tv Lou Dobbs Tonight FOX Business August 1, 2019 4:00am-5:00am EDT
>> good evening another major victory for president trump, and another blow against those trying to over throw his presidency. a clinton-appointed judge, slowing out a democratic national committee lawsuit alleging collusion between trump administration and russia. president saying, the witch-hunt ends here. president absolutely right about federal reserve chair powell. powell does not know what he is doing or at least saying. when interest rate cut was announced today at 2 p.m., the market remained steed -- steady, sold off 36 minutes later when powell insisted it was not a
trend but just an adjustment. here is his rather ignor ignoret statement about interest rates. >> to ensure against down side risk to provide support to the economy. if those factors are pushing down on economic growth, then to support inflation. we think it will serve those goals. but we're thinking of it, essential well -- nature of mid cycle judgment. lou: a mid cycle el anxiety jus. dow sold off and nasdaq down 155, s&p fell 45, edward lawrence with more on the story from the white house. reporter: the federal reserve cut rates a quarter of a point. but not everyone in the room who was voting was happy about it.
there were two decenters, boston federal reserve president, and kansas city federal reserve president, they thought that fed fed funds rate needs to stay where it was. in end federal reserve chairman powell said it was nothing within u.s. economy domestically that called for a rate cut. to your point this afternoon, federal reserve say the in light of implication of global development, they are making the rate cut, that would include other central banks in the world siding stimulus to their economy. fed to chairman saying that weakness in manufacturing and business investment goes to perception that tariffs are bad for the economy. he adds it will not be a be a lg period of rate cuts but also not one and done. >> do that if you saw real economic weakness and you thought that federal fund rate needs to be cut a lot.
that is not what we're seeing, we're seeing it is appropriate to adjust policy to a somewhat more accommodative stance overtime. reporter: at one point powell seemed to take credit for the economic expansion, keeping that going, he said that the fed or as fed moves to more accommodative policy, they see low unemployment. raise -- wages rising and consumer spending. >> there is no reason that expansion can't keep going, there is no sector that is booming and therefore might bust, have you a fairly well balanced, in a sense, economy. reporter: president wanted a half percentage rate cut this afternoon, tweeting, what the market wanted to hear from powell and federal reserve was this was beginning of a lengthy and aggressive rate-cutting
cycle, keep pace with china, and other in the world, as usual powell let us down. experts or some say that waited too long for that, they believe that federal reserve should have corrected the mistake they made last december, according to at least st. louis federal reserve president, where they had a rate hike, they waited 7 months for this rate cut. lou: he made one mistake, high cut rates then started -- he cut rates then started talking, ed lauren thank you. >> there are a number of breaking development from middle east, trump administration has new sanctions to iran's top diplomat tem temporarily reservg part of the obama era nuclear deal. new sanctions again iran's
foreign minister, saying he has been complicit in tehran's behavior. while new sanctions added, others waived. fox news confirmed this trump administration plans to announce extent shin oextension of 5 waic power tomorrow and to be reissued for another 90 days. >> white house tonight says it is closely watching movements of chinese authority in hong kong, after weeks of protests there have been a gathering of chinese troops, at the border with hong kong, including armed riot police in hong kong train stations, communist party
accusing united states of helping to incite the demonstrations, they started two months ago. >> joining us from white house. national security adviser john bolton, great to have you with us. let's starts with the sanctions, again foreign minister of iran, following their . what are we doing here. >> we would guard his activities. frozen any assets in u.s., and restricted his activities those of people who do business with him.
it is a significant decision, that sends signal that we consider zarif. zarifan illegitimate spokesperson for tehran. >> without any question. we designated quds force and islamic revolutionary guards, we're concerned with more than just iran's aspiration for nuclear weapon. lou: our pentagon reporter, and producer have confirmed "washington post" story, that the trump administration has waived 5 nuclear related
sanctions again iran. after all of their aggressions. this is hard for me, at least, to square up immediately. >> well, let me see what i can do. i think the idea here, we're watching those nuclear activities very, very closely. they remain under daily scrutiny. and it certainly the case that nothing that we see that contributes in anyway to the possibility of iran nuclear weapon capability are we going to per me. this a short 90 day extension, this is intended to be under constant observation, i keep my eye on that spot. lou: i assume you are the designated observer of that 90 day period. watching also closely as always, north korea. which launched against two short range ballistic missiles.
