tv America Reports FOX News September 21, 2022 11:00am-12:00pm PDT
the south carolina senator. >> john: charlie hurt is there, the united nations gets a lot of attention, the question for charlie, why is it getting any attention? >> sandra: and john, great to be with you, a huge news day. adding to everything happening right now, the decision from the federal reserve on another interest rate hike. the goal here is to tame sky high inflation. the fed looking to raise rates for a third straight time to try to slow down those rising prices. so right now you are looking at reactions in the market. 161, i see green but i see a negative next to the dow. ok, so, looks like the dow turned lower on the news. s & p is also lower. reaction, the fed did agree to raise interest rates
three-quarters of a point, remember larry kudlow saying rip the band aid off, a full point. jay powell clearly not deciding to that, and now markets are reacting to what was an expected move with the dow moving lower by 100 points, ok, now you see the red tick there, john, what i was looking for on the chart, it does show a negative reaction there. we'll keep watching it. >> john: let me offer a quick analysis here, i think the reason why it was down, investors were not sure if he was going to go for 75 or rip the band aid off with more. now that it's 75, the market is coming back somewhat. >> sandra: the fact there was even a chance he might go a full point was spooking markets a bit. j.p. morgan in the minutes leading up to this had raised the possibility of a full point hike to 20%. so, there was a chance out there with wall street thinking that this could happen, but again, this is inline with
expectations. the market initially selling off but it's already coming back now just down 55 points. we'll have more reaction to this move, what it means for your money. tim scott will have reaction to that and more the back half the hour as well. >> john: meantime, where we begin this hour. new york's attorney general is suing former president trump, three of his children and his business accusing the former business of numerous acts of fraud. >> sandra: james says president trump falsely inflated his net worth by billions of dollars. >> this investigation revealed that donald trump engaged in years of illegal conduct to inflate his net worth to achieve, to deceive banks and the people of the great state of new york. claiming you have money that you do not have does not amount to the art of the deal. it's the art of the steal. >> john: here to react is bill
barr, former attorney general under president trump. good to have you in here. >> good to be here, yes. >> john: seem the goal is bar anyone from the last name trump to not work for them again, and evis rate the family business. >> it's hard for me not to conclude it's a political hit job, and this is a woman who campaigned for office saying promising she was going to go after trump, which i think is a tremendous abuse of office to go head hunting and targeting individuals. so i think she was targeting trump, and this is after three years a civil lawsuit, the gist of which is when the trump organization borrowed money, trump personally guaranteed those loans, and to support that she's claiming that he inflated his assets on his financial statements. i'm not even sure she has a good case against trump himself, but what ultimately persuades me that this is a political hit job is she grocery overreaches when she tries to drag the children
into this. yes, they had roles in the business, but this was his personal financial statement, prepared by the cfo, accounting firms were involved in it. the children aren't going to know the details of that, and be able -- nor are they expected in the real world to do their own due diligence and have it reviewed independently. and so this to me looks like gross overreach, which i think is going to end up backfiring on them. i think it will make people sympathetic for trump, another example of people piling on because of trump derangement syndrome, you know, the strong entire to punish him. >> sandra: this is a long series of allegations and welcome to you, thank you very much for joining us, including his children, the former president, his children and his business. in the series of allegations against the former president, it included misstating the value and the size of his tri plex apartment in trump tower, alleged in some files as well,
his florida resort, mar-a-lago, valued as high as 739 million, should have been closer to 75 million. james also claimed trump inflated the value of other properties and unsold memberships at his golf clubs, and examples from 23 assets, about but found more than 200 examples. he is making a criminal referral to the irs and southern district of new york. where does it go? >> for one thing, she brought this as a civil case, it's not a criminal case and to me that says she does not have the evidence to make a criminal case. so she's setting a lower bar and bringing this civil case. i don't think it's going to go any further. now, over 200 pages long with a lot of details about the valuation of properties. but the fact of the matter is that real estate valuation of a complex real estate company like this is inherently very subjective. it depends what kinds of
assumptions are used, values can swing, depending whether it's a property split up or one that's kept together and so forth, so it's not an exact science, and the fact is that banks, sophisticated banks don't rely on every jot and tiddle in the financial, sometimes they automatically discount the submission and the loans were paid back. those were successful investments and the banks were paid back. so to spend three years on this seems to me her trying to make good on a campaign promise that she was going to bring trump down. >> john: are you suggesting no harm no foul here? >> well, i'm suggesting this is not the kind of case you would want to sink a lot of effort into and i'm also saying i think the proof is probably fairly pultry when it comes to trump.
