Transcripts For FBC The Intelligence Report With Trish Regan 20170929

Projobs, proworker, and profamily, an proamerican. Trish congressman eric paulsen, on the house ways and Means Committee and is working on this tax plan is joining me in just a few minutes. Meanwhile its a story weve been following closely on the Intelligence Report, nfl players taking a knee during the National Anthem. Well, guess what . Jpmorgan, the Investment Bank is telling investors to bet against cbs. Cbs which broadcasts nfl games own fears people will not watch the games. The league must get a handle on this. Roger goodell has to step up to the plate literally, he, entire nlf, cbs, or anybody broadcasting games will pay the price, with low ratings and bad for business. Connell mcshane in washington, d. C. , with the very latest on President Trumps tax reform push. Hey there, connell. Reporter president speaking before the National Association of manufacturers, and he told that group they can expect to get a big and beautiful tax cut today, make them more competitive, cut corporate rate down 20 , Companies Choose to want to do business in the United States. He talked about going from the back of the pack, pretty much to the front when it comes to Corporate Taxes while acknowledging we wont actually get to the lowest rate in the developed world but it will abettor situation president said than one we have now. General message, lower taxes more competitive Business Environment was certainly wellreceived by this group here. Here is a little more. This can be remembered as the moment we took control of our destiny and chose a future of american patriotism, prosperity and pride. With your help and your voice he will bring back our jobs, we will bring back our wealth, and for every citizen across this land, we will bring back our Great American dream. Reporter i can tell you we had a chance to speak to some of these manufactures ceos that were on hand to hear the president speak here in washington, d. C. And they liked what they heard. They said bringing corporate rate down would be music to their ears. Others said 15 was the target of the rate. President had the same target. With the conversation turning to 20 rate, most said we can live with that. Were watching it closely. We dont want it going any higher. They like the message and what they heard today. Trish thank you very much. Connell mcshane, joining me right now, columnist with fiscal times, columnist liz peek and financial analyst heather zumarriaga. Heather, this amazes me sometimes the idea canada has lower corporate rate than us is pretty telling about the direction were heading in. Can that really be changed now . It can. Lawmakers, republican Lawmakers Said this is a red line. There is and will be no negotiation in terms of 20 being that maximum top rate and i think we will be able to push this through congress and get something passed before the end of the year. Trish if that happens, what will it mean for gdp growth, liz . Without a doubt, it is an accelerant to see Corporate Taxes come down. Already the promise of that boosted optimism for the Manufacturing Sector in particular and has led to increased hiring and increased investment, both of which are incredibly important for wage growth. That is what has been missing in the expansion weve seen to date. That is what drove gdp over 3 growth in the last quarter. That is what will help in the Fourth Quarter too. Trish okay, good. Heather, happens though if we dont get it . Tell us, the level the market is at right now, 22,359, a lot of people think this is baked in. A lot of people agree with that analysis. Youre right. The markets are up since President Trumps election on back of expectation what is will be passed in terms of tax reform in washington, in terms of legislation down here. If we do not get tax reform passed, markets will decline before yearend, 10 to 15 , which isnt a big number when you put things into perspective liz, because were near alltime highs, across the board, not Just Technology sector that is okay if we have a pullback but trish hear me every day, im beating the drum on this hourglass economy and i dont like it because i think our middle class, a lot of workers that worked in the Manufacturing Sector, they have been the ones, liz, they lost their jobs, they have been hurt in this environment. Were increasingly in a global economy, but, in some respects that train has left the station. How do you start to reverse it when so many jobs consistently keep going overseas . Do we need ultimately more protectionist while offering incentives like 20 on Corporate Taxes . I dont think we have to become protectionist. Lets remember, it is not just high taxes hurting our Manufacturing Sector. It is also bonekilling regulations. That is the other thing that trump has gone after very effectively. When you do surveys of manufacturers and other business owners, regulation actually tops taxes as a concern. So both of those things are incredibly important. Look, i think people, particularly democrat, tend to give up on manufacturing. The message is, we can compete. Of course we can compete. We have way biggest Consumer Market still in the world. Were an englishspeaking nation. We have trained workers. I think, this pessimism has got to go. This is totally the right initiative for the Trump White House and i think it can be successful. Trish thank you so much. Good to see you both. As we talk about this manufacturing story i want to quickly tell you an anecdote here to the viewer if we would go to them now. Let me give you an example of two companies. One in in the midwest of the und states of america paying Workers Union wages, paying workers benefits, paying workers vacation time, et cetera, upwards of 30 an hour, and then you have another company in china making the same products paying a 1. 