Trend but just an adjustment. Here is his rather ignor ignoret statement about Interest Rates. To ensure against down side risk to provide support to the economy. If those factors are pushing down on economic growth, then to support inflation. We think it will serve those goals. But were thinking of it, essential well nature of mid cycle judgment. Lou a mid cycle el anxiety jus. Dow sold off and nasdaq down 155, s p fell 45, Edward Lawrence with more on the story from the white house. Reporter the Federal Reserve cut rates a quarter of a point. But not everyone in the room who was voting was happy about it. There were two decenters, boston Federal Reserve president , and kansas city Federal Reserve president , they thought that fed fed funds rate needs to stay where it was. In end Federal Reserve chairman powell said it was nothing within u. S. Economy domestically that called for a rate cut. To your point this afternoon, Federal Reserve say the in light of implication of global development, they are making the rate cut, that would include other Central Banks in the world siding stimulus to their economy. Fed to chairman saying that weakness in manufacturing and Business Investment goes to perception that tariffs are bad for the economy. He adds it will not be a be a lg period of rate cuts but also not one and done. Do that if you saw real economic weakness and you thought that federal fund rate needs to be cut a lot. That is not what were seeing, were seeing it is appropriate to adjust policy to a somewhat more accommodative stance overtime. Reporter at one point powell seemed to take credit for the economic expansion, keeping that going, he said that the fed or as fed moves to more accommodative policy, they see low unemployment. Raise wages rising and consumer spending. There is no reason that expansion cant keep going, there is no sector that is booming and therefore might bust, have you a fairly well balanced, in a sense, economy. Reporter president wanted a half Percentage Rate cut this afternoon, tweeting, what the market wanted to hear from powell and Federal Reserve was this was beginning of a lengthy and aggressive ratecutting cycle, keep pace with china, and other in the world, as usual powell let us down. Experts or some say that waited too long for that, they believe that Federal Reserve should have corrected the mistake they made last december, according to at least st. Louis Federal Reserve president , where they had a rate hike, they waited 7 months for this rate cut. Lou he made one mistake, high cut rates then started he cut rates then started talking, ed lauren thank you. There are a number of breaking development from middle east, Trump Administration has new sanctions to irans top diplomat tem temporarily reservg part of the obama era nuclear deal. New sanctions again irans foreign minister, saying he has been complicit in tehrans behavior. While new sanctions added, others waived. Fox news confirmed this Trump Administration plans to announce extent shin oextension of 5 waic power tomorrow and to be reissued for another 90 days. White house tonight says it is closely watching movements of Chinese Authority in hong kong, after weeks of protests there have been a gathering of chinese troops, at the border with hong kong, including Armed Riot Police in hong kong train stations, communist party accusing United States of helping to incite the demonstrations, they started two months ago. Joining us from white house. National security adviser john bolton, great to have you with us. Lets starts with the sanctions, again foreign minister of iran, following their. What are we doing here. We would guard his activities. Frozen any assets in u. S. , and restricted his activities those of people who do business with him. It is a significant decision, that sends signal that we consider zarif. Zarifan illegitimate spokesperson for tehran. Without any question. We designated quds force and Islamic Revolutionary guards, were concerned with more than just irans aspiration for nuclear weapon. Lou our pentagon reporter, and producer have confirmed Washington Post story, that the Trump Administration has waived 5 Nuclear Related sanctions again iran. After all of their aggressions. This is hard for me, at least, to square up immediately. Well, let me see what i can do. I think the idea here, were watching those Nuclear Activities very, very closely. They remain under daily scrutiny. And it certainly the case that nothing that we see that contributes in anyway to the possibility of Iran Nuclear Weapon capability are we going to per me. This a short 90 day extension, this is intended to be under constant observation, i keep my eye on that spot. Lou i assume you are the designated observer of that 90 day period. Watching also closely as always, north korea. Which launched against two short range ballistic missiles. Provocation, provocation that some believe is directly tied to the trade talks with china. Which have ended at least to this point without resolution. What is going on there . I think on the trade talks, well be expecting the president