Transcripts For FBC Cavuto Coast To Coast 20240622

Ahead of the. Connell the story has been there for years and the effect of the Federal Reserve easing money policy. You would think on the economy and the Federal Reserve is able to prop up and help our economy here over the last few years, some would argue our economy should have been strong or you wont get the argument that the stock market should have been stronger, no doubt the Federal Reserve has helped stockmarket. Submitted into evidence, the Federal Reserve Balance Sheet compared to the Dow Jones Industrial average and the two charts basically track each other. What does that mean, the Federal Reserve Balance Sheet is the fed pumping money into the economy, what has been known as quantitative easing, buy bonds, keep Interest Rates low, stocks have gone up. The theory here and the evidence and the chart is here to support it that the fed who you think would be there to support the economy and help the economy for years has been helping the stock market so what will happen to the stock market when this policy goes away . Top of the chart the policy is already starting to go away because the Bond Buying Program stopped in october. Since then, flat stock market. That could be one of the bigger stories when the policy does change. Dont make me come overs there neil Connell Mcshane is young and hip and said i got a chart to show you. Connell with all the effort i brought in to this chart . Neil what i you trying to do it . Be a ratings juggernaut . I want to see the Balance Sheet, i see where we are going here. I cant wait to see the ratings tomorrow. There you go. So now i am as a one who gets the rap for being the turnaround here. Holy cow. There we go. You are unbearable. I love charts. Scott martin doesnt think we are going to see the rate hike this year. Your argument has always been find any reason not to pull the trigger. Explain. They will. Dont know how i follow the beautiful chart Connell Mcshane created that janet yellen just might be able to follow Something Like that because your point, guess what happens every fed meeting, janet yellen comes up with new reasons as to why she doesnt want to hike rates at that time the fed funds futures which tends to be very predictive with regards to what happens to rates is totally sunk on september meetings and sort of in the middle on december so i dont think youll see a rate hike this year and next year the president ial Election Year not typically a rate hike, rate cut year either. Neil after that chart you start talking, another very young bright guest about fed funds futures. I think we are on a roll here. What you are talking about in all seriousness is the gauge of Market Sentiment and what they think will happen and pushing that height off. Why are they doing so . Because i think they know they are involved in the stock market as much as any average investor is and realizing if they were to hike rates here with gdp at 2 annualized, job growth decent, not high quality jobs, you have a better chance, keep it young, better chance of seeing snoop dog back in sweden then youd do seeing a fed rate hike any time in the next year and a half because the data doesnt support it. Neil that pop culture references at the end of your comment does little to salvage this opening segment of this show but i appreciate it. I thought it drove it home. Neil it did not. For those curious about this correlation before we move on lets take a look off of that chart, this pretty much says it all as my buddy Connell Mcshane said, as you can see, take a look at that chart, we are overlaying two Key Developments here. One is a blue line, one is yellow. Notice how closely they are mimicking each other. There we go. Incredible. All right. Now we go to windows 10. Attack hat trick, microsoft is pretty standard and i know this sounds weird, microsoft the last couple days getting more positive buzz than apple. It could be very shortlived but we have Popular Science editor, jo lin kent, Charles Payne on microsoft making a difference. What do you think . Charles is making a difference. We wrote microsoft off. It didnt follow the same trajectory. Neil tell you didnt bring a charge. Charles i didnt. You know i love charts which is not to its alltime high. A smart move for some, three years. Microsoft reminding the world they are cloud player. Neil giving this puppy away because they want to find something out later. The idea is to bring people back to the windows experience. They had a bad rollout, pretty much disasters, get people back into windows and get people to buy more of their devices, they are invested in the device proposition here, talked to the Vice President of windows and devices, that is one sector of the country. It was interesting because he thinks this is the way to funnel people back to win over people who love it. Neil remind me of this, microsoft still controls eight of ten computers that are out there today. This is the means by which you update. This is microsoft returning to its roots and trying to regain trust among consumers and joy as you mentioned there were a lot of failed product launches over the past decade, windows vista, horrific, terrible products and this is microsoft in defensive posture. They are trying to catch up to a lot of their biggest competitors, samsung, google, these companies have embraced the mobile and revolution. Neil very few will be able to get this right away. Isnt this annoying because they are really the apple watch . They are claiming to avoid any disaster and can incorporate realtime feedback. Neil what would make a company which are slow to move anyway. This is embracing the last of the two releases, theyre releasing windows 7 stop supporting windows xp yearago. And 8. 