tv Cavuto Coast to Coast FOX Business May 17, 2021 12:00pm-2:00pm EDT
♪. stuart: look at that, the market still on the downside, perhaps even bigger news right now, bitcoin has dropped back to $43,000 per coin. that's down 13% that is a selloff and a 1/2. jackie deangelis in for neil today. jackie: thank you, stuart. i'm jackie deangelis in for neil cavuto. this is cavuto "coast to coast." 2021, the new 1979?
we'll ask former reagan advisor, art laffer. governor andrew cuomo says new york state will adopt the guidelines later this week. boosting wages to get more workers. mcdonald's, walmart among several major companies turning to higher pay to hire more hourly employees. we'll get reaction from former mcdonald's usa president ed rensi later this hours. inflation fears are growing for the white house, biden administration is getting ready to roll out the first monthly payments of the expanded child tax credit. hillary vaughn is on capitol hill with the very latest there. hi, hillary. reporter: jackie, starting july 15th, the irs will start sending monthly payments millions of parents turning the child tax credit into a monthly allowance for parents first time ever. the irs estimates 39 million households will cash in on the government payments every month.
the money will be directly deposited into qualify families bank accounts. if that is how you received tax returns in the past there is an option to let parents opt out of the monthly payout, instead get a lump sum when they file taxes. president saying today in a statement, quote, with today's announcement, 90% of families with children will get the new tax relief automatically starting in july. congress must pass the american's families plan to insure that working families will be able to count on this relief for years to come. biden has agreed to extend the extra money for four more years from now but some democrats on capitol hill want more. speaker pelosi saying in a statement we must make this lifeline permanent but some republicans worry that for free cash is not a lifeline but a job-killer for small businesses. >> the administration is now selling their american rescue plan that democrats passed,
rammed through con es why, signed into law really taking us in the wrong direction. it is not incentivizing people to work and things they need to do to have a healthy economy. >> 18 states are opting out of the expanded unemployment benefits they say are tempting people to stay home. jackie, they cannot opt out of this because these payments are hitting peoples bank accounts directly. jackie: they sure are. hillary vaughn on that. hillary touching on spending that is sparking inflation worries, comparison to 1979. look at this chart to show how high inflation spiked in the 70s and '80s. can president biden take a page from the reagan playbook to stop this before it gets any worse? let's get reaction from former reagan economic advisor art laffer. great to see you. let's start with the question of inflation. what should this administration
do? seems like they are getting out of hand and they're just saying we'll let it go there? >> you know you're right, the comparison is very close. when we took office on january 1st, 1981, the inflation rate was double-digit. we had a prime interest rate of 21 1/2%. it is an economy killer. they ever looking at something like this. it could happen. now all the inflation indicators are not bad but some of them r gold has been rising quite substantially. all these raw material prices have been rising. i think it's a fool's errand for them to pretend there is no inflation threat it. there is an inflation threat and it is not guaranteed but one of the problems, jackie, they're encouraging people not to work. when you look at this through energy prices, there all the things are very similar to jimmy carter, if you have fewer goods available, the price of those goods will go up. if you give spending power to people who don't work and you have fewer goods available, they
will all be bidding for those goods, you will get higher inflation. that is exactly what's happening. i am very concerned about the long-term future of this economy over the next two or three years. i'm very concerned about it. jackie: as far as the administration is concerned and also the fed, it seems that the expectations on inflation it is transient, right but if you're a consumer like you and me art, you're going to the store, you fill up at the pump, you feel it. i really worry about it here in new york because i feel the price rises what we've been through as a result of the pandemic in the city, those prices will not come down soon and i'm talking about everyday kinds of goods. the second layer to this is what you're describing here, this idea, i want to read to you from "the wall street journal" they say, quote, the risk is that as inflation expectations rise, they become embedded in consumer behavior and business decisions. workers demand higher wages to keep up with prices, no matter the underlying productivity. businesses pay to keep those workers and then raise prices to
compensate. so it is just sort of a vicious cycle. >> it is. well it is, it's a dynamic that feeds on itself, jackie. they're perfectly correct. some of the prices may be transer to. in fact a good number may be transitory but there are base prices rising that are not transitory. just to give jimmy carter, that administration its due, number one they did decontrol airlines. they did decontrol trucking. commissions on stock trading were decontrolled. all of them having very positive effects as you may know, we've cut the capital gains tax rate in 1978 by a dramatic amount. none of those things are proposed in this administration there are not any of those offsetting things jimmy carter did that biden is not doing. if inflation comes back, it will be devastating to the biden administration. something we can't afford are
having. the energy stuff, jackie. jackie: that is where i was going to go. >> wellhead price controls, making no one want to produce oil. excess profit taxes on energy companies. he had prices at the pumps way below market clearing prices where those long, long gas lines. this is not the right way to go. open up pipe lines. let things flow. take advantage of good, efficient energy markets. jackie: it is so interesting to me to watch what is happening a the pump, the colonial pipeline story is a focus. that is one issue but not the biggest issue. the reason the prices are going up ad the pump is because of the administration's underlying policies. then you have a problem like the colonial pipeline it exacerbates everything. this could potentially be a crisis. the administration doesn't say. we have to work it out there. look at average price according to aaa, $3.04. we're not even into summer driving season yet, art.
>> i know. let me make another statement. i don't mean to panic you, jackie, that is what i'm not on the show for, i enjoy being on your show by the way, when ever politicians make decisions when ever panicked or drunk the consequences are rarely attractive. this administration is uniquely qualified to make panicked decisions and having them be very detrimental. i'm worried how this administration would handle a crisis. that is really what terrifies me, what they're going to do, not what they have already done. i don't think this administration is capable of making good pro-growth, administrative decisions, helping economy out of this crisis. jackie: art we could have this conversation for hours. we could talk about the crisis at the border. we could talk about the crisis at foreign policy what we're presenting. >> we could the same with carter. jackie: unfortunately i don't have enough time to do that. i appreciate seeing you today, getting your take on these couple of issues.
everyone out there should catch more from art this afternoon on larry kudlow's tax to the max special, 4:00 p.m. eastern time here on fox business. maria bartiromo, stuart varney, charles payne, will join larry throughout the hour. don't miss it. the next question to mask or not to mask. companies are debating whether to follow cdc guidance on vaccinated people no longer needing to wear masks. grady trimble has the break down where companies stand right now. grady, it's a little confusing. grady, good afternoon. reporter: it is, mass mask confusion is a good way to put it, jackie and different businesses are coming down on different sides of this issue. can you hear me, jackie? jackie: yes, brady. reporter: anyway, small businesses grappling, small
businesses grappling with this decision and this is one of them. gene and gergeetti. new york steak hughes. you want guidance. here in illinois they're waiting for rules to follow. they haven't come down yet. >> that's correct. we're waiting on the word from the city whether or not they will align -- they said though will always align with the science but nothing specific, whether or not vaccinated guests can remove their masks in a restaurant. reporter: while we wait for that, you're taking down the outdoor dining structure you set up to go through the winter. now things are warming up here. business is improving even though here in chicago social distancing still in place, capacity restrictions still in place and as of this moment, mask requirements still in place. >> that is exactly right. we're feeling a lot of hope. people are walking around. people are coming into the restaurant. confidence is coming back. people are confident going out in the world.
