Controversial. Connell mcshane to spell out what is going on here . Reporter this is big one, for College Sports and a big business story as well. You hear wheeling and dealing under the table all the time in this area but were hearing about formal federal charges this News Conference will spell it out in detail. What were learning ahead of it, there are details we can go into the charges. Bigtime College Programs for one. I show you the names. First of names of College Basketball fans may recognize, chuck pierson, played in the nba, he is is assistant at all burn where he went to school. Emanuel richardson, university of arizona, Oklahoma State and usc. I have want to mention the name. Jim gatto big shot at adidas,ing director of Global Marketing. Adidas confirmed one of their employees was arrested. The feds alleged that some of coaches accepted cash bribes from an agent. We heard about things like that before but they say there was a scheme where the aforementioned jim gatto from adidas funneled hundreds of thousands of dollars to some High School Basketball players and their families. In exchange for getting money, the allegation the players would agree to pay for a school that adidas sponsored. That is a big part of this. You have it involving schools but you also bring a sneaker company, adidas, there has been a certain degree of suspicion in College Sports. Well see what they say specifically at the News Conference. That is what people are watching closely the involvement of adidas in this case, all money going to High School Players. Neil from what we understand involves not head coaches but assistant or associate coaches at university of arizona, university of Southern California and Oklahoma State university but that one concerned work the particular coach did at south carolina. Reporter right. Neil paytoplay for kids they represented, right . Reporter yes. Also at all burn, the wellknown name for basketball fans, chuck person, left side of screen, assistant coach at all burn but almost irrelevant. So you have a High School Player this, is where adidas comes into it where they are a big star, right . Sneaker companies, talking specifically about adidas but any big sneaker companies, nike being other one, they sponsor a lot of universities. You see the companies uniforms, under armour would be another to throw into the mix with a lot of universities. You see uniforms and sneakers worn by athletes when they play in college. There is a lot of money. Theyre cutting deals with the universities. What is alleged this guy gatto, from adidas going to High School Players, giving them a lot of money. According to federal prosecutors, well find out exactly how much, hundred of thousands of dollars to High School Basketball players and their families, here is dough if you agree to sign with school x, thats a school adidas sponsored. You could have a involvement after Major Company through this representative jim gaut toe. As we talked about. Neil were waiting for so you were district of new York Attorney and William Sweeney director in charge of new york office of fbi. When they come up to the podium well take you there. Meantime we were talking about the tax cuts the president detailed. Were cutting taxes not just a little bit for the middle class but tremendously. Time for both parties to come together to do what is right for the American People and nation we all love. Neil that is the operative, tremendously. What is tremendously . Will ini had conclude the upper income in. Take upper rates down to 20 for Corporate Tax rate . What are you hearing, buddy. Corporate tax rate down to 20 from 35 . Seven brackets down to three brackets. Well see what compress in the brackets. Top rate gets most publicity, the Mainstream Media say it is handout to the rich. Goes from 39 to 35 . Neil that is still in the offing . From what i understand. Neil the argument was offset reducing reductions. That are is where the thing gets bogged down. Were hearing, Brian Schwartz my producer did reporting and legwork, Republican Leadership wants to get one major deduction, state and local Tax Deduction on personal income taxes. That is going to vin credible blowback from anybody, any congressman, gop congressman that lives in new york, new jersey, california, you name it. States with neil you were mentioning a figure, that is many as 60 . I reporting this out for a while. The journal did a story. The bloomberg. The number stood out was 60. Peter king is not big favorite. Staunch supporter of president. Neil they cant be won over to the notion, it will affect your states, communities and districts but offset by a substantial rate drop people will welcome . Right. It will be, for example, i dont know if that rate drop is substantial enough to make up for the state around local Tax Deduction. Neil some of those states, particularly new york, it is very high. Here is what he will have to rationalize. The president will have to rationalize, or steve mnuchin, whoever is leading the charge, why give a sweetheart deal to private Equity Managers . Allow them to deduct, that loophole, use that loophole carried interest, theyre keeping for private equity, main user of this. 99. 9 of the use of this loophole carried interest is used by private equity. Theyre allowing that. Why give them a handout, not the state and local . Why not a family of four in long island that makes 250,000 a year, why are you screwing them, to help steve schwartzman, mr. Trump, who is on your Economic Advisory team. Neil people might not understand. Katy, i want to bring you into this daily caller editor. How likely is it they have clear sailing republicans for a tax cut when they didnt on health care and tried again and again and again . Orrin hatch saying this could be heavier lifting. Even on wires indicating this might be more next Year Development than this year . What do you think . Well of course, it depend, right . At this point if they couldnt get health care done, that was internal fight on republicans themselves. If they cant agree with each other, and they start stonewalling each other maybe tax reform doesnt happen and it does get pushed back but at the same time i dont think well see a lot happening from democratic support either. Even moderates. This is not an environment right now conducive to bipartisan support. And democrats, Democratic Leaders dont have a lot of incentive to want to work with republicans on this. Chuck and nancy . No. Because the loudest, angriest parts of their base would see any form of compromise as a betrayal. Look how nancy pelosi got shot down at the town hall over daca . I dont see any support from democrats. Neil top rate, they dont leave it alone, whatever they do to offset that, it would further inflame those on the left who might have even been thinking about voting for this, right . Right. Well see what happens. Republicans of course dont want to work with democrats either, because they control everything. Why would they want to compromise. I was being facetious when i said chuck and nancy . What i was pointing to, that wonderful deal donald trump forged with chuck and nancy. Neil are there enough republican votes if they cant count on any democrats, lets say they cant to get this passed in the house and . The senate . I dont think so. If you listen to, talk to people on the hill, there are deficit hawks like ryan, dont want to take Corporate Tax rate down below 25 . Talk to people in the Freedom Caucus, why do it unless you take it down to 20 or 15 . Neil right. President will almost want to bring it, start argument at 15 . I heard theyre starting at 20, you would think start it at 15 so it goes up to 20. Neil what do you think, katy, he wants the corporate rate lower, maybe 15 isnt it. Somebody in the low 20s, would be. Where do you see all of that going . I imagine a lot of republican infighting already occurring right now. A lot of white house meetings that perhaps arent going anywhere, a lot of people posturing in front of podiums espousing their ideas. Would i rather see people get something done. Honestly at this rate im imagining perhaps angry tweets from trump in the future. Neil i want to be clear what youre saying. I do want to go to charlie after this, but do you think well get a tax cut approved this year . I really hope so i dont know quite if im the one to say yes or no but i would like to hope to get it done. Neil you have your doubts. Why . Here is the reason, if they start lets say they compromise on, bring Corporate Tax rate down to 25 and as part of that compromise, paul ryan says, okay well close every loophole, corporate loophole. Cant deduct the interest on debt, cant do this, cant do that. Then it is actually a tax increase maybe, you no. Effective rate on corporate rate is 27. 