50 an hour. Guess which company is more productive . Same company, same factories doing Different Things or same things, rather, paying different wages . The factory in the midwest. The reason it is, is because the productivity levels are so much higher. More educated population, the Union Population skilled in technological work is doing better. Talkingtalking ben tenneco, thea muffler plant in u. S. And one in china. This is pretty interesting case study. We still have the advantage. We need to remember that and we need to exploit that to the best of our ability. Our workers are the most talented workers in the world, so we need to create the right kind of tax structure so they benefit from all of that. Democratic and republican lawmakers from high state tax areas are freaking out over this idea of eliminating state and local tax deduction. It is just not fair, however, states like him New Hampshire or nevada or texas, or florida, need to subsidize places like new york and california, and i say this, by the way, knowing i personally as a new yorker, will be penalized in this kind of environment but it is not fair for all those folks in texas or New Hampshire to have to subsidize us. I love this quote. Warren buffett once said, i will share this with you, quote, it is only when the tide goes out do you discover who has been swimming naked. In other words, if we have a an environment, everyone, where you can no longer deduct your state and local taxes, that means those states that have very onerous taxation, they will be exposed. Joining me right now republican congressman from minnesota, a state that has a lot of taxes, high income taxes, he is a member of the house ways and Means Committee, representative eric paulsen. Representative, good to have you here. Where do you come out on this . Just to back up for a second, to explain to the viewer, you come from a state where you have high income tax, anywhere from five to nearly 10 . Right. Trish the way it works in minnesota, when you get your federal income tax bill you can deduct what youre paying to the state of minnesota. Now you cant do that in texas, you cant do that in New Hampshire or florida, because they dont have income tax. Right. Trish so my point is, you guys are getting a little bit after handout from all the other states. Youre able to make your state run at expense of other states. Do you think that needs to change . Well, couple of things. First of all, im really excited about this tax reform plan as it has been laid out. As you know were lowering brackets for everyone. This is not about increasing taxes even if some deductions go away. We dont have the final details. There are high state taxes concerned about this, but when you double the standard deduction, lower rates for everybody were going to improve the economy. Trish new york is concerned about this peter king doesnt like this one bit. Sure. Trish congressman from new york. You know Chuck Schumer will not like it any way but the reason someone like peter king doesnt like it, he knows people are getting hit with 9 from new york state. Theyre getting another 4 from new york city. Sure. Trish youre looking at 13 . New yorkers can deduct the 13 , say from what theyre paying, 35 to the federal government. Right. So that is an advantage. That money goes to help new york. Just like the money helps minnesota. Does that need to change, so you level the Playing Field for every date . Leveling the Playing Field is a good idea. One of the reasons why were just looking at simpler tax plan here. I mean, why should nine of tern americans have to hire someone to do their tax, buy Financial Software to do taxes. I agree with you on that. That is not the question im asking. The question is, do you think people should be able to deduct state and local taxes from their federal tax bill . Right now the plan laid out in the framework were eliminating that deduction. But we also double the standard deduction. But well level the Playing Field. Trish so you dont think they should be able to do that . Well again, were doubling standard de, d were leveling Playing Field so states like that would be in different position but as long as were not raising taxes on folks that is what we want to make sure happen. Trish you might be. Definitely on the wealthy, but by the way, this plays to your argument because Chuck Schumer and company are saying handout to the wealthy. Im saying it is not. It is not. It is not a handout. Trish high earner in new york city, by the way, high earner in new york city is very different than a high earner in minneapolis or in minnesota. In minnesota. Trish you have a whole different cost structure. Earner in new york city is not necessarily high earner anywhere else in the country. That said, high earners in new york bet fenn liesed by penalized by this. Maybe that is right because rest of the country shouldnt be subsidizing . What are you saying . They will see the taxes go up at least a point or two congressman . Yeah. Not necessarily guaranteed they will see the individual taxes go up. Once