which was loaded with explosives, gerri willis with latest. reporter: that is right, is now classified as an incident. a lot of questions about what happened this afternoon about 1:00 on new york border with canada, we call it rainbow bridge, an explosion of a car happened two people died in this, very close tonight agrafalls. -- niagara falls, tsa now operating at heightened security posture. after this explosion which resulted in death of two people who were in the vehicle. you could see rainbow bridge here. a border patrol officer was also injured. here is what happened, it involved explosion of a car, said earlier to be packed with explosives, now some questions about that. this was at entrance to bring, fire ensues, then the pair were driving in direction of canada from the u.s. we have an eyewitness account of that. >> it went airborne the vehicle began to turn sideways, and under something overhead, and then it hit something over there my prayer was please teen let the officers get hit, then black smoke, no explosion, we heard the peopl

larry: all right well, now the dow jones, 4-day rally up almost 600 today, gerri willis is joining uss big market rally. what is going on and why? >> it is a banner day for stocks, a broad rally in the markets with all three major averages ending high are by are -- higher by her more than 1%. let me show you. and the dow and s&p having their best week in a year, immediate cause of that optimism is hope that the federal reserve is done raising interest rates. and meeting this week central bank leaving target for overnight rates a range 5 to 25 -- 5.25 to 5.5%. and worker productivity highest in 3 years and labor costs decline. another possible positive for stocks, we're expecting earnings apple earnings out shortly. and analysts see an upbeat quarter, they are expected in just a few minutes back to you. >> gerri willis, you are right, but rick wrighter a smart bond man said be careful, long-term interest rates are going up, i agree. because the tr treasury sell 1.6 trillion worth of bonds in next 6 months, the speaker mentioned that in our interview. this story is not over, but you kno

gerri willis, thank you.osevelt hotel where most of the migrants are living right now. mayor eric adams also announced that because of the migrant crisis, he'll be cutting the city's education budget as well. they'll cut that budget by $1 billion. joining me right now is new york congresswoman, claudia tenney. congresswoman, good to see you this morning. you're right there in new york. i want to get your take on all the cuts coming to new york as the city is forced to allocate more money to the migrants. >> this is absolutely astounding that he said we have tough decisions to make. the tough decision is you've got to put together a plan to deport these people with false you asylum claims. we cannot continue to burden taxpayers of new york. it doesn't just affect new york city. it affects upstate new york where i am. the tough decision is figuring out a way to take these people safely back to the border, put pressure on joe biden, alejandro mayorkas, the administration, the democrats in albany, everyone who is

gerri willis, thank you so much. good to see you. >> thank you. jackie: the new u.s.ons says the united states may he i have is excited about -- navy is excited about resuming military communications with china but more work is needed to solidify the next steps. president biden and xi jinping agreeing to resume military talks during their meeting in san francisco last week, beijing freezing communications after then house speaker nancy pelosi visited taiwan last year. joining me now, heritage foundation senior fellow for china strategy and the author of the hundred year marathon, michael pillsbury. good morning to you. >> good morning, jackie. i remember you can speak chinese. you have a ba in asian studies from cornell. jackie: that's correct. that's correct. we don't have to practice on tv as my new york accent and mandarin doesn't translate that well. i want to get your take on u.s., china relations right now. president xi jinping came over here to meet with our president. many people saying they probably shouldn't have had that meeting at all because biden was not

larry: inflation down, stocks up, we go to gerri willis, what you got?ion data sense stocks soaring. labor department reporting that prices were flat month-to-month. core inflation, high a higher, numbers taking investors by surprise, all 3 markets in rally mode. nasdaq with a gain of 326. what a performance. treasury yields cratering, wall street betting that the rate hike is over. and devil is in details, expert upbeat showing in october to decline in always volatile energy prices, gas down 5%. on other side shelter prices continuing higher, rents 3/10 of a percent higher, deeper to food prices, egg prices falling 22%. but thbutter and milk falling but some remain sticky ground beef, up 7.9%. not everyone says -- for workers real wages continue to decrease. since month biden came into office real wages down 3.3%. larry. larry: that is a key point the last one. other thing, i learned from gerri willis, eat eggs not meat. >> thank you so much. >> now let's turn to china. big meeting is wednesday tomorrow in san francisco, i don't know why the bidens don'

