Skip to main content

tv   Making Money With Charles Payne  FOX Business  April 5, 2019 2:00pm-3:00pm EDT

2:00 pm
coast. i will see you at 4:00 p.m. eastern time with melissa francis at 4:00 p.m. we'll have steve fishes. that does it for here. now to charles payne. charles: i'm charles payne. this is "making money." stocks having ridiculously good week. up again after government reported higher rebounding in march. one glaring problem. i will tell you what it was. big news on the trait front. as talks continue in d.c. president trump says a deal could happen in a matter of weeks. we have a live report for you. president trump set to land in california this hour, as he puts off plans to close the border but he doubles down on his threats. a new survey show americans don't like social media, calling it divisive and threat to privacy. also 70% of us use it every day. what a paradox, what a country and what a show.
2:01 pm
all that and more coming right up on "making money". ♪ charles: so the new job numbers out this morning for march showed a real solid growth in the united states, 196,000 jobs added to the economy. wages continue to soar especially for blue-collar workers. the unemployment rate held steady at 3.8%. only because 124,000 people left the labor force. the weak february number revised up from 20,000 to 33,000. president trump weighed in before he headed to california. take a listen. >> the economic numbers just came out. they're very, very good. our country is doing unbelievely well economically. we have a lot of very exciting things going on. a lot of companies will be announcing shortly they're moving backpack into the united states. they're coming back. they want to be where the action is. charles: with reaction moody's
2:02 pm
managing director john lonski. laffer center senior fellow, brian dimovic and john luna. he is new york city salesman every time they hype it up a little bit, when he said we're doing unbelievably well i think that is appropriate how many jobs are being created month over month and how wages are going up at this part of the cycle it should be done by now. >> you're right. if we make it through the month of june it will be a record long economic recovery. never before in u.s. history have we had a economic recovery that lasted 10 years. we're still creating jobs at a healthy pace. that is tremendous. 3.8% unemployment and yet inflation risks remain very well-contained. charles: brian, that is the thing a lot of people cannot understand. even the federal reserve. they can't figure out why they haven't been able to inflate certain parts of the economy and
2:03 pm
why do you think we're still chugging along like this? >> we had a great corporate tax cut in '77. you take the rate from 35 to 21, of course it will be tons of new hiring and new corporate initiatives. i found very interesting part of the jobs report increase in education employment. this means that people are so confident about this economy, they will acquire more skills. it's a really positive report. charles: rob, the markets taking it in stride. not going crazy per se. it is hard not to argue from wall street perspective, overused cliche. this is a goldilocks kind of number, isn't it? >> that is what we've been saying for a while, charles. 102 consecutive months of job growth. the big thing, what we've been hearing from the fed. they're on the sidelines. we have unemployment at 3.8%. valuations are good on the market. look at the 10 year back down to 2.54%. no question why people are rushing back into stocks,
2:04 pm
charles. charles: there were parts that bothered me. people leaving the labor force. how do you reconcile the notion we have 7.6 million jobs open and almost 200, a quarter of a million people leave the labor force? >> i noticed that in the report. this might be related. there were a drop of number of people age 55 and older working according to the household survey of employment. who knows in part this might be -- charles: old school attrition? that is a big number though, right. >> that is a big number. it fluctuates a lot. it is seasonally adjusted. brings attention to the fact that one of your other participants alluded to, some people feel they don't have the skills needed for a modern-day economy. perhaps this reflects some problems with education. charles: brian, is that, is there something else that's happening here? i mean we're celebrating this and again i think president trump when he says we're doing unbelievely well was spot on, what else should we be kind of
2:05 pm
concerned about and focused on here? >> there is no question we have to be concerned about labor force participation. it is still down, four, 5% from its peak in the early 2000s? that is unconscionable in the american economy. there is a wealth effect. if baby boomers want to retire early because the stock market is doing great, that is terrific. we should not kid ourselves we have to bring a lot more people back into this workforce. charles: but that said if you look at the data, brian, i know you do, over the last several years it hasn't necessarily been the baby boomers, their participation rate particularly in the early part of the great recession went up, working age folks 25 to 54, that is troubled spot? >> that is it what, i found interesting about this education figure. because in the great recession, lots of people went back to school because there were no jobs. now there is education employment increases meaning people want to go back to school to get skills. it is a more optimistic number than it was say in 2009. charles: rob, your thoughts on
2:06 pm
that? >> yeah i agree. i think that is exactly what we're seeing right now. someone was mentioning there is a skills gap and i believe that's true. the economy is significantly change from where it was 20 years ago. so that makes a lot of sense, charles. charles: it does, john, we can't keep whistling past the graveyard on the skills gap. these jobs won't stay forever. >> s&p 500 earnings first drop in the second quarter since 2016. prime labor force participation rate, those individuals between 25 to 54 years of age that was unchanged. probably older workers that dropped out. companies are encouraging perhaps some of these older workers to go ahead and retire. charles: companies start investing retraining workers. >> save some money, going with the younger workers. charles: should the companies be retraining workers, a lot of companies out there? >> they may be forced to do so, they find out there is shortage of available labor. charles: wages up 3%, year-over-year for the sixth month in a row.