provocation, provocation that some believe is directly tied to the trade talks with china. which have ended at least to this point without resolution. what is going on there? >> i think on the trade talks, we'll be expecting the president will have a chance to hear from lighthizer, and steve mnuchin tomorrow, they are on their way back from shanghai tonight. next negotiation is not scheduled until september, we'll have a better chance to speak to that after we heard from the negotiators. i will say, i think that the president taking this really unusual step of meeting kim jong-un at the demilitarize zone, on june 30, has against opened door for north korea to make a strateg strategic decisio give up nuclear weapons,. now the firing of these missiles
don't violate the pledge that kim jong-un made to the president about intercontinental range of ballistic missiles, but you have to ask when the real diplomacy the begin. as kim jong-un again, said, on june 30, he was prepared to do, we're stal still waiting to heam north korea. lou: since that summit, 5 weapontivity tests, and no deals reached, process goes on. we're looking at a build up of chinese forces on the border with hong kong. does this imply in your judgment the prospect of military force to be used by beijing against the demonstrators in hong kong? >> i don't think it is accidental, i heard rumors from friends in region about this. and people expressing concern. i would say i hope that people who remember what happened after
tiananmen squir square in june f 1989, take that into account. i think that china made a commitment from the declaration to give hong kong give years of separate status after the hand over. if china does not offer its international com commitment tht sends a signal for other possible commitments they might make in the future. lou: john bolton thank you. >> thank you, lou. lou: there is word that the son of osama bin laden is dead. a number of news outlets cites u.s. officials confirming death of -- hasma bin laden. in february. the state department, began offering a $1 million reward for information leading to hazmarcmn
laden. up next, anti-trump cnn, fails to mention robert mueller, the special counsel, his report, the president's exoneration. that is after the mueller disastrous testimony under cut their phony russia collusion story line, things got complicated at cnn. we take up that and a great deal more with attorneys victoria tensing and joe digenova. >> ugly scene in cincinnati. during a major league baseball game, after the break. stay with us. here you go little guy.
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lou: president trump weighing in on twitter after radical dimms debate last night, saying: if i had not won 2016 election we would be in a great recession, depression, right now. the people i saw on stage last night, you can add in sleepy joe, harris and the rest, will lead us into an economic sinkhole, the likes of which we've never seen before, with me, only up. president just tweeting this
about cnn's poor performance last night, saying, very low ratings for the democratic debate last night, they are desperate for trump. joining us tonight, former reagan white house political director, fox business analyst, great american, and savant. ed rollins. >> i grew up near shipyard town vallejo. lou: near where? >> san francisco and berkeley. >> i went through that berkeley movement and hate ashburyy what have you, i thought i was asking that with former hippies promising everything lead by zodiac girl at the end. lou: marianne williamson. >> now the big star of the stage. lou: new age. >> new age. lou: he said she not new age, but whatever. >> there is a dark side to all of us, and donald trump is ultimate dark side, my favorite, see said, talking about health care reform, all we have to do
is get rid of sickness. lou: you can't argue with that. no less achievable than say a hundred trillion. >> everything last night was tax the rich. let everyone in the country for free, given free education. lou: you take them more seriously than i do. there is a -- there is just not a sufficient number of americans who lack the understanding that a hundred trillion dollars and destruction of the american economy is a worth while pathway to nirvana. >> it was a minor figure compared to by end of night, if you added it all up, once they call moderates, those -- >> those radicals add faster than i did. >> they are really left wim win. government takes charge, and doles it out. lou: looking at senator warren, senator sanders, real quickly. they sort of assess things last
night. >> medicare for all is comprehensive, it covers all healthcare needs, for senior is citizen is will include dental care, hearing aids and eyeglasses. >> you don't know that. >> i do know, i wrote the damn bill. i get a little bit tired of democrats afraid of big ideas. >> you know, i don't understand why anyone goes to all trouble of running for president of united states just to talk about what we really can't do and should not fight for. lou: you know, i thought that was rather mannered and orderly. and you know people tried to make much of it i thought they were actually very calm. >> i thought it was frightening to me, honest. i was thinking back fondly on hillary clinton, you know how much i despise hillary clinton. as i watch this, idea these two people bernie and eli elizabeth
warren would be serious candidates is astonishing. >> how about sleepy joe biden and kamala harris, do they suit you better. lou: >better? >> no, they don't, my fear, i don't' to get come little bit -- complacent, but i don't think they can sell to the american public. i believe that trump could kill any one of them. lou: the president is trying to deal with a federal reserve, we just watched powell. the head of the fed, fulfill the president's description. an act of incompetent, failure to communicate clearly and reasonably, saying that a quarter basis point, think about it. they come out at fed at 2:00 sharp, announce 25 basis point cut. 37 minutes later, we're in