the other thing i learned today from gerri willis, eat eggs, not meat. . now let's turn to china. the big meet something wednesday tomorrow in san francisco. i don't know why the bidens don't understand china is not our friend, they are not other ally, they are our adversary and our enemy. joining me is robert lighthizer, the brilliant former u.s. trade rep during the trump administration and author of, no trade is free. changing course, taking on china and helping america's workers. bob lighthizer welcome to the show my friend, as always. you know, china is financing through oil imports as you well know, china is financing two wars, the iranian war against israel and the united states and the russian war against ukraine and the united states, point number one. point number two, i haven't heard a thing about tougher trade policy, okay? and point number three, they keep talking about managing competition. what does that mean, managing friendly competition. that is not the game, bob lighthizer? >> no, it sure isn't, larry. as one of your other guests said w

gerri willis, not happy year. city thinks there are serious budget cuts in the face of a serious migrant wave. they were not expecting this. >> hello to you. that's the amount of money city hall expect to pay from migrants so what is happening? they are cutting their budget, but first and foremost, if you look at those numbers, in the next fiscal year, $132 million cut to their budget including 42 million and wipe beatty classes but the entire budget, the department of education, $547 million cut. the fire department 74 million, social services, $322 million, taking into the nypd, what does that mean over time? by 2,025 there will be a 13.5% head count at the police department, that makes a big difference, they expect less than 30,000 officers patrolling the street in the next three years. let me give you numbers to compare that to. 2019 there were 46,000. 1995, 28 years ago, there were 37,000. 30,000, 29,000, very big difference. i want you to hear what the mayor had to say. >> from months you heard me talk about

our very own gerri willis joins me now on this big market rally. , gerri, what's going on and why? >> reporter: well i got to tell you it is a banner day for stocks, green lights for stocks, a broad rally in the markets today with all three major averages ending higher by more than 1%. let me show you here, the dow up 564 points, the s&p higher by 79, the nasdaq rising 232. the dow and s&p having their best week in a year. the immediate cause of all that optimism is the hope that the federal reserve is done raising interest rates. at it is meeting this week the central bank leaving target ever overnight rates at 5.25 to 5.5%. and a upbeat economic report, worker productivity up 7% annual pace, that is the highest in three years while labor costs declined .8 of a percent. another positive for stocks tonight. we're expecting earnings, apple earnings out shortly and analysts see an upbeat quarter. those results, well they are expected in just a few minutes, larry. back to you. larry: gerri, of course you're right on all point but rick rider, a very sma

stuart: gerri willis, thank you very much, indeed.s" it's related to gerri's story. wind power, key to democrats' climate change goals, faces a crisis. art laffer, former economic adviser to president reagan, is with us this morning. question, art, are biden's green policies failing, and if they are, what's the result of that? >> well, they are failing. they're failing badly because they aren't simple, they aren't direct. what they should do if they do believe there's a climate rob, and i'm not sure whether there is one or not, i'm not an expert there, they should have a carbon tax matched by an income tax rate reduction so it's revenue neutral and let markets decide that. no, no, no, these people who don't though how to run anything, as you can see by watching politics, they try to run green energy, and it fails every time. and now we're coming into this problem with the brown withouts and blackouts. i can remember when we had that with gray davis california, stuart, and it's a disaster when government tries to micromanage this world