what persuades me this is overreach, she went after the children. she says you know, they conspired. she has no evidence they played a role in this. if your parents were going to help you get, buy a car and they were going to guarantee it and submitted their financial statements and they had a complicated financial situation as trump, would you, you know, feel you had to go out and fly speck it and so forth? no, no, she's entitled to rely on the cfo and the accountants who prepared her father's statement. >> sandra: what would you say to someone watching right now who says it looks like you are coming to the former president trump's defense when many, including the atlantic recent write-up saying you turned on the former president. >> well, you know, that's the way news is covered. if it's a sporting event and you know, either wearing this jersey or that jersey. and the jersey, you know, i think is specific to the facts and the truth and the individual
situation. there are times where people may, you know, be conducting legitimate investigations into some of trump's actions, but this isn't one of them. and it is simply true there are a lot of long knives after him, and people go after trump, target him unfairly and apply different standards of justice and when that happens it has to be called out. >> we have not heard from ivanka yet, but don, jr. saying value mar-a-lago, it's $75 million, i would be happy to buy it, grocery understates what the real value is. and trump said another witch hunt by racist attorney general james who failed in her run for governor, and order ag, highly respected michael henry, never thought it would be brought until i saw really bad poll numbers.
despite the city is one of the crime and murder disasters under the world under her watch. she spent a lot of time on this, i would assume the case is not owing to recent poll numbers. but she is running for re-election, and this would be a big plum for her to say i'm going to get the president, or the former president. >> that's right, and you know, and she ran the first time she ran was she was going to, her main campaign promise was bringing down trump, going after trump. that's a horrible thing for law enforcement person running for law enforcement office to be doing. it's -- the greatest abuse that someone in that position can have is going after people rather than, you know, detecting crime and then investigating crime. >> sandra: the trump attorney statement says this, today's filings neither focused on the facts or the law, but the ag political agenda, to your point. abundantly clear the office has
exceeded the statutory authority where no wrongdoing has taken place, we are confident the judicial system will not stand for the unchecked abuse of authority, and that's the attorney for former president trump. to your point of a political hit i don't know to donald trump, jr., tweeting this is all about politics, weaponizing her office to go after political opponents, if that's the case, how is she going to be held accountable? >> well, g hopefully it will be through the electorate, that's what the system is set up to do when people do things like this. she won't be re-elected. >> john: mr. attorney general, we have the d.a. looking into that, making a criminal referral to the irs, i suspect we will have plenty of opportunity to get you back and talk more about everybody going after the former president. thanks for being with us.
>> sandra: appreciate you coming on, thank you. so sandra, we'll see where this goes. it's 48 days to the election, and clearly there is an allegation, not just from the attorney general, but many others, that politics is at play here, and this is a good way to try to put a feather in her cap and maybe increase her chances of winning another term. >> sandra: the timing is noted by many, and great to get the former attorney general on. appreciate him joining us. >> john: absolutely. >> to be very blunt, let us speak plainly. a permanent member of the united nations security council invaded its neighbor. attempted to erase a sovereign state from the map. >> what he didn't do, wish i would he would have gone further, call out the countries helping russia, that china is helping, iran is sending drones, call out north korea for doing rockets, he could have made that a bigger isolation if he would have called those countries out. >> sandra: former u.n.