1 . Market will sniff that out in a second will trade up. That is worse than what we have now, if you settle for stupid tax cut that say, oh, boy, we finally, donald trump, lets give donald trump a win when it is one of these victories that dont hold a lot water. That is the problem. Neil were waiting for ncaa press conference which federal officials will be fingering a number of schools that might have had a play payforplay deal with big agents and one big Apparel Company to lure kids to those schools. Well keep you posted on that. Meantime the media is over the donald trump for hitting the nfl, not saying enough on puerto rico. Wait a minute, isnt the media on the nfl, not reporting a lot on puerto rico . We separate. You decide. Can i kick it . Yes you can can i kick it . Yes you can can i kick it . Yes you can well im gone they save us from gettingones . Lost, getting hungry, and getting tired of places like this. Phones changed everything shouldnt the way pay for them change too . Introducing Xfinity Mobile. Where you can pay for data by the gig, and share it across all of your lines. No one else lets you do that. See how much you can save when you pay by the gig. Xfinity mobile. Its a new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. Neil busy news day shaping up. The spanish Prime Minister is going to be visiting the white house. Were told they are going to conduct later on this afternoon, 1 45 eastern p. M. Eastern time, hour 1 2 from now a joint press conference. The president is hitting once again the nfl. Keep in mind the next big game everyone is closely watching, thursday. To the blaze host Lawrence Jones what he expects to happen. Ahead of that i want to go to this ncaa press conference which authorities seem to decide on this. Lawrence i will go to you after this. We announce fraud and corruption in the world of College Basketball. The picture painted by the chars today is not a pretty one. Coaches from nations top programs, soliciting and anticipating cash bribes. Managers and Financial Advisors, circling blue chip prospects like coyotes. Employees of the one of the Worlds Largest sportswear companies secretly funneling cash to the families of high school recruits. In all we charged 10 people in three separate complaints. Four College Basketball coaches. Three People Associated with professional managers and advisers and three with ties to the major Sports Wear Company, including its Global Marketing director for basketball. These men allegedly participated in two different but related schemes. In the First College coaches took cash bribes from managers and advisors in exchange for directing players and their families to those bribers. In the second scheme, managers, advisors and those affiliated with the Sports Wear Company worked together, to funnel money to families of some of countrys Top High School recruits, upward of 100,000. For the players commitment to play for schools sponsored by that company. Let me start with details about the first scheme. We have charged foreCollege Basketball coaches. Chuck person,. They are associate and assistant coaches at Major Division one schools with top tier basketball programs. They have all been in and around the game of basketball for a long time. And one, chuck person, played and coached in the nba. All of them, had the trust of the Young Players they coached and recruited. Young men looked up to them, and believed the coaches ad their guess interests at heart. Chuck person, describing his influence over one of his players put it this way. Quote, he listens to one person, that is me. Chuck person also explained that his players trusted and looked up to him, as he reminded them, he had coached kobe bryant and worked for phil jackson. But as alleged, these coaches abused that trust, placed in them by the players and their families and they violated duties owed to their schools. In exchange of bribes ranging from 13,000, to almost 100,000 each, these coaches allegedly pushed particular managers and advisors on to players and their families and certain of the coaches arranged for separate payments to be made to the families as well. Anthony bland describe he what he could do for managers and advisors this way. Quote, i can definitely mold the players and put them in the lap of you guys. The professionals whose lap the corrupt coaches put their players in were the defendants. Christian dawkins, munizsude and. He was a recruiter for Sports Agency trying to start his own Sports Management business. Sude, was Investment Advisor and michelle owned a company that sold suits and highend clothing to professional athletes. For these men brianing coaches was a business investment. They knew corrupt coaches in return for bribes would pressure the players to use their services. And they also knew that if and when those Young Players turned pro, that would mean big bucks for them in professional fees and profits. As dawkins put it, during a meeting that was recorded by law enforcement, quote, if we take care of everybody, we control everything. You can make millions off of with one kid. While pushing these professionals the bribed coaches showed little regard for the players well book. They ignored red flags, seeing only green of the cash bribes flowing their way. For example, in steering players to a Financial Advisor who turned out was actually cooperating with the government, most of the coaches never asked the advisor a single question about his qualifications, his track record in handling players money or really anything else about his business. A simple Google Search by the coaches of the advisors name would have revealed the sec brought securities fractured charges against him just last year fraud. Including for misusing his professional athlete clients money. Similarly with Christian Dawkins none of the coaches warned players or their families, that dawkins lost his job at a Sports Management company after Nba Players Association investigation revealed he misused his client credit cards to pay tens of thousands in unauthorized purchases. But it wasnt just that the bribetaking coaches ignored red flags and didnt seem to care about the qualifications of the advisors. As alleged, the coaches affirmatively lied to the players and their families. In talking to the families they built up these professionals. Some of whom they barely knew, with baldfaced lies. Chuck person claimed that one of them was his own personal advisor, and a Financial Advisor to hall of fame basketball player charles barkley. Well, that wasnt true. That advisor, the same one who is cooperating with the government had never even met charles barkley, and never handled chuck persons money other than paying him cash bribes. Chuck person also assured a players mother he himself had not received a penny for promoting that advisor to her. That was a lie too. That conversation took place five days after person had an envelope filled with 15,000 in cash from that very advisor during a secret meeting in a Manhattan Hotel room. By allegedly accepting bribes this way, these four coaches not only breached their obligations to their schools, violated ncaa rules and bea trade be trade the trust of players and committed serious federal crimes as did managers and advisors who paid them. The second scheme, although slightly different came from the same playbook of fraud and corruption n this scheme dawkins and sude, worked three people with ties to a major global Sportswear Company to send bribe money to families of some of the countrys Top High School recruits. The three men, are james gatto, Global Marketing director for basketball at the Sportswear Company, merrill code, affiliate of the same Sportswear Company, Jonathan Brad augustine, a Program Director for a amateur Basketball Team sponsored by that company. The complaint alleges that these defendants conspired to secretly funnel sixfigure payments to the families of three High School Players in exchange, the players would agree to commit to playing basketball at two colleges that were sponsored by that company, and eventually retain the Advisory Services of dawkins and sude, and being sponsored by that Sportswear Company. Recognizing the illicit nature of these payments, gatto and code allegedly took steps to hide them. Instead of paying the families directly they made the payments through dawkins company and augustine amateur Basketball Team. They also conspired to guys the payments on the company as books by using fake invoices and false entries. As merrill code put it in another recorded call, quote, it is on the books but it is not on the books for what it is actually for, close quote. As alleged, the defendants claim that the payments to players and families were made in coordination with the coaches at two colleges sponsored by that company. Now if you read the detailed allegations in the three complaints, totaling over 100 pages, you will find yourselves in the dark underbelly of College Basketball. We were able to get into that world through a cooperating witness and two undercover agents posing as corrupt advisors and financial backers. We obtained Numerous Court authorized wiretaps and made hundreds of consensual recordings. Threw these recordings we were able to hear in the defendants own words the audacious, allegedly criminal schemes. I will quote a cowell of them. As dawkins put it in one recording, quote if youre going to fund those kind of guys, referring to the coaches, at the most elite programs, dawkins said, quote, i mean we would be running College Basketball, close quote. In another recorded conversation with the fbi undercover, dawkins explain what they were doing, funneling money to players families could quote, not be completely accounted for on paper because some of it is, whatever you want to call it, illegal. Close quote. He was right. That is what we call it, illegal. So let me walk you through some of these visuals you have here. These two neil were giving you details right now of what seems to be a widespread sting operation that the fbi has conducted against a number of ncaa basketball coaches and assistant coaches, apparently an Athletic Apparel representative were hearing from adidas on a bribery probe involving recruitment efforts to win recruits to respective schools. Fbi says 10 people were arrested, including four ncaa coaches and assistants