will have a chance to hear from lighthizer, and Steve Mnuchin tomorrow, they are on their way back from shanghai tonight. Next negotiation is not scheduled until september, well have a better chance to speak to that after we heard from the negotiators. I will say, i think that the president taking this really unusual step of meeting kim jongun at the demilitarize zone, on june 30, has against opened door for north korea to make a strateg strategic decisio give up nuclear weapons,. Now the firing of these missiles dont violate the pledge that kim jongun made to the president about intercontinental range of ballistic missiles, but you have to ask when the real diplomacy the begin. As kim jongun again, said, on june 30, he was prepared to do, were stal still waiting to heam north korea. Lou since that summit, 5 weapontivity tests, and no deals reached, process goes on. Were looking at a build up of Chinese Forces on the border with hong kong. Does this imply in your judgment the prospect of military force to be used by beijing against the demonstrators in hong kong . I dont think it is accidental, i heard rumors from friends in region about this. And people expressing concern. I would say i hope that people who remember what happened after tiananmen squir square in june f 1989, take that into account. I think that china made a commitment from the declaration to give hong kong give years of separate status after the hand over. If china does not offer its International Com commitment tht sends a signal for other possible commitments they might make in the future. Lou john bolton thank you. Thank you, lou. Lou there is word that the son of Osama Bin Laden is dead. A number of news outlets cites u. S. Officials confirming death of hasma bin laden. In february. The state department, began offering a 1 million reward for information leading to hazmarcmn laden. Up next, antitrump cnn, fails to mention robert mueller, the special counsel, his report, the president s exoneration. That is after the mueller disastrous testimony under cut their phony russia collusion story line, things got complicated at cnn. We take up that and a great deal more with attorneys victoria tensing and joe digenova. Ugly scene in cincinnati. During a Major League Baseball game, after the break. Stay with us. Here you go little guy. A cockroach can survive submerged underwater for 30 minutes. Wow. Yeah, wow. Not getting in today. Not on my watch. Pests never stop trying to get in. We never stop working to keep them out. Terminix. Defenders of home. Helping kids like grace, and her whole community, to shine. Theres nothing quite like it. At world vision, weve seen what happens when a child gets clean water, or nutritious food. When she feels safe, gets to learn in a classroom, or discovers that she has infinite worth. Together were working to help every kid, everywhere, grow into who god created them to be. Reach out with us today and help people change their own lives for good. Learn more at world vision dot org. [announcer] your story doesnt have to end. As an organ donor, the good in you can live on. In fact, you could save up to eight lives through organ donation. Sign up to give the gift of life after youre gone. Youll be happy you did. Just maybe, someone else will too. Sign up online today as an organ, eye, and tissue donor at organdonor. Gov. It saves lives. Lou President Trump weighing in on twitter after radical dimms debate last night, saying if i had not won 2016 election we would be in a great recession, depression, right now. The people i saw on stage last night, you can add in sleepy joe, harris and the rest, will lead us into an economic sinkhole, the likes of which weve never seen before, with me, only up. President just tweeting this about cnns poor performance last night, saying, very low ratings for the democratic debate last night, they are desperate for trump. Joining us tonight, former Reagan White House political director, fox business analyst, great american, and savant. Ed rollins. I grew up near Shipyard Town vallejo. Lou near where . San francisco and berkeley. I went through that berkeley movement and hate ashburyy what have you, i thought i was asking that with former hippies promising everything lead by zodiac girl at the end. Lou marianne williamson. Now the big star of the stage. Lou new age. New age. Lou he said she not new age, but whatever. There is a dark side to all of us, and donald trump is ultimate dark side, my favorite, see said, talking about health care reform, all we have to do is get rid of sickness. Lou you cant argue with that. No less achievable than say a hundred trillion. Everything last night was tax the rich. Let everyone in the country for free, given free education. Lou you take them more seriously than i do. There is a there is just not a sufficient number of americans who lack the understanding that a hundred trillion dollars and destruction of the American Economy is a worth while pathway to nirvana. It was a minor figure compared to by end of night, if you added it all up, once they call moderates, those those radicals add