ambassador and south carolina governor nikki haley slamming the speech earlier today. >> john: the world stage, pettyness on the sound stage, one of the women with "the view," taking it on nikki haley over her name. >> what is her real name? >> she has gone by nikki since she was a child, i would not be shocked an indian woman growing up in south carolina at that time she actually did to avoid prejudice, so i want to be careful about critiquing her. >> there are some of us that can be chameleons and decide not to embrace our ethnicity so we can pass. >> sunny, i don't think that's fair. >> you go by a different name. >> i don't want to be the one to say it. >> most americans cannot pronounce -- because of the undereducation. >> john: nikki haley saying thanks for your concern, sunny, it's racist of you to judge my name. nikki is an indian name, and is
on my birth certificate and i'm proud of that. what is sad, the left hypocrisy to work in conservative minorities. last i checked, sunny is not your birth name. >> sandra: and critics say if sunny has such an issue, she could speak to her co-hosts. and tim scott, extremely offensive that exchange on that show. >> sandra, absolutely. i can't imagine that in america today that sunny is having a conversation about nikki haley's name. have a conversation how good of a governor she was, how all of south carolina, especially minorities in our state, saw their opportunities go up, not down, under her leadership. the fact of the matter is, when you see strong, powerful, positive minorities standing up on the conservative side, the left always wants to hit and demoral lize, diminish our impact. i am thanking god i was born and
raised in south carolina and i thank god nikki haley was our governor. i don't think of a worse situation to see on tv than someone who does not go by her own name, talking about nikki haley whose name is nikki haley. on her birth certificate. >> john: she spent the hour with our harris falkner, they had a lot to get to because the president was speaking at the united nations. ultimately they did get around to this topic. what nikki haley said. >> idea that they can do this, you are not going to see her fired from that show, we are not even going to see an apology from that show because they let liberals say that about conservative republican minorities all the time. but yet nothing is done. had this been said about a democrat, all hell would have broken loose. >> john: pick up on that theme. because you were the victim of, they were different allegations but of a piece of this, and it was unfair, didn't tell your
story. >> yes, absolutely. well listen, one of things i have learned from liberal media, they will question your life story. the fact that the washington post did a fact check to see if my grandfather in 1927 finished school in the third grade or the 4th grade, they spent three months doing a research to figure out when my grandfather stopped going to school. the fact that there were hosts that call me uncle tim, the bigotry from the left is condoned by today's media and/or celebrated in today's media. i feel sorry for those folks who are afraid of conservatives, who are minorities. it is the power of choice, the power of being an individual that we should all celebrate, the power of choosing your own destiny, that's the power of choice that sets people free. >> sandra: i want to move on to the momentum that seems to be on the side of democrats as we work
our way seven weeks out from the midterm elections. put up on the screen here, the balance of power and now 30 toss-ups in the race in the house, which if democrats run the table they could keep the majority there, and republicans could gain a major majority if they were to run the tables. we are watching that, and then put up the senate power rankings with the forecast majority, what is going on here, and why did it look like a red wave was coming months ago, and that potential margin of victory for your party seems to be shrinking. >> sandra, i'm so very bullish on our odds of winning back the majority in the house and the senate this november. there's no doubt about it that our candidates on the field are executing and really positive fashion, one of the reasons why i have chosen to not only campaign in south carolina but to go to wisconsin and to ohio and hopefully philadelphia and also in nevada really soon as
well. so i'm travelling the country while maintaining my presence at home because we are going to win back majorities, and frankly, the polls that suggest otherwise, they have been wrong so often i don't even pay attention to them. >> john: nate cohen did a piece in the "new york times" how wrong the polls have been since 2016. democrats have been able to leverage the messaging on the dobbs decision from the beginning of the summer and the abortion issue and that's credited with cutting into what was looked like was an insurmountable republican lead. the same time, republicans should be running away on the economy, inflation, and jobs. i mean, when you take a look at the president the other night on "60 minutes" downplaying 8.3% and saying well, just an inch from the previous month. but you are not. >> john, i disagree with you. let me tell you this. one of the things the american people are focussed on, for six