2:07 pm
eight months for blue-collar workers. that is phenomenal. that is a renaissance. that is something we should all cheer. gentlemen, thank you all very much. want you guys to stay right there. our other top story, u.s. china trade negotiations. they moving closer to striking an agreement. but there is no plans for a summit juste with the latest. edward? reporter: charles, within the last 15 minutes the talks finished for the day. this was marathon session, 4 hours 45 minutes as the chinese come to agreement here. the rain did not cause any smiles to go away. in fact u.s. representative robert lighthizer came out to greet the vice premier. he got jokes, saying he didn't have an umbrella to bring here. the president says we're close to a deal. we're four weeks away from knowing if we can actually have a deal with the chinese. white house economic advisor larry kudlow adding to that, saying these talks built on the progress breakthroughs we had
2:08 pm
last week. >> we've gone further than we ever have before in negotiating some of the difficulty issues. in general, by the way. the scope of these talks is like nothing else we've ever had in the history of u.s.-china relations. these are very good things. reporter: the head the chinese delegation saying in a state-run newspaper there has been a breakthrough, a new consensus on text on the agreement to the text of this. now a big sticking point here is tariffs. the chinese would want the tariffs to go away, never to return. the u.s. would like to use the tariffs, stick them around, keep them around, to make sure the chinese follow through with this agreement. >> this is what president trump's trade negotiations are about. he wants that to be fair. he wants that to be reciprocal. he wants american businesses to have a fair shake when we deal with china. not have to worry if they do a deal they will give up the seed corn of their business. reporter: president donald trump saying there will be a summit
2:09 pm
with president xi xinping once the deal is finalized. if it does get finalized. it looks like it is moving more in the positive direction. in the letter given to president trump, president xi according to the chinese media said he would like an early conclusion to these negotiations. charles? charles: edward, thank you very much. bringing back the guys, john lonski, brian dimotrovic rob luna. i know you weren't a fan of tariffs as a weapon per se but interesting to hear jamie dimon of all people saying he wasn't a fan initially but he is glad now in retrospect we've done them and he thinks we'll get a pretty good deal. what do you think? >> i will go full end justify the means. if it turns out good a very good free trade deal for all this hue and cry for the last year it i will be worth it. charles: john? >> a globalized economy is not
2:10 pm
going to away. it is important we have fair trade, fair and balanced trade in possible. one other thing i want to add. one other reason we get very low unemployment and little if any inflation because the labor market is globalized. 3.8% unememployment rate today doesn't mean the same thing it did back in the 1970s. charles: rob, it seems pretty obvious wall street will cheer this. i'm not sure if there is sell on the news effect but at some point wall street will have to come back around to look at this deal. what do they need to see to make sure this is something different because a lot of people are opining already this is not going to be much more than additional soybean purchases? >> it is great. i think one other thing we're starting to hear out of acevedo of the wto, the trade deal depending what is included in china might come under scrutiny with some of our trading partners. that might be a wall of worry we have to cover there. we've been getting robbed for a long time trying to do business
2:11 pm
in china. you talk about negotiation styles. i think trump has been spot on with this we haven't been able to move the needle with decades in china. we'll need to see things, when you go into china you're not getting intellectual property robbed from you. those are the type of things investors want to see charles and i think, i personally see we'll some change in this, probably not exactly what investors looking for, sell on the news more tan likely but i think it will be a buying opportunity. >> i think trump recognizes globalization doesn't benefit everybody. because some countries are playing unfairly. not playing by rules of the game. to his credit he made this an issue. charles: right. i know this was fascinating several times president trump appeared on camera more conciliatory, more somber with respect to both mexico and with china. it is, i don't know if this is a president who is pivoting a little bit. it does feel to me that big