faster than i did. They are really left wim win. Government takes charge, and doles it out. Lou looking at senator warren, senator sanders, real quickly. They sort of assess things last night. Medicare for all is comprehensive, it covers all healthcare needs, for senior is citizen is will include dental care, hearing aids and eyeglasses. You dont know that. I do know, i wrote the damn bill. I get a little bit tired of democrats afraid of big ideas. You know, i dont understand why anyone goes to all trouble of running for president of United States just to talk about what we really cant do and should not fight for. Lou you know, i thought that was rather mannered and orderly. And you know people tried to make much of it i thought they were actually very calm. I thought it was frightening to me, honest. I was thinking back fondly on Hillary Clinton, you know how much i despise Hillary Clinton. As i watch this, idea these two people bernie and Eli Elizabeth warren would be serious candidates is astonishing. How about Sleepy Joe Biden and kamala harris, do they suit you better. Lou better . No, they dont, my fear, i dont to get come little bit complacent, but i dont think they can sell to the american public. I believe that trump could kill any one of them. Lou the president is trying to deal with a Federal Reserve, we just watched powell. The head of the fed, fulfill the president s description. An act of incompetent, failure to communicate clearly and reasonably, saying that a quarter basis point, think about it. They come out at fed at 2 00 sharp, announce 25 basis point cut. 37 minutes later, were in middle of a market selloff because the fed chairman said this was an adjustment not a trend. This is preposterous what he did. Reality, there should have been a huge market, not being an economist, i assume when he made the correct decision of lowering rate there would be a boom, i think his lack of confidence and almost like he was mor forced to make this decision, this correct decision. Lou the Market Investors had already been aware of 25 basis point cut, they knew there was not going to they knew. They assume there would not be half a point cut. So they had discounted what did happen. They didnt discount the fed chairman being silly enough to talk about adjustment instead of trends and having a databased rational empirical approach to rate management. To think about this fed. They have the idea suddenly they are smarter than the president , they are smarter than the markets and all of the investors who make up that market. We have folks running here, who happen to agree. As much smarter than market, that is pure nonsense. President right now. He is on a heck of a streak. A great week. Lou great two weeks. Yes, my sense, normally president s go away for month of august and disappear. A lot of junk happens, i think this president will continue working as hard as he does. Lou i thought, the other day it was interesting. President gave a glimpse to his nature, he started talking about he preferred to be at white house, working. That really is who he is. It is. Lou his work ethic is a standard that other president s will whine about for decade to come, he is going to make them have to work. The expectations are charging about how that job should be. 20 hours a day, he is up and functioning, he sleeps very little. Lou me too, every week. Ed rollins thank you. You bit. Lou up next, another round of trade talks with china, we take it up after this quick break. Lou the chinau. S. Trade talks with ended in shanghai. Representative lighthizer and secretary treasury secretary mnuchin, on the way back to the United States joining us tonight to assess where we are. In those talks. Where we are geo politically. And militarily, were joined by dr. Michael pillsbury, from hudson institute. And michael great to have you with us. Unresolved trade discussions and negotiations. Next stop september some time. Your thoughts about where we are with china and with their now Movement Today russia militarily, with exercises and creating a real alliance. And our pros ten ten pecks goin prospects going forward. I try to keep track with chinese side of things what they say about President Trump and strategy, from the beginning they have been very surprised about how tough President Trump circumstance they havis. They have been told by previous president s well give you a break, we know you are a fragile flower. There was a niceness toward china, but trump has reversed that. And chinese are praying that a democrat, ideally for them joe biden, will win in 2020. They can be safe from all they already know his price . No, but they dont like these talks, it is a success, the president just to keep the talks going, that is harder than you might think, chinese are accused of billions of dollars of theft and Technology Core everything n against our companies and other country. What seems to be happening now from the chinese side, american side is very secretive, Bob Lighthizer is one of the best secret keepers there is. But the chinese side, they say they are upset more now, they thought