consecutive months, inflation has been over 8%. 17 consecutive months, outpaced wage growth. the one thing they talk about is inflation, the second is the economy, and the fourth is gas, and the fourth is crime. the truth is we are going to win back majority because we are talking about what the american people want to hear. i know there is a progressive movement that wants to change the subject because they are so terrible on the economy, i would want to change the subject too. you can't change the subject when you pull up to the gas pump, you can't change it when you go to the grocery store. this is coming -- there's a red wave coming, i think we are riding it. >> sandra: and people are hungry for positive messaging on the economy. it's economic pain on the average american family shelling
out more and more money every month, nearly $500 more than last year, just to pay for inflation, some working two full-time jobs a week living paycheck to paycheck, the dow, markets are selling off here, they are down 225 points since the fed announced another interest rate hike, senator. so, are they going to be able to get this under control? should they have been more aggressive? >> well, sandra, i think we are in a very precarious position as relates to our economy. the truth is that as the fed continues to use their biggest tool in the toolbox, it's just not enough to slow down this inflationary effect we have seeing throughout the economy and i would suspect next month would be like this and last month. 75 base points is the they could
have done. we are already in recession. more than half the country has less than $1,000 in the savings account. as a kid who grew up in a single parent household, i will tell you, my mom pulled up to the gas pump and gas was 50, 60% higher that was an crisis in our lives. we were looking for nickels and quarters and dimes to put gas in to get to work. people spend too much time in washington and too little time in sommerville, south carolina or anderson, south carolina. this is a challenge and it's not going away between now and the election. >> john: another issue building in terms of an election year issue, big one last year in the virginia governor's race, parental rights when it comes to what your children are being taught in schools or whether their life at school is forcefully separated from yours. you have introduced the protect act, and mazed by the acronyms,
parental rights over the education and care of their kids act, probability schools from concealing information about students' gender from their parents. people at home say what are you talking about? that's what the fairfax county public school system wants to do here in virginias. >> exactly, john. i'm saying let's follow the laws. the fact of the matter is, your child is your most precious possession, your greatest assess, your wonderful hope for your future, and to literally separate the child from the parent at 9, 10, 11, 12 years old, is unimaginable. what's happening in schools, big labor unions and bureaucrats are stopping parents from knowing what's happening to their kids. parents should be talking to their teachers, not having to file a freedom of information act to see if the kid is learning about crt or a gender
issue in the 4th grade. we should stop seeing schools indoctrinate kids and get back to educating that child. >> sandra: this is just one aspect of getting our education system back on track, it's a mess, and a lot of parents have gotten a firsthand look at that because of the pandemic, looking over their kids' shoulder during virtual learning, but we also have a shortage of teachers in the country. a bit of a mess when it comes to the public education system. how do we get back, senator? >> sandra, one of the things that i've been saying for the last nine years is that we have to introduce more options for parents, the more choices a parent has, the better chance the kid has for succeeding. out of all the money given away to schools, about 95% of the dollars are still unspent. i have legislation that would take a portion of those dollars, give it to the parents so they
can choose a school that's actually having in-room curriculum, in-room classes. you could actually find a mentor or find a tutor to help your kid with math or science or reading, the basics. one of the ways that we get ourselves back in line with the future of america by educating kids today is simply by giving the parents the resources they need and the options they need to make simple choices. and by the way, sandra, this country spends nearly $750 billion overall, k-12. we are not, it's not a money issue, it's who has the power and the power is in the hands of labor unions, adults, not children. >> john: that's what it's all about. who has the power. we'll see how this plays out, and we wind down to november 8th. senator, always great to catch up with you. thanks for coming on. >> sandra: great to have you. >> john: interesting to see, sandra, how this is building as
an election year issue. i guess with kids back in school now, parents are finding out about the stuff. >> sandra: and a lot of lost learning. so the parents who had lost learning for their children are now having to play catch-up and we need to make sure we have the best and the brightest teachers in the classroom to help the kids get caught back up after the pandemic. all right. meanwhile, this. world leaders descending on new york city for the u.n. general assembly and hanging over the meetings, a threat by vladimir putin to wage nuclear war, months after he launched the invasion on ukraine. >> john: and huge concern china could follow suit and invade taiwan. president biden addressing the twin threats earlier this morning. >> you cannot seize a nation's territory by force. the only country standing in the way of that is russia. we seek to uphold peace and stability across the taiwan straits, committed to the one