2:12 pm
business is getting in his ear having more influence and vice versa. there seem to be supporting his efforts even with stuff like pushing back with tariffs? >> charles, the president's demeanor sounds like somebody who is ready to shake hands with his negotiating opponent. i think they are actually close to a deal. the stock market is rising in anticipation of free trade. if it sells on the news the gains will already have been built in. charles: if it sells on news, i would be looking to be a buyer. then we get back to the focus of the conversation already. i will ask you about that, brian. over the last two weeks we have seen the atlanta fed look at this economy it is growing a lot faster than anyone thought it was when we came into the beginning of the year. >> the fed should really finance a boom. if there is inflation, there is no bar to having expansive monetary policy and low tax, low regulation, free trade environment. charles: you're okay with the fed lowering rates right now? that is an emergency measure but
2:13 pm
to give us as a little bit of extra octane in the recovery? >> i'm for the fed making sure there is no bar to the financing of a recovery. if we have a three, 4% recovery like we haven't had in years the fed has to make sure it is financed. charles: are you financed? you're a lot more of a purist, aren't you? >> i think we go ahead see how low we can take the unemployment rate before we begin to pay the price in terms of unwanted increase by price inflation. my guess why not take jobless range down to 3 1/2%? japan -- charles: why does the fed have to start a recession? >> futures markets says fed funds futures 55% of a lower fed funds rate by year's end if employment begins to peter out, employment growth, fed could cut-rates as early as september. charles: listen, rob i know president trump is criticizing the fed yet again today. he is frustrated he is upset. there were two rate hikes too
2:14 pm
many last year. but, we only have a minute left, 30 seconds i want to know from a wall street proper speculative should the fed take on more aggressive role not coming to the aid of quon my per se, hey, helping to make it move even faster? >> i think, charles, the president was right, right? everyone was laughing at him, he was saying fed, you're going too fast. sounded like q4 last year there would be no way we're on progressive steady increase of rates but all of sudden we have this dovish tone. i think we're right where we need to be with rates and economy will move forward where we're at right now. charles: have a great weekend. thank you. president trump will arrive at the border in 25 minutes as he threatens to put tariffs on cars coming from mexico if they don't help washington deal with flood of immigrants and flood of drugs. he tweeted a few minutes ago, we're soon landing in mexico. i'm sorry, california to look at
2:15 pm
a portion of the new wall being built on our southern border. within two years we will have close to 400 miles built or under construction, keeping our country safe. not easy when the dems are always fighting to stop you. blake burman is live at the white house with more. blake? reporter: charles it has been a bit of evolving threat from president trump but today he clarified his stance on the southern border. on issue of drugs, the president said he could put an economic penalty as he put it on mexico. thin on the separate issue of immigration, the president says likes what mexico has done over the southern border the last four days or so the president said should that change then he could put tariffs on autos. watch here. >> i never changed my mind at all. i may shut it down at some point but i would rather do tariffs. so mexico, i have to say, has been very, very good, you know that, over the last four days since i talked about shutting
2:16 pm
down the border f they continue that, everything will be fine. reporter: so the president says he could slap tariffs on automobiles but remember, charles, there is a whole issue of the usmca because as that trade deal was being signed simultaneously there were side deals signed as well that do not allow for tariffs to be put on up to 2.6 million worth of vehicles. out there on the south lawn, before the president left for calexico california i asked the president why he thinks he is able to put tariffs on vehicles considering there are those side deals. the president looked at me, said in his estimation at least, if he were to go down that route, it would quote, unquote supersede the usmca if the president were to do that, potentially at least major political fallout but that is road potentially much further down the road. as it relates to this moment right now, charles. the president is aboard air force one. he is set to land in calexico.