we are happy to be inside. reporter: we are too. we caught up with you during the pandemic. things are looking up. one thing we notice, people making a decision on their own, even if the rules are not coming down from the state or the city on masking. people are saying you know what? i'm vaccinated. i feel protected and comfortable to go out in the world to live my life again. of course that is good for businesses as well. jackie: absolutely is and people are making those decisions. grady trimble thank you so much. meantime new york governor andrew cuomo just announcing that new york state will adopt that updated cdc guidance starting this wednesday but the big question of course is how it is all going to work. joining me on the phone is republican rockland county executive ed day. ed, good afternoon to you. the above is now saying wednesday he will adopt that cdc guidance but my question is how does this apply to businesses? how are we working as a community, inside, outside? there are a lot of differing
views on this especially within new york? >> first of all i want to acknowledge my colleagues who worked together to encourage the governor to follow cdc guidelines, county executives, also duchess, and suffolk joined rockland county. how it would work is this. this is why you need to have a cdc. to have one consistent effort what we're going to do. we have the president of the united states endorsing it. the cdc put it out. now the state thankfully is following it. as to relates how it will work out what i would say simply this, stories and businesses as always have a right to allow people in. all of us gone to stores where you need a t-shirt, can't wear sandals unless you come into the store. the stores are there to make -- walmart said no masks are necessary. other stores are not comfortable. if you are not comfortable, wish to wear a mask by all means do so. we have to take steps necessary to continue on this journey of going back to normalcy.
that i think what the cdc has done. they did the science, data, that is what they're looking at. that is what we should rely on, not personal feelings at this point. jackie: it is common sense what you said. if i'm not comfortable i want to wear my mask indoors i can. people say if i don't wear my mask, how do i know who is really vaccinated? this is supposed to put me on the honor system. it doesn't, if you take your own precautions based on your comfort level, right? >> you said it remember properly, jackie. that is it. there is no perfect answer in an imperfect world. the fact of the matter most people follow the rules whatever they may be. most people engage in common sense, what that may end up being in any circumstance. so we can't, we cannot be frozen in time while personal concerns run the show. this is why we were as county executives looking at people very confused when the governor said, which he said before you always follows science opted not
to follow the science. jackie: right. >> glad he stored it all away. that is important. if you're not comfortable, by all means put a mask on f you're a business, you have not reached a comfort level, you can exclude people without masks, that is entirely your prerogative as a business person. let it play out, and it will work out just fine. jackie: i think it was a little frustrating for new yorkers the was saying follow the science and he wasn't following it. people thought there was no rhyme or reason why we're reacting prolonging a crisis when we weren't in crisis mode anymore, ed. we'll see how it plays out. appreciate your time. thank you. always great to talk to you. thank you. meantime americans are feeling a little pain at the pump. states up and down the east coast are feeling significant gas shortages. we're tracking that progress after this.
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>> my kids have got to eat. i got to get places. i know only two weeks left of school but we still have to get kids back and forth. jackie: welcome back. pain at the pump persisting. more than 12,000 gas stations across the united states still without fuel following the colonial pipeline cyberattack. meantime, there are concerns that this fallout is going to continue, even into the memorial day holiday weekend. edward lawrence is at a gas station for news d.c. with the latest. edward. reporter: yeah, jackie, one of the hardest places to find gas in the entire nation is right here in the nation's capital. this gas station behind me is out of gas. there is diesel but no regular gas. gas buddy said, 67%, 2/3 of all gas stations in d.c. are out of gas. if you're lucky you will find a station like that, which does have gas at pumps at this moment. that is what people are doing a gas scavenger hunt to find a gas station with gas.
colonial pipeline has the gas going full blast. gas is going through it. the company says it will take some time for the supply chain to catch up. a aaa spokesperson i talked with they hope it happens this week. >> take as number of days to have the pipeline restarted. get the fuel trucked from pipeline to terminals, terminals to gas station. 2 will be a lot quicker than with we've been seeing in the past few days. reporter: what she is talking about the percentage of gas stations without gas will go down eventually. for example, take a look at this, see how gas buddy, where they're saying the outages are. 2/3 or about a third of the stations in virginia are out of gas. about the same in maryland. 52% of stations in north carolina. about half in south carolina and 41% in georgia. the percentages will start to go down but gas prices historically do not fall as quickly. the national average for gas is as high as it has been since
2014 when barack obama was president. jackie, i want to show you one interesting point posting on twitter, see, fire up the flux capacitor in that delorian where gas was 75 cents. memorial day is coming back up. you bet consumers would love to see that. gas prices don't fall down as quickly as they go back. jackie: the delorean a little over a year ago. how crazy things would be. thanks very much for that. top biden administration official are saying pipelines are the most efficient way to move petroleum, listen. >> we have doubled down on insuring there is ability to truck oil in, gas in. but it is, the pipe is the best way to go. >> certainly talking about the efficiency of moving petroleum products, that is why we have
pipelines. jackie: joining me now, market experts ann berry and hal lambert. you're big in the energy state of texas, i've been looking at energy for many years. so i roll my eyes at this, because we've known forever, pipelines are the most efficient way to move our petroleum products around and this administration is just now saying it. one of the first things they did, yeah, we don't want to continue with the keystone. >> right. it is really an absurd policy stance to take especially basically day one of this administration was to cancel the pipelines. look if you cancel pipelines and you tax energy companies more and you regulate energy companies more, you will get less energy produced. it's that simple and you will end up with higher prices. why we have year-over-year gasoline prices are up over 60%. they're up over 30% year-to-date. they will probably go higher because the whole point of this administration is to reduce energy production in the united states which just means it goes
all offshore. you end up with less environmentally friendly policies overseas producing the same energy we need, shipping it across the ocean, bringing it in here. making us susceptible to hacks and to other problems overseas which is, what the government is supposed to be trying to eliminate. what have they done about this pipeline hack? they acted like this is a private business, that they don't have any control over it. this was clearly the russians. the russians want higher oil prices because they're a petrol state. we have to be able to respond to this. jackie: when you look at the confluence of circumstances here, ann, to hal's point, we're dealing with an administration changing energy policy over all but the hack on the pipeline. this shows you how vulnerable our system is. this is not the time to hand over the reins, putting ourself as subjects to foreign powers to that supply us with energy. that is exactly what the strum
administration didn't want to do, it totally reversed course. biden administration, wants to go back in time and so many americans are asking why are we doing this? >> another question needs to be asked, jackie, this is where i have a different position from hal, focus on infrastructure has to focus on digital infrastructure and cybersecurity. not this wasn't about keystone, it was about cybersecurity was insufficient. part of the way the national defense policy needs to be crossed going forward insure there is sufficient investment sure there are the skills, the education, and the financial resources behind insuring that pipelines and other critical forms of infrastructure have the right digital insider protections as well. jackie: yeah. of course we're watching the stock market as well. we're seeing stocks are slipping for many reasons. we've got inflation worries kicking off this week and also
we've seen that wall street is coming off the worst week since february, watching what is happening here with the gas situation as well, hal. what are investors to think as we're heading into the summer? they're reaching into their pocket to pay for things, it costs them more. they're worried about the future when this economy was on track for a gangbusters reopening after the coronavirus pandemic but that may not happen? >> policies matter and when you look out, this is all started when you have the terrible jobs number, that was 280,000 jobs created when they were expecting a million. you follow that with inflation that is just off the charts, 6.2% producer price index which was the highest since they kept records. you follow that with potentially higher taxes on everyone including obviously corporate america and you're going to have a pause in the markets. this has to be solved. it is still solvable. 18 republican governors said