china policy, helped prevent conflict for four decades. >> john: reviving questions about the need for and purpose behind the united nations, which u.s. taxpayers prop up with billions of dollars of year, china is a member of the u.n. human rights council and also committing genocide among uyghur muslims. and russia, a permanent member of the security council with the power to veto anything russia does not like. >> sandra: charlie hurt on whether the u.n. has lost its way, but gillian, the world in trouble. hello to you, by the way. crisis across the globe. exposed the u.n. shortcomings. can we break, can you break them down for us, please? >> gillian: basically the criticism, sandra, is that the u.n. today right now is failing over and over again to meet its mandate, this year alone the organization stood by as russia, china, north korea and iran all thumb their noses at international law and norms. lawmakers here in washington now
say the best option left to the president of the united states is simply use the platform of the general assembly to hammer home american interest. take a listen. >> when president biden gets to the united nations, understanding that vladimir putin is known to be homicideal, not suicidal, you need to be strong, confident, consistent, and effective. understanding the principle that when you are there giving that speech you should be messaging to the nation's friends. >> gillian: and secretary of state antony blinken has repeatedly in recent years referred to the annual u.n. meeting as "diplomatic speed dating." it is not, government officials have taken on a critical view of the organization. >> i'm not a fan of the u.n. it's a money making corrupt organization. >> it's a waste, so is the money. it's a waste of money. >> i personally don't trust them 100% in all different aspects. >> i don't know why they exist to tell you the truth.
>> gillian: the organization has stood by this year as russia built up troops along ukraine's border and then invaded. genocide continues in china despite a u.n. human rights council created specifically to prevent it. and north korea is thumbing its nose at the security resolutions to stop its missile tests, and all this mentioned does not come cheap. 2020, the most recent fiscal year we have full data available, u.s. contributed $11.6 billion to u.n. operations. >> sandra: gillian, thank you. john. >> john: more on all of this, charlie hurt, washington times opinion editor, great to see you. >> great to see you. l>> john: first time i've seen you without the beard -- >> it had to go, when the wife drops the hammer, you shave the beard. >> john: biden said there needs to be clear, firm and unwavering position here among the nations
of the world, stand in solidarity with ukraine against the russian aggression. was the message tough enough? nikki haley, watching the whole thing with us here on fox, said she believed that biden should have called out china and iran and north korea and everybody who is helping putin. but didn't. >> i think one of the problems that biden has is of course most of the world is unified against what russia did in ukraine, and, but when you turn to the other countries, like china, what you are doing, you are highlighting other countries that are quite frankly probably in terms of our own personal national security, greater threats to our country, ie, china, as opposed to russia. and you know, and joe biden spoke very forcefully about the amount of money american taxpayers have paid, spent in ukraine, and money we don't really have. americans are not feeling that money in their own pocket books,
which is a very dangerous situation going into an election where you have voters watching a speech like that at the u.n. and saying wait, i'm sending tens of millions of dollars that i don't even have to a country and my life is really not that great right now? >> sandra: i think it's a fair question. no, i'm listening to charlie and i like the hair cut, too, by the way. no, i think you have to ask the question, and i think as far as the relevancy of the news from there today, people want to know how they are going to turn to this in the future, charlie. >> and going into an election, without a doubt, republicans are going to use this, you know, do everything they can to hang it on joe biden and the degree to which the effort has been to focus on ukraine as opposed to problems here at home. the problem with this, of course, is that -- and this is true not just of joe biden, joe
biden has been the reigning foreign policy expert in washington for decades. literally most of his 50 years he's been in washington. and the situation in ukraine is the resume of joe biden and the united nations. this is what happens. and when joe biden has gas prices, energy prices, energy policies that he's instituted that has created a situation where vladimir putin had enough money to invade ukraine, it's not that hard to pin a lot of the blame for this on joe biden, and i think smart republicans running on this are going to do just that. >> john: mentioned how much money pouring into ukraine, a lot into the united nations, $11.6 billion according to gillian turner, and you have to wonder based on how they are approaching the genocide in china and other issues as the u.s. getting its money's worth.
