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tv   Cavuto Coast to Coast  FOX Business  April 5, 2024 12:00pm-1:00pm EDT

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lauren: i'm going with ashley. i read the question wrong the first time. stuart: i will go with the longest, 2 minutes and 28 seconds. the answer is 4 minutes and 28 seconds if you are in mexico. for everyone in the centerline, you will see it for 3.5 to 4 minutes. back to the earthquake in new york, 4.8 magnitude. aftershocks have just been reported. the epicenter came from central new jersey, one of the largest earthquakes on the east coast in the last century, buildings are being inspected throughout the city, no reports of damage. governor hochul warned new yorkers to stay out of high-rises. how do you do that in new york city? we are out of time. coast to coast starts now. ♪ i feel the earth move under
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my feet ♪ i feel the sky tumbling down ♪ i feel my heart stop ♪ neil: millions of americans felt the earth move under their feet in an unusual place, the northeast, new york/new jersey/pennsylvania area. 4. a powerful earthquake resonating for folks who never experienced that. tremors maybe but something like this does not fall under the category of a tremor. talking about shake, rattle and roll, the theme the corner of wall and broad, getting a sense of the dimensions of this and how the earthquake was felt not only at the united nations but across key parts where you could see the shaking going on. we felt it here and everywhere. we want to bring you up-to-date, all the major new york city airports have been inspecting their runways. apparently they are okay and flights in and out of the area have resumed. they are doing a more painstaking search of real
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service lines in rails along the northeast corridor including the busiest travel rail centers in new york, so far it looks okay and despite the fact that governor hochul says it is safe to stay in your buildings a lot of people in those buildings are saying we might make an early day of it. we are following these development, the fallout of this employment report. so much coming together. everyone is okay. jobs report showing more than okay. let's talk about the earthquake since that is all the buzz in one of the world's most populous areas. let's go to madison alworth in new york. >> reporter: the earthquake hit at 10:20 a.m. in the new jersey area, an area not used to these earthquakes so something that caused quite the stir.
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at fox business we were on the air during that time and you could see the set shaking. this is surprising not just to those in front of the camera but behind the camera walking around the building here. everyone is talking about whether they could feel it. the control rooms could feel that shaking. in midtown manhattan at the un, the children ceo stopped addressing a security council when the ground started to shake. we have video of that as well. when it comes to this earthquake the epicenter was near whitehouse station, central new jersey and occurred around 10:20 eastern time at a depth of 2. 9 miles. it was a shallow earthquake meaning though even though was 4. 7 compared to high earthquakes in other parts of the world it was felt across a large area. people reported feeling tremors from pennsylvania to massachusetts. in new york city we felt it.
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police spokesperson has not repeated seive sport of damages, that something they will investigate. railways will be investigated, buildings will be investigated to make sure there's no damage. this is one of the largest earthquake to hit the northeast in the last century. for new jersey it's the largest to hit since 1884. that's what we are hearing. philly saying there are no major traffic disruptions. there were some ground stops at jfk. jfk is operational, the train that goes into the airport is closed for the time being. governor hochul got on the air and said there were no life-threatening events which is great news but she talked about the earthquake. >> we are taking it seriously and here's why. there's always the possibility
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of aftershocks. these are widescale possibilities. >> if it happens, drop to the ground, hold onto your neck and hold onto something steady. she encouraged everyone in the new york new jersey area to check your home for damage. all important things to keep in mind. people in the building here, i am from new jersey 50 minutes from the center of where the earthquake happened, talk to my mother on the phone, she says the house shook for 30 seconds. she had to call my dad because she was confused as to what was going on. my father was born and bred in new jersey, they are all safe and the big news, seems there have not been any life-threatening injuries as of yet so that is something to celebrate or to be happy about at least. neil: could have been a lot worse. thank you.