gerri willis has the details for us. >> reporter: david, that's right. we're classifying this as an incident. lots of questions what happened this afternoon about 1:00 at the new york border with canada, u.s. canadian border. we call it the rainbow bridge. that is where an explosion of a car happened. two people died. this is very close to niagra falls if you're not familiar with the area. the tsa operating at a heightened security posture, pardon me after the explosion which resulted in the death of two people inside of that car. you can see the rainbow bridge right here. a border patrol officer was also injured. here is what happened, the incident involved explosion of a car said earlier to be packed with explosives. there are some questions about that. this was at the entrance to the bridge. fire ensues, the pair were driving in the direction of canada from the u.s. we've got an eyewitness account of that event. listen. >> it went airborne. the vehicle began to turn sideways and went under something overhead and then it hit something over there and my

students and faculty want to leave colleges they say are not doing enough to address anti-semitism, gerri willisersity. gerri, yeshiva wants to be safe haven for students. it's bringing a lot of applicants? >> you bet, stu, he told me applications are up 65% for the coming quarter. half of those are transfer applications. now this small jewish orthodox university is already wait list. they have more students than they can take but berman says they are committed to adding the students. >> it's not just active cases of harassment and hate and violence that we are seeing and being reported, it's what's not being reported. it's what's happening in the general environment where jewish students are hiding who they are for fear of the repercussions. >> burman is also organizing, spearheading colleges and universities that are standing behind these students and opposing the hamas atrocities and trying to keep the young students safe. this organization includes diverse group of universities protestant, catholic, black, you can see some of the names here on the full screen, they include notre dame, southe

gerri willis is at the american dream mall in east rutherford, new jersey. what's happening there?it was a scary a few minutes earlier this morning when the bomb threat was called into the american dream mall here. we were on hand and we counted some dozens or so state troopers including three with long guns. we were evacuated outside of the mall and outside the parking garage with about a hundred employees, possibly even more consumers but this bomb threat was serious. they had 40 to 50 state trooper vehicles, bomb sniffing dogs, armored vehicles, helicopters overhead but this kind of crowd, don't know why, maybe it was of a threat, or this year's black friday, not as many folks as i expected in this mall today, fairly light crowd. we will wait and find out what the situation is in other parts of the country but people who do go out and shop are going to be awarded with a lot of discounts. that is what is going on across the country. we see best buy, macy's and walmart already offering 30% discounts this holiday season. the national retail federation says sales year-to-year will b

gerri willis has been on the story, joins me now. do we know why it has been delayed again?enforce, the difficulty around this is just amazing. the irs doesn't even have people do it and you could say that this is an early christmas present for gig workers and small businesses, the irs announcing for the second year in a row it will delay implementation of american transactions of $600 or more to be reported for tax purposes. the delay comes a week after the gao announced the law would result in at least 30 million new 1099 forms arriving in americans mailboxes come january and that is just 10 months before the election so now it is delayed. the new rule was part of the american rescue plan passed in 2,020 one, you probably remember that and while the rule is a reporting requirement for people on paypal its effect is to create tax obligations for individuals and small businesses using those services but the devil is in the details. listen. >> the people who are really going to have a challenges the paypal -- all of a sudden now they've got to try to come up with some methodo

gerri willis, you have eyewitness testimony here, liz?s ago we heard about the incident originally. we thought a terror attack, described as an incident at the new york-canadian border, at the rainbow bridge very close to niagra falls. as a result the tsa is operating at a hyper security posture. the explosion resulted in the death after two people. a border patrol officer was injured. original reports of the begin it was explosion of a car which was packed with explosives and then a fire ensued. you've been showing viewers picture of the fire in the upper right corner. the pair were driving from the u.s. in the direction of canada, trying to drive to the customs and border patrol building. here the sound. this is an eyewitness account of that event. >> it went airborne. the vehicle began to turn sideways and went under something overhead, it hit something over there and my prayer was please, don't let it, any of the officers, you know, get hit over there. all of sudden, black smoke, no explosion. people heard it, metal on metal. all of s