and otherwise. They had a pay to win kids influence and get them signed up and loyalty and familys loyalty and their support Going Forward. It would be in the eyes of the fbi and again some of the other officials who are outlooning these charges, pure gold for those schools involved. Well keep you posted on that. Keeping you posted on another sport occupying the nations attention, the nfl and all this kneeling fuss with the National Anthem. The blaze host Lawrence Jones who i rudely interrupted. The hill media reporter joe concha, how this is falling out for the president , who said he hit a chord. But again the question, Lawrence Jones, where is this going . What do you think . Well i think, neil, thanks for having me, the country is more divided and it has ever been. It is not just this issue, but a host of issues. One side saying the community hurting as it relates to police brutality, when the cops get it wrong. That is not all cases. You have one side of the community saying no matter that is an issue, you need to respect the flag, our anthem and our military. You have two opposite sides only see it from their point of view. Theyre not coming together, neil. I dont think this is going anywhere but into the ground because people are upset. People go to their perspective corners and wont unify. I think the president touched sentiment a lot of americans have but one thing i feel like he did do wrong, neil, he broke the rule as a businessman. Never tell another man how to run his business. I think, a lot of these people that are kneeling in unifying today, on the nfl field, werent necessarily supportive of kaepernick, especially after he had the socks that depicted cops as pigs. Now they unify as message to the president , not so much as a message to the original statement that Colin Kaepernick was trying to make. Neil joe concha, the hill media reporter, a lot has been made how the cowboys at the game with arizona cardinals, they knelt and locked arms prior to the National Anthem. Once the National Anthem began they were standing up and honoring it. Is that a middle ground . What do you think . I dont know if there is a middle ground, neil. I look at veteran for Foreign Affairs head, and statement he put out yesterday, how powerful it is. If i could just read. There is a time and debate for civil debate, wearing team jerseys and sporting events doesnt wash with millions of military veterans wear real uniforms on real battlefields around the globe. I stand for our flag and anthem. I kneel for our fallen. That is sentiment a lot of americans agree with. We saw a qpoll, quinnepiac, this is when kaepernick was kneeling, 38 , only 38 approved of kneeling during the National Anthem. I imagine if you see more polls come out this week, the sentiment i got on the ground on sunday, is a lot of people agree with president in terms of the premise thaw shouldnt do that during that time. But Media Coverage has been quite the opposite, neil, in our bubbles, particularly espn which is fourth major cable news network, it has been universal condemnation of trump. But that does not match sentiment on the ground. Feels a lot like 2016 election of media thinking one thing and peel on the ground saying something very different. But cowboys, neil, the cowboys didnt do that they decided they would kneel before the anthem and show respect. I think that was a compromise. It acknowledged what the community was saying. Neil do other teams do it on thursday night football, next weekend . That might be, what i was getting at, might be the approach but sit rattles a lot of folks that politics shouldnt insert on their favorite pastime or one of them but might be more acceptable if they do it like that, lawrence . I think people are still upset about it. I was just looking at my twitter, im a cowboys fan so im a little biased, i was proud of the moment they did last night because i thought it was a balance. I had people even on my twitter account saying that i was still wrong supporting the cowboys. They should have never kneeled in the first place. So neil the problem is, your support of cowboys having nothing to do with them kneeling or not. That is the problem. Exactly. Right. Neil let me ask you, im just joking there but joe, is it your sense, the president whatever you think whether he could insert himself into this or not, i think lawrence is right to raise the concern, he is telling a business how to do its business, so i could see that but others are saying this is not the week to do this, mr. President. You should focus like a laser beam and tax cuts and getting that out. Anything like this will chase away controversy, support you might get for liberal votes on your tax plan . Its a leap, i think, but what did you make of that . I find it interesting media is complaining the donald trump is not focusing on puerto rico enough. Obviously thats a devastating situation down there but then i looked at the press briefing yesterday with sarah sanders, this came out from the Media Research center, i know theyre conservative but usually accurate in these situations, quadrupling the coverage of nfl and accuse trump is not focusing on puerte rico enough. I decided to look at press briefing. You have to go 35 questions in before anybody asked about puerto rico. 10 of the first 15 about the nfl. Dont complain that the president is not focuses enough when youre saying the same thing. President is going to puerto rico. Neil theyre on him, that is is not paying enough attention on puerto rico. He is going to puerto rico. Disproportionate of their questioning on it. Lawrence, where does this go . This issue has permeated awards shows, emmys, sports and affected their ratings. I wonder how long and how far . That is the other side of freedom, neil. You have the freedom to make your political stance. People have the right not to support you as well. Neil, i am determined to not allow athletes and celebrities in hollywood to take away my fun. You can make your political statements. I can choose to disagree with you. But still watch your movies or sporting events. I dont come to the people for political commentary. I come to be entertained. That is the approach i would like to take. I will push back a little bit. I support the president s agenda economically and securing the border. I support what he is doing. The president has to take some type of responsibility for continuing to tweet about this and talk about. Every time he starts to do that, it brings it back into the news cycle. This Colin Kaepernick situation was dying before this was brought to life. Neil resurrected. Gentlemen, thank you very much. Meantime the president , this is tape coming into us with his meeting with Mariano Rajoy, the spanish Prime Minister. We have a very, very close relationship with spain. Mr. President , an honor to have you in the oval office. An honor to have you at the white house. Were going to be discussing trade and other things. We look forward to doing it. And mr. President , thank you very much. Thank you. [speaking in native tongue] [speaking in native tongue] did. Neil hoping for translation of this. If we get translation for this. Are we . Lets listen, guys. [speaking in native tongue] neil we are waiting to hear, he is talking about fbn and how much he enjoys our live coverage but you probably would not believe that. In case youre wondering what youre looking at, this is the president meeting with the Prime Minister of spain. The two have formed a very tight relationship since the latest terror act in spain and the president says he will stand by to deal with terrorists vigilantly and consistently. Lets continue to listen. Translator good morning. Thank you very much, i would like to thank President Donald Trump for the very warm welcome he has extended. You know that bilateral relations between spain and the United States are excellent. We have excellent economic relations. Trade is growing and we are the second highest investors in the United States and the United States is top investor in spain. We belong to nato and we have very good cooperation in defense and in the fight against terrorism. I hope that we will achieve the goal of our meeting seeking to economic growth, job creation and to continue to have very good relations between our peoples and the continued promoting democracy and human rights and especially the fight against terrorism. President rajoy and myself will speak outside. Were taking questions. I assume you are asking me only about spain. We love spain but they have other things on their mind, i have to tell you. We have a terrific relationship. That will continue and be stronger than ever before. So i will see you outside in a little while. Thank you all, very much. [shouting questions] thank you. Thank you, everybody. Thank you very much. Neil all right continuing to monitor that. Here the president earlier indicated on puerto rico, for example, before this meeting with the spanish Prime Minister, that he intends to visit puerto rico. He stood by his comments at private dinner at white house regarding the nfl, exacted a huge public reaction as it should, he said. The other News Development concerns janet yellen, her muses on economy, on inflation, on Interest Rates. Adam shapiro following all of that. Hey, adam. Reporter hey, neil. You can expect her to say as she already said that the fomc 2 inflation objection next two years will be met objective. The fed is concerned that there is not inflation they want and longterm pressures on lower wages may be at play. I want to read a few quotes from speech she is giving right now as cleveland as we run some of the headlines from that below. Downward pressures on inflation could prove to be unexpectedly persistent. My colleagues and i may have misjudged the strength of the labor market. My colleagues and i currently think this years low inflation is probably temporary. So we continue to anticipate that inflation is likely to stablize around 2 over the next few years. Some Key Assumptions underlying the baseline outlook could be wrong in ways that imply that inflation will remain low for longer than currently projected. And then this other quote i want to read to you about maybe even slowing down on normalization. She says, downward pressure on inflation could prove to be unexpectedly persistent. My colleagues and i may have misjudged the strength of the labor market the degree which longerrun Inflation Expectations are consistent with our Inflation Expectation oars fundamental forces driving inflation. She goes on to say they have to look at slowing down the current policies. Neil . Neil all right. Thank you, my friend, very much. That is slowing down the current policies could be telegraphing that they will not go willynilly hiking Interest Rates every other meeting. Maybe that whole agenda changed with inflationary pressures ebbing. Just quick kneejerk impression. The dow not Much Movement on all of this. Well have more after this. 