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jane minar talking about how this came together. jane:they will continue to monitor the situation. there is a 46% chance of at least magnitude 3 or greater aftershock in the week ahead in the next 7 days. that something to follow closely but the latest numbers, this is the report as it stands, magnitude 4.8, near white house station and 10:23 in the morning. this is the strongest earthquake that has been felt in a century. 139 years, the previous was 1884 for the new york city area. preliminary strongest in 240 years for the state of new jersey so this has a lot of people rattled, the worst of the shaking as we get those reports in the last 2 hours
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seems to have been felt not only near the epicenter but across north jersey. we have seismometer information and you can see the timeline of the early initiation and the blue lines here where this earthquake happened and things are relatively stable as we look right now. following the seismometers closely for those aftershocks. 46% science in the next 7 days of a magnitude 3 or greater. has far as the intensity goes, we have the northwestern corner of new jersey where this occurred in and around 8 miles from bridgewater, the worst of the shaking seems to have been felt on the eastern side of the earthquake itself but the shaking can be felt from pennsylvania to long island, connecticut, and massachusetts. one of the things we are following is the travel impact. there been delays because of
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inspections on jersey transit in and around the path trains and the northeast corridor door. this is the train tracker in real time. we can keep in mind where our trains are as they have deployed their earthquake inspection and checking these tracks carefully through the day, structures in and around the area. that's happening as the day goes on but new information will come through. the report as it stands from the usgs, monitoring closely for those aftershocks but new jersey, i grew appeared, never felt anything like this. it is unsettling. diane: knew it wasn't her tremor. gary, we have dan gill trued. i understand your office felt the quake. everyone ran outside. tell me about what you experienced.
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>> we are in new jersey, 10 miles due west of midtown manhattan and everything in my office started to shake. i knew immediately it was an earthquake because i never felt anything like that, as well as everyone in the office. we all went outside into an open area where we didn't have to worry about any buildings falling on us but it lasted quite a bit of time. it was shocking. jack: i want to confirm it was not an early drink or anything like that. >> absolutely not. the building was shaking pretty substantially. >> these events are unusual in the new york metropolitan area
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not that we haven't had tremors in the past going back to the early 80s but it does disrupt normal activity for a while and i wonder what you make of that. >> fingers crossed. no damage and no injuries at this point and let's hope no aftershocks. dealing with new york city, the concentration of buildings and people, most in the country. let's just hope it doesn't get worse than this. looks like it is past at this juncture which if we get aftershocks hopefully they are small. i live in california and they are scary and when this happened i'm getting texts from my sons in new york city, i think we just had an earthquake. no you didn't, yes we did and all of a sudden let's hope it stays calm and cool at this point.
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neil: i want to switch to the employment report that shook wall street in a good way as we look at the live shot of times square in midtown manhattan. a lot of people expected a strong jobs report but nothing quite like the one we saw. the unemployment rate coming down to 3.8%, strong surges in healthcare, i just wonder given that strong report whether we are less inclined to see federal reserve upgrades as soon as they help. >> i would think so. if you look at this report, just on a large scale here, you would think the job numbers are hot which means the opportunity to lower rates is not there. which is why i don't understand why the market reacted the way it did. it's less likely to see rate
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cuts which is what the market is saying would happen. the treasury has to bump too. that signaled the right message to say that it is less likely we will get a fed rate cut. neil: if you look at 4.1% wage growth, one thing that caught my attention is we've not seen that low and increase since june of 2021. what do you make of that. >> not the same as others. i believe every statistic, and $2.6 trillion added to the debt. a lot of government, a lot of government. when you see construction president biden is handing out money left and right like it is
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skittles. it is adding to our debt. i said to you time and again as long as the job market stays in shape, if we ever lose that there is so much debt in the system and the government. the markets the last two days, i long for alan greenspan, going from building to building instead of 25 speeches for central bankers. three rate cuts, two, one, maybe 0. neil: gone are the days -- i don't want to break away from you. it hit the metropolitan area. see how things work there.