john bolton said take the top ten floors off the u.n. building and would not make a lick of difference. >> like some federal departments here in washington. no, it's a real problem and goes to the heart of the issue, which is credibility. and i'm afraid that, you know, joe biden is right about a lot of this. he's right about vladimir putin, vladimir putin is a very bad guy, and he's doing some very bad things in ukraine. but the problem is, do voters have faith, does joe biden have the credibility to carry out this foreign policy that is costing americans a lot of money? that's a different question, and i think it's a very difficult answer for him when it's put directly to voters. you know, you look at these polls, all the things that rank near the top, whether it's illegal immigration, crime, gas prices, ukraine is not anywhere near the top. >> sandra: great point, and will
voters hold him accountable, and a couple years ago charlie. >> indeed, they'll have an opportunity to make their voice heard in november, that's for sure. >> john: so many issues starting to pile up as we are just 48 days away from the election. great to see you. i love to see your face again, too. [laughter] i liked the beard, i thought he looked like mcsteamy on "grey's anatomy." i thought it was a good look. >> sandra: looks good. >> john: we live by the same creed, do whatever your wife tells you to do. >> sandra: you know, you can never go wrong with that. >> john: although sometimes you feel like you can. two years after covid hit, thousands of new yorkers still waiting for answers about the deaths of their loved ones in nursing homes. so is congress. disgraced ex-governor andrew cuomo dodging a hearing. will families ever get the answers they want n live on capitol hill. >> sandra: speaking of news and
a lot of it, this is a live shot of jay powell, right now delivering the news conference after he delivered a rate hike at the top of the hour. reporters are going to press him on what happens next and will this serve to bring down inflation. we are watching this for you, we are monitoring it, and we'll bring you the news from it that matters to you and your family and your 401(k) next.
>> sandra: fox weather alert, it's been a while since we have seen a monster storm like the one here. hurricane fiona is the first cat 4 storm of the season, right now east of the bahamas and is barrelling toward bermuda. it already left a path of destruction in puerto rico, at least four died there. it will go past bermuda thursday and friday before heading to the nova scotia area. we are following that for you.
>> john: live look at the house committee hearing where lawmakers are looking for answers on covid-19 nursing home deaths. disgraced former new york governor andrew cuomo is a no-show. aishah has more for us. has anyone heard from cuomo? >> we have not heard from him, and neither have house republicans here and they tell us that he has not responded to at least six separate letters, including an invitation to come to this hearing. and it would appear, john, that also chairman, democratic chairman jim clyburn has not used his subpoena powers, and we are here staking out the hearing to ask where he has not done that, and of course folks out there would want him to do that
considering the fact that this governor was the governor whether 15,000 new york nursing home residents died from covid. fox news has been on top of this story from the very beginning, including when the attorney general revealed cuomo's health department undercounted the deaths, some still blame cuomo's emergency orders for causing the crisis. democrats on this committee will have to confront cuomo's blatant dodge as they seek to prevent a future disaster. republicans say new york's current governor must also face the consequences. >> we know governor cuomo was the worst governor in america, but kathy hochul also needs to be held accountable for this. she promised nursing home family members they would have an investigation, she has failed on that promise. >> and just a remindser, john,
if the gop takes back the house and they will have unilateral subpoena power to bring cuomo in. john. >> john: thank you, sandra. >> sandra: the federal reserve signing off on another big interest rate hike, it happened at the top of the hour in an effort to bring those prices down. 40-year high inflation, comes as ford joins fedex and mcdonald's about their warnings of the u.s. economy, that inflation is pushing supply costs $1 billion higher than expected. the host of the coin stories podcast, great to have you here. we see you on "outnumbered" earlier, and all things the economy and at a point in time when there's a modern way to look at how we can invest in a pretty complicated market en unique way of looking at things. your reaction to the news here and how people can play this. you so much for having
me. what's sad is we cannot save in this country any more. savings have been destroyed by inflation,n, and it's accelerat as a result of the pandemic and more and more money printing and our economy cannot sustain high interest rates. we have had monetary policy over the last several decades that have flowed free money to capital markets and it's created a ton of wealth concentration. it's no surprise we have the populous uprisings and people want power back and looking for a political saviour. the problem started with the federal reserve keeping interest rates artificially low and not allowing capitalism to take hold. >> sandra: you have a white house that likes to tout when the wages go up. wages have been going up under the current administration, you know, you can look at a chart and like this, however, as the wall street journal put out, inflation is more like this. what good are the rising wages if they are gobbled up. you can make the case they are