that the talks would end up in an agreement that was only what they call guidelines. Not legally binding. That you could sue Chinese Companies in court. Or that you could you have to keep your word to do what you say. That would be very difficult. That does not auger well for anything substantive to happen for some time. The president may well be right that nothing could happen after election of 2020 have been decided. Yes, but trump has already had quite a impact on chinese economic growth, i, agree with president when he said several types now that if Hillary Clinton had won, chinese would have already surpass our economy or during her term. But it is not going to happen on my watch, we see a slowdown in china. If it is lou it is a significant slowdown. It an economy that based on previous metrics, offered by the chinese government, you have to assume it is contraction because they have been lying throughout, about their numbers. Well, i think they blame President Trump for that. They see the companies leaving. The decoupling phenomena. Investment decreasing. There is some chinese who are panicked, they want to make a deal, those are the ones if they can get president xi jinpings ear, they will say lets cut a deal now, but i am afried the hawk i am afraid the hawks in china are banks on joe biden. Lou pridde predator, their ecoc system is built on chumps, chumps who pre previously occupd the white house. And fools who run corporation in this country given away their gasic basic intellectual property. This system, that is allowed its itself to be pillages by the chinese stealing hundreds of billions of technology and military secrets every year. Well see if some other democrats tomorrow night attack joe biden on this joe biden several types said, give my a break, they will never surpass us, they are weak, broke. It is a vaimpl strange view, nol democrats share, that some are testify. Lou which would you consider tough. A real super hawk is sharon brown. Lou brown . Marci is tough. I think that chinese are wrong, i told them that, President Trumps chances of winning are about 99 percent , the chinese are hearing whispers from the democrats just hold on, we takeover the white house, there will be end of this trade friction. Lou if they dont catch on quickly, their ears will be ringing because this president is not going to put up with their nonsense. It will get worse and worse for them. He is right. Companies leaving china, that is serious, their whole economy was built on bringing in foreign visitors. Lou you know then ripping them off. Lou even apple, tim cook had to bite his knuckles say we want to build in United States, why didnt you for last 20 years. A good champ example i thought of president ial leadership and ration. Persuasion. Lou i agree. Thank you so much. Dont forget hong kong. Lou we dont, as weve reported chinese, plarc ila is now movins forces to border with hong kong, they are not there for show. We appreciate it. Thank you dr. Michael pills pil. Thank you. Lou a huge fight break out between reds and pirates after reds pitcher garrett ran off mound changes pirate dugout, and punched a player, on his own. Tension between the two teams has been rising, in april they were involved in a bench clearing skirmish. You have to hand it to the pitcher to take the whole team, then he got a little reinforcement. We would like to hear your thoughts on this share your comments, follow me on twitter loudobbs, follow he on facebook. And instagram. Up next attorneys Victoria Toensing and joe digenova joining us with more on what President Trump calls the end of the russia witchhunt, stay with the russia witchhunt, stay with us, well be right b josh can i please have a moment of your time . Boy 1 yes. Josh ok, i have a question. Boy 2 you can have eight moments. Josh thank you. So what do you get in trouble for . Girl sometimes i get in trouble like play the wrong piece of note for the piano. Boy 2 i play piano. Boy 1 i play piano. Josh you all three play piano . Girl i also play violin. Boy 1 i play violin. Boy 2 me too. Boy 1 gasp josh are you guys making this up . All noooo boy 2 ive played a piano. Boy 1 its a coincidence. Josh is it a coincidence . Boy 1 yes. Girl yeah, my mom plays piano and my dad plays violin. Josh sometimes you have a jam session. Boy 1 my dads mom took away his fiddle. All laugh josh as a father of two, i can tell you parenting isnt easy. But my friends at boys town have Parenting Tips and tricks to help you make the most of every moment with your family. Do yourself a favor. Visit boystown. Org parenting. Visit boystown. Org parenting. [foo been working so hardns] im punching my card eight hours for what . Oh, tell me what i got ive got this feeling that times just holding me down ill hit the ceiling or else ill tear up this town lou a clintonappointed federal judge dismissed a lawsuit. Over hacked Democratic National committee documents. President trump reacted on twitter saying. The judge said that dnccase was entirely divorced from the facts, another complete total vindication and exoneration from russia wikileaks