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>> we know how this could impact you. we are ready for the unexpected. this is new york city and we respond and update new yorkers as we get more information. i will now turn it over to the commissioner. >> thank you for being here today. thank you mr. mayor and by colleagues for their response to this. neil: we will monitor this, to update you there has been a 4. 8 earthquake in the new york metropolitan area, mostly at the epicenter in northeast new jersey. a lot of shaking, rattling and rolling going on, no injuries we know of but some buildings were clobbered a little bit. they are inspecting railroad tracks, we are keeping an eye on all the new york city area airports that are open for departing and arriving flights. they've checked their runways and seem to be in good shape. hope it starts that way.
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you are watching fox business. more after that.
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>> self-defense against hamas
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and a range of other threats which we talk about how mass, they are facing a range of other threats and the president made clear to benjamin netanyahu, the elected prime minister for the israeli people, today, american support for the defense of israel is as solid and won't change. neil: that is john kirby with whom i spoke yesterday saying there is no threat to israel, just want to see them open more passageways for gaza aid to get in and that is what benjamin netanyahu is doing and some read into this the sword of damocles over benjamin netanyahu, change the conduct of this war or maybe we will rethink how much money we send you for this war and in general. that was the appearance, he denied that was the case. i want to go to mark meredith and how they are handling this the day after that call. >> quite a few developments. the biden administration is reviewing a new report that israel put together about the
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deadly airstrike earlier this week that killed 7 aid workers and one american. they are reviewing what was put together. they were pleased to see the news putting more aid into gaza, that a major pricing point, you heard from antony blinken as he was leaving brussels. >> it has to prioritize protection of civilians at make that job number one. >> including democrats to bring the war to a end. the airstrikes certainly amplified that. they employed workers killed in the strike, they have major concerns and put out a statement saying the root cause of the unjustified rocket fire is severe lack in gaza.
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israel increase the volume of food and medicine traveling by land and supporting humanitarian aid. the white house says improving aid was a major part of the phone call president biden had with benjamin netanyahu. the president called for a cease-fire. he you will hear from some republicans to say the pressure is being put on the wrong group. >> has no consistency in foreign policy, never holds palestinians accountable for not releasing hostages. not linking any aid packages to that. he is only one sided. >> we will see if the president has anything to say about israel as he heads to baltimore. news from the white house the last few minutes, president biden has spoken with phil murphy given the earthquake from earlier today, the white house has been monitoring with female. we will see if the president talks about it as he heads to baltimore to look at the damage from the bridge collapse. neil: senior advisor to the heritage foundation.
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we thank you for taking the time. and i don't know how much is legitimate or you are fearful your biggest benefactor may not be as generous going forward. is that a legitimate concern? >> i think it is. how do you get from a statement the day after the hamas massacre when the president said we have an unequivocal role of support for israel to where we are today, the president should be saying i call on hamas to cease-fire now, to return the hostages. i call in any palestinians who support them to surrender but he's upping the ante against israel as if they are the bad guys, they go above and beyond the rules with respect to the
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law of armed conflict to target legitimate military targets and bad things happen in war. i'm sorry, we are sad to see civilians get killed, but that is war and he's focusing on the wrong entity. neil: is interesting because others have been relaying more anti-benjamin netanyahu sentiment, chuck schumer saying now is a good time for elections even though joe lieberman told me before his tragic death that that was a mistake, then low and behold, senator chris coons says that he is open to putting conditions on aid to israel. that's very real. >> that's the sword of damocles in the run up here. a friend, an ally, a foreign sovereign country, you should have these types of conversations behind closed doors. express your concerns
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privately. publicly support them and people starting to see this president is doing these things in a public matter for domestic political reasons to shore up support in places like michigan. that's totally inappropriate and we should be supporting israel one hundred% publicly and privately behind the scenes offering to give suggestions how to bring this war to a end. neil: as long as i can remember as long as i'm old enough to remember jimmy carter and the campaign, going way back earlier, dealing with henry kissinger, no aid was on the line but all the way to bill clinton and the like, would never threaten israel and if this is a policy of the united states, we could be hastening a
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war closing a bit too early for his relapse safety whether pressure is on to do that. what do you think? >> this is why my old boss robert gates said president biden has been wrong on every foreign policy matter of the last 40 years. 's actions and words are emboldening iran to have been supporting hamas all around. i'm sure the mullahs are laughing their way to the bank as president biden makes these comments and forcing those who work for him to come out publicly and say these things. neil: the in normative this widens. the moral case for fossil fuels, the reason we want to talk to alex, look at oil prices. a certain contract jumped over $90 a barrel north of 87 right
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now so we are back to levels we've not seen since the early part of last year. the significance of that can't be lost on those what's happening in the middle east, there's more behind this but what do you think? >> there are always different factors affecting oil prices and middle eastern factors. our number one focus should be what are we doing about it and what we are doing is declaring war on oil and natural gas as well as coal and systematically trying to restrict oil investment, oil production, and transport, instead of liberating oil here and crucially encouraging our allies. we should be encouraging canada which is a limitless deposit of oil to export oil to bring to markets including the keystone pipeline so instead of worrying, we should be doing different foreign policy things. and that is more vulnerable.