2:17 pm
that is 100 miles south, east, a little south of san diego there. he is going to a border patrol station, and the president will head to a portion of the wall that has been newly constructed. charles? connell: blake. charles: blake, thank you very much. i will talk to the former head of i.c.e., thomas homan who is always passionate and informative on this. president trump bucking tradition and calling the fed to cut rates. we'll delve into that more also. billionaires coming out of the woodwork issuing stern warnings to the american public about the very system that made them billionaires in the first place. from hedge funder founder ray dalio, jamie dimon, howard schultz they're pointing out the flaws but is there anything revolutionary about their potential solutions? >> if a democrat runs who resembles bernie sanders, who says he is a democratic socialist, donald trump is going to get reelected.
2:18 pm
♪ a business owner always goes beyond what people expect. that's why we built the nation's largest gig-speed network along with complete reliability. then went beyond. beyond clumsy dials-in's and pins. to one-touch conference calls. beyond traditional tv. to tv on any device. beyond low-res surveillance video. to crystal clear hd video monitoring from anywhere. gig-fueled apps that exceed expectations.
2:19 pm
comcast business. beyond fast.
2:20 pm
i thought he was with you? no jack! (sfx: piano plays "twinkle twinkle little star" tommy? (sfx: audience laughing) don't stop. keep playing. (sfx: pianist playing masterful duet) here we go here's the fun part
2:21 pm
2:22 pm
>> how many people in this audience believe that the u.s. government is doing well by you, your family, and the american people? raise your hand? how many? so, i would say the majority of people, correct me if i'm wrong, majority of people don't feel as if the country is meeting or, at a minimum, exceeding their expectations. charles: billionaire howard schultz warning that americans don't feel the government is working for them. just as jpmorgan ceo jamie dimon says the american dream is fraying. then there is a billionaire hedge fund founder ray dalio
2:23 pm
with his warnings last night that american capitalism could result in another revolution. so are they on to something? if so, what exactly is it? joining me fox news contributor liz peek and from "the wall street journal" jillian melchior. i don't disagree capitalism need to defend itself, to reform, to grow a little bit, i don't know that you can have hard adam smith kind of things in a world with the amazon, internet and a lot of americanslegitimately fr. >> i just don't want to hear a lecture from billionaires. capitalism did just fine. he is talking about how he got his start at 12 years old mowing lawns, invested in the stock market. now he is a billionaire. i think is completely outrageous. charles: isn't making a argument for america? >> he is. we have a be a little skeptical when a billionaire brought me all success and money will not
2:24 pm
work for you. that makes me skeptical. i will point out this week, stephanie myers, stephanie murphy, representative from orlando, her family is from vietnam, had to flee, she is a democrat. saying this is the greatest democracy, capitalism system in the world and shouldn't be flirting with socialism. charles: speaking of being clumsy, jamie dimon said american history hat its fraus. well some people might not think slavery was a flaw or some of the other things are happening, they're trying to be down with the middle class, i feel your pain. to jillian's point i'm not sure they're being effective. maybe it could actually hurt the message ultimately, i think they're trying to get across. >> i think some of this is legacy building. they want to go out feeling like they were doing something for the betterment of mankind. charles: plaque on side of a building isn't any good anymore. >> not enough. i saw howard schultz speak at
2:25 pm
boys club in new york. i want to take issue with the appearance you profiled, at that luncheon he talked with young men of color, hey, i don't want anyone to convince you do not have any opportunity in the world in the united states here now today. that was such a positive message. he was so pro-u.s. so in fact i think this is other thing was kind of pandering and political pandering because he is interested in running for president but reality is, he came up from nothing, from a really difficult, poor beginning and, the boys club was a safe place for him. charles: first in his family to graduate. >> exactly. he made it big. charles: all of them are examples of the american dream but i saw more pandering real quick. i want to talk about joe biden because he spoke publicly first appearance since all these allegations have come out of inappropriate behavior and he really seemed to have a hard time answering the question about whether or not his party moved too far to the left.