and every other form of hockey perpetrated by dncradical democrats and others. This really big stuff. From a highly respected judge appointed by president clinton. Witchhunt ends. Does it . Wow. Half of House Democrat ignoring fact he was exonerated and vindicated by special Counsel Robert Mueller last night, but there are 116 of 235 House Democrat come out publicly in support of impeachment that is two shy of majority. If you watch debate last night, you would never have known about the final report of special counsel, his disastrous testimony. Critics were quick to point out that network failed to bring up the think is of impeachment. The subject of Prime Minister or Robert Muellers nams imt muellers name. 43 fewer viewer tuned in last night than the opening debate in june. Cnns losing ways, go on. Joining us now night victoria tensing. Joe digenova. Founding partner of the Digenova Toensing law firm. And i want to a, is the president right . Has the witchhunt at long last ended. No way. Not at all. You know what the democrats are doing . Nadler is straddling legal stand so much, i surprised he has any cajones left, were said well impeach not up people, but he had to do that to go to court, he is trying to get grand jury information from bill barr, you cant just say to court, ill have the attorney general break the law. Only issue here could argue is, we need it for impeachment. But he does not top sa want to. Lou joe, is it conceivable that judge would order the breaking of a law. Not in these circumstances, only case in history that relevant is u. S. Versus nixon when Supreme Court ordered president to turnover tapes, not not orders to give testimony. In this situation,. No criminal trial under way. So there no basis for turning over grand jury testimony. A threatened impeachment proceeding is not sufficient to give them anything, if you consider it a judicial proceeding, i dont believe that the courts will, they will not turn it over. Lou yeah, and u. S. Tappe attorw conducting a criminal investigation, not just a review victoria, that sounds like reason for hope, dairy hope . Yes dare, i hope. Yes, please, weve been telling you, that is was going to be a criminal investigation. But what durm. Lou you did not say it would be this long. Have patience, lou. Here is ha he had to do, he had to interview the witnesses people who are cooperating witnesses, and i am sure there are a lot, should be interviewed beforehand, you dont want to throw someone in a grand jury cold turkey and ask question, as a prosecutor, you want whole range of information they have, maybe they Say Something or bring something up and more investigation needs to done before grand jury, unless it something who is subpoenaed and will take the fifth, prosecutor so. Spent time to interview him. Lou is this process, joe, moving quickly, slowly, as it seems . Is there any reason for us watching anwatching listening t, that were actually going to see the securit scoundrel who made p leadership of deput department f justice and fbi will be held accountable. Yes, and guy any traditional standard this is moving with lightning tweed, durham has interviewed i understand dozens of potential witnesses and moved to setting up a grand jury, it will happen. I will say, i thinka that people need to be reasonable in the expectation of potential criminal charges, this is a very difficult area of the law to bring criminal charges where ghfgovernment officials claim ty act in good faith. We may see initial cases that are not brought, but durma durhs focusing on a conspiracy that involved defrauding u. S. Government of faithful service of these agencies, i think he will get too, the point of bringing charges it is not going to happen quickly. And there are going to be some instances where we is not going to have enough evidence to charge even pretty big people initially. But some of these players will be involved in more than one series of criminal investigations, if they get a pass in one instance they may not get it in another, it will be rough, it will be difficult. But, believe me, bill barr is not going to pass up the opportunity to do the right thing. How long did it take mueller to find nothing . 2 1 2 years. Lou well, i would not even i cant imagine making comparison between muellers enterprise expa oenter and thatof john dur. I want to ask you this. Is there any reason for us to expect anti explanation and accounting for why Hillary Clinton could be exonerated by the fbi, even by the special counsel as well, even as were watching evidence disappear and be disappeared, immunity given away like hot cakes to the staff of Hillary Clinton. And meanwhile, three year long investigation to of president of United States, that began as when he was a candidate. Lou, i predict that hillary will be by the way side, the focus will be on what happened regarding fisa other investigation of trump campaign, joe may differ, we rarely differ. I have no idea if they will give any further explanation of what happened to hillary, i dont know how the ig could not do that given the centrality of comeys Decision