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>> evs, this administration, as they hedge bets. limiting support for the fossil fuel industry, and we are not doing that. as we wait, a counter attack on israel, they took out the consulate in syria. >> the ev thing is another example how destructive the war on fossil fuels is. we are reducing the supply of reliable electricity by trying to shut down coal plants without viable replacement, by not building natural gas infrastructure, the number one
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source of electricity and radically increasing artificial demand on electricity through forced evs, so what happens if you artificially restrict the supply of electricity and increased demand, you have what we have in california where the governor said no more ice, no more internal combustion engines, all evs in 6 days later don't charge your evs, the war against fossil fuel harms oil and electricity availability. neil: thank you very much, alex epstein, he was arguing his.before was cool to do so. these oil price situations, oil is at the highest level since early last year from october of last year but still last year. brent, crude did hit an intraday record of north of $91 a barrel.
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a contract at west texas intermediate topping $90 but we are keeping an eye on that. and vacuum of fear, that is what happens and what you are seeing with energy prices. additional comments american adams on the fallout in new york, he says new yorkers should go about having a normal day. agencies are working to make sure the city is safe and his estimate, it is. no reports of major impact of injuries throughout local rails, said to be okay, they did feel aftershocks in the city and they felt if you feel and after shot, dropped to the floor, cover your head and. that's encouraging. more after this.
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neil: fast-moving development on this earthquake that hit the new york metropolitan area. air traffic operations have resumed at all 3 new york area airports that were earlier affected by the earthquake. at liberty international in newark, they delayed departures until was cleared up. separately, another one vote could at least shape the financial markets, showing little sign of it right now. we are getting word from
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michelle bowman who says additional rate hike might be necessary if inflation stays high. there was no hint of inflation in the latest report that saab 300,000 jobs added to the economy on top of 270,000 the month before, and the year over year wage gains were the lowest we've seen since 2021. having said that she is looking at the strength of the report as are other fed governors and district presidents who have been saying including meal cashkari we maintain this type of strength while rates and rate cuts are in the offing, they may not happen at all this year. that was from yesterday before this report but michelle bowman's comments are close to this employment report outlook. we are following the impact of all that and what will be big news on monday. he might have heard something about the solar eclipse. it has gotten to be such a
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worry in the buffalo and toronto area that in toronto, they are saying they could have a state of emergency with better than a million people crowding to see this big event. it will be an unusual event that could be oppressing concern for local authorities. they are not exciting problems but a lot of people here. jim bradley, thank you for joining us. it is always good to be cautious. do you have any worries about crowds and how they will deal with this? >> we are using abundance of caution right now. there would be a million people coming to the niagara region. most coming in by personal vehicles but some by train, some may be flying in and some by boat. with her that many people we know the traffic jam potential is there. overload on telecommunications because all the people using cell phones, the telephone
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companies, and others at the same time, there could be isolated fuel shortages. we want to have all our staff available, our equipment available to declare preemptive state of emergency. i call it a state of caution instead. neil: like the way you phrase it. everyone is looking forward to this. i understand that. hotels around the area, someone told me in a 100 mile radius are booked solid. >> they are booked solid. everybody who has a relative in the niagara region has decided to visit those relatives. we encourage people to stay an extra j to avoid those traffic jams. we are a natural tourist area with niagara falls.