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. 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Alabama senator luther strange, up former state Supreme Court Justice Roy Moore and it is an alabama battle royale. The president is on the side of strange. Some of his top former lieutenants, steve bannon, a host of others, behind roy moore, who might just get this. To the hill editorinchief, bob cusack if he does. And on what happens in that event. Madison, to you first. It has been read, if strange loses, it is bad for donald trump but isnt it a net wash if it turns out the republican nominee, whoever is ultimately nominee wins general election race anyway . Not as if they are voting against donald trump but what is your thought on it . I think concern for many republicans comes in with the fact that moore has come forward over the past week saying that he would not have voted for the grahamcassidy bill, he would have not have voted for earlier repeal and replace bills. Many people in alabama this is important issue. They think strange will be on same wave length as president , same again darks same goals of the president. If moore wins that would be wash on other issues. Health care specifically, doesnt seem theyre going to finish before general election on december 12th, it may be a big concern. Neil bob, the argument, it is sort of like the populist flank is requiring outdo the right populist flank donald trump sort of took to victory here . What are your thoughts on that. D. C. Establishment definitely wants strange to win. There is millions of dollars on his behalf. Moore raised basically one in 10 comparatively, moore has the lead. Why is that . Some say moore is like trump than strange is. Im with madison, you can count on strange to be more reliable vote, especially on health care. But at same time, it is still, i think the year of the out cider that went from set of 2016 to 2017. Trump will embrace more but Mitch Mcconnell, he has another headache. Neil you read my mind. Go ahead. Mitch mcconnell knows he doesnt want anyone who made a lot of controversial comments and media saying do you agree with senator moore on x, y and z. That is headache for mcconnell. Its a been a rough year for mcconnell. If he loses this, this will be a big loss. Neil whatever alabamaians think, they hate Mitch Mcconnell more than donald trump. I understand that based on things happened over past eight or nine months. At same time, donald trump won the state by 62 last november. He understand what is these people want. It would be smart for them to get on board who he is supporting. For simple fact this will be a strong hold vote for president , not what weve seen with a lot people across the country in the senate. Neil i want to thank you very much. In middle of this discussion, north korea saying were at war, were at war right now. Lets zoom theyre right about that. What do you think their next move . Theyre talking like the country is already committed to that. After this. What did we do before phones . They save us from getting lost, getting hungry, and getting nervous in places like this. Now phones can save us money too. Introducing Xfinity Mobile. With unlimited data for just 45. Thats the lowest price out there for one line. And you can get the same price on up to five. See how much you can save when you get unlimited on a new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. Neil all right. Never mind north korea says we started it. It is now warning it plans to shoot down any u. S. Bombers flying even near the korean peninsula, even if over international waters, after officials claimed that the u. S. Has with its language and tone already declared war with its own bombers. To house Foreign Affairs member, new york congressman lee zelden on the fallout. You know, congressman, it wont take much, probably wouldnt take much for this thing to really go bad, very, very quickly. What do you do . Well one thing, we know that kim jongun is homicidal and not suicidal. While some people were upset with President Trumps fire and furry tweet, the fact is if north korea attacked the United States they would be met with fire and fury. So for kim jongun to make provocative statements to, to do provocative things, it is one thing but i think he is becoming increasingly aware that we are more prepared for the full range of options from the unconventional to the conventional. Where a guy who is homicidal, not suicidal would be risking his own life, he would be giving it up over an attack on United States and he knows more of that now than he did in the past. Neil i was talking to a retired general, congressman, saying something to the effect. Kim jongun is aware what happened to Saddam Hussein and moammar qaddafi when they backed away or ceded to foreign demands, more in the case of Moammar Gadhafi in libya. He doesnt want that for himself. He feels his bargaining chip is this Nuclear Capability and thats, it will be very hard to dissuade him of that. How do you dissuade him of that . Well the, the unanimous vote at the u. N. Security council about a month 1 2 ago which included russia and china, was a big step forward. I wish that President Trump had more runway. He came into office in january. He didnt really inherit any strategy at all for dealing with north korea. Were way behind the curve, but weve seen a lot of progress get made with china over the course of the year, starting to accept more and more north korea as a threat to the region and one they need to weigh in to halt north koreas advancements. So, where you have that type of progress is great because you need to ramp up the economic pressure. If you dont want the military option, you start brainstorming all over other options, multilateral diplomacy, information, economics of the dime principle we operate off of, that is the only other way to deal with kim jongun, short of, you know, him just were humans. If he didnt wake up tomorrow morning well see who he would get replaced with but we cant control that. You know, at least, not part of the dime principle. So for kim jongun he needs to see that theres no way that his regime is going to be able, his country is going to be able to exist, when you have all of your exports and imports cut off. I dont know if we have enough time neil he survived very nicely with sweeping sanctions. Maybe these will be different. Im wondering now since he still plans to conduct this, you know, Hydrogen Bomb test over the Pacific Ocean sometime soon, the likes of which weve not seen on this planet since china did it back in the fall of 1980, there is a reason why such events are rare. They can take out electronic transmissions. They can cause planes to fail midair. That is not a good thing. They would have to telegraph that, announce that to the world before they do. Otherwise, you have problems. Would that be a provocative act in your eyes . Would that be a act of war in your eyes . I dont want to, speak for myself, i dont know if that would be enough to impact the United States where we would be acting on that. We kind of have to assess what exactly they would be firing and the consequences of whatever they would be firing to decide whether or not it would be crossing that red line. For me, the red line should be that north korea should not have the ability to attack the United States with a nuclear warhead. Where i said a few months ago where all of us were saying it might be as little as 18 months, now that timeline has been drastically reduced. I cant speak for the administration but, the, administration might take that as an act of war. I dont believe that, i dont believe that they would, but i have to defer to them. Neil yeah, you never know. Congressman, thank you for taking the time. Tomorrow though we will know, not about north korea, about the details of longawaited tax cuts. The president is expected to go on the stump beginning in indiana to pitch his case for dramatically lower taxes, something he said would be sweeping taxes likes we havent seen since ronald reagan. Tomorrow well know. So for once ive got plenty of time. Whats going on . So those financial regulations being talked about . They could affect your accounts, so lets get together and talk, and make sure everythings clear. Thanks. Yeah. That would be great. Weve grown to over 900 billion in assets under care. By being proactive, not reactive. Its how edward jones makes sense of investing. All right. Janet yellen, the fed chair expected to take questions from reporters on what seems to be potentially a slower pace for Interest Rates beards too soon to tell with my quick kneejerk reaction. When she does take questions, well go live. President trump to hold a News Conference with the Prime Minister. We go first to the rollout, the details of which we are told tomorrow. We met with members at the white house with the influence on house ways and means committee. Eight democrats, nine republicans from that committee and he did some generalities and some pretty big promises as they relate to the rollout tomorrow details within. The president said it would be a very comprehensive detailed report that he will unveil tomorrow about the administrations plans for tax reform Going Forward. One in which he said will create millions of jobs. The president also did detail to potential key parts of this and that relates to the Child Tax Credit and also would be nearly a doubling of the standard deduction. We will cut taxes tremendously for the middle class. Not just a little bit, but tremendously. That includes nearly doubling the standard deduction that most families take on their taxes and increasing the Child Tax Credit that families really want and have talking about a long time. Reporter earlier today, House Speaker paul ryan was asked if republicans need to get tax reform done because some of their critics say and some republicans across the country say you havent really gotten much done up until this point. There was ryans response. For tax reform is the most important thing we can do to restore confidence to this country, get jobs and prosperity and that is why we are so singularly focused on getting it done this year. Reporter as we lead up to this rollout of Vice President pens is up on capitol hill meeting with Senate Republicans who will be there for a couple hours now. He will be making this announcement tomorrow in the home state of indiana. Neil. Neil blake, thank you very much. Many focus on what the president has been reading about the nfl rather than tax cuts. Would he be better off talking about that and not the nfl. President and ceo lee speaker mintier. Whatever you think about this issue is robbing valuable oxygen from the time we should be talking about tax cuts. I think he can do both. The fact is what he is touching on her crucial issues for the country. We have to respect our flag patriotism. Its important. We also have a huge issue with Racial Division in this country and the desperate need for africanamerican advancement in real policies. Neil because the president said what he said that it galvanized . It did. Heres to me what it laid bare. First of all, this started a year ago when Colin Kaepernick sat for the National Anthem. Where was Roger Goodell . These guys are very active in their community. They know whats going on. Hes paid 35 million bucks a year. That isnt good enough. Jerry jones last night, im a rabid cowboy fan. I would pay that he said a fantastic example. Thats the kind of creativity. Neil before the anthem and lock arms afterwards. Got up and stood for the National Anthem. All the players were in uniform. That is the kind of creative thinking in which the commissioner brought to the nfl. Just as he did when you realize we shouldnt be giving money back to the networks. Neil i remember that. All of the wealth and success elite enjoys now. Neil i thought that was an obvious thing to do. I thought it was very smart. Thats a way to handle it. Be united with your players. But they might not repeat that on thursday night, might not repeat it this weekend. What you think . I think Rogers Goodell should have a Conference Call and strongly suggest you follow that example. The other thing to later there is frankly a lot of white people unfortunately just dont want to talk about these issues. They dont know what its like to be black in america. Being a black millionaire is tougher than being a white millionaire in almost every case. A lot of white people dont want to hear that her talk about that. I wont President Trump to take the lead on that indicated. A term supporter, but i wish he talked about those other suvs. Neil by uniting team owners to sort of obviously take their player side and say you, mr. President have interfered in our workplace, representing what we do with those sob players. President trump is galvanizing his place. Neil do you think it was deliberate . You know what time it really bothered him and President Trump has an ability to pick up on sentiment out there before a lot of other people cant elect it. It was really bothering people and he sees it. I wish as he had said those other sob are the white supremacist and racist and he can well do that. What he needs to do now is really launched some breathtaking and historic policies. Neil we do know the ratings for these award shows, when they get too far gone in politics, they do lose people. People are tired of it. People in politics went to resonate from it. One of the few in additions in our country that is unified our racial groups come in many different religions or politics really was not front and center and now has been poisoned. I think jerry jones, Roger Goodell and President Trump together, the three of them want to help lead us toward reconciliation and getting back on track. Neil i agree with everything you just said. President and ceo as he was speaking. Janet yellen has started to speak. Shes taking questions right now. This could telegraph which is going to do regarding Interest Rates. The prevailing betty shes going to hike the market kameny to the end of this year. They seem to hint at that. Or maybe not a lot of that. Lets follow this. So my expectation is the inflation data in the coming months on a monthly basis will move up somewhat close towards the object is. But again, remember inflation data is very noisy month to month. Hopefully this isnt too much in the weeds, but there is residual seasonality in inflation data that will tend to result, i believed in lower inflation reading in the second camp of the year that also makes an interpretation of monthly data difficult. Finally, we have the devastating hurricanes that have wreaked so much have it for so many families and communities and our country and that may be pushing inflation not at least for a couple of months. Weve seen it has an effect on gas prices. So yes we will be looking at inflation data very carefully and trying to see what it tells us. That i can i think its all of you know when you look very carefully at a wide range of statistics, that the data is noisy and its not going to be a magic bullet that is going to tell us the answer. Will be looking on it. But let me just say a string of unusually low numbers would question the direction of making us worry more about inflation. But the labor market is also really weve been running at about 175,000 jobs a month for this entire year, which is well above the 100 or 120,000 case that would be significant consistent with a stable Unemployment Rate or utilization. So we are on a path, intentionally, so this is consistent with the fomc projection in which the labor market is getting tighter. Unemployment is likely to drift and you can see that in our forecast below the level we think is sustainable in the longer run, which is good it will tend to push inflation back to 2 . But there are also risks of a significant inflation issues that could leave us behind the curve and tighten policy is faster than would be ideal. Well also be looking at labor market data surprisingly, some way for example, if it were surprising in terms of more strength than we had anticipated that would tend to add a bit to the risks on the side of waiting too long. Im sorry i cant give a clear answer, but those are some of the things well be thinking about. Stain on the topic of inflation, you have mentioned it would be dangerous to see a material decline in Inflation Expectations. Given that then, how do you view the possibility of an inflation overshoot its influence and say the credibility of the 2 target . So, we think it is extremely important that the public understand we have asymmetric inflation object to. We would ideally like to be a 2 , but inflation is variable and sometimes inflation is going to be below 2 and sometimes its going to be about 2 . We feel like that under shoots an overshoot of inflation. So, you have an undershoot. It would not be a tragedy to see an overshoot. In fact, it is something we ought to expect. We did change her statement of longrange goals where we articulated our inflation object is backing 2012. About two years ago we added the word symmetric to the language about our inflation objective to emphasize 2 is not stealing. Some people think we will be willing anything up to 2 inflation, but anything above that is absolutely terrible. That is not right. 