middle of a market sell-off because the fed chairman said this was an adjustment not a trend. this is preposterous what he did. >> reality, there should have been a huge market, not being an economist, i assume when he made the correct decision of lowering rate there would be a boom, i think his lack of confidence and almost like he was mor forced to make this decision, this correct decision. lou: the market -- investors had already been aware of 25 basis point cut, they knew there was not going to -- they knew. they assume there would not be half a point cut. so they had discounted what did happen. they didn't discount the fed chairman being silly enough to talk about adjustment instead of trends and having a databased rational empirical approach to rate management. to think about this fed. they have the idea suddenly they
are smarter than the president, they are smarter than the markets and all of the investors who make up that market. we have folks running here, who happen to agree. as much smarter than market, that is pure nonsense. president right now. he is on a heck of a streak. >> a great week. lou: great two weeks. >> yes, my sense, normally presidents go away for month of august and disappear. a lot of junk happens, i think this president will continue working as hard as he does. lou: i thought, the other day it was interesting. president gave a glimpse to his nature, he started talking about he preferred to be at white house, working. that really is who he is. >> it is. lou: his work ethic is a standard that other presidents will whine about for decade to come, he is going to make them have to work. the expectations are charging
lou: the china-u.s. trade talks with ended in shanghai. representative lighthizer and secretary treasury secretary mnuchin, on the way back to the united states joining us tonight to assess where we are. in those talks. where we are geo politically. and militarily, we're joined by dr. michael pillsbury, from hudson institute. and michael great to have you with us. unresolved trade discussions and
negotiations. next stop september some time. your thoughts about where we are with china and with their now movement today russia militarily, with exercises and creating a real alliance. and our pros ten ten pecks goin- prospects going forward. >> i try to keep track with chinese side of things what they say about president trump and strategy, from the beginning they have been very surprised about how tough president trump circumstance they havis. they have been told by previous presidents we'll give you a break, we know you are a fragile flower. there was a niceness toward china, but trump has reversed that. and chinese are praying that a democrat, ideally for them joe biden, will win in 2020.
they can be safe from all -- >> they already know his price? >> no, but they don't like these talks, it is a success, the president just to keep the talks going, that is harder than you might think, chinese are accused of billions of dollars of theft and technology core everything n against our companies and other country. what seems to be happening now from the chinese side, american side is very secretive, bob lighthizer is one of the best secret keepers there is. but the chinese side, they say they are upset more now, they thought that the talks would end up in an agreement that was only what they call guidelines. not legally binding. that you could sue chinese companies in court. or that you could -- --
>> you have to keep your word to do what you say. that would be very difficult. that does not auger well for anything substantive to happen for some time. the president may well be right that nothing could happen after election of 2020 have been decided. >> yes, but trump has already had quite a impact on chinese economic growth, i, agree with president when he said several types now that if hillary clinton had won, chinese would have already surpass our economy or during her term. but it is not going to happen on my watch, we see a slowdown in china. if it is -- lou: it is a significant slowdown. it an economy that based on previous metrics, offered by the chinese government, you have to assume it is contraction because they have been lying throughout,
about their numbers. >> well, i think they blame president trump for that. they see the companies leaving. the decoupling phenomena. investment decreasing. there is some chinese who are panicked, they want to make a deal, those are the ones if they can get president xi jinping's ear, they will say let's cut a deal now, but i am afried the hawk -- i am afraid the hawks in china are banks on joe biden. lou: pridde predator, their ecoc system is built on chumps, chumps who pre previously occupd the white house. and fools who run corporation in this country given away their gasic -- basic intellectual property. this system, that is allowed its
itself to be pillages by the chinese stealing hundreds of billions of technology and military secrets every year. >> we'll see if some other democrats tomorrow night attack joe biden on this joe biden several types said, give my a break, they will never surpass us, they are weak, broke. it is a vaimpl strange view, nol democrats share, that some are testify. lou: which would you consider tough. >> a real super hawk is sharon brown. lou: brown? marci is tough. >> i think that chinese are wrong, i told them that, president trump's chances of winning are about 99 percent%, the chinese are hearing whispers from the democrats just hold on, we takeover the white house,
there will be end of this trade friction. lou: if they don't catch on quickly, their ears will be ringing because this president is not going to put up with their nonsense. it will get worse and worse for them. he is right. >> companies leaving china, that is serious, their whole economy was built on bringing in foreign visitors. lou: you know -- >> then ripping them off. lou: even apple, tim cook had to bite his knuckles say we want to build in united states, why didn't you for last 20 years. >> a good champ example i thought of presidential leadership and%ration. persuasion. lou: i agree. thank you so much. >> don't forget hong kong. lou: we don't, as we've reported chinese, plarc ila is now movins forces to border with hong kong, they are not there for show. we appreciate it.