xag exacerbating the inflationary environment. this is some of the sounds from the big name ceos where they see the economy going next. >> expecting a more challenging 2023, certainly in europe but i think globally. i think we are headed into probably a hopefully minor recession in the u.s. and probably a more significant recession in europe. >> we are seeing that the volume decline in every segment around the world, and weekly numbers are not looking so good. so we just assume at this point that the economic conditions are not very good. >> sandra: people have already taken a hit to their 401(k), it will take a while to get better, but investing, a buyer and a seller for everything and always alternative way to address your financial situation. you're big into bitcoin, what your podcast is about, and expertise. how do you use your expertise in that and look at this current
environment? >> it's exactly that. it's an alternative parallel system to escape some of the ravages the monetary policy has created. again, in wealth concentration. and why young people are passionate about crypto, it's a revolution, we want to burn the current system down. one in which we don't have a seat at the table, houses are too expensive, stocks are too expensive, and probably what, 25% of companies right now are zombies, they rely on easy money and cheap financing, and that's not a way to create prosperity for everyone. our current financial system is so divorced from the founding values of this country, individualism, freedom, we want to bring about freedom money, one that's divorced from the state, one that you control and you control your own wealth, your own destiny financially and why so many of us are passionate about it. the first form of money decoupled from the state, and
finite. >> sandra: if you have not gotten up on it or read into it, you should. finish off with the dow, serious reaction going on and look at that chart of the dow, sort of hung out in positive territory until the fed decision came out and immediately went lower by a couple hundred points. when the fed announced what it was expected to announce, three quarter basis point hike. stayed down and then look at this, it has turned around and a lot is because federal reserve chair powell is speaking right now, and i believe that he's talking a little bit more optimistically about the future of the economy and that he believes he can get inflation under control. >> well, right, he has to, we are teetering on the brink of economic collapse. a global delevering rapping, bringing down assets, and right now he has to thread the needle a little bit and they are always trying to make it sound better than it is. we are barrelling further and
further into recession, and housing sales slowing down more and more, the problem is, they have to step in and always print. we have to because of the debt and why a lot of people are looking for an exit out of the system. >> sandra: really interesting. he's saying we need to see a softening in the labor market in order to get splags under control. robert wolf and steven moore were here earlier, and it's tough to bring inflation down if you have full employment. so the idea you have interest rates go up, make the cost of everything go up, dampen demand but could be a jobs killer if he chooses to be aggressive at tackling inflation. >> you can't bring down the interest rate or the inflation, rather, without having a recession. we saw recessions in the 1970s and in 1980s people don't realize before volker raised he also lowered the interest rates because of a recession.
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>> it's hard for me not to conclude it's a political hit job. this looks like gross overreach. it will make people sympathetic for trump, this is a strong desire to punish trump. >> that was bill barr on this program a short time ago slamming new york's attorney general, letitia james filing a lawsuit accusing former president trump and his family of fraud. david lee miller is live in new york city. any more reaction from the trump family, david lee? >> there's has been. if the attorney general does get her way, trump's real estate empire in new york will no longer remain in business. james, a democrat after re-election, announced her office is filing a civil suit
against the president and his sons, don jr. and eric and ivanka that they fraudulently inflating the value of their real estate by millions. they did it to obtain lower interest loans and other benefits. james want to bar trump and his family from the state. she's calling for a five-year ban from dealing in new york's commercial real estate as well as barring trump and his organization for applying from loans from any new york financial institution. the a.g.'s office is seeking $250 million in restitution. former u.s. attorney bill bar speak ago short time ago here on fox who served under trump says the lawsuit is politically motivated and without justification. >> there's times when people may be conducting legitimate investigations in to some of trump's actions. but this is not one of them.