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a lot of people coming for the groceries but certainly the eclipse of the sun especially the total eclipse. neil: i don't know what the weather will be like but food in niagara falls is phenomenal. don't get me started on chicken wings but if you're going to stay, just stay for the food, right? >> no question about it. very close people on the borders on both sides of the niagara river, well-known for the good food and it is available, especially food as well that is available only here. we remind people to stay and enjoy that, use the appropriate eyewear to ensure there is no damage to the eyes. lauren: 1 of caution all and we look forward to it. i think it will be a big, fun event for a lot of people with
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good food. pretty confident of that but thank you very much. i know the region very well. thank you. in the meantime, we were telling you what governor michelle bowman has been saying about a possible rate hike in this environment. it has done little to dissuade buyers but she's a voting member of the federal open market committee. these are the folks who decide the course of interest rates. with a report this strong, you hear more people echo this, the possibility of a rate cut, certainly, rate hikes, not everyone is going. stay with us. it's doug... ... of doug and limu. we help people customize and save hundreds on car insurance with liberty mutual. anyway, we got a bit of a situation here. ♪ uh-huh. uh-huh. ♪
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get real deal speed, reliability and power with xfinity. she shoots from here? that's kinda my thing. get the real deal with xfinity internet today, and get fast speeds and a reliable connection to all your devices in the home —even when everyone is online. adam: so far so good in the new york metropolitan area. you are looking at we, new jersey, a 4. 9 magnitude earthquake struck the northeasterly this morning at 10:23 eastern time, 4 miles northeast of white house station, which might have been, might have been the epicenter
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of all this, and the ground shaking, much more than others. this always confuses animals, always get a kick out of dog saying timeout, something is going on. a lot of people see some damage to their homes but not severe. not the metropolitan airports and whether they should shut things down. they did that and then some, flying in and out of these airports and mass transit in the area and all the major rails, they've been inspecting rails to see if they are okay and they are so it should be a normal rush-hour, and should have been a crazy week, not just talking mother nature was storms and rain and wind but in the markets as well. when we are following that, happy to have stephen phillips join us in jersey city, democratic candidate for
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governor of the northern states. how are things looking now? >> reporter: things are back to normal. we never felt anything like that my whole life being here. never felt an earthquake like that before. it was at a coffee shop, everything starts to take. things seem back to normal. neil: we are getting same read in new york, they are inspecting and looking at some buildings but it does not appear the engineering or building was compromised. do you have the same field by you? >> we have a lot of development, new construction, 50 or 60 story type buildings, we did checks on all of those, and in touch with the larger buildings, we evacuated what was happening, municipal buildings and nonstructural
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checks as well, seems like everything is fine. neil: what do you tell your residents? i think safe? good? >> things are back to normal other than the fact it is scary for people who haven't experienced something like that. you live with this, the daily course of life, the potential earthquake but in the new york area it is something we don't feel. it registers 4.8 and you feel everything shaking and scary. imagine what it is like with a little perspective for people who experience 6, seven, eight magnitude earthquake. what is it like? adam: a lot of people say a tremor this was not. it was in between a tremor and something more serious but when
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you feel it for 20 seconds, i certainly felt that, it's a little different. people get nervous about going to high-rise apartment buildings or their own homes. what do you tell them? >> we are doing the best we can to monitor for aftershocks. the governor in trenton, structural issues around any buildings, we are doing everything possible. it does appear life is back to normal other than that 20 seconds this morning. the best we can do is over communicate and make sure people understand we are engaged and getting information out. neil: thank you for the -- the democratic mayor jersey city running for governor of the garden state. we have a lot to show you, the dow is up 400 points. the one fed governor who is a voting member saying that employment report, we might have to consider a hike.