2 is our goal in this. Just as we dont want shortfall, we also dont want this to think. Thank you. Stay with inflation, should the flood differentiate between inflation was supply shocks versus negative demand shocks . Well, i guess my basic answer would be no comment that we have the 2 inflation object to and even the low inflation is caused by supply shocks, whether that in the 1990s we had a market acceleration in productivity another positive supply shocks. If it is caused by supply shocks we should want to get back to 2 inflation. The reason is depending on the average level of nominal Interest Rate in that economy depends on the average level of inflation. If we accept good lower inflation as an ongoing basis, there are 2 object to, we would see a corresponding with lower levels of average shortterm Interest Rates and that would be dangerous phenomenon i believe especially in these times when the real neutral level of shortterm Interest Rates is regarded as low because if we were to experience to make the demand shocks of the scope for easy Monetary Policy depends on the average level of shortterm Interest Rates. Of course, we have tools that we deployed when we are faced with the socalled zero lower band back in 2008 when we were effectively lowered shortterm rate, we used asset purchase is and Forward Guidance and so there are tools available to be used, but never the last, reducing the scope for using our standard tools of Monetary Policy is not something i would like to see happen and simply allowing for whatever reason inflation to chronically run below 2 i think would be a bad idea. Okay, so that is a good segue and given the number of questions ive seen here, is the 2 inflation rate too low or should it be higher . Well, this is a matter that quite a few academic and business economists are opining about. I should say that it is not some name the fomc is currently can do during that we have on our agenda. The reason this idea is getting so much attention is one that i think is important to the public to understand and that is the evidence suggests not just in the United States, but globally. I think due to slow product to be growth, which we have seen not just here, but in many parts of the world as well as demographics and population, it looks like in some sense the strength of underlying demand is weaker than its been historically. Or lets say theres a lot of intended saving and investment that is pushed down the level of equilibrium Interest Rate. In a world for equilibrium Interest Rates are low, that is something that tends to mean the average level of shortterm Interest Rates well below. With higher inflation you would be raising the average level of shortterm Interest Rates point for point. So what is the reason namely to give more scope for Monetary Policy to address the shock that something people could be accomplished with a higher level of inflation. I guess i would simply say that in analyzing that, which would be researched looking on it, we need to consider not only the benefits, but also the cost of a higherlevel inflation and for a variety of reasons, higher inflation may distort price signals, may lead to more variable and volatile inflation and impose costs on people who have a variety of reasons to take into account in planning so its not a straightforward decision. It is something the committee considered carefully years ago when we adopted 2 , but it would also need a serious reconsideration of cost and benefit. Okay, next question alludes to it maybe could be called renewable savings, but holding down Interest Rates globally and that is perhaps also reflected in a very narrow term premium. Could you comment on what is causing the narrowness of the premium and how that may evolve Going Forward . I guess the term premium come youre talking about the night dates just globally . Yeah. Was estimated that term partly the Balance Sheet was one we acquired those assets were consciously by removing duration from the market and taking it on to our Balance Sheet. The conscious reason for that was to drive down longerterm Interest Rates like term premia. As you know, weve announced the beginning of a very gradual and cautious process so we are beginning to shrink our Balance Sheet again. Our Balance Sheet is observing and will for some time some downward pressure. In addition, there are significant spillovers from foreign monetary policies, globally into u. S. Interest rates. So the substantial asset purchases by the bank of japan and the ecb i think our impact and come in making our yields look attractive in comparison with errors and pushing those down. Related to that, what would you give us in the ring of estimates as we were not safer hundred alien of treasury securities, how much upward pressure with output on . I guess they dont have a 100 billion a metric for you, but i would say that according to a recent study, our program of asset purchase is they give lower term premia or longterm Interest Rates around 100 basis points. Now, that does not mean tricking our Balance Sheet is going to raise it by 100 basis points. For one thing, our Balance Sheet is sure to end up while substantially smaller than it is now at around 445 trillion. It will likely surely end up substantially larger than it was before the financial crisis. There will be some upward pressure i believe on the term premium. It will be something gradual and it will take place over many, many years. So, in even by the time a Balance Sheet is normalized in size, the maturities of our Balance Sheet probably remain longer than if we used to be before the financial crisis. I think there will be some upward pressure on the term premium as our Balance Sheet strings, but nothing like 100 days this point. Last question. The part of Monetary Policy im not going to use the term autopilot, but as boring as watching paint dry lets say. We got that taken care of. The policy rate normalization is expected to be reasonably predictable. Do you think there any downsides to that predictability, lessons to be drawn from the quarterpoint increase meeting after meeting at the time he first joined the board . Are there any downsides to that degree predict ability . I want to be careful. I am not sure that our path of rate increases both the predictable. The economy is capable of generating many surprises and we will calibrate Monetary Policy as ive tried to emphasize to unfolding developments in our reassessment of them. This has been a problem for rod when we began to publish the committees rate forecast. We thought that was something that was helpful and we even threw in the media and in our socalled rate forecast because we thought it would be helpful to the public and getting a sense of what the committee thought it would be appropriate policy to the economic developments would unfold. I would characterize the path that you see now and have for a long time as a gradual path. But i want to emphasize, that passes the check to a great deal of uncertainty and there is nothing set in stone, not to the committee as a whole and not for any single individual who is writing down their forecast when were all looking at incoming data and revising our views. As i mentioned in the talk, our views over the last several years on a sustainable longer run employment smoothed down considerably. But equilibrium rate of interest, which is an important determining of what that looks like it has also moved down considerably. Professional forecasters like yourself also moved those estimates down. What we should do is more surprises that will move. Of course, there are all sorts of shocks to the economy when we started raising the federal funds in 2015, i believe they suggested there would be career for increases that first year and there was one. In 2016, we again raise the funds once, although i believe at the beginning of the year they suggested participants thought there would be four increases. I look back on matt and i dont feel it was a mistake. Monetary policy now broke global shocks that accounted for that in equilibrium rate of interest. Im not envisioning a pass like that quarterpoint predict the ball meeting after meeting, but i do think there are good reasons to think its not even perfectly predictable, the path is likely to be gradual, that most economists estimate equilibrium will raise interest below. That means Monetary Policy will currently accommodate us in the labor market continues to tighten. We have low inflation. We are below 2 in terms of inflation and its not that much accommodation left is the equilibrium low Interest Rate low. So to get to a neutral stance would require a bit more tightening, but not in excess of the amount. I think gradual is reasonable. Okay, so that then we are done. That will conclude our remarks. Thank you for being with us. Neil youve been listening to the fed chair janet yellen. She mightve just said, you know, breaking his changes everything. My expectation is we will see a couple more rate hikes over the course of the next year. When we started this process going from 0 Interest Rate, the federal funds of landing a couple years back on the expectation was three or four rate hikes that year. We saw only limited up a quarter , saying there is no guarantee that things will follow a pattern that they will go well. They need a little bit more ammunition in their quiver to deal with problems that could come up when they need room to bring rates down. They wont always have the luxury of buying a lot of treasury notes in securities for trying to unwind about for 25 trillion worth. The readout on that from a friend market watcher scott shellady. The rates are going up in the markets seem to be okay with that because it doesnt look like they will go up a lot or a lot fast. I agree. We can see a small rangy red mayor. At the end of the day, shame on me or anyone else that actually listens to what she has to say because youre exactly right. We are looking at three, maybe for rate hikes