1 neil 8. 1 is the when you touch. Hard to keep track of it. And both of those things. And more central themes out of this entire rollout is this is another one of the big pushes, and change the culture of how we look at the company and its products and mobile neil and a little cooler now. Following a huge consolidation within the company. Neil you are more and apple guy . I dont have any loyalty. I use a lot of google and theres less reason to use microsoft word, and Microsoft Windows which were two of the largest range of revenue. In the cloud. The market, your stock goes up, a lot of Companies Make money and a growing part, a cloud player, they got to get there and that is one of the ways they give people a way to get in and the ones who got this, now you can get all these things on the cloud, we are cloud player, that is the most important thing. Neil we are all being sucked up and i dont know. More concerned about cloud security. Neil thank you very much. That rare moment in time where apple is getting so so, microsoft getting nice press, charles says leon cooperman tonight. That is payperview. And no k anchor. That should be fun. The rich should get a little more but not to the degree of the real clinton was . Before he has given away most of his money he will live by example. Kids are ok with it. He pulled himself up by the boot steps from the bronx of the way he lives his life is different from a lot of politicians telling you. We have dynamics there. I will ask about that. Neil look forward to it. Kids you didnt hear, tom brady has been suspended for four games. We got a tom brady story. How could we possibly be different from all the other tom brady stories. I am linking him to lois lerner. How is that . Technology empowers us to achieve more. It pushes us to go further. Special olympics has almost five million athletes in 170 countries. The microsoft cloud allows us to immediately be able to access information, wherever we are. Information for an athletes medical care, or information to track their personal best. With microsoft cloud, we save millions of man hours, and thats time that we can invest in our athletes and changing the world. The decision handed down by the league yesterday is unfathomable to me. The league has no hard evidence of anybody doing anything to tamper with the psi levels of football. I continue to believe, the unequivocally support tom brady. He regrets whatever agreement he made with the nfl awhile back on the deflated ball fiasco. His quarterback has been suspended for four games and has to wait and cool his jets before he can fight the jets. Looking at this deal, what is the deal here. They saved the smoking gun for tom brady, he had destroyed his cellphone and on that cellphone were hundreds, maybe thousands of texts going back to this period when he might have been communicating with people to do just that. Deflate these balls or whatever. He has argued, brady argued every time i get a new phone i destroyed the old phone, smashed it to pieces. If that sounds like a crazy thing to you and i dont know the history of the bradys and whether they do this all the time on every phone but i know a lot of people who do and this tech expert says it is not the question. Without getting into the wisdom of doing this, you say that is not necessary but a lot of people do it, destroy their phone or hope when they get a new one they do that because they are paranoid that even though everything is deleted on the old phone with Everything Else that has been hacked and compromise they dont want to take chances. Do you buy that . For security reasons you should reset the phone, white out what is in the phone before you give it to somebody else. Neil why not just hammer it into a thousand pieces . That could work. E. U. Or given the phone to your child or a friend you might wipe it clean so your contact or emails are Text Messages can be eliminated. Neil are they eliminated when you do that . You take out the some card and destroy that work it has been moved to your new phone. A lot of people come to discover, not everything that you think is a race is a race. What do you think . A guaranteed way to get rid of the information, the difference here, people get confused between Text Messages in the mail, Text Messages are reporter mostly on the device that receives it and not in a central repository the way email is. Bernard 1 way or the other way you are interested in finding out how those texts are you can chase down the people receive the texts. Usually only on the senders device or receivers device, the phone company in between keeps the message during the time that it is trying to send it out but once it is sent out it does not remain for a long time. Neil i dont understand that. I thank you very much. Former Jacksonville Jaguars tight end doesnt buy any of this. Can anyone explain to me why tom brady destroyed his cellphone if he had nothing to do with deflategate . That is brilliant question. So you dont buy it. It is about why would