we'll cut off unemployment extension benefits so that gets people to work. democrats are not on board with the tax increases. we can still move forward. until we get clarity around those things i think this market is on pause and potentially goes lower if those other things happen to stymie the growth in the united states. jackie: it amazes me, ann. i took my first trip internationally over the course of the week penned. i was able to get to an airport have the experience. the airports are literally jam-packed. air flights are full. people are traveling, a, because of the pent-up demand for it, but b, you have this situation where essentially until september at least a lot of people are still out of work and they are reaping the benefits of checks coming in. >> well there is something else going on here, we should talk about inflation. there is enormous pent-up demand but there is also a issue of supply shortages. that is just not on the labor
front. because manufacturing plants globally are still dealing with supply chain backlog. because there has been restrictions in the amounts of commodities that can come to market and it is also safety precautions. the world is reopening but there is huge relief there being a vaccine but not all the working population are comfortable it is safe to go back into the workplaces with a lot of population density in those work spaces. i think it is very complicated. jackie: do you think it is that, ann? do you think people are scared? i talked to so many business owners they can't hire, anecdotally they spoke with people has nothing to do with the fact that they are scared of coronavirus anymore. it is absolutely to do with the fact they collect extended benefits. why should i go back to work when i'm getting paid more to stay home. >> that is some, not all of it. the fact there is not abundance of available child care. that is huge wave of families and parts of the working population who would love to go
back to work can't because schools are not fully reopened yet. they have not been able to find child care because of safety concerns. it is more complicated issue than unemployment support. jackie: gang, you will be back with us later in the hour. thanks so both of you for that. after the break we'll talk about major retail giants, they are boosting wages to hire hourly employees. the question how small businesses compete to fill their own staff shortages. we'll ask former mcdonald's usa president ed rensi when we return. our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... hey, graduation selfie! well done!
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they're offering a reward for those that show up for in-person interviews. fox business's lydia hu in clark, new jersey with the details. hey, lydia. reporter: jackie, it is called acts for apps. applebee's is launching a problem, anyone can walk into any location, fill out a application for a job and get a voucher for any appetizer to use in the future. the chain is trying to recruit 10,000 workers across the country. it is challenging for the restaurant industry to find workers a lot of people are saying unemployment benefits encourage people to stay at home than reenter the workforce. applebee's hopes this gives extra incentive for people to come back out of their homes and get a incentive to look for a job. here is the ceo. >> doing what is required to attract talent and maintain
talent is important. march and april are record months, our team members are making good money. that pleases me because a lot were furloughed in 2020. they were patient with us. they came back to us. reporter: restaurants have been one of the hardest hit industries during the pandemic. with this worker shortage, applebee's is joining other major chains that we know have been launching incentive programs, signing bonuses to try to attract new workers, next generation of workforce. mcdonald's, kfc, firehouse subs, taco bell have incentives. applebee's is joining them. this is seeing job openings as we see the reopening of the economy out of this pandemic. the good news for applebee's is that since they started promoting the program they have seen a lot of interest in it. they have gotten about 40,000 job applications in the door. we've been here at the restaurant in clark, new jersey all morning.
we've seen a steady stream of people coming in, filing applications, sitting down for an interview on the spot which seems to be encouraging news, jackie. jackie: seems encouraging to me, jackie, don't want to put you on the spot, the diners are not scared to come out to eat without their mask on but people who are supposed to be working in the restaurant seem to be scared of the pandemic still yet with an incentive like this all of sudden gets that foot traffic up. isn't that interesting? reporter: it is interesting. one question that i have with the specifically to the restaurant industry is whether restaurant workers want to come back to the restaurant industry at all or maybe looking for jobs elsewhere. we'll have to wait and see. jackie: pretty soon they will have to indeed be looking for jobs. i think that is an important part of process. lydia hu, thank you so much for that. time to forget about free food for a moment, how about a little more cash? amazon, walmart, mcdonald's major companies that are looking to boost wages to attract more
hourly employees. to former mcdonald's usa ceo ed rensi how businesses compete with this. ed, always great to see you. we're in such a tough spot right now. lydia set that up perfectly, people want to be out and about, in restaurants and businesses are struggling to get employees back in the door. either they have to pay them more. they will have to work with gimmicks what applebee's is trying to do to get people into the door and put their aprons on, get back to work. but it is hard to compete with the benefits that the government is going to give you. >> it is difficult. i think mcdonald's and these other companies have done a brilliant thing. increases wages and focusing on careers and not just jobs is really important and i think they're making a statement from a marketing standpoint. the pandemic has been very difficult. 160,000 restaurants give or take a few have gone out of business permanently. government subsidies for income
have really stifled people seeking jobs. so it is a combination of disruptions. i think it will sort itself out. i think mcdonald's has always along with a lot of other companies like fat brands, burger king, wendy's, the rest of them focus the on careers. a lot of mcdonald's franchisees used to be hourly workers. i was a ceo of a company, started at 85 cents an hour, worked there for 35 years. it's a great career path. it is about careers, never about jobs. jackie: how does this sort itself out? walk me through the process. from what i understand, i have never run a corporation but i imagine your costs go up for the raw materials, for the food, for example, your labor costs go up. you have to pay people more to work. all your costs go up. that means that you have to raise your prices. when you raise your prices you pass it on to the consumer. how is it that you know, at what point do we pull back from that because there is a tipping point. when prices go too high it is
chilling, consumers start to say maybe i don't dine out three times a week, maybe once a week, maybe i don't do it at all? >> you know my experience anytime government creates artificial floors or benefits it becomes very, very inflationary. cost of goods sold in restaurants is about 30%. occupancy costs about 30%. labor all-in is about 30%. that gives you 10% margin, 15% return on investment. you have to raise prices or you will lose the margin. prizes will go up. short-term the employees benefit. long term you have to deal with inflation. that means price increases. i can tell you anytime when i worked in the restaurant industry directly, raise prices 1% you lose 1% of your transaction counts. look at restaurants back we were doing 2 1/2 million dollars in 2000 in sales, we had 45 to 50 employees. today we're doing the same amount of volume, a little bit more but doing it with 35
employees. we replaced employees with digital applications, with robotic opportunities and so on. so we're always going to find a way in this country to balance the equation between salespeople and profit because without great people you can't get sales. without sales you can't have profit. jackie: that is a really great point, you know, how to balance the business. when i think of a major business like mcdonald's for example, i think of a mom-and-pop smaller medium-sized business though, i think they will have a different experience navigating this, right? mcdonald's is going to be better set up to get through it. >> yes. jackie: whereas the smaller, medium-sized business may not be as equipped. >> that's why the vast majority of restaurants have closed that were small, independently owned restaurants. they didn't have the resources to cope with shutting down dining rooms, moving to drive-throughs, delivery, pickup, curbside. they didn't have outside dining of any kind t was a tortuous
process the week, it settled out weak will be there with the strong. i think one of the great things about this, mcdonald's owns 5% of the restaurants. 95% are owned by franchisees, they're scattered around the united states and around the world. they will do what is necessary to survive, pros officer, grow and take care of their communities. if they don't take care of customers they have nothing. jackie: the american superiority that keeps us going. ed, thank you so much for that. meantime i want to remind viewers coming up next hour oklahoma republican governor ed stitt joins us on "coast to coast" with exclusive announcement about jobs and unemployment benefits in his state. still ahead this hour the democratic divide over israel is putting strain on the biden administration. the latest from capitol hill after this. ♪.