you lower rates that is intended to mask over any changes in deductions. Were consolidating a lot of Education Credits into one simpler education credit. Keeping charitable deductions. Maybe applying other opportunities for low income. Trish youre working on this legislation. What would you like to see be the top rate, the middle rate and bottom rate for income . How much do you need to earn in the category. Brackets are not set. 35 and then you go down to lower rate. Get down to 12 . Trish question everybody wants to know. I hope you twice come up soon. What are income levels in each of those brackets. Yeah. And that is where were getting feedback on right now. Those will get designed to make sure were not increasing taxes. Well lower it. That is important for Small Business own years if youre in the 35 category, you probably will see increase, congressman. You will not be allowed to deduct property taxes. You will not be allowed to deduct state taxes. You will not be allowed to detuck deduct municipal tax. That is not the case. Even when you lose a certain deduction lowering the rates and standard deduction being doubled, were designing so you dont have taxes going up. That is important if youre americans. Trish im talking about specific places like the west coast. These are blue states by the way. Yeah. Trish so i do i do think it is not fair that some of the red states like texas and florida are supplementing blue states. Sure. Trish that said, youre incorrect, however, congressman when you say that people will not see their tax rate go up. I think that people that are in that upper middle income bracket in new york city, if theyre in that 35 , at some level you will because you wont be able to get those standard deductions. You wont qualify for those. Youre paying 35 , plus you will pay 11, plus you will pay four. Yeah. Trish i go back to the original premise, that probably makes sense. Because as i quoted Warren Buffett in the beginning, were going to start to see which states have a handle on their economies and which do not. Sure. Trish you know, texas and florida and New Hampshire and nevada, good for them, for 0 income tax. And other states compete for that business. Thank you. Trish indeed. Im all about free markets and competition. Thank you so much. Everyone, jpmorgan, speaking of free markets, lowering its outlook for cbs, the stock as widespread nfl anthem protests continue to rock the football league. Ratings are falling as fans boycott the game. That could cost the Media Company big time. They will take a look at all this, this ongoing controversy. Adam johnson insight, action bullseye brief is here. Think again. This is the new new york. We are building new airports all across the state. New roads and bridges. New mass transit. New business friendly environment. New lower taxes. And new University Partnerships to grow the businesses of tomorrow today. Learn more at esd. Ny. Gov can i kick it . Yes you can can i kick it . Yes you can can i kick it . Yes you can well im gone. From godaddy in fact, 68 of people who have built their. Website using gocentral, did it in under an hour, and you can too. Build a better website in under an hour. With gocentral from godaddy. Or a little internet machine . It makes you wonder shouldnt we get our phones and internet from the same company . Thats why Xfinity Mobile comes with your internet. You get up to 5 lines of talk and text at no extra cost. So all you pay for is data. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. Trish jpmorgan is telling investors bet against cbs as ratings continue to fall, boycotts of nfl in light of the National Anthem protests taking league by storm. Nfl advertising makes up 10 of cbss total revenue. Think about that. It is important to the revenue stream. You get another week of poor ratings it will force them to take the protests seriously. When will the nfl to step in to save its business . Joining me, bullseye brief adam johnson. Good to be with you, trish. Trish Roger Goodell could have nipped this thing in the bud. It has spiraled out of control. At what point does he wake up and say this will actually cost me, us, cbs and any other network that is trying to air these games . Oh it is costing him. He has already blown it. He ought to be out of a job. Think about it, the commissioner has the right to rule on every aspect of the game. The baseball commissioner is much more powerful, much more forwardacting. The in. Ba commissioner, much more powerful, forwardacting. Roger goodell is sitting on this. He could have one year ago said to Ownership Structure of san francisco, you shut that down right now. He chose not to do it. He ran away from it. Trish he didnt run away from other things. They ran from pink socks support for Breast Cancer and doesnt allow dancing in the end zone and players like ray rice continue despite evidence he abused his wife in the elevator. I do. Trish remember that. That was in atlantic city. It was horrible. He never really took a stand on any violence. He never took a stand because he doesnt want to bite the proverbial hand that feeds. This is money machine. Look at total revenue in the nfl, it is absolutely staggering 15 billion a year. Trish he thinks this will go away . He thinks it will go away. Everybody is talking about it. It will not go away. I couldnt watch the game on cbs thursday night, last night, i was too upset. I actually like Aaron Rodgers of green bay. I wanted to