you do this if you did not have anything to do with deflategate or any of it and that is my question. I need answers. This tom brady supporters, these people who want to defend him because i get it, i raise my hand and say i am not releasing my Text Messages either rental the point in time, wait, it may cost me 2 million and my reputation at that point in time i am releasing the Text Messages. Neil what do you think of his argument that he routinely does this . I have heard people say he has never done that before but i have known people, relatives who do this when they get a new phone they take no chances. I come from a paranoid family so enough of that. They say especially in this day attacking and everything compromise we dont want to take chances a smashed into a million bits. The by that . I dont have a problem with him destroying a phone but when you knew that it was part of the investigation, you should have kept that just in case you needed it but i understand if you had something too high it made you want to wait and see if maybe you need to hold on to win or not so it may have been a smart move because there could have been other phones on text message to Bill Belichick about a host of things he might not have wanted people to know. Neil interesting. I think what the team you know this better than i do, lets give it a rest, lets have our verbal protest, our shock and dismay at this but not pursue it because the more we pursue it, take your four game suspension and move on. I look at like this. A lot of people are not necessarily going to like this but the reality is imagine, think about what happened with richie rice, greg hardy. I am not equating those with tom brady but you have to look at it and say you know the nfl did not have a policy in place for any of these so did tom brady most likely do something wrong . Yes. The punishment, the nfl didnt have a policy for it so on that end i have to defend tom brady but at the same time it is not about right or wrong, it is about whether the nfl should have been allowed to suspend him for this long being that this policy had not been applied to players in the past. Neil here is the thing that takeaway i had from this. I didnt know individuals to control their own footballs they had. I always thought in baseball and basketball, that is done by a third party, the nfl, maybe that will change. Individual teams were in control of this stuff. Maybe that is a bad idea. Sort of. Is a good idea because the quarterbacks each one like the ball away they like it. Some like it with more air, some like it with less air, some like it with other things. Theres a film on it. Neil air pressure, at ready, moved to dangerous territory. Maybe that is a solution that everyone should play with the same ball. I am all about level Playing Field in everything but the reason the patriots and tom brady got come down so hard on, it is not just because of deflategate, it was a spygate, as katie things in other places in the league. Neil you sound like a patriots player. No, no, i regard tom brady as one of the greatest quarterback who ever lived. I played against him numerous times, played out there, put us on the playoffs twice, nothing for me to necessarily hate about him but he is a great player. Where theres smoke theres fire. And over the course of years a lack of institutional control, the snow plow coming out, and the kicker to take it through. In the snow. It is not heat for the patriots, is over the years there is a blatant disregard for the rules and another reason why tom brady came down so hard on. It is because of the other owners. You look at the Atlanta Falcons who have had their front office suspended for crowd willis, the cleveland browns, their front office suspended for texting during at game. The commissioner. Neil around the big are center. The only solace i take in this is the four game suspension, i am not a patriots and and Boston Red Sox in last place, that is a wicked double for real. Thank you very much. I appreciate it. Trying to get you Patriots Fans upset. Meanwhile hillary is not taking any side in the keystone issue. And when to open it, when not to open it, and the stand on other issues, what is so special about this one after this. Neil all right. Weve been telling you today, prior to our broadcast that democratic congressman schalk call fattah landed himself in heap of trouble, facing a 29count indictment that includes raketeering, bribery, trying to illicit favor for Million Dollar payments and the rest. Goes on and on. Suffice it fattah is arguing this is unfair. I have never been involved in any wrongdoing he says. Nancy pelosi is also on the wires right now saying that the charges in the indictment against chaka fattah deeply saddening. He is tireless advocate for americas heartworking families over 20 years of distinguished service. Fattah resigned a key position as Ranking Member of House Appropriations committee as this is all worked out. Big shockers about a play for play charge against a United States congressman and subordinates and associates. When we have more well pass it on a. Everyone is focusing on these days this race, apparently from what i hear there is a president ial election next year. Among those being focused on is Hillary Clinton and with 16, 17, republican president ial candidates to do the picking and picking apart they have seized on the fact