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♪. jackie: the divide among democrats over the conflict in the middle east. some progressive lawmakers are backing the palestinians while others in the party are backing israel. fox news congressional correspondent chad pergram has the latest for us from capitol hill. hi, chad. reporter: jackie, well there is a growing chasm among democrats between those that support israel and liberal voices that stand by the palestinians. members of the squad question what they call automatic funding for israel. >> the president and many other figures this week stated that israel has a right to self-wednesday defense, and this sentiment is echoed across this body but do palestinians have a right to survive? reporter: top democratic leaders like chuck schumer, steny hoyer, long defended israel. so here is the question. is there a split between liberal voices and the old democratic guard? >> i don't think so. look, i think again most people recognize that the violence that we're seeing has to end.
that the loss of civilian life is horrific. that the palestinians and the israelis have a right to lives free of violence in peace. reporter: even the administration is torn. >> this is not an israeli privilege or a palestinian privilege. it is a human right. and the current violence has ripped it away. so we've been working intensively behind the scenes to try to bring an end to the conflict. reporter: the biden administration has not yet named an ambassador to israel but one senior gop source says they know the name and are pleased but a controversial pick could inflame the left if the administration sides too much with israel. jackie. jackie: chad, if i can ask you what you're hearing on the ground there in the halls, the kind of rumblings on this issue per se because we weren't seeing violence like this for a very long time. we weren't seeing it under the
previous administration. here you have hamas, essentially getting support and funding from iran and you have got the current administration drastically changed its stance with respect to how it is dealing with that country. is anybody saying anything about that or the timing of all of this? reporter: frankly caught a lot of people off guard here on capitol hill. this came out of nowhere. a few minutes ago, jen psaki the press secretary dried to drive down both sides of the street whether siding more with israel and siding with the palestinians. also saying she respects the views of democrats that have different views, some aligning more with the palestinians and more with the israelis but one thing this is probably going to do call into question a recalibration of the iran nuclear deal. jackie: absolutely t would have to. thank you so much for that, chad pergram, always great to see you. meantime elon musk is sending bitcoin prices on another wild ride. we have got more on that after this. ♪
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what does it mean for the industry and how will the company look under new leadership? give us details. >> last october i believe it was, time warner was at least, at&t was at least thinking about spinning off cnn, so i'm kicking myself in the rear end not getting this story. the storyline then was if they did so it would be difficult to dison it from the broader company. as you know now they sold the entire broader company, time warner, not just cnn, hbo, essentially spun it off with a joint venture with discovery. what is interesting about this, it automatically makes a lot of other companies including ours, fox, a lot smaller in comparison. it gives, it gives, david zaslav. people think he is a very good
executive. go through the losers and winners. david zaslav is a winner. they have a 60% stake, but they still get $50 billion to pay off debt. zaslav bams the ceo. after jamie dimon became ceo of jpmorgan chase and after they bought bank one. the other winner is jeff zucker. everybody thought he would be looking for a job, or looking for a job, being out of a job this year because he did not mesh with the at&t management. he is very close with zaslav. if he wants to stay a lot of people think he could stay. a big winner out of this. the losers are interesting. one guy jason color, head of time warner, he was heralded last week in the media as some king-maker at time warner. he is now according to zaslav -- reporting to zaslav. interesting how his fate turned in the mia in one week time.
the big loser, ran dal stephenson. i can't wrap, the ran dal stephenson put together the deal that has unwound. one more loser is potential, john stock john stanky. he was behind with randall stephenson, which they fought in court against trump and directv, another big loser. this is a firm, at&t, company, known for bad deals as you can tell. back to you, jackie. jackie: so interesting, charlie, to see how things can change literally in a new york minute for people as you're sort of laying out the playerers and how this will work. thank you so much for bringing that to us. we'll talk to you soon. meantime bitcoin prices are rebounding from a three-month low after elon musk clarify as tweet over tesla's bitcoin holdings. we're back with our panel, ann
berry, hal lambert. ann, start with you. musk was behind bitcoin and walking it back and is wondering why everyone is confused? >> yeah he does definitely move bitcoin prices with one character at a time, jackie. i think on this one there needs to be clarification that two separate things have happened. first of all tesla came out we'll take bit own as a means of payment for our cars. then they came out they won't do that anymore because it is not environmentally friendly and tesla marketed itself as environmentally friendly means of car ownership. this step away from using bitcoin is consistent what tesla wants to achieve but important for us musk to clarify that tesla has not sold a bunch of bitcoin. even though it is not taking it as means of exchange it hasn't let bitcoin as means of value storage. that is two separate things. that clarification was important for musk to get behind.
jackie: that is interesting because musk was on "snl" and hold dogecoin thing as well. take a step from him and talk about cryptos in general and people looking at them as a hedge in inflation right now? >> i mean i like about it coin. i think bitcoin will be obviously volatile. we've seen that for the past decade bitcoin has been volatile and i do want to speak to musk real quickly because i think there is an added point to this. the governments around the world don't like bitcoin. elon musk has to deal with china, he deals with the u.s. he might have gotten a tap on the shoulder saying we're not liking you hyping bitcoin and lying these cryptocurrencies. it is not in the interest of governments. that could very well be the case. i could tell you the environmental excuse is not the reason. his cars in china, china's power plants are powered by coal. 67% of the electricity in china comes from coal. so if he is worried about the environment his cars are not helping the environment in china. jackie: yeah. >> that is not really a good reason to say he is not longer
interested in bitcoin. jackie: he is an interesting character. we'll talk more about it. hal, ann, thank you so much for your time. meantime the cdc refusing to drop its mask guidance for children in school. why some say it is time to free those kids from the mask-wearing and why that time has come and gone. ♪. ...