Making to everything that followed, i think as a result of investigating all this cia, fbi coverup stuff, and effort to frame President Trump, i think they must explain how the hillary exoneration fit in to that broad conspir conspiracy te donald trump, i think there will be an explanation. I think that lou still wants hillary, punished right. That will never happen, they will not go back and try tony to indeed her. Lou we were doing so well, joe digenova thank you so much and Victoria Toensing thank you. Thank you. Lou on wall street stock closed lower following feds decision today, to cut Interest Rates by a quarter . Dow down 3 34 it plunged after chairman of Federal Reserve decided to announce this was a mid cycle adjustment instead of a databased reaction to a economy and market that required a trend lower. S p down 33, nasdaq down 98, volume pou 4. 7 billion shares. At 2 p. M. The market remained steady, did not begin selling for 36 month u minutes until jee powell made the announcement of the adjustment. Then they fell. A reminder to listen to my reports 3 types a day. Up next, more disastrous language from jerome powell. How long will the president put up with this . We take that up and more right after the break. Stay with us. Lou joining us, john lonski, chief economist at moodys, great to see you, powell was doing great, he announced 25 basis point cut, then started talking about a mi mid 6 cycle adjustment instead of a data driven decision. Reminds me of the old saying silence is golden. When powell breaks silence, a lot of goal gets lost. Right. What we have is a failure to communicate. Not too longin ago they were talking about. Lou cool hand luke. 3 rate hikes, 2019, and latest move to cut rates, there should be more down the pipe. Lou the president , right now looks like a genius. He looks like a genius because jerjerome powell made him look , powell made mistake after mistake, today he did the right thing and still screws it up, that is a man with a problem. What what is the fed going to do . You cant the president talks about firing the man. It looks like the graceful thing for him to do would be to resign . Right thing might be for fed to listen to the market. Not only did stocks selloff but we had a drop 10year treasury yield, even shortterm treasury yeleyield moved lower. You know this there is by the way, some in the aghast Business Press think that president should not be they dont understand the basic principles of Free Enterprise market. You have to Pay Attention too as many variables as possible. You have to look listen to prices, look at the labor market and business sales, which by the way that slowed significantly over past year. A year ago they were growing 6 , now growth 2 . That by itself, is strong reason for several low rate cuts. As you say, looking at treasuries alone that is a good guide. You know, and by the way, if i may just whisper this to Federal Reserve, particularly mr. Powell, you know without inflation, you dont have justification for any kind of rate hike, ever. That goes to december, that goes to last october. Scary thing, in you have 1. 5 up plagu inflation with 3. 7 t jobless rate, what will happen too business Pricing Power once we have a recession and the Unemployment Rate climbs higher. Lou and what will it take to get significant wage increases that last, endure . The fed you know, usually such a bunch of liberals, they have duel responsibilities, we have got it. Low inflation, give us a once in lifetime opportunity, you see how low we can take the Unemployment Rate before it is inflationary problem, i have a funny since that unemployment rating brick underate break unde have difficulty with price inflation, pee people need jobs. By the way, 4 Growth Without inflation is doe able, john loss termites, feasting on homes 24 7. Were on the move. Roger. Hey rick, all good . Oh yeah, were good. Were good. Termites never stop trying to get in, we never stop working to keep them out. Terminix. Defenders of home. Lou not to put too fine a point and the unfortunate mistake by the Federal Reserve. President trump blasted jerome powell. He said what the market wanted to hear was this was the beginning of an aggressive ratecutting cycle that would keep pace with china and other countries around the world. As usual, powell let us down. Its getting old, the fed chairman making mistake after mistake. Byron york. Tom coleman, tammy bruce among our guests. Follow me on twitter, like me on Facebook Cheryl it is 5 00 a. M. Here are your top stories at this hour. The gloves came out in the second round of democratic debates with all the candidates taking aim at joe biden. Did he do enough to fight off the charge . Were breaking down who stood out, who spiraled out and who will su survive to see round the in september. Lauren President Trump hitting back at jay powell after the fed chair delivered the first rate cut in a decade with additional rate cuts in limbo. Cheryl so much for netflix and chill. How netflix is putting couch potatoes to the test. Lauren adulting, we all do it at some point but at what age. The