2:26 pm
>> the fact of the matter is the vast majority of members of the democratic party are still basically, liberal, moderate democrats in the traditional sense. charles: he is walking on eggshells. finishing his own statement. that tells you progressives are lot more powerful than he wants to admit. >> he got himself in the situation. you saw him coming out for title ix of the he has been one of the driving forces between this very draconian viewpoints on sexual politics. i think it is just fair. you see these liberals going so far out on this is oppression, this is oppression, this is racism, this is sexism, they're battling themselves in the corner where they can't live up to their own standard. charles: good point. >> he said i'm one of the most progressive people running, even though he wasn't running at the time for president. is he progressive. charles: he was trying to say he
2:27 pm
wasn't but having a tough time. thanks, ladies liz and jillian. president trump landing in california any minute. he will head to the mexican border to look at the wall. we'll preview his visit. a study says most americans hate it continue to use it and won't about i give it up and tweet me about your love/hate relationship with social media. tweet me @cvpayne. we'll be right back. m off to coe and i'm not gonna be around... i'm worried about my parents' retirement. oh, don't worry. voya helps them to and through retirement... ...dealing with today's expenses... ...like college... ...while helping plan, invest and protect for the future. so they'll be okay... without me? um... and when we knock out this wall imagine the closet space? yes! oh hey, son.
2:28 pm
yeah, i think they'll be fine. voya. helping you to and through retirement. ifor another 150 years. the fire going ♪ to ins♪ire confi i'm working to make connections of a different kind. ♪ i'm working for beauty that begins with nature. ♪ to treat every car like i treat mine. ♪ at adp we're designing a better way to work, so you can achieve what you're working for. ♪
2:29 pm
2:30 pm
2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ )
2:31 pm
♪ charles: welcome back. stocks enjoying modest by widely distributed gains as we're on the verge of another monster week. today's catalyst, the government reporting major rebound in hiring in march. technology stocks also rebounding after that rough session yesterday.
2:32 pm
british prime minister theresa may seeking to delay brexit again, this time till june 30th, not sure what year, as we're one week away from the latest deadline for britain to withdraw from the eu. one leader in the eu is saying get a longer delay. how about another year? that could be on the table. speaking of divorces, bezos marriage is over and mackenzie walking away with the fortune but half of what she entitled to. did the richest couple give a life lesson by the way they split? that is coming up. americans say social media is divisive, straight up wastes our time. most of us use it every day. we are not willing to put down the device to disexpect. to discuss the social media paradox is mark lehman. mark, people will treat today how much they hate tweeting or folks on twitter. what it is about social media
2:33 pm
love/hate relationship? >> well, it has taken over our daily lives. i think people look at that as a threat but at the same time they can't get enough of it. i think we've been talking about this imminent threat for a long time to both adults and children. i think we're getting more to, what are we going to do about it? it is here to stay. it isn't going away. the usage is going up. and it is going up every day. charles: it is going up every day. there are some scandals. abuse of information we share with the companies. abuse of the information we put on about our personal lives. abuse we take from other folks on these same platforms. obviously there will be some government intervention but i got to tell you something, people are wanting even more than that they think that, to your point, this is an avalanche, if we just stand there it will end fairly miserably for all of us? >> well i think like anything else, you will have great calls, great alarm bells ringing because there are terrible by-products of this as we all
2:34 pm
know. on other hand this is how we live our lives. the way we live our lives will only get more mobile. we'll use more of social media. the proof in the pudding. facebook reporting first quarter. advertising growth north of 25%. we have half a billion daily average users on instagram and facebook. those are daunting numbers. they will not go away by legislative means. they will go away by individual choices. i don't see governments legislating what that will look like. zuckerberg said that this week. charles: speaking of zuckerberg and facebook, it got two up grade this last week after tons of downgrades through last july. does wall street look at this more realistically in terms of main street, hey, it will be here, deal with it, make money on it because it is not going away? >> i think they do. this is back away from the
2:35 pm
cambridge lan lit can story last -- analyst can story, daily average users, monthly average users, what profits they will have after they report. more of that and less and less my goodness the government will regulate what is going on here. more portfolio managers are waking up to that fact. at the end of 2018, portfolio managers percentage of their holdings facebook was going down. i think some people have to get back into the stock. that is not widely reported. the stock is up a lot this year. frankly, shockingly one of the more underowned stocks for some portfolios that will change. charles: if users cannot give it up despite a love/hate relationship, maybe fund managers shouldn't either. mark, thank you. >> thank you. charles: we're moments away from the expected arrival of president trump to the california border where he will visit a stretch of the wall already completed. former i.c.e. director tom homan joins us to.