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not saying one is coming but it is out there. a lot of people saying this after the strong jobs report that show no inflation. but it hints of a strong economy which is generally good news until you look at possible rate cuts. might not happen. stay with us. maybe rich is lest reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts. ♪ i have type 2 diabetes, but i manage it well ♪ ♪ jardiance! ♪ ♪ it's a little pill with a big story to tell ♪ ♪ i take once-daily jardiance ♪ ♪ at each day's start! ♪ ♪ as time went on it was easy to see ♪
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>> welcome back to coast-to-coast. i'm greater trouble at the white house. president biden just left to survey the key bridge collapse and damage but next week he is going to madison, wisconsin, and there, the wall street journal reports he's going to announce new student loan debt forgiveness. we don't know what he's going to announcement how it will work but we know ever since the supreme court knocked down president biden's first attempt at student loan debt cancellation the white house has been looking for other
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avenues and they been successful in doing so though they might face court challenges as well. the biden administration has approved one hundred 43 billion in loan forgiveness for 4 million borrowers. at the same time the biden administration is going to unveil more student loan debt relief. we are seeing an interesting trend which is more young workers are going to skilled trades. i asked the acting labor secretary if they were incentivizing the wrong type of education, four year college over trades programs. >> we shouldn't be telling young people your only pat is four your college, if you don't go to four your college you fail. at the same time college is an important experience too. the student debt relief, this is very much a part of the president saying we want to make life more affordable, make opportunity more open and make
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sure everyone regardless of your path gets to share in that. >> reporter: we spoke about today's jobs report. you've been talking what that means for interest rates, whether they will be cut or more hikes could be on the way. the white house says the jobs report means, president biden claims it means his economic plan is working. neil: thank you very much, wonderful job at the white house. let's talk to the executive vice president. you could argue with this additional spending and loan forgiveness, ironically the administration is going to stall the very thing folks are looking forward to. a cut in interest rates or a hike as fed members are saying. >> that's totally right. when you forgive student debt you incentivize people to spend
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money rather than use those funds to pay down their debt. what is happening? driving up inflation, higher inflation votes, the less likely we have a rate cut but as you mentioned earlier, increase down the road here. these policies are undermining the economic plan yet are done for a political purpose because so many are drowning in debt right now. neil: you wonder about the fairness of those who did pay their bills and continue to pay their loans to say nothing of those who opted not to go to for your colleges or pursue majors that would not yield the much in terms of job potential and left out of this. that's a separate more psychological argument. i am wondering about the federal reserve in this environment where a lot of people say people reached a point they can start cutting interest rates. all the government spending which contributed to the fed
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hiking rates might keep that going. i wonder does the administration, does washington since the importance of that? >> biden has claimed he helped to reduce the deficits. i see some political value in going out there and saying he is leading this charge when it comes to deficit reduction. if you look at the numbers the opposite was happening, we have multi trillion dollar deficits as far as the eye can see and that will have a problem, create problems with regard to the economy, it will divert investment that should be going into the private sector to create jobs and economic growth and help working-class americans, we are seeing interest rates skyrocket and interest payments on national debt reached all-time highs exceeding what we are spending on national defense, this is a huge economic problem. i would like to see not just rhetoric but actual action not
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just by the administration but congress which can't seem to do anything due to a lot of dysfunction. neil: doesn't happen. very quickly, we are showing the debt which is a combination of all the deficits that pile up. a deficit one year is lower than the prior year. debt itself is up $6 trillion, no end to that. >> we would love to see more attention paid by members of congress, the president, by everybody. it's all rhetoric, no action and future generations have a larger and larger bill to pay off. neil: always good seeing you. that something to pay attention to. someone has to pay that bill. all right, wall street not worried about that. taylor riggs and the money show guys. taylor: hello, everyone. i am taylor rigg

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