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>> welcome to the second hour of cavuto "coast to coast", i'm jackie deangelis in for neil cavuto. a look at some of the top stories this hour. they are fighting the feds on everything from masks to jobless benefits. i'm going to talk to republican oklahoma governor kevin stith, who will make a breaking news announcement here on "coast to coast", plus growing suspicion around the lab in wuhan institute of verology. why more scientists and official s say the coronavirus lab leak theory is in fact plausible, and new details on billionaire bill gates breakup with both his wife and the microsoft board. lots to get into but first, the new cdc guidance on mask- wearing causing confusion across the country and states with companies as well, still debating whether to unmask while the white house grapples with getting vaccines to poor countries as well. mark meredith has the latest on all of this for us. good afternoon, mark.
reporter: jackie, good afternoon to you in the next few minutes president biden is expected to announce that the u.s. is going to be sending more doses of the coronavirus vaccine overseas , even more than originally planned. we don't know exactly where those doses are going to be going but that 80 million of them will be going out. this all comes as the administration trying to get the country out of the pandemic passed with the new mask guidance that you were just talking about. the cdc has new guidance that says fully vaccinated people can resume activities without wearing a mask, also with physically distancing, a separate required by federal state, local, tribal and territorial laws, rules and regulations including local businesses and it's a long statement but a lot packed in there because it gives us an idea of what's happening across the country. so these are now recommendations now private businesses including the country's largest chain stores, they're trying to figure out what to make of all of this. starbucks, walmart, cross could are all allowing vaccinated customers to shop mask-free and targeted joined that list
earlier today, given the cdc updated guidance target will no longer require fully vaccinated guests and team members to wear face coverings in our stores except where required by local ordinances but that's the confusion because we've heard from a number of governors that say they didn't know this guidance was coming out and they are arguing the administration should have provided a heads up. the former surgeon general is among those praising the move to lift the mask mandates but also criticizing how it was communicated. >> made the right play call but they fumbled the ball at the one yard line. the communication was just quite frankly abyss mall on this. reporter: the white house asked about this a few minutes ago at the briefing the administration says the cdc is simply trying to get the most up-to-date information out to people as quickly as possible but a lot of people are trying to make sense of all of this , jackie? >> thank you so much, mark, meanwhile the cdc director telling fox news that while vaccinated adults can take their masks off kids in school have no such luck they have to stay mask
ed until the end of the school year joining me now independent women's forum hadley heath manning, whose op-ed ran in usa today and writes the science suggests that yuck children do not transmit covid-19, even new variants of it in a significant way. the time to free on children from mask-wearing has come, and gone. hadley, when we look at freeing adults from mask-wearing it took a lot of time for the cdc to get on board so many people are sitting back saying i'm not really sure if i trust the cdc, why should we trust them with the advice on children right now >> well, we should follow the science, right and the science has told us since last summer that young children, that is children under the age of about nine or 10 are not significant drivers of the pandemic. they are less contagious, less likely to be infected less likely to be sick, so, when it comes to masking this is why the world health organization for example, says no children under the age of five should be required to wear masks. i'm a mom with a four-year-old
and a son who turned three today , happy birthday, jack and an infant child. i don't think any of my children should be required to wear masks , of course i won't tell another parent that they can't put a mask on their child if that's their choice, but i believe this should be the choice of parents at this point. >> jackie: right and the children have always been, we were told they could be a symptomatic carriers of it and it's possible that they might spread it but this really wasn't a big issue throughout the entire pandemic. it really was older people, the vulnerable population, many of whom have been vaccinated by now, so the science, you're right, is saying if you've been vaccinated, you can resume your daily activities and go back to life and it almost seems like punishing the children. >> you know, the flip side of this too, and i do believe it has been a huge issue during the pandemic about kids in school and the sort of steps that schools have to take whether it's social distancing between the desks or putting masks on kids or what to do about teachers and keeping
teachers safe, whether we're doing virtual learning or in- person learning its been a huge issue but we have to look not just at the risk of covid infection or sickness related to covid. we have to look at the risks on the other side and we know that keeping schools closed has come with huge downsides in terms of kids learning, in terms of anxiety and depression in children, in terms of their ability to socially interact with their peers it's so important for kids that every stage of childhood, so we have to look at the flip side of mask ing as well and this is an area that deserves more study and we need to know what universal masking is doing to children whether it's affecting their fear and anxiety levels or language development in the youngest children, social referencing skills wearying nor ring some of the most important risks that come on the flip side when we take precaution against covid. >> jackie: taking it one step further stepping away from masks when it comes to children also there's a conversation about vaccines, right? should we be giving these shots out to kids of certain ages and i know the companies are working on that throughing to get the fda approval, but
there's a school out there that basically will say a school of thought that says, you know, when it comes to kids since they are lower risk maybe we should take our time a little bit more and see where this goes, see if they need to have those injections. what are your thoughts? >> you know, i think when it comes to the brand new covid vaccine i understand why a lot of people have hesitancy about it especially with children, especially if you're pregnant, i was pregnant earlier this year and i decided to wait until my pregnancy was over before even considering getting vaccinated, so that's really such a personal decision and i think parents should really have the first and most important say when it comes to what to do with your own children. i've vaccinated my children, with all of the other vaccines that have been a vail all and of course we'll think very, very carefully about any future vaccines that are available to them but it is so personal, i think that's really where i'll leave it. >> jackie: hadley, great to see you thanks so much for your time today. >> thank you. >> jackie: ohio lifted its mask
mandate for vaccinated people and now businesses have to decide what they will require for workers and guests. joining me now, tim adkins owns 10 restaurants in the state. tim you planned to drop the mask requirements when the mandates were lifted. now we've got new guidance here. how are you planning, how are you going to react to all of this? >> well, thank you for having me on today, jackie. we feel the vaccines readily available, and the cdc has stated that as long as you've been vaccinated that it's okay to go without a mask, so the restrictions on the upper deck, and leave the decision to the customer. and let them make their own decision as to whether or not they want to wear a mask. >> it's so interesting to me because we were talking about this earlier and it really comes down to what you're comfortable with, right? and a sense of personal responsibility. you could have a patron that feels like you know what this is
on the honor system i don't know if i trust all these people have been vaccinated so i want to wear my mask and there maybe other people that say i've been vaccinated, so i don't really think i'm a huge risk to walk into a restaurant without the mask. this all goes back to individual freedom and liberty, some people said that's the premise that we should have been on working on when we started the pandemic. >> well, i feel you've hit the nail right on the head. they said that it was okay to be outdoors and yet the governor to go out and make sure that people were enforcing and the people didn't like it, and it's nice to see some customers come back after they've been vaccinated that i haven't seen for 15-16 months come back into the stores and have a drink and say hey, we feel comfortable coming in now so the lifting of these restrictions is going to help us because people are going to feel more comfortable going out. >> jackie: tim i want to get to the bottom at least in your
experience of what is going on with hiring right now, because a lot of restaurants are saying we can't get the workers into serve everybody, and that you've had a hard time finding workers. what's causing this? there is one school of thought that says this is all about the extended benefits that government is paying, at least until september, and there are some people saying no, people are scared to get back to work. child care issues, what are you feeling, what do you sense is the biggest problem here? >> well, once again, jackie you've hit the nail on the head again. i know the president said trust the american work ethic they want to go back to work but if that's truly what he believes i think he's out of touch with middle america because the bottom line is if you're going to pay people to stay-at-home, come to one of the sports bar and grills and have a drink and that's what they do so that's why we need to stop the federal funding for unemployment, we need to stop the extensions for unemployment and then you'll see those unemployment numbers drop significantly. >> jackie: it's so interesting to me, tim because when he