gerri willis is live in brooklyn where some migrants are refusing to stay in a newly-opened shelter. . >> that's right. we are at floyd been it field. this is 1 of 210 emergency shelters that the city has put together here and the mayor warning that big budget cuts are coming. no department will be spared. public safety, schools, you name it. 15% budget cuts seen over the next six months alone. we have seen at this emergency shelter already today seen migrants leaving. they don't like this place. let me tell you about the cuts. already what we're seeing is new york city taxpayers have paid $1.45 billion this year, 2023, to take care of migrants. paying for food, medical care, paying for shelter. you name it. now the mayor says over the next three years they will be paying $12 billion to do the same. big concerns about that. the mayor now saying in a statement we continue to call for meaningful help and a decompression strategy from state and federal partners. it is not fair to asylum seekers and not fair to long-term new yorkers. meanwhile the push to get migrants to work with a syste

i'm kayleigh mcenany, joining me is gerri willis, host of kennedy saves the world podcast, kennedy, heritage foundation's kara frederick and pete hegseth. we saw a massive anti-israel protest yesterday and protesters chanting from the river to the sea, an antisemitism slur. they accused president biden of supporting genocide. >> biden, biden, you can't hide. you are supporting genocide. biden, biden, you can't hide. you are for genocide. biden, biden, you can't hide. you are funding genocide. >> kayleigh: stunning level of ignorance. president biden himself was heckled in new york yesterday. [screaming] ceasefire in gaza. >> boo. >> president biden: let her go. no. no, don't, let her -- it's okay. >> kayleigh: given the outrage on the streets and college campuses, it should come as no surprise the president's response has caused a rift among demp accurates. a new poll finds 46% of democrats disapprove of handling of the war and many demand biden call for a ceasefire, israeli prime minister netanyahu made it crystal clear that won't happen. >> a ceasefire with hamas means surround to hamas an

gerri willis is live at the roosevelt hotel where the city is housing migrants. ternoon, bret. the city says they're going to be spending $12 billion in taxpayer money the next three years. that means cuts for services for regular new yorkers. let's take a look at those nypd budgets over the next fiscal year. the nypd will have 132 million slashed from their budget. that includes $42 million for new recruits. it's not just the police. it's also the department of education getting a $547 million hair cut. the ndny, social services across the board, seeing big-time cuts. now digging in to the nypd for a second. over the next three years, you'll see a 13.5% personnel cut for police. that means fewer guys and women on the beat walking the streets, keeping people safe. that means there will be fewer than 30,000 police officers working in new york city. i want to compare that to 2019 when there were 36,000. here's the mayor. >> for months, we heard me talking about the fiscal challenges of cities facing the crisis have skyrocketed. places great strain on our budget. we'

gerri willis covering retail sales expected down 3/10 of a percent retail sales ppi expected up one thenno retail sales for the month, up 2.5%, that compares with september reading 3.8% gain, month-over-month, 0.1% i believe that is a gain with expectation that would it fall 0.3%. and auto sales really point 1% increase was expected to be flat. ppi let's go to inflation, this is your prices paid by wholesalers year-over-year for the month 2.7% gain compared to 1.9% that is a sign of inflation. prices paid by wholesalers, but for the month, october, down.5. 0.5%, food an emergency core, 2.4% gain compared to expectations of.3%. and year-over-year.1% compared to expectations of 2.7%, so we're seeing strong inflation numbers here. it looks like we're seeing continuing spending by consumers been a big question how strong consumers would be, these numbers look like very positive. for the holidays season. >> yesterday don lufkin was on said there is going to be a negative number in near-term exactly what we're getting ppi fo october down 5/10 of a percent interesting to see movement the dow shot

the most with one expediting the transfer of students if they feel threatened doctor schools, gerri willisivate orthodox jewish university in new york city. >> that is right here at ucb university students are preparing for the march for israel in washington, d.c. they are expecting a very big crowd, 2500 students plus professors and alumni they will go down to washington on 44 buses, as you were just mentioning, the nation's largest jewish university is opening its doors to students who feel unsafe even from the nation's most prestigious campuses they are fast tracking applications which are up 65% for the next semester half of those are transfer applications, listen. >> it is a safe space for discussing the israel conflict and i feel very supported as to all the students that i have many friends and relatives that are in college is that the country and they feel less safe. >> the president has formed a group of 100 colleges and universities a very diverse set some protestant and some catholic all standing behind the idea of protecting jewish students. he said forming taskforces as we see