2:36 pm
former pizza chain executive, friend to the program, herman cain, to join the federal reserve board. many accusing the president stacking the fed. is he right to pick, what does it mean? besides cain what does it mean for the markets and economy. we'll discuss it next. ♪ (music)
2:37 pm
(music and splat sound) (music) oops (music) (music birds chirping) uh-oh... (music) (music and patter of little shoes) (music and glass breaking) sorry... (music swells...) (music and loud glass breaking) get on top of it before they do. about every 30 minutes tipped furniture or a falling tv sends an injured child to the emergency room. preventing tipover incidents is easy, inexpensive and only takes about 5 minutes.
2:38 pm
learn how to secure your furniture and tv's to protect children at anchorit.gov.
2:39 pm
2:40 pm
charles: president trump arriving moments ago in california to tour a recently built portion of his wall designed to stop a surge of illegal immigrants coming into the united states. also hold a roundtable with officials there. this is, trump laid down the law with mexico, abandoning his plans to immediately shut down the border but he is promising tariffs are now on the table. joining me former director of i.c.e., tom homan. are you happy with president trump's more aggressive approach on this now? >> exactly.
2:41 pm
i think he is doing exactly the right thing. connell: -- charles: getting a lot of push back from a lot of folks normally would be in trump's corner. a lot of elected officials, towns, mayor of el paso is livid, a lot of folks are. what are they not getting about the sense of urgency, sense of security and priority here. >> look they ought to be angry at somebody, be angry at congress. when i was i.c.e. director we're out here every day. there is loopholes that cause these caravans to come. congress has known about it. name one thing they have done to address the caravans? they haven't closed loopholes on asylum. haven't closed the loopholes on detention agreement. haven't given i.c.e. enough beds. back to catch-and-release. that is who to be angry. president trump says if congress will not help me and courts keep sending temporary retraining orders, i do what i have in the executive office to secure the border. that is exactly what he is doing.
2:42 pm
the anger is displaced. be angry at congress. charles: how surprised were you, that jeh johnson, dhs under president obama called this a crisis? he said when he was in office, he said when he had this job anything over 1000 is terrible day for him. obviously 4100 is beyond comprehension. >> i respect jeh johnson. i worked with him. we had many meetings. we built 3,000 family detention beds. hold women and children in cages that are not really cages. jeh johnson he funded all this and fought for this stuff. he had a real issue. that was response. let's try to detain these people and remove them. so now the numbers are much worse than they were back when he built all these facilities. so jeh johnson i respect him. he is 100% accurate. the numbers are worse now than they were back then. charles: how do you explain, just in the last month or so,
2:43 pm
this huge spike and then of course, two caravans on their way right now? is it the coyotes? does word get out there is so much sympathy that it is almost and encouragement norfolks to make the dangerous trek to try to get here? maybe once you get in the country you know you're okay? >> well look, why would they stop coming? there is no consequence. charles: but, tom, the spike has been mind-boggling. like something else went out, some sort of call went out, hey, make your move right now? >> look, when they know, they see the stories, 14,000 family units came through one month, only 3,000 beds. they know most people are released. they're watching the news. seeing hundreds and hundreds of people released into the united states every day. that entices people, you know what? now is the time to come. they're overwhelmed. half of congress wants open borders. they don't want to fix it. they're not stupid people. they watch the news. they see what is going on. they're taking advantage of the crisis.