that, well, clinton hasnt said much. She ropes off reporters. Doesnt directly answer questions. When a question comes up from anyone she push pushed it back like keystone thing. What would she do about keystone. In this case that would be issue come up later if she were president , not now. Why are you asking me this . I will defer to the president and his folks how they handle this and deal with this if i become president. Paraphrasing you get the point. She talks in limited bites and only when she wants to. Lanny davis knows her better than most. Confidante, close counsel, good friend of both she and bill clinton. You know, lani, you and i talked about this. There is one thing about playing it safe and i see a lot of republican candidates do this as well but is that safely getting them in a heap of trouble when they do so . Do you think she should be more forthright . So, if i accepted all your premises which are not factual or accurate, i would have a didnt answer neil she did not answer on keystone. She tabled it. Shape how she disagrees with the administration on other issues. Not this one. Why cant you say as candidate i do on this. Neil, youre one of the few people on this cable station that doesnt interrupt me when im trying to answer your question much. Neil i want to be clear. I want to start out you didnt say the facts accurately. But here is your answer. She has a position. She stated it and it makes sense. Her position, clearly stated, is i was secretary of state when i set up a process to decide. Secretary kerry is now in the middle of that process, and im not going to intersphere in his decisionmaking because i was secretary of state. That is her position. You may not like it. You may disagree with it. It is not evasive. It is true as secretary of state she set up this process. Now that she is not secretary of state it ill behooves her to secondguess in the middle of process her neil no way you believe that. Then it would have to be consistent for everything, right, lanny . It would have to be consistent not secondguessing this administration how it handled iraq. How it dealt with, you know the gay issue and how it handled a host of others which she has distinguished herself and parted company with that. So where and why do you draw a line on this versus others because she could say i was secretary ever state this happened. She was secretary of state when this happened. You to listen to my words and usually do that, neil. An im surprised. I said, these are the words i said. She set up a decisionmaking process herself as secretary of state. Not one other issue, you just mentioned is comparable. So you missed my words. I will say it again. She set up this process. She leaves office. And now as secretary kerry in the middle of the process that she set up and she is choosing not to interfire. Neil i dont buy it, lanny. I dont buy it. You dont have to buy it. Neil youre giving me legal reason for it. Youre running for president of the United States. This is one of the hotbutton issues that many in your own party are upset b many unions say they want the jobs. Many argued in the Obama White House that thoses jobs and expected number of them is way overstated, fine. But say Something Like that. Youre running for president. Your chance to differ renter eight and distinguish yourself from the white house that you have now longsince left. Leaving that aside. We could argue the semantics of this. Do you think she is being too cautious when it comes to deal with the press. When it comes to talking with the press. When it comes to just directly answering questions on a host of issues . Okay. No, i dont. You and i have reasonable disagreement whether in this particular instance our position and her answer is the correct one. Youre entitle toddies agree with my. Neil right. Im entitle toddies agree with you but no, she hasnt refrained from answering questions. She did answer this question for the right reason. It doesnt compare to any other issue. Neil then why is she losing steam, lanny . If you as a friend and counsel and trusted confidante of clintons are seeing her negatived come up and Bernie Sanders surge in the polls. You remind me polls are fleeting as many have and it is way early, do you think there is a problem with her campaign style. She looks good afar, once in the race, far from good . This is serious problem. A lot of her friends and loyalists are worried. The answer is she he is up 40 Bernie Sanders in real clear politics in iowa. She is up 12 in new hampshire. Neil ignore excuse me. She is beating every republican candidate right now. All right. She is not ignoring. She is addressing every issue including Keystone Pipeline which she addressed very clearly. Neil all right. But we have disagreement on that. Neil yes, indeed we do. Im worried at first for her. Now apparent have no reason. More after this. Stick around. 