to cope with the cost of caring for all of these migrants gerri willis' life outside of the hotel hereity with some migrants are currently staying. a whole lot of them what are you seeing? >> that is right centro we are seeing huge cuts for all new york city departments as you say the big number $12 billion. that is the amount that is going to micah richards instead of other spending for the city let us talk about that and why pdd . hundred and $32 million that's the amount nypd will be cut over the next fiscal year and 42 million of that will go to classes for recruits. now we are seeing other department cuts as well for the fiscal year and the department of education will be cut by 547 million in the fire department will become by 74 million in social services 322 million. it really affects every bit of the city's budget. what does this mean as a practical matter? when it comes to the dash 3.5% cut -- over the next few years through 2025 we will see some huge cuts to personnel. beyond that as you mentioned there will be less than 30,000 police officers on the streets walking the beat

gerri willis takes a look at the numbers tonight. >> that's right.ard and the university of pennsylvania those two schools recent analysis by open the books finding that they have received billions of dollars in taxpayer money over the past five years. the analysis showing that between 2018 and 2022 harvard received over $3 billion in total federal payments, which includes federal grants and contracts while u. penn received over $4 billion in payments. harvard and u penn are now collecting more on government contracts and grants than they are from undergraduate student tuition. now the two schools have faced criticism for their response to anti-semitic event on campus. they are also receiving billions in tax breaks due to their nonprofit 501(c)3 status. many public and private universities, including the entire ivy league are not subject to federal income tax. essentially, universities are only taxed on their payroll and the net investment income of their endowments. and let me tell you those endowments are sizeable. harvard has the largest endowment

in the meantime we have a lot of economic data building up to hearing from him that gerri willis will hey, gerri. >> reporter: charles, wall street continues to play the fed guessing game and you must continue to play the economy guessing game. the state of the economy is the banks. in addition of banks going under there is lots of fresh data with lots of fresh flags. for only the third time in the last 50 years commercial bank credit has declined by more than 2%. the other two times, take a look at this the peak of the dot-com bubble and the aftermath of the global financial crisis. they have the shrews report, chief lending officer survey, it hints at 90% chance of recession. bank stocks continue to struggle after bouncing off a double-bottom here and here. we're seeing that the banking etf failed at the trend line. all eyes on 2024 and how much the fed will have to cut rates. guggenheim says the rates will be cut below 3%. that is far lower consensus than wall street, five, 25 basis points cuts to 4.25% next september. we'll actually have to wait to see what happens. charles: i'm h

gerri willis is with me. how many offices will be left? nd that may sound like a lot but let me give you the numbers. in 2019, there were 36, 289 and in 1995 there were 37, 578 so you can see it's a big hair cut. look, overall, over the fiscal year, police department will be cut by $132 million overall. that includes 42 million for the new nypd classes and i have to tell you, this is going to hit every single department. the department of education will get cut by 547 million. the fdny will get cut by 74 million. social services will get cut by 322 million. these are big changes. now, let's dig down into the nypd. we're saying over the next three years and into 2025, a 13.5% decrease in headcount, in personnel, a huge cut and what does that really mean to people? well we talked about the fact there will be some 30,000, just under 30,000 cops on the beat, walking the street to new york city, and that means we're going back to the 1990s. the david denkins era that's what we're looking at when it comes to the numbers. i want you to hear from t

gerri willis with me. what were the agents doing?dividual agents, this is the industry, right? some $2 billion they may have to pay, in fact. so what hay do, that 5-6% commission rate, they've had that despite if rising home a prices. sellers are tell you if they don't pay the commission, that their listing falls mysteriously to the bottom of the pile there's even new research showing that. well, in the case that could change the way americans buy and sell their homes, a federal jury in kansas city, missouri, found the national association of realtors and two with the large residential real estate companies engaged in a conspiracy to the inflate commissions awarding $1.8 billion in damages. listen. >> this is a day of accountability. and this money's going to be returned to the homeowners. and it's just, it's the a straightforward refund case. every homeowner that overpaid for a buyer's commission, they get the money back. and our hope is that the national association of realtors will quit engaging in this illegal behavior. >> report