2:44 pm
they're taking advantage of chaos on border right now. charles: tom, always love your passion and insight. there thank you very much. i just want to alert the audience, looking in central california, air force one landing. we'll be right back, see president trump. this is a big tour for him. we'll be right back. 2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ ) the day we'll finally get something done. i'm off to college. i'm worried about my parents' retirement. don't worry. voya helps them to and through retirement... dealing with today's expenses ...while helping plan,
2:45 pm
invest and protect for the future. so they'll be okay? i think they'll be fine. voya. helping you to and through retirement. your control. like bedhead. hmmmm. ♪ rub-a-dub ducky... and then...there's national car rental. at national, i'm in total control. i can just skip the counter and choose any car in the aisle i like. so i can rent fast without getting a hair out of place. heeeeey. hey! ah, control. (vo) go national. go like a pro. i can customize each line for soeach family member?e
2:46 pm
yup. and since it comes with your internet, you can switch wireless carriers, and save hundreds of dollars a year. are you pullin' my leg? nope. you sure you're not pullin' my leg? i think it's your dog. oh it's him. good call. get the data options you need, and still save hundreds of dollars. do you guys sell other dogs? now that's simple, easy, awesome. customize each line by paying for data by the gig or get unlimited. and now get $250 back when you buy a new samsung galaxy. click, call, or visit a store today.
2:47 pm
2:48 pm
charles: president trump says the federal reserve should cut interest rates. >> what should the fed do with interest rates? >> well i personally think the fed should drop rates. i think they, really slowed us down. there is no inflation. i would say in terms of quantitative tightening it should be quantitative easing. charles: today as talk on the fed comes a day after president trump pegged former presidential candidate herman cain for a seat. setting up what is sure to be bruising confirmation hearing. carol mark wits and dan suzuki. let me start with you. larry kudlow last week, president trump saying now that the fed should cut rates. essentially what they're saying the fed should forget about this interest diggal role where they come to the rescue.
2:49 pm
roll up your sleeves, help push the economy even further since you slowed it down unnecessarily last year. is there some rationale to that? >> you have to look who you're asking the question to, right? if my employer asks me whether i want a race, i tell him i would love to have a race. they love interest rate cuts, monetary policy to be supportive as policy especially when they know growth will slow this year. from policy perspective, stepping back, i think it is kind of mixed. it is clear that growth is slowing but clearly not falling off a cliff. charles: yeah. >> being patient means -- charles: fed only entity in the world that can create trillions of dollars out of thin air. imagine what you could do with that. imagine if you were president what you could do with that? big news on the fed, herman cain. immediately all different objects came out. to the point where some are even
2:50 pm
portraying him in more of a caricature. you know him personally. >> i worked on his u.s. senate race in 2004 in georgia. he is a serious person. he is a serious man. he has serious policy ideas. the joke media turned him into 2008 is representative of him at all. i have plenty ever disagreements with mr. cain. i disagree with much his writing on the gold standard but, disagreeing with somebody politically doesn't mean they're not qualified for the role that they have been -- charles: something like 999, they will have a lot of fun with that. they will have a lot of fun with other things, calling him a pizza guy. >> yeah. charles: that really is, he is much larger figure. >> much larger. he has a very serious resume'. and if republicans don't push back on this, that will be their own fault. he is not a joke. he worked for the kansas city fed. he has a lot of real world experience we should like at the fed. it is really up to the
2:51 pm
republicans right now to make the argument we're not going to take this lying down just because you decided he is unqualified. paul krugman or whoever. doesn't mean that we're going to accept that. charles: the idea that president trump stacking the fed from a wall street perspective, what is wrong with that? >> well, again, you have to go to the source. of course they want some who will cut rates and be more dovish on the spectrum. that is what you will get. from a credential perspective i agree with carol, he has a lot of background. i grew up eating godfather's pizza. that seals the deal already. no, he clearly has a lot of experience with the fed. charles: president trump, by the way, folks, that is el centro, california. he headed to the border. he is in a great move. pushing his agenda very, very well. we know he is very serious about this. he will show off what a new wall looks like to the american public. didn't mean to cut you off. dan, carol, thank you very much. we appreciate it. >> thank you. charles: mackenzie bezos now the third richest woman in the world
2:52 pm
but she could have gotten so much more from her divorce with amazon founder jeff bezos. why did she settle? say she is the ex-wife of the century but we'll ask an attorney next. ♪ -driverless cars... -all ground personnel... ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. no ifor another 150 years. the fire going ♪ to inspire confidence through style.
