immediate question about vivek ramaswamy, he is a surging figure within the republican presidential group, he has said just get out of there. use that money at our border, better spent, much more immediate interest to americans. what do you make of that? >> politicians try to turn everything into a binary yes or
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no question. it is not as simple as just get out, just stay in. it is there is some middle ground always, this gray area. politicians have a hard time articulating what a gray area is. a little of this and a little of that, where is my main effort going to be? spending a lot of our money on the border, you have to have a secure border. advocating for ukraine, have a secure border but ours isn't. there are reasonable questions and we should be asking them. neil: the obvious one, in a race to get out of there, vladimir putin isn't going to turn tail and go. he wants to still get crimea which he had prior to this and a good chunk of eastern ukraine before he would entertain that. >> i think you are absolutely right. don't think he will give up
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crimea. that's a hard reach. traditionally you go way back, it is a warm water court, strategic total failure. can you have a negotiated solution, there was some sort of peacekeeping force done with other countries, south america, the middle east, southeast asia, different peacekeeping agreements and the you and watch agencies, we are not working towards a negotiated solution. it seems to be all or none, unconditional surrender on the part of russia which is not practical. neil: vladimir putin has tightened his grip given the mysterious death of prigozhin, the wagoner group leader. he has tightened that. >> you sending a message to
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independent groups that they are not going to exist anymore and the ministry of defense has his support. whether he did it, or not, i fully believe he did. it sends a message to his internal and external groups. neil: thank you very much. he is the real deal. he has done in his young life a lot more. we have 170 points now this. we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones your record label is taking off. but so is your sound engineer.
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neil: that is what they call a big movie, my friends, but it's not happening this year. dune, part two, we're toll pushed back until at least march of next year, another victim of the hollywood writer is and actors' strike delaying a whole bunch of things including cast members and others who hoe up for movie releases that are still on. it's gotten to be a confusing mess, and for those looking for the sequel the dune, you're going to have to swoon a little longer. that's the most i can try to analyze here. all right. here's brian brenberg. hey, brian. brian: hey, neil. that clip reminded me of my front lawn this summer. [laughter] i had no grass. it was like a dune s

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