a year. If you go back and read what the fed has said, we are nowhere near where they thought theyd be at this time. I have to take what they say with a little grain of salt number one. Ultimately, we are not on an island. Theres other things happening around the world that also affect us. Theres a lot out there and i dont think the economy of 2 , which is where they are because they are shaky. We are going to rip the face off of rates and raised in ohio. If we did taxes and its a big if, with that compel the Federal Reserve to be more aggressive . Well, it might make it easier for them. I dont think you can be really aggressive. If i could address the one point about raising points now, that is kind of funny was take the patient off of life support so we should get sick again we can put her back on my support. I mean, that doesnt make sense. Neil that is very good. I wonder why obviously the rates are very come at very low, so something goes bad you want to start cutting rates now. If these rates you dont have a lot of wiggle room. It is a backwards way to look at it. That is not a positive way to look at your economy. The three economy. Lets hurry up and raise them so we have ammo when it goes bad again. I do like the way the top process goes out. Youre not going to miss the boat on some sort of deal because rate hikes will get away from you. At the end of the day, we are not growing that fast. The good inflation and gdp. We see those things take off before the fed gets involved in aggressively raises rates. Until then, more of the same. Neil thank you very much. Scott shellady. When it comes to this stuff, thank you, my friend. Speaking of all things watching and what happens in terms of stimulation. Waiting to hear what the president might be outlining what this big detail and tax cuts. He of course, the Prime Minister, Mariano Rajoy. A lot more after this. Fidelity, where smarter investors will always be. Has gotten to know our business so well that is feels like hes a part of our team. With one phone call, he sets me up with tailored products and services. And when my advisor is focused on my tech, i can focus on my small business. A dell advisor can help you choose the right products with powerful intel® core™ processors. Theres nothing more important than your health. So if youre on medicare or will be soon, you may want more than parts a and b heres why. 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Remember, Medicare Supplement plans help cover some of what medicare doesnt pay. Youll be able to choose any doctor or hospital that accepts medicare patients. Whether youre on medicare now or turning 65 soon, its a good time to get your ducks in a row. Duck quack call to request your free decision guide now. Because the time to think about tomorrow is today. Neil outside the rose garden with the president of the United States and Mariano Rajoy, Prime Minister, will get a couple of questions at least we hope on the tax cuts because it is certainly an issue near and dear to my next guest, congressman dave kraut of the fine state of virginia joining me right now. Last time we chatted, congressman, you are concerned about some vital conservative points being left out of the tax cut or thought that it might be. You guys are not in the spirit of Freedom Caucus itself is not in the tax cut. Does that bug you . It is bugging me a little bit. The word coming out right now is were looking to a pretty good morning tomorrow morning when they share the rates. My major concern was the escort. Were starting to hear coming in at 25 and at least a fairly equitable way and then a tax cut for the middle class and of course zero and that this is getting jobs and wages going up for everybody back home. This is different than health care. Were all working together, compromising. I think everyone is listening. Tomorrow is the good news and then the thing to watch for is civil, and mike for power. Neil whatever you want to call it on this notion of using back on deductibility estate local taxes. A lot of high tax states like new york, illinois, et cetera. They are not going to give that up easily. Would you say to them . Welcome the counter as everyone everyone is going to be better off. I see some of these numbers people or deduct in net state level. If that is not u2. Com has got to go through which you get off. At the end of the day, its apples and oranges. That is just the beginning. The swamp is all the lobbyists, all the cronies will go when and thats where leadership will have to stand firm. Neil your leadership of the Freedom Caucus or in general . No, republican leaders. Mitch mcconnell, the president , whenever one comes in and says i want my piece of the pie and its not in the best interest of the country as a whole. Neil do you think this will be easier than health care because folks like orrin hatch, Senate Finance Committee Member or chairman saying this might be more difficult and this may be a next year event. I hope not in either hope not and i dont want to hear any of that language. Most of all the conservative groups are in favor of it. The American People are in favor of it. Over 2000 bucks a year back in their pockets depending which bracket therein. Neil youve been told all the rates at all the rates are coming down . Yeah, yeah. People are going to be pleasantly surprised. Once the special interests make their way in, we will run out of money if you dont get rid of loopholes and special pages. Rates will start to creep up from 20 to 22 to 25 to 27 and that is none except the bull. That is where the American People have doubled us in check. You are the boss. We just represent you. Its our job to get it right. Neil do you know whether those rates will be retro rock is . In other words, and beginning of the year or are we getting ahead of ourselves . You will know by tomorrow midday. The details will begin. Neil as you know, congressman, there will be no great cut that they would be left out here. You are saying they wont be left out and although some would like that come others say wait a minute that will tonight the president s chance of getting any democratic votes. I dont know whether he wouldve gotten anyway, but what are your thoughts on that . I think your intuition is right. We had some of the more moderate senators working on health care trying to democrats and moderate bills, with zero effect. They said as much yesterday in the news. Same on taxes. The key with the riches its not about income redistribution. Its about economic growth. Weve got to keep our eye on my prize. Even if the rich dont get a reduction to the escort and a c. Corp. , in fact they will be put into a much better position. I think everyone will come out way better off than that is the key to focus on. Neil congressman brought, the house of Freedom Caucus come a key instrumental player with supplyside way on the party. We are expected to hear from the president of the United States, the Prime Minister Mariano Rajoy, when the questions, they will be talking about the nfl. Theyll be talking about investigations and hearings and all of that. From the rose garden, we are back after this. 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 neil ahead of the president coming out with the spanish Prime Minister, we are learning the Trump Administration is taking screws a little bit more north korea, sanctioning at least eight north korean banks in 26 bank workers we are told living abroad. That is what we know right now. We dont know the details, but it follows on getting the chinese to agree to freeze all funding for north korean entities. A lot is going to come up on this press conference here. Maybe north korea matter, but you can bet the nfl whether he is galvanize something thats probably bigger than even maybe he was originally looking at. Jared max from fox News Headlines 24 7 fox News Reporter extraordinaire. Where is this going because the escalade debuted the Dallas Cowboys find a way to find a middle ground here. What are your thoughts . I think this keeps going up on every direction its going until a bigger story knocks out the front pages, which may be difficult in sports because it involves so many people. The Dallas Cowboys last night by both kneeling and standing, what i saw was they were almost trying to appeal to both sides to appease everybody. The Pittsburgh Steelers Coach Mike Tomlin had in mind when he said we dont want to get people involved here. So we would just stay in the locker room. The cowboys are trying to keep everybody happy. How far this goes, who knows. This one went further than people expect it and its gone in a different direction than the president might have intended when he told 32 nfl owners of fire those sobs has taken me. When you get to the age 18 you say dont tell me how to run my life. In business terms you say dont tell me how to run my business. These are Business Owners come in many of them has supported President Trump and made financial contributions but essentially said this is our business. Please. Neil he wasnt trying to reach those owners that he wasnt talking. He was talking to the American People about the ethics and behaviors theyve seen ethics and behaviors theyve seen play out at games and even award shows like bmas recently. People are getting annoyed whether they are on the left or the right. They want to be entertained and they cant do that. I think sports and even similar social media. And media. Nfl signing a deal with facebook. You may see lots of rain, but dealing with certain protests. Weve all at different times gone