support the guy. He stood. He doesnt kneel. Im so upset by the whole thing happening i dont want to be part of it. The way i feel what is happening around the country, i talk to people. We talk to people, trish. We see stories. Look what happens on twitter this is upsetting. You have to take a stand. Trish understandably so. This is what people are doing. Theyre voting with their remotes. Yep. Trish ultimately its a business. It is entertainment. Thats right. Trish you think big guys like Roger Goodell, maybe les moonves needs to give him a call hey, fix this. We dont want this costing us money. Thats right. Trish you have got to nip this one in the bud and get players back in line. Think about it, for players the stadium is work place. You dont politics and religion into your work place. That is bad business. For all of us who want to enjoy the nfl, watch a football game, we work five, six days a week that is our leisure time. We dont want politics or religion in our leisure time. It is doubly wrong. Roger goodell needs to take a stand. God bless the analyst at jpmorgan saying i will downgrade cbs because they will potentially lose ad revenues, by the way, trish, direct tv given fans the opportunity to cancel the sunday pass. Trish thats right. I applaud directv for giving people that option so that they actually get their 300 back. That was a bold move. It will cost them money. Theyre doing the right thing for america. I respect directv doing that. Trish adam johnson, thanks so much. Thank you, trish. Trish twitter execs on the hot seat after Briefing Senate intelligence committees on the role russia may have played using fake twitter accounts. The top democrat still furious about the companys answers, he is calling for open public hearings. Were on it. Well fill you in next. Thats why i rent from national. Where i get the control to choose any car in the aisle i want, not some car they choose for me. Which makes me one smooth operator. Ah still a little tender. vo go national. Go like a pro. Think has exposure to energyfund infrastructure mlps . Think again. Its time to shake up your lineup. The alerian mlp etf can diversify your equity portfolio and add potential income. Bring amlp into the game. Before investing, consider the Funds Investment objectives, risks, charges, and expenses. Read the prospectus carefully at alpsfunds. Com amlp trish the president today making a big push for manufacturing in the United States of america. Would like to see taxes at the corporate level at 20 . This is up from his original 15 , but 20 is a whole lot better than where it stands right now. We are at nearly 40 , the highest Corporate Tax rate in the world. Earlier in the show, i got a big response on twitter, i should mention that, trish underscore reagan, i always like hearing from you. You liked example from tenneco, theyre making mufflers in the midwest and making mufflers in china and paying 30 bucks an hour, full benefits, vacation time, at the union shop in the midwest, and paying a buck 50 an hour in china. Guess which factory is more competitive . Guess which factory is more productive . Not the one in china. It is the one right here in the usa. We have workers that understand technology and understand these machines and are reliable. As a result the number of mufflers being produced not faulty are coming from the usa and it is a more productive plant. We need to capitalize on these things. These are our strengths. This is what the president is recognizing. We have great manufacturing, right here, in the United States of america. Here he is, speaking earlier today. Maybe not. Well work on that for you. But any way, the point is, 20 would be a whole lot better than where we are now. We need to level the Playing Field for us. We need it think about putting the usa first and it is not right, that anywhere else you go to start a company in this world, you can get a lower tax rate. Why do you bring the profits back . You keep them overseas, right . That is why you have 2. 6 trillion sitting overseas. I call them shotgun marriages between companies. These, border deals, where you have, an American Company relocating to ireland, relocating to england. Because it is a better Corporate Tax structure. And then you know what happens . They keep that money and they keep all those jobs over there. Were left with very little. Here he is. America is finally back on the right track. Our economy and country can not take off like they should, unless we transform americas outdated, complex and extremely burdensome tax code. It is a burden on our country. [applause] trish they just keep raising taxes. Well at some point something is going to give, right . You can not continue to push on a string. You can not make it the most owner us place to be doing business. What is going to happen . People are logical. Companies are logical. Shareholders are logical. They are going to relocate offshore. That is exactly what has happened, and people that pay the price are the middle class americans that lose those jobs because once theyre gone, they very rarely come back. Health and Human Services secretary tom price apologizing for taking so many jets, pledging to repay taxpayers nearly 52,000 spent on his seat on those flights. But guess what . Those flights he took, new reports that they cost taxpayers a Million Dollars. What the heck is going on here . You know what . I warned the president , i warned you all, about tom price earlier when he was first getting appointed. Were going to show you an excerpt from that warning, tell you why what he is doing right now indeed is the epitome of the swamp. I can do more to lower my a1c. And i can do it with whats already within me. Because my body can still make its own insulin. And onceweekly trulicity activates my body to release it. Trulicity is not insulin. It comes in a onceweekly, truly easytouse pen. It works 24 7, and you dont have to see or handle a needle. Trulicity is a onceweekly injectable medicine to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. 