2:53 pm
♪ i'm working to make connections of a different kind. ♪ i'm working for beauty that begins with nature. ♪ to treat every car like i treat mine. ♪ at adp we're designing a better way to work, so you can achieve what you're working for. ♪ they feel like they have to drink a lot of water. patients that i see that complain about dry mouth, medications seem to be the number one cause for dry mouth. dry mouth can cause increased cavities, bad breath, oral irritation. i like to recommend biotene. biotene has a full array of products that replenishes the moisture in your mouth. biotene definitely works. it makes patients so much happier.
2:54 pm
2:55 pm
2:56 pm
charles: a big win for jeff bezos in his divorce settlement as he will retain voting control and 75% of his shares in amazon while his wife mackenzie is going to take 25% but again, she c ceded the voting rights to him. they announced their divorce back in july and it left a lot of people to wonder about the future of amazon. mackenzie will wind up with $36 billion, 4% stake in amazon. that makes her the world's third
2:57 pm
richest woman but she could have gotten so much more. moist misty, have you dealt with a case like this? every time i pick up the paper, it's about these bitter tooth-and-nail war of the roses type divorces. >> this is actually a unique case because she had every legal argument to take 50% of all of their assets. they were in washington state which is a community property state. they did not have a prenup. she was also part of building up amazon. they were married before amazon is what it is, so she really could have gone for everything. this case had a lot of unique facts and circumstances, especially because the golden goose is all of those amazon shares. look, this could have gone a completely different way. i don't think anyone would have been too shocked if it did. charles: i think people are shocked that it was amicable to this degree, so quickly wrapped up. it feels like from what i have read and understand, it was all about saving the children from
2:58 pm
the messiness of what it could have been. >> which makes sense because you don't want to drag children through a divorce where you pit each other, pit your children against each other. i also think there's another factor here. it's shareholders, right? i think they went through great stakes to make sure shareholders weren't feeling nervous. what makes a shareholder more leery than litigation that could go on for the rest of time, that involves a large percentage of shares in the company they're investing in. i think that was also part of the equation because as you have said, this is a lightning speed resolution for the astronomical amount of assets at issue. i'm sure there are family concerns but there is also a piece of this that's a true business concern, and in both of their best interests for amazon to continue to thrive. charles: that's an important point. steve wynn, i should have had a two or three-year chart made. that's a stock that was under a considerable amount of pressure, some because of business but others because how ugly that
2:59 pm
divorce got. steve wynn even accusing his wife of the one who released all of the allegations against him and ultimately, he was kicked out of the company that he founded, he inherited as a funeral parlor and it's been ugly ever since. >> absolutely. i think in this particular case you are talking about the richest couple in the world as we just said. they probably got together before they made that announcement in january that they were going to get divorced and decided about how this was going to be treated. that would be my assumption, because otherwise, you're going to throw amazon into a frenzy. charles: would you be offended if i said they probably did listen to the lawyers? >> the lawyers might have wanted to bill a little more because they bill by the hour, so maybe they thought they would get a few hundred more hours on this one. charles: something tells me mackenzie's lawyer's like you know, you can get a lot more. >> but maybe $36 billion isn't too shabby. charles: isn't too shabby. puts you number three in the world. family's intact. >> you don't have to go through
3:00 pm
that messiness. charles: dow jones industrial average up 25 points. here's the interesting thing. almost every sector is higher but nothing is really taking off. liz claman, interesting reaction to that jobs report. liz:ll very closely. charles, we are also getting reports that a renegade military force in libya has just seized the former tripoli international airport on the southern outskirts of the capital. we will get more in a moment but it is moving oil prices right now. we have this breaking news. you are looking at the tarmac right now in southern california. president trump just landed there. in a moment, he's going to head to the u.s. border patrol stati station. right there at the border, once he gets there, he's going to attend a roundtable on border security after backing away from last week's threat to seal off the southern border by today. we will take you there

19 Views

info Stream Only

Uploaded by TV Archive on