it's true that there's a lot of long knives out for him. people tend to go after trump, target him unfairly, apply different standards of justice. when that happens, it has to be called out. >> trump who has called the investigation a witch hunt, responded on a post on his social media website saying a short time ago that new york is a disaster in great measure because of the attorney general and high crime and other problems in the state, he should not be going after her. back to you. >> sandra: thanks, david lee. >> john: according to or new fox power rankings, one of the most competitive house races is in kansas's third congressional district. the democratic incumbent is hitting her republican challenger on abortion access. let's bring in amanda adkins. she's the republican candidates. amanda, good to spend time with you. you're in a rematch from 2020
with charice davis. you're up one point. it's an rmg poll from july. 46% favor you, 45% the democrat. the district has been redrawn in a way that favors republicans. how do you turn around your fortunes from 2020 and win it this time? >> i'll tell you that what has changed most significantly in the third congressional district in kansas is the environment. when i made the decision to run again, it was because i knew that joe biden would take the country in the wrong direction. i could not have imagined that we would be in the place we're in today. when i'm out in the community, i ask people a question. it takes me back to ronald reagan. are you better off today? what i hear from people in the district is that they are not better off today. it all does start with inflation. in the third congressional district right now, the inflation impact to an average household is now roughly 8,600.
$8,600. it's not lost on them that a major driver of that, there david's votes. she voted for the american rescue plan. she was warned by left-wing economists even that that vote, it would go down in history as one of the worst policy decisions of a administration and it has directly contributed to the suffering of people in our district. so -- people are looking for change. >> john: so let me ask you this question. it's the same question that i asked tim scott awhile action. when you look at inflation, the economy, jobs, gas prices have stopped falling for all intents purposes and could go back up again. republicans should be winning all day on that message and yet democrats are making great inroads in the national poll by focusing on abortion and the dobbs decision. how do you counter that message? >> well, the dobbs decision essentially returned abortion policy decision making back to
the states. i did release a message out to the public soon after that that i think that it is a state issue, that i do not support a federal action on the issue. i do not support a federal ban on the issue. but comparison, my opponent, davids, is very extreme on the issue. she supports partial birth abortions, she supports taxpayer funding to be used for abortion. when we get to the election day, this cycle, it's going to be about the everyday lives, impact to every day lives for people. people in this country, i continually hear they're worried about the economy, they're worried about the impact of what we do today to future generations and they really are worried about safety and security as well. i made a tour at the southern border here two weeks ago. that also is an important issue right in the heart of america. >> john: yeah. there's no question about that. so let me just ask you this question since you do not
support a federal law on abortion. did lindsey graham harm republicans chances to get away from the democratic messaging by unveiling the bill that he did last week? >> again, most people in my district are not paying attention to what lindsey graham is doing. they're paying attention to daily life. it really does come back to grocery prices. i mean, the price of eggs in my district is double. the most important thing is 8,600, paying for the same goods and services in comparison to last year. that is a really big problem for most families in america. they just can't afford the policies of joe biden andcharice davids. >> john: thanks, amanda. we'll keep watching the race. we also envied charice davids as well. >> thanks for having me on. >> john: sandra, that brings to
us a close this fine wednesday. >> sandra: very interesting conversation there. real quick look back at the dow. continued reaction to the interest rate hike at the top of the hour. >> john: it's back up again. >> sandra: look at that wild swing. >> john: the dow needs lithium. it's bipolar. >> sandra: all right. great to be with you, john. thanks for joining us. i'm sandra smith. >> john: i'm john roberts. "the story" starts right now. see you tomorrow. >> martha: thank you very much, john and sandra. good afternoon. i'm martha maccallum in new york. take a listen to the new york attorney general, letitia james over the past few years. watch this. >> no one is above the law including this illegitimate president. and so i look forward, i look forward to going into the office of attorney general every day suing him, defending your rights and going home. >> i