. >> joey: gerri willis fox business alive at the american dream mall in east rutherford, new jersey, what's going on? >> hey, guys, brian, carley, joey, good to see you guys. black friday the biggest retail shopping day of the entire year. the doors here just opened. and what are those shoppers going to find in the one thing they want? discounts. with prices rising and student loan payments resuming, retailers are relying more than ever on promotions and early offers to stay afloat this holiday season. best buy, macy's. walmart, all these retailers are already offering 30% discounts just on black friday. now, while the national retail federation's forecasting sales growth of 3% to 4%, taking the total to 966 billion, that gain marks the lowest rate of increase since 2019. look, even toy makers like hasbro and mattel saying sales so far this year are down 8% year over year. think about that. toys are not selling. but don't count out the self-gifters. there is a new survey out shows people will spend a lot on themselves this year. people coming in the front door likely to be 64%. buyin

wills will with more on the report -- gerri willis with more on the. >> reporter: report that's right. tallies coming in below consensus across the board. headline number 12.3% from 3.7. core, 4.0, from 4.1. there is so-called super core which is jay powell's favorite gauge. it ticks out housing from core services. that was 3.8% from a year ago, north of 6% back in 2022, think about that, and .2 from a month ago. as you can see markets breathe a sigh of relief but these numbers are still high and well, they could still go higher. the nfib survey sees the percentage of firms planning to raise selling prices rose to 33 in october. that's the highest since november of 2022. the percentage of firms raising selling prices, actually raising selling prices hit 30. that's the highest since may. meanwhile the crunch the fed was hoping for is happening. bank lending is negative year-over-year. that is never good news. you can see this plummet here. there is an eruption of companies mentioning weak demand on earnings calls. the bottom line, look at this, that's crazy, the bottom line here the cp

and canada, but gerri willis has been a breaking the news i all day, she's live more. what's happening now? >> reporter: so this whole thing is kind of turning around the way it's being analyzed. it's now an incident that occurred at the new york-canadian border, as a you say is, right on the rainbow bridge there. high-level law enforcement sources are now telling fox news that two men in a stolen car were trying to cross into canada when they started driving erratically and went up on the median to avoid cbp, canadian border patrol, officers. that's when they crashed at a high rate of speed, and the car went up in flames. this killed the two men who were inside that car, and the explosion so fierce, so big that authorities immediately thought it was a terror attack. we have an eyewitness account of this very dramatic. listen. >> at first, i thought it was an airplane. it looked like slow motion. and i said, my god, it's a car. it's a vehicle, and it's flying through the air. he hit the concrete barrier probably right at the signal, god knows how many thousands of feet

here to break it all down gerri willis. reporter: that's right, charles, pinstripe thursday. more than a year ago bloomberg poll of leading economists agreed 100%, 100%, a recession would occur in the next 12 months. they were wrong but talk of a recession is on again. ironically many predicting imminent recession based on leading economic indicators report from the conference board. this is the report that had experts convinced last fall and there is a direction correlation and lei direction and recessions freefall, freefall, freefall. take a look at that. there is a note that every recession follow as peak in the fed funds rate and uninversion of the yield curve. take a look at this. there are new fink gelled correlations when the unemployment rate crosses above its 24 moving average. it just did again take a look. interesting whether i while most of the street sees recession goldman is even less convinced than it was earlier this year. by the way the fed is always concerned about the sentiment the main street. last month