signed the last package in march , things were getting better. we knew that the vaccine was on the horizon and the distribution was happening, yet they pushed it through anyway, and this is sort of the action, this is what's been happening. we thank you for your time and for sharing your experience for us today. meantime, president biden is being barraged by crisis from disorder on the border to the da sh for gas. we'll have the latest from the white house coming up after this. >> ♪ i'll meet you half way, right at the border, that's where i'm gone away, for you, i'll be looking out, night and day, and this is where i'll stay ♪ the world's first fully autonomous vehicle is almost at the finish line what a ride! i invested in invesco qqq
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not very flexible. not great at saving. you deserve better - xfinity mobile. now, they have unlimited for just $30 a month. $30 dollars. and they're number 1 in customer satisfaction. his number? delete it. deleting it. so break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes it easy to switch and save hundreds. jackie: president biden juggl ing a number of crisis, from rising inflation to gas shortages, and that's got many of his critics drawing a comparison to the carter years. fox business blake burman live at the white house with the latest for us there. good afternoon, blake. reporter: hi there, jackie good afternoon to you. you're right there are many republicans in washington making that analogy for example, the top republican in the house, the minority leader kevin mccarthy took to twitter in the recent days and said the following. writing, "six months ago america was energy-independent, now we
have gas lines, president biden is well on his way to creating another jimmy carter econ economy. " when you look at prices all across the country they are no doubt rising, when you look at gas according to triple a, the national average a tick above $3 a gallon, a year ago it was $ 1.87, and as we know, inflation , april, this past year to april 2020 year-over-year rose 4.2%. now over here at the white house , the press secretary jen psaki was asked a little while ago if inflation continues in the weeks and months ahead whether or not the white house would reconsider any of their spending proposals that they are trying to push forward as well and she suggested that would not be the case. watch here. >> the economy is turning back on. we take inflation very seriously the view of economists i would say around the country there's more that needs to be done to put 8.5 million americans back to work, to ensure that we are
getting working families working mothers the assistance they need , and to ensure we're competitive over the long term, so it has not changed our overarching objectives and approach and our proposals. reporter: jackie, here at the white house, they've been using a few different examples in the recent days for example, used car prices, used car prices were up 10% year-over-year. that made up a third of that 4.2 % inflation reading. jackie? jackie: it's interesting how they look at it, how they break it down, but consumers are feeling something different, blake burman, thank you so much for that. >> you got it. jackie: meanwhile the global supply chains crunches latest victim is the mattress industry, with the main culprit being a lack of foam. aluminum, chicken, lumber, computer chips also getting caught up in this supply disruption, to simpler trading director of options, danielle sh ay, and bank rate senior economic analyst mark ham merich on how the fear of running out is going to
impact the economy, guys good afternoon to you both, and that's definitely one of the problems that we're seeing here, this sort of hording mentality and i can tell you by the amount of hand sanitizer that i have in my house that i know even will go bad. we're buying things because we thought we needed them. why is this still continuing as we're heading out of pandemic crisis mode, mark? >> well, first of all, good to be with you, jackie. listen, we initially thought that this be a supply shock limited china, let's say last december, over a year ago and january over a year ago and low and behold the pandemic became obviously a global and essentially national and local problem, so we had production all across the world disrupted by the ability to staff these facilities and then of course, we had the disruption really the reshuffling of all kinds of demand. the hand sanitizer being one, the paper products being another , and now, all kinds of
things. just today, of course we had the home builder sentiment survey come out, and the home builders are saying essentially, their basic material costs are seeing double-digit year-over-year increases in lumber sort of been leading the way, so, this is the reopening of the economy on a global basis, and if we thought it was going to be easy, we're learning some other lesson s about that. jackie: that was a good way to setup the back drop of what we're going through here. danielle to you & companies and how they are sort of responding to this , you know, things happened as a result of the pandemic that nobody necessarily anticipated and as mark points out we thought they be short-term blips and they aren't so now people are having to companies and businesses are all having to readjust here. >> yes that's correct. they are readjusting and what we should know is that prices are going to continue going up, because of all of the different factors that both of you have just talked about and the way that companies are going to respond is by rising their
prices, because there's no way that companies are going to be the ones taking the hit. at the end of the day, what they need to do, their fiduciary duty is to make money, and if their costs go up, they're going to raise prices to consumers, so what consumers should know is that prices are going up for everyday goods and that means you should have to raise your budget and also potentially ask your boss for a raise, because this is not going to end anytime soon. jackie: okay and i want to bring this back to the thesis behind blake's report, from the white house today, because he played that sound bite of jen psaki and she was talking about trying to get people back to work. well, people aren't getting back to work and what we're seeing right now is they're not getting back to work and prices are going up and to me, the definition of stagflation is high inflation and high unemployment. is that where this is headed, mark? >> well we had one bad monthly employment report, and you and i , we all have been around long
enough to know that one month is not a trend make and the previous three months we added 500,000 jobs a month and we'll see whether that's revised , but i suppose that we would rather have the problem of employers saying they want to hire rather than them saying they don't. obviously, the federal reserve is betting a lot here, that this will be, you know, word of the month transitory, but consumers don't care whether it's transitory, because they have to pay this right now. jackie: they don't. >> and business leaders across the spectrum are doing that as well. jackie: but let's think this through sort of as we're having the conversation here, right? okay, the employers are saying that they do want to hire, but people aren't coming back to work, because the government is giving them this incentive to stay home, so what happens? now the company has to pay higher wages, higher wages means that your cost input goes up. we know that raw materials costs are going up as well. when a company, a business, a restaurant, whatever it is, has all of these higher costs it's going to pass it on to the
consumer, danielle. so now, i'm the consumer and i'm going out to eat and i'm paying a lot more. i might taper back or curtail my behaviors and then what happens is you've got this sort of vicious cycle of maybe a small business or restaurant whatever it is that can't stay in business, and we keep going round and round the marry go round. >> yes, jackie that's absolutely true and you know what i'm seeing actually is i'm seeing businesses that are replacing their workers with machines. take walmart for example,, last quarter walmart announced they are raising their minimum wage to $15 an hour, and i heard all around the country that walmart has started replacing their cashiers with machines, i mean, yes, for a while, businesses are going to have to raise prices and things like that but they're smart and they are going to figure out a way that they are not going to be impacted on the bottom line. jackie: fair enough but you start replacing your human employees with machines, because of higher costs. this is just what i'm trying to illustrate here is that it will come back full circle to the
labor market. it's just going to take sometime and guys we're out of time so it's something we'll have to watch very closely and we'll have you back on to talk about it thank you so much. >> thank you. jackie: a quick programming note as well, be sure to catch larry kudlow's tax to the max special today, 4:00 p.m. eastern time, on fox business. you've got maria bartiromo, stuart "varney", and charles payne, they will all be joining larry throughout that hour, so you don't want to miss it. >> coming up on our show, what started covid-19? scientists calling for an investigation into the pandemic's origin the one suspicion they aren't ruling out >> ♪ ♪ ♪ ♪
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that laboratory, at the wuhan institute of virology. i haven't seen evidence that suggests anything to the contrary, that evidence continues to accumulate in spite of the fact that the chinese communist party will not permit anyone to get any access to the laboratory. jackie: former secretary of state mike pompeo suggesting that the origins of the covid-19 pandemic came from a wuhan lab, meantime, scientists are calling for an investigation into the pandemic's origin, that does not discount a potential lab leak. fox news national security jennifer griffin joining me with those details for us, hi, jennifer. >> hi, jackie. well this could be a key turning point. 18 top scientists are now calling for an investigation into the pandemic's origins that does not discount the possibility of a lab leak from the wuhan institute of virology. the new letter printed in the magazine of science suggesting the investigation into the wuhan lab is not closed , despite a w. h. o.