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Trish health and Human Services secretary tom price said he netted a Million Dollars worth of our money, taxpayer money to travel the world, in private chartered jets. All of these trips were official business. All of them were within budget. All of them were approved by the normal processes that every other administration has gone through prior to the trip. Not after. But weve heard the concerns. I heard the concerns. I heard the criticisms. Trish yeah. Because it cost taxpayers about a million bucks. This is not normal. We researched this, and turns out most members of cabinet, they travel commercial. Not mr. Price. Seems another nail in the coffin for mr. Price who has been embroiled in controversy, even before his appointment. Back in march 2016, according to house records, then congressman price bought, via his stockbroker, 1000 and 15,000 worth of shares in a Biotech Company, only then to introduce legislation days later that would have eased regulations on the sector. Thats wrong. It is just wrong. This is something i was at that time very upset about and continue to be upset about because this is the swamp. As long as these trades were directed by the broker and not directed by dr. Price, via forms and via trish but were they really . If they were, im sorry, i will go back to the root of this issue. It is just wrong. No broker should be buying or selling a stock that a congressman is about to introduce legislation on. I dont care what side of the aisle youre on this one. This is just fundamentally wrong. When donald trump talks about draining the swamp, it is getting rid of this perception of a conflict of interest. It is Insider Trading, isnt it . If tom price knew that he was bringing forward legislation on a Biotech Company, yet he goes out and buys that Biotech Company before introducing the legislation, that is really wrong. He can tell us i didnt know, my broker bought shares. Guess what, you should know. You should tell your broker, that you have certain conflicts. And as a result, i dont care, just buy the s p index. Get an etf like a lot of people do. When and how do we start to drain this administrations swamp . Does it start with tom price . The president doesnt like it one bit. Joining me to discuss bgc partners strategist, fox news contributor, steve cortes, ned cry run and adam johnson is back with us. Starting with you, ned, are his days number . Many ways tom price is abuse of taxpayer dollars youve seen in previous republican and democratic administrations. The Million Dollar figure was just since may. Congressman price calling out democrat colleagues saying it was abuse for them to use private jets. This really thumbs up in many ways 2016 elections, trish. The American People were fed up. They despise washington, d. C. They despise the city and ruling class of the other thing i would say about 2016, draining the swamp, if you say it differently, trish, 2016 was about the working class waking up realizing the system is not working for them. It is working on behalf of a ruling class, republicans and democrats and their special interest cronies and their corrupt consultants, to add insult to injury this ruling class is using the taxpayers dollars to live a lifestyle of the rich and famous. Im sorry, i thought Government Service was actually about service, not living a lifestyle of the rich and famous. Trish keep in mind, he is not first here. Steve mnuchin, treasury secretary, heading down to see the eclipse with his wife. Then of course she had a bunch of instagram messages about it. Steve, now, ryan zinke is under fire for this as well. What is it about these folks . They think once theyre at a certain level in government they get to suddenly travel by private jet on our expense . Right. No, listen, trish, you know how close i am to this administration, so it pains me to be critical but there is pretty swampy behavior going on here and by the way it is a disservice to the president , because the president right now is trying to push the most aggressive tax reform package in american history, and instead of solely focusing on that, we have to deal with this kind of nonsense. Youre right. Unfortunately one thing were learning, the swamp and swamp creatures, theyre hard to kill. This president is going to do it. Trish i will go out on a limb here. I was so shocked by that revelation on tom price, that he, adam johnson, would allow his broker he may say look, i didnt know my broker was doing this. I dont care. Dont have your broker trading individual stocks, for goodness sakes especially in a sector you are about to introduce legislation on. We all know the difference between right and wrong. Something goes back to about third grade or when your parents say do this, dont do that. Truth with a capital t. You know it what you hear it. It is real simple. If