thank you dr. michael pills pil. >> thank you. lou: a huge fight break out between reds and pirates after reds pitcher garrett ran off mound changes pirate dugout, and punched a player, on his own. tension between the two teams has been rising, in april they were involved in a bench clearing skirmish. you have to hand it to the pitcher to take the whole team, then he got a little reinforcement. we would like to hear your thoughts on this share your comments, follow me on twitter @loudobbs, follow he on facebook. and instagram. >> up next attorneys victoria toensing and joe digenova joining us with more on what president trump calls the end of the russia witch-hunt, stay with the russia witch-hunt, stay with us, we'll be right b
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eight hours for what? oh, tell me what i got i've got this feeling that time's just holding me down i'll hit the ceiling or else i'll tear up this town ♪ lou: a clinton-appointed federal judge dismissed a lawsuit. over hacked democratic national committee documents. president trump reacted on twitter saying. the judge said that dnccase was entirely divorced from the facts, another complete total vindication and exoneration from russia wikileaks and every other
form of hockey perpetrated by dncradical democrats and others. this really big stuff. from a highly respected judge appointed by president clinton. witch-hunt ends. does it? wow. half of house democrat ignoring fact he was exonerated and vindicated by special counsel robert mueller last night, but there are 116 of 235 house democrat come out publicly in support of impeachment that is two shy of majority. if you watch debate last night, you would never have known about the final report of special counsel, his disastrous testimony. critics were quick to point out that network failed to bring up the think is of impeachment. -- the subject of prime minister or robert mueller's nam-->>s imt mueller's name.
43% fewer viewer tuned in last night than the opening debate in june. cnn's losing ways, go on. joining us now night victoria tensing. joe digenova. founding partner of the digenova & toensing law firm. and i want to a, is the president right? has the witch-hunt at long last ended. >> no way. not at all. you know what the democrats are doing? nadler is straddling legal stand so much, i surprised he has any cajones left, we're said we'll impeach not up people, but he had to do that to go to court, he is trying to get grand jury information from bill barr, you can't just say to court, i'll have the attorney general break the law. only issue here could argue is,
we need it for impeachment. but he does not top sa want to . lou: joe, is it conceivable that judge would order the breaking of a law. >> not in these circumstances, only case in history that relevant is u.s. versus nixon when supreme court ordered president to turnover tapes, not -- not orders to give testimony. in this situation,. >> no criminal trial under way. so there no basis for turning over grand jury testimony. a threatened impeachment proceeding is not sufficient to give them anything, if you consider it a judicial proceeding, i don't believe that the courts will, they will not turn it over. lou: yeah, and u.s. tappe attorw conducting a criminal investigation, not just a review victoria, that sounds like
reason for hope, dairy hope? >> yes -- dare, i hope. >> yes, please, we've been telling you, that is was going to be a criminal investigation. but what -- durm. lou: you did not say it would be this long. >> have patience, lou. here is ha he had to do, he had to interview the witnesses people who are cooperating witnesses, and i am sure there are a lot, should be interviewed beforehand, you don't want to throw someone in a grand jury cold turkey and ask question, as a prosecutor, you want whole range of information they have, maybe they say something or bring something up and more investigation needs to done before grand jury, unless it something who is subpoenaed and will take the fifth, prosecutor -- >> so. >> spent time to interview him. lou: is this process, joe, moving quickly, slowly, as it seems? is there any reason for us
watching anwatching listening t, that we're actually going to see the securit scoundrel who made p leadership of deput department f justice and fbi will be held accountable. >> yes, and guy any traditional standard this is moving with lightning tweed, durham has interviewed i understand dozens of potential witnesses and moved to setting up a grand jury, it will happen. i will say, i thinka that people need to be reasonable in the expectation of potential criminal charges, this is a very difficult area of the law to bring criminal charges where ghfgovernment officials claim ty act in good faith. we may see initial cases that are not brought, but durma durhs focusing on a conspiracy that
involved defrauding u.s. government of faithful service of these agencies, i think he will get too, the point of bringing charges it is not going to happen quickly. and there are going to be some instances where we is not going to have enough evidence to charge even pretty big people initially. but some of these players will be involved in more than one series of criminal investigations, if they get a pass in one instance they may not get it in another, it will be rough, it will be difficult. but, believe me, bill barr is not going to pass up the opportunity to do the right thing. >> how long did it take mueller to find nothing? 2 1/2 years. lou: well, i would not even -- i can't imagine making comparison between mueller's enterprise expa oenter and thatof john dur. i want to ask you this. is there any reason for us to expect anti explanation and