report that ruled out a lab leak. more investigation is still needed to determine the origin of the pandemic. theories of accidental release from a lab and spillover both remain viable. what is notable about the new letter is that it's signed by dr. ralph barrick, a top coronavirus expert at the university of north carolina whose gain of function research was used by the wuhan lab's dr. lee, also known as the "bat woman" because she had been collecting samples of bat droppings and mapping coronaviruses for years. gain of function research is designed to enhance the transmission of potential pandemic pathogens by speeding up evolution. >> the list of the cover-up efforts is staggering, and the combination of the circumstantial evidence that we have combined with the intense effort to deny us information about that lab suggests to me strongly this is where it originated. >> a new letter sent by
republicans on the house select intelligence committee to the director of national intelligence and president biden accuses the intelligence community of relying on outside experts with compromised financial ties to the wuhan lab. secretary of state blinken says he supports the ongoing investigation but i have spoken to former members of the state department's investigative task force which was looking into the virus' origin and it included some of the country's top forensic investigators and experts and they are confused why their task force was stood down. jackie: thank you for that good to see you. the heritage foundation vice president of national security and foreign policy jim carafano joining me now to discuss. jim your thoughts on what jennifer basically laid out there for us. there is evidence suggesting that, indeed, whether it was by accident or not, that this pandemic, coronavirus, covid-19, started in a lab, and i think the american public has
a right to get to the bottom of it and have an answer to that and to know the real story. >> right. well two key points. one is it is an open question whether it came from the lab or not. we haven't seen all of the evidence and secretary pompeo has seen but we have seen there was not a sufficient investigation, indeed, the head of the world health organization , commenting on his own report, said it was inadequate, and we have seen the chinese trying to coverup, so i think that is a perfectly- legitimate open question. the other thing that i think this is the most important thing why is this important, and i think people say well who cares we've already had the pandemic. this part of china is one of the global hotspots for the kinds of pandemic disease that can leap from species to humans, so understanding how that happened is absolutely vital and crucial, so we can make sure that we have a global surveillance system in
place to preclude the next outbreak. jackie: well that's the thing. >> this is as much about the next pandemic as it is about the last one. jackie: sure and jim i was going to respectfully disagree with you that i think a lot of americans including myself feel exactly that same way. you look at what happened here and you say, um, so many people died. it shut the world down, essentially. this can never happen again, and that's why accountability is so important and so you want to have this investigation. you want to get to the bottom of it, but you're right. it's very difficult to get the chinese to come to the table and cooperate and so there's part of me that sort of thinks the administration is saying well we're never going to get to the bottom of it. we can't push the chinese, you know, and that's why they are shying away from it. >> yeah, but we have two global pandemics now, we had sars where the chinese failed miserably to alert the world and so we put up a whole new swath of regulations to prevent that from happening again. all of those regulations were violated by the chinese, and
then we had another pandemic that was even worse, so we have got to put together a global health surveillance system that assumes that the chinese will never cooperate and never come clean, and we cannot do that unless we really understand more about forensically about how this happened because it's going to happen again. jackie: stay right there with us jim i want to get to the middle east for a second here where tensions between israel and hamas are not slowing down, fax news correspondent greg palc ott is in israel with the latest there. greg, what's happening? reporter: hi, jackie, yeah, we are now into week two of the battle between israel and the hamas militant group and here, on the ground, and central israel, there is no sign of any let-up. take a look what we saw earlier today. we're hearing sirens now near the city of ashdon, in the central part of israel, you're looking behind us itch our cameraman can just show what
we're looking at and that's the batteries of the iron stone defense system. and it is going up in the sky, and a second one is going up in the sky, and looking to target and there's a third, make that a fourth. looking to target hamas rocket, coming from gaza, several miles away. >> in fact, we watch as four rockets from gaza were intercepted by these iron dome missiles but at least one got through, hitting a building in the city nearby, injuring three people. those rockets were in response to a heavy series of israeli air strikes, against gaza, throughout the day. militants and their underground network were targeted, all told during this week plus of strife, some 10 israelis have been killed some 200 have been killed in gaza including women and children. jackie, pressure is building for some kind of cease fire, but nothing really insight.
i asked a top israeli defense officer when we might have an indication of a calming down of things and he says when the rockets stop flying, or at least when they slow down. since we recorded the launch that you just saw, we saw two more barrages of rockets from gaza. no end in sight, back to you. jackie: greg palkot, thank you for bringing that to us, stay safe. the biden administration approving more than $700 million in weapon sales, for israel. that's got some house democrats up in arms here the heritage foundation vice president of national security and foreign policy, jim you were with us earlier so just reacting to what we're seeing on the ground in israel, and the strife about the fact that this weapon sale is in fact moving forward. >> well this part of the world, actions speak way louder than words so this kind of is absolutely crucial so the world knows that the united states as israel's back so israel has the right to defend itself.
i think we've got to be cautious here about if you prematurely get to the end, push for the end of hostility before hamas paid a terrible price for this , and if global pressure builds against iran, what you could actually do is perpetuate that could last for years. so i think we've got to be really cautious here about what we're asking for. and embolden hamas that came out of this a winner they might start violence that might never end for months of years. jackie: and that's what's so interesting to me is the administration is saying well we're trying to help israel and this is how we're trying to do it, but wouldn't you want there to be a situation where you have a calmer, you know, more stable middle east which we had under the previous administration, making strides there, and also, presenting itself as , you know, strong enough to stand up to the bull ies in the region, iran, backing hamas, backing hezbollah , two of the biggest disruptor s and you say to
yourself, this is kind of like another situation that we have at the border where the biden administration is just basically appearing weak and so people are taking advantage. >> i think there's no question that you have to ask why the administration made such radical departures from policies that were obviously working to go back to policies that were obviously not working. you know, for example, they just released like $200 million to the united nations that would go directly to groups like hamas who we know funnel that money off to build rockets and tunnels and literally hamas' thank you was to try to murder israeli citizens and structure a war so they kill palestinian children. look at iran. since the united states tried to engage with iran, iran has become more aggressive and iran is the number one cheerleader for hamas to be in the streets trying to murder israeli civilians, and difference for the death and suffering of palestinians so i'm not saying this happened because of the biden administration but the biden administration actions
which rolled backlit rally everything positive in the last four years, look at the face of it. we've gone from a region that was heading towards peace and prosperity with a contained iran and weakened surrogates and literally in three months we've turned that scenario on its head jackie: jim you know more about this than i do but the only way you'll have an impact on the iranian regime to disable it , to dismember it, to a certain degree, is with financial sanctions and they were starting to work and that's why iran is so, you know, angr ier than ever, if you will, and taking these opportunities now to lash out essentially at the rest of the world. >> well, the sanctions really hamstrung iran and really limit ed their ability to support their surrogates which is crucial but the real golden ring here was the abraham accord and the idea of bringing arabs and israelis together and that to have peace and security and economic stability and be a real bull against iranian influence that could last for generations,