on to see a timeline and to see our timeline in using too much politics. Im not going to do with this. Sports fans feel by and large the same way. For the players who have been kneeling all along through starting last season up until now, i wonder what their take is on whats been going on the last few days as they look at this and see everybodys on board. But it could be potentially look at this and say they are not really with us. This is for a whole other reason. Neil do you think this will ultimately have an effect right dont know the immediate ratings to see whats going to happen and they might do now. Is that as the president says that it is losing support among viewers and this continues and is accelerated this past weekend. We know when a hard reliable numbers . We really dont know reliable numbers. They had dipped the first few weeks. It was a mixed bag so we dont know where it goes. Again, watching football in a different way. We consume highlights differently. I can click a little that does watch highlights so i can do that. Instead of necessarily dedicating a full three hours on a sunday which i may or may not have, i can condense things doing it this way. People get tired of the protests of anything political with the sport and when it goes and goes come eventually you find somewhere else to have your fun. We do need sports and we need sports to be independent of politics or anything too real. Its leisure in a great need for it. Neil this may be an isolated incident, but these fraud charges against some of the countries premier College Basketball programs and pay for play for kids and getting Financial Advisors and sports paraphernalia like a deed as an all bad. But its another wrinkle and another black eye. What do you make of that . I would like to see fee for an International Olympic committee get into a ring and figure out whos the most upstanding. Theyre always pretty good on infractions and then we see things like this. You say how does this affect my team Going Forward. This is about individuals. So hopefully no vacating of wins. Maybe there will be ncaa sanctions that this is an fbi deal. People know the name while because he played as an assistant coach. All these guys here are associate coaches. A former referee in the nba and college on both sides. A lot of people from adidas. Do you know to dday stands for . All day i dream about scandals. Neil you are pretty good at what she do. Fox News Headlines 24 7 sports reporter. Much, much more. The guys in. The guys in cyclopedia appeared with a tear for the president of the United States, the spanish Prime Minister Mariano Rajoy. Everything does come up on the sessions. Stick around. Is this a phone . 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. Neil awaiting the Prime Minister of spain and the president. The massive data breach scandal. Deirdre bolton here with the latest on all that. Beall, hi. The hack costing the ceo his job. Releasing a statement saying we were mean deeply concerned and totally focused on the cybersecurity incident. The board looking for a new permanent ceo. The previous president of the Asian Pacific region serving as interim ceo. Industry peers say at what facts could have been avoided. Numerous warning of its vulnerabilities. Either incapable or competent but did not seem to lack said the ftc is investigating the cyberattack. The department of justice launching a criminal probe into insider training of three highranking executives. The stock 1 today has lost about a third of its value since the hack became known in september. I want to point out it not just the ceo. There were some firings or forced retirement last week as well. Two of the people in charge of the Actual Technology were let go. Back to you. Neil if i remember, he was supposed to be up on capitol hill to testify. Doing a feel make any executive available because he was out of there. The company has not said. Im personally assuming its the acting ceo. To your point, as we said out as of today and i was crystal clear. A lot has been made back and forth. We are waiting to hear from the president and of course the spanish Prime Minister. The timing of which come tomorrow. You follow the market very, very closely, very, very well. Are they depending a lot of their hopes on this momentum continuing this year . I think if we had a tax plan this year, we would see an extension of this incredible bull market that we have seen because there are lot of investors waiting on the sidelines. We have been talking about Corporate Taxes, how ours are among the highest in the world. So many other places where it is cheaper to open a business come in cheaper run a business. Ireland, many people point to as our biggest competitor at 15 and we are north of 30 in most cases, especially Corporate Taxes as many people as that ireland has taken a lot of our tax business in the sense there is an englishspeaking population. All you have to do is fly into the airport and see tons of u. S. Companies with u. S. Bases. Receipt in the pharmaceutical industry as well. We then covered a few more than a few last year sort of reverse mergers where you have an American Company being willing to be purchased by adobe by european country for no other reason than to get the favorable tax treatment. If the plan passes before the end of this year, i think thats incredibly optimistic for business confidence, ceo confidence. Its incredibly bullish for mergers and acquisitions and incredibly bullish for the stock market. Neil we expect to hear from him any minute right now with the spanish air. One of the things that i think mightve been a tip earlier today is the notion that everyone dave brat of course, the conservative Freedom Caucus of virginia didnt get as much per the flipside is the fact that hurt the president , right . Is certainly good. There has been a lot of populist backlash in the sense of people saying trickledown theories. Neil thank you very much for the president of the United States and his counterpart from spain. Afternoon. Greatly honored to welcome the Mariano Rajoy of spain. Its a great honor to have you at the white house. Thank you very much. You just concluded a very productive conversation on a crucial range of economic insecurity issues. Before we begin, i would like to take a moment to send americas hearts and prayers to the people of puerto rico and the u. S. Virgin islands. Both have been devastated and i mean absolutely devastated by Hurricane Maria and we are doing everything in our power to help the hardhit people of both places, puerto rico and the virgin islands. A massive effort is underway and we have been really treated very, very nicely by the governor and by everybody else. They know how hard we are working about a good job we are doing. As we speak, fema, our great First Responders and all available resources including the military rb marshall do save lives, protect families and begin a long and very, very difficult restoration process. I have collected all relevant departments and agencies to assist in the responsive recovery effort. As governor of his fellow just told me this morning, the entire federal workforce is doing great work in puerto rico and i appreciated his say in it and he it and hes saying it to anybody that will listen. The team has been incredible after having gone through texas and then florida, with other stops along the way. And he further went on, through the Trump Administrations leadership, the relationship between fema and my team is very, very i will be going to puerto rico on tuesday. I will also go to the u. S. Virgin islands. Over the last several weeks our nation has been tested by the Destructive Force of Mother Nature but well respond to it with even mightier force, the resolve the american spirit. Texas, louisiana, and florida are in really good shape and moving along well. We thank all of the firstresponders and volunteers who have risked their lives. Thats what they did, they risked their lives. To all of those impacted by the trouble, and these horrible hurricanes and storms that have effected and impacted our country, i thank you. The Recovery Process will be a very, very difficult one. We will get through this and we will get through it together. We will be stronger. We will be bigger, we will be better. Thank you very much. The United States and spain are great friends and close allies. Our bonds, culture and commerce go back many centuries. Our schools teach American Children about spains history of exploration. Our museums treasure beautiful spanish works of art and our countrys contributions to architecture, music and film are admired all over the world. Take, a greatly admired country. The deep relationship between our two people is a Strong Foundation for lasting cooperation. On behalf of the American People, i want to express our support and extend our prayers to all of those affected by the vial terror attack in spain last month. I want to assure the people of spain that america stands with you in confronting this evil that threatens all of humanity. We will continue to deny the terrorists their fundings, their territory, and any form of support for their wicked ideology. In this common fight america greatly appreciates spains contribution to the coalition to defeat isis. Spanish troops and police have trained more than 30,000 members of the Iraqi Security forces. We also thank the spanish people for being such gracious hosts to the american servicemembers stationed at spanish bases. The United States and
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