accounting for why hillary clinton could be exonerated by the fbi, even by the special counsel as well, even as we're watching evidence disappear and be disappeared, immunity given away like hot cakes to the staff of hillary clinton. and meanwhile, three year long investigation to of president of united states, that began as when he was a candidate. >> lou, i predict that hillary will be by the way side, the focus will be on what happened regarding fisa other investigation of trump campaign, joe may differ, we rarely differ. >> i have no idea if they will give any further explanation of what happened to hillary, i don't know how the ig could not do that given the centrality of comey's decision making to
everything that followed, i think as a result of investigating all this cia, fbi cover-up stuff, and effort to frame president trump, i think they must explain how the hillary exoneration fit in to that broad conspir conspiracy te donald trump, i think there will be an explanation. >> i think that lou still wants hillary, punished right. >> that will never happen, they will not go back and try tony to indeed her. lou: we were doing so well, joe digenova thank you so much and victoria toensing thank you. >> thank you. lou: on wall street stock closed lower following fed's decision today, to cut interest rates by a quarter%. dow down 3 34 it plunged after chairman of federal reserve decided to announce this was a mid cycle adjustment instead of
a databased reaction to a economy and market that required a trend lower. s&p down 33, nasdaq down 98, volume pou 4.7 billion shares. at 2 p.m. the market remained steady, did not begin selling for 36 month u minutes until jee powell made the announcement of the adjustment. then they fell. a reminder to listen to my reports 3 types a day. >> up next, more disastrous language from jerome powell. how long will the president put up with this? we take that up and more right after the break. stay with us.
talking about a mi mid 6 cycle adjustment instead of a data driven decision. >> reminds me of the old saying silence is golden. >> when powell breaks silence, a lot of goal gets lost. >> right. what we have -- is a failure to communicate. not too longin ago they were talking about. lou: "cool hand luke." >> 3 rate hikes, 2019, and latest move to cut rates, there should be more down the pipe. lou: the president, right now looks like a genius. he looks like a genius because jerjerome powell made him look , powell made mistake after mistake, today he did the right thing and still screws it up, that is a man with a problem.
what -- what is the fed going to do? you can't -- the president talks about firing the man. it looks like the graceful thing for him to do would be to resign? >> right thing might be for fed to listen to the market. not only did stocks sell-off but we had a drop 10-year treasury yield, even short-term treasury yeleyield moved lower. >> you know this -- there is by the way, some in the aghast business press think that president should not be -- they don't understand the basic principles of free enterprise market. >> you have to pay attention too
as many variables as possible. you have to look -- listen to prices, look at the labor market and business sales, which by the way that slowed significantly over past year. a year ago they were growing 6%, now growth 2%. that by itself, is strong reason for several low rate cuts. >> as you say, looking at treasuries alone that is a good guide. you know, and by the way, if i may just whisper this to federal reserve, particularly mr. powell, you know without inflation, you don't have justification for any kind of rate hike, ever. that goes to december, that goes to last october. >> scary thing, in you have 1. 5% up plagu inflation with 3.7 t jobless rate, what will happen too business pricing power once we have a recession and the unemployment rate climbs higher. lou: and what will it take to
get significant wage increases that last, endure? the fed you know, usually such a bunch of liberals, they have duel responsibilities, we have got it. >> low inflation, give us a once in lifetime opportunity, you see how low we can take the unemployment rate before it is inflationary problem, i have a funny since that unemployment rating brick underate break unde have difficulty with price inflation, pee people need jobs. >> by the way, 4% growth without inflation is doe able, john loss
lou: not to put too fine a point and the unfortunate mistake by the federal reserve. president trump blasted jerome powell. he said what the market wanted to hear was this was the beginning of an aggressive rate-cutting cycle that would keep pace with china and other countries around the world. as usual, powell let us down. it's getting old, the fed chairman making mistake after mistake. byron york.
tom coleman, tammy bruce among our guests. follow me on twitter, like me on facebook cheryl: it is 5:00 a.m. here are your top stories at this hour. the gloves came out in the second round of democratic debates with all the candidates taking aim at joe biden. did he do enough to fight off the charge? we're breaking down who stood out, who spiraled out and who will su survive to see round the in september. lauren: president trump hitting back at jay powell after the fed chair delivered the first rate cut in a decade with additional rate cuts in limbo. cheryl: so much for netflix and chill. how netflix is putting couch potatoes to the test. lauren: adulting, we all do it at some point but at what age. the