that was the real goal and we were making real strides on it, and the hamas attacks are in part absolutely designed to try to undermine that normalization process, and have a region that's divided because that is better for iran, and i really think the administration, by not focusing on pressing ahead with the abraham accord and containing iran made a huge strategic error and the violence that you're seeing in part as a result of that. jackie: yeah and oh, by the way we're in a situation where the administration is changing its policies on energy, as well, and we're seeing our energy prices go up, and we maybe dependent on the middle east once again, that the would play into iran's hand as well but that's a separate conversation jim always great to see you thank you. >> thanks so much for having me jackie: coming up the governor of oklahoma is here and only here, will his state be the latest to drop federal unemployment benefits, to get people back to work? i'm going to ask him after the break. >> ♪ ♪ ♪ ♪
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♪ and i get to live in this beautiful house, with this beautiful kitchen, and it's all thanks to sofi. ♪ jackie: welcome back. the wall street journal reporting that bill gates was investigated by microsoft's board right around the time he decided to step down for what was deemed an inappropriate relationship with a female employee. our fox news correspondent william william la jeunesse has the latest for us. reporter: jackie, the affair allegedly occurred in 2000 but wasn't revealed until 19 years later when the female engineer wrote a letter demanding changes to her job, she shared details of this romantic relationship with gates, with management, and wanted melinda gates be given the letter to read. in 2018 the microsoft board did hire a law firm to investigate
the allegations. some board members decided early on the relationship was inappropriate, they wanted gates to resign immediately to avoid embarrassment, should the results be made public while still a director. gates did resign but a spokesman says, "there was an affair almost 20 year ago which ended am icably, the decision to transition off the board was in no way related to this matter." so revelations of this affair come as the new york times said sunday, gates asked two women out on dates while married to melinda. one a microsoft employee, 2006 after watching her make a presentation gates said in an e-mail, "if this makes you uncomfortable pretend it never happened" years later the paper said gates found out a foundation rather went out with a foundation employee while the pair were working in new york. the daily beast claims gates sought marriage advice from convicted ped pedophile jefferson during meetings in 2011-2014 far more than previously-believed, according
to the report, gates told epstein his marriage to melinda was toxic. so the gates filed for divorce may 4, melinda gates calls the marriage broken. jackie? jackie: william la jeunesse thank you so much for that. coming up on the program, the governor of oklahoma, kevin stitt join us us after the break with an announcement. >> ♪ ♪ ♪ ♪
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june 1, to fully reopen, cases are down 95%, so it is time to end the federal incentive that is incentivizing people to stay-at-home, and we want to get them back to work in the state of oklahoma. jackie: and this is really interesting because there were two other states that do have an incentive in place in the future, arizona, montana, west virginia, is considering it as well, i mean, it seems like the states are starting to come on board, saying look, it's time to rip off the band aid here, we are coming out of this crisis, yet people have different reasons that they're not getting back to work and we're only prolonging the pain that we're in, if we don't get to it. >> absolutely, you know, ronald regan said that the best social program is a job, and we believe that in oklahoma, as a matter of fact last month, we had 68,000 job postings, businesses all over the state, are telling me they can't hire workers, and so we want to opt out of the federal program that's been incentivizing people and making
more money staying at home and we want to get people back to work. jackie: i mean, it sounds, you know, like a plan that will re vitalize the economy of your state and other states as well, and you're actually using the federal funds that were meant to be to extend the unemployment benefits, saying we can use this money but we can use it in a positive way to get people back at their jobs >> yeah, we decided to give a $1,200 bonus for the first 20,000 oklahomans that got off unemployment and got a job so we're using the american relief funding to fund that $1,200 and we want to incentivize work and not incentivize people to stay-at-home. i mean it just makes perfect sense to us. jackie: and what are you finding in your state, the willingness of people to want to get back into action, because i've been watching this , being in new york pretty much the whole time myself, but having many friends that are living in texas and florida right now, having very different pandemic experiences than me, if
you will. >> you know, i mean, when people leave oklahoma they call me and come back and travel to other states and say it's the oklahoma appreciation tour when they leave our state i've reminded oklahomans that we don't know how good we have it here compared to some of the blue states that are continuing to close their schools and we've been back to normal for months and months and months in the state of oklahoma, so to us, we're not sure what we're seeing on television and other states, because it is in fact normal for a long time but i've lifted my emergency order. jackie: yeah, it's really interesting to be able to travel and sort of see , it's like a tail of two pandemic recovery stories. governor, you also recently were removed from the 1921 tulsa race massacre commission over your classroom ban on critical race theory. i read about this and you essentially said that you don't want to teach first graders that their oppressor s because of the
color of their skin. you don't want these young children feeling responsible for what happened hundreds of years ago, yet you're being called out on that. >> yeah, i mean, i encourage all americans to read this bill. it's a one-page bill and like you said, i just was not going to teach school kids that just because the color of their skin they are somehow on oppressor or responsible and they should feel guilty and the bill says we're not going to teach one race or sex is superior to another race or sex. we believe and it's a no-brainer the bill that we signed. what we believe in is history and the bill specifically says we're going to teach about the race massacre that happened, about civil rights, brown vs. board of education so we will teach history, we're just not going to teach that critical race theory that is kind of become prevalent had in other institutions. jackie: it's really about as you said sort of letting children know what's happened in the past, and making sure that
they're self-aware not carrying these biases going forward, but making a six-year-old feel guilty, you know, it can have very troubling, very damaging consequences. >> yeah, we think so, i mean, we believe that everybody is created equal, and everybody is valued undergod, and so we're not going to teach that one race is superior to another race, and we believe in teaching history, but those is, i really encourage people to read the bill. its been politicized and said we're not going to teach history that's the fourth ethnic from the truth. jackie: governor real quick i can't let you go without asking about this we have a picture of you grilling burgers and steaks under a pro-vegan peta billboard, explain how this came about real quick. >> well we had a lot of fun with that, basically i was recruiting some agricultural businesses to oklahoma when colorado decided to shut their economy down, we successfully
did it, and i declared meat all week, the board our 110,000 folks that worked in the ag industry, well pita put a billboard out and i thought this is fantastic, and so we grilled out hamburgers and steak s and hot dogs and gave them out to oklahomans right underneath the billboard, and we believe in freedoms in oklahoma. jackie: governor we're out of time but we really appreciate you calling in thank you so much we'll be right back. >> thank you. talk to you soon. into this chip i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100 like you become an agent of innovation with invesco qqq in business, it's never just another day. it's the big sale, or the big presentation. like you the day where everything goes right. or the one where nothing does. . . . .
jackie: president biden just saying that the u.s. will send at least 20 million covid-19 vaccine doses to other countries by the end of next month. look at the dow, down 125 points at this hour. that will do it for us on "coast to coast." we send it over to my good friend charles payne to take you through the next hour. charles. charles: jackie, thank you very much. good afternoon, everyone, i am charles payne. this is "making money," breaking right now the demand showed up and supply was not ready. the world is running low on everything as we emerge from the pandemic yet the market is taking notice yet there are some bright spots and we'll take you an show you where to look. plus fed chair jay powell saying we're facing transitory inflation. ii have a guest who says higher prices are here to stay. he makes the case how you can protect your wallet. a shocker, president biden is gearing up to