you are in the health industry, you understand health care. If you go to government as an expert in health care, youre going to affect the Health Care Industry. You have no Business Trading public securities in Health Care Industry because you by very definition can affect them. Youre disadvantaging the common person. It is shocking. And mr. Trump would do himself a Great Service by thanking mr. Price for his service and asking him to step down to set an example. Trish i think the president knows that. He is not one bit happy about any of this. He said so much the other day. And he shouldnt be. Steve made a great point, when we should be focusing on tax reform were talking about this i would argue abhorrent behavior. Trish, if i were saying to the president , mr. President , cure the swamp disease. Dont merely deal with the symptoms. Firing tom price does not change, does not guarranty future behavioral change. What President Trump can do trish i say everyone coming to work for me, guess what really quick. Sign an executive order trish this to me is grounds for firing. Oh, i agree. Trish basically did Insider Trading before he got the job. You heard me call him out in january for it. Now he is doing something additionally sketchy, using our money to the tune of a million bucks flying around the world. Completely agree. Trish who is the heck is giving approval for this stuff . Trish the way President Trump sets the tone, does it immediately executive order laying out very strong guidelines not only for the executive branch and cabinet members how they use taxpayer dollars and Government Resources but also sets the tone for future administrations by saying were not going to abuse taxpayer dollars anymore in washington, d. C. It is time for future administrations. Drain the swamp. Agreed. Trish, thank you, guys. Good to see yall. Appreciate it. President trump says the federal government is fully engaged helping puerto rico to recover from Hurricane Maria. He says his administration will not rest. Were live from puerto rico looking at all the devastation next. We will not rest, however, until the people of puerto rico are safe. These are great people. We want them to be safe and sound and secure. Trish worries today a huge part of puerto ricos economy might never recover from a the hit the country has taken from Hurricane Maria. The Agricultural Sector was suckerpunched after it was up 50 over four years. As nearly entire population of the island is still without power, and mostly without water since the storm hit nine days ago. Garrett tenney, live in puerto rico with the very latest. Garrett, i understand, it is difficult for you to get a tv signal there, because it is pretty much difficult to do anything. Describe the situation there on the ground as youre dealing with no power. Reporter trish, we left a coastal town two hours west of san juan, this is one of many towns outside of the capital struggling to get basic necessities, food, water, medicine. There are plenty of things coming into the island. Weve seen that. Problem not enough is getting out to areas that need it like these. A few days ago, fema started providing single trucks worth of food and water for the towns 60,000 people. The mayor told me hardly a drop in the bucket of what they need. It is not enough. It is not enough water. Not enough food. We dont have gasoline. We dont have diesel. We dont have anything. We had about 3,000 people in line this morning. 3,000 people in line. And only about 1000 of those people got enough to eat. You know what happened . People get upset. Reporter yesterday, fema announced that the city hall would be site of an initial Team Distribution Centers Across the island. You can see here though, all that was outside of city hall this afternoon, the towns one water truck, which carries enough for 1000 people. 60,000 people in that town. Across the street. Pastors from the local catholic church, feeding people rice an beans. For a lot of folks it was first meal in days. They expect a flight arriving into town from private charities that wont be enough. Were at day nine since Hurricane Maria devastated puerto rico. It is clear on its own the puerto rican government is not able to provide the help of peoples needs. If that help doesnt come soon, peoples patience will run out. Weve seen that starting to happen. Trish . Trish garrett, thank you very much. We certainly hope that people get the power back. Scary stuff on island of puerto rico. President trump looking for a new chairman to head the Federal Reserve. The central bank plans to begin shrinking massive 4 1 2 trillion dollars Balance Sheet next month. This will be a very hard job, for whoever takes on this. Who could it be . Charlie gasparino has the inside scoop on who the top contender is for the Federal Reserve. He is here next. Yes you can can i kick it . Yes you can well im gone thithis is the new new york. E . Think again. We are building new airports all across the state. New roads and bridges. New mass transit. New business friendly environment. New lower taxes. And new University Partnerships to grow the businesses of tomorrow today. Learn more at esd. Ny. Gov hi, im the internet you knoarmless bowling. Lt . Ahhhhhhhh you know whats easy . Building your website with godaddy. Get your domain today and get a free trial of gocentral. Build a better website in under an hour. Whentertaining us,es getting us back on track,hing . And finding us dates. Phones really have changed. So why hasnt the way we pay for them . Introducing Xfinity Mobile. You only pay for data and can easily switch between pay per gig and unlimited. No one else lets you do that. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit or go to xfinitymobile. Com. Trish president expanding his search for the next chair of Federal Reserve. He cooled speculation that chief white house Economic Advisor gary cohn was frontrunner to head the central bank. Fox business Senior Correspondent Charlie Gasparino is here with this. You have been talking about him as likely contender for the job. Do you think he gets it . He is in lead position for a long time we. We should point out gary cohn is part of a Selection Committee for fed governors. He had inside track initially. He is head of the nec. He has the president s ear. He had the inside track. He also came out essentially criticized president s remarks over charlottesville protest, which, trump let it be known to everybody he was seething mad about that. Donald trump doesnt forget those things. Kevin warsh i will say this, if you lose gary cohn you will gain a kevin warsh. A little bit about kevin warsh. Has real world experience as Investment Banker. Was in the Bush Administration for Economic Policy went to the fed, part of the Bank Bailouts in 2008. Very, this is the interesting thing, when ben bernanke was fed chairman during the obama years, printing all that money, he was an opponent of that. Trish he is a hawk . He was saying listen, you know, at some point we have to get normal. We should be normal now so we dont just create these ridiculous incentives in the markets to create bubbles. Trish let me just ask you about, that because it is important we do have to get normal. We have a 4. 5 trillion Balance Sheet we have to work off but i cant imagine, no president is a big fan of that. Everybody likes the spigot to stay open. That is the interesting thing here. Remember donald trump professed mr. Easy money himself, right . You would think that kevin warsh is not the right guy. My guess he is not quite a hawk. I dont think he wants to send Interest Rates to the roof immediately and squeeze the economy. Trish charlie, i have a to jump in. Another name being floated. It crossed on wires. Wall street journal is reporting Jerome Powell is being interviewed as well by the president. Who is he . Tell me a little bit about him. Jerome powell . Trish Jerome Powell joined fed board of governors in 2012. He was with carlisle previously as partner. Carlyle Group Private equity firm. He served as undersecretary, assistant secretary of domestic finance at the u. S. Treasury from 1990 to 1993. I trish worked as lawyer and Investment Banker. Pretty strong credentials for him as well. Here is what i would say, none of these guys, very interesting trump is going away from the economist set to the practical set, right . He is not, remember bernanke was a trained economist, phd. Yellen as well. Obviously greenspan. They were economists economists. The people he is considering now to replace yellen, gary cohn, commodities trader. This guy, a lawyer. Kevin trish private equity banker. Right. Trish kevin as well having that real world experience. Right. Trish if youre joining we have breaking news right now that the president is looking at candidates to replace janet yellen on the Federal Reserve. Jerome powell according to wall street journal is being interviewed right now. Charlie reporting kevin war be being interviewed. The guy in lead position is kevin warsh for stronger academic background. He is much more involved in policy, even though he was involved as Investment Banker. One other thing puts him over the top. Soninlaw of ron lauder, a longtime new york republican, who is best friends with donald trump. Among his best friends. Trish we hope it is not that kind of thing, right . We hope he is qualified candidate. Youre talking trump here. Those connections matter. Trish thank you. 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I want to welcome a new member a very special member of the Intelligence Report team leah grace her mother is cara who has been with me on the show and stay one when we started as a producer and thats her father jeff congratulations to you on your very first child is a beautiful baby. Look at all the hair. Shes so cute. She came in at seven and half pounds thats just amazing. It is a special day for you guys a special week a special to us as well. You are going to be great. It sounds a little cliche but it just keeps getting better. Ive had three myself. You will not get a lot of sleep we cant wait until you come back and we cant wait to see that little girl. That one bit of advice here would be to not put too much pressure on yourself and i think you can do it all just try to do everything you can try to do well. Thank you for everything that you do here. Right here on foxbusiness. I will see you back here then. Congratulations to cara. Has a number their there member of our winning theme here. We understand with some breaking news in the and the markets are moving with a little bit of a job if they are going on. They are parading in and out of the white house today moving in the markets they want the job the Federal Reserve a chair. We are waiting on a third, maybe. They are gassing up marine one. After pitching the tax reform plan. He is calling it rocket fuel for the economy. With an estimated 5. 8 trillion