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Even if youve already been vaccinated with another pneumonia vaccine, prevnar 13® may help provide additional protection. Get this one done. Ask your healthcare professional about prevnar 13® today. Do you care more about this deal or the u. N. s approval or american sovereignty and approval of the American People through their dulyelected representatives, mr. Secretary . Congressman, i dont need any lesson from you who i represented. I represented and fought for our country since i was out of college. And god bless you for your service. Dont give me any lessons about that, okay . Neil that was one of the more heighted and nasty exchanges yesterday. Congressman scott perry with me. Congressman perry, i watched that, not making any sinister charges here. You were just asking about, forget about his service, just whether that applies to this deal and whether he botched it. He answered the way he did and seemed like you were flummoxed by that, were you . I was trying to be respectful. Quite honestly i was thinking saying well, with all due respect, mr. Secretary, i took the same oath and ive been serving my country since high school. Neil why didnt you do that . Trying to say he was only one who served the country. You did, with grit distinction. I just thought that one veered off track . No. Again i think he said a lot, lets face it, he didnt answer the question. We got righteous indignation but we didnt get an answer to the question which speaks volumes. I was reading his quotes which leads people to believe that may lied people to think he was always working in americas best interests. That was a fair question and he never clarified and i think that speak volumes. Neil that is fair question. I know this is politics and i remember the point where he put his hat in his hands and listening to you guys, saying i cant deal with these, and i wonder, if part of that was his view that this is a waste of time . That getting you guys to think that there is an alternative to this deal, what he called the likelihood of a unicorn deal is just not there. That youre being unrealistic and president has gone so far as to say you dont have a single fact to support opposing it. What do you say . I say that you know, hopes that is the case and hoped that he can say, you know unicorn deal as a way of characterizing anybody that wants something other than this as crazy but the fact of the matter is he was in there joking around, laughing, this is the United States congress. Representatives of the American People on an issue that is very important and when his own side, in one of the representatives from california asked him if they would follow the law, he wouldnt answer the question and then was sitting at table joking about it this is not a joking matter this nucleararmed terrorist nation being aided and abetted and facilitated by United States and p5plusone partners. That is a big issue. Neil is a fair issue. While i still have you sir, you heard your pennsylvania colleague, democratic colleague, chaka fattah is brought up on 29county indictment, conspiracy, raketeering, host of charges, embezzling, you name it. Surprise ad lot of folks. Congressman will keep fighting that there is no truth to this. Nancy pelosi is standing by. Were told he will lose a key subcommittee assignment in the meantime. What do you think about all this. Doesnt certainly make the Institution Look good and furthers people distrust in government. Having been said, this is america. Were all innocent until proven guilty. We dont want to see this happen to anyone. Justice must be served. Well have to see what the process leads to. Neil do you think he should leave congress while they wait this out . If he thinks he is innocent, i dont know that is appropriate. If actions to be taken on committee and subcommittee level, administrative actions i think that is appropriate. At the end of the day it is up to the courts an his voters. Neil congressman, thanks for taking time. We appreciate it. Thank you, neil. Neil in case you havent heard, twitter has been having a crazy day and misread reading on it after the bell closing numbers, quarterly numbers yesterday. First stock was moving up in afterhours trading. Then it was tanking. It is tanking pretty much all day. Connell mcshane on that no doubt with a chart. Twitter, a report, neil, we thought it was great and turned out it wasnt so hot after all. Kind of like my report that started off the show today. Twitter hit our sector report is one stock well focus on but the other two are up there on the screen today yelp and facebook. Put facebook aside. You will hear a lot about late irwhen it reports earnings and then again tomorrow. Yelp well get to it in a moment. Twitter, looked good, looked like a strong report, there were a couple problems. Told you i had a chart. Neil triple top. Triple top. Got to be. Since it went november 2013 to present day were livering now, 52week low for twitter stock. Problems here, weak growth in the revenue. Also people on twitter, neil, youre one of them, have twitter accounts dont really use them that month. How active are they, theyre concerned about that kind of thing. That is one. Twitter 31. 67. That is ugly, down 13 . You dont need a chart to tell you that. Yelp, the place where you can review restaurants and businesses online as most of you know already. Here is the issue with yelp. It has start toed as this, ha, chart, not very good intraday chart of yelp shows you decline and decline big time. The problem for yelp, neil, people see it now, may not be a problem long term as takeover target. The stock coming down maybe a buyer is look at yelp, reports are telling us. That is something to look out for in the future. Facebook to tonight on broadcast. I have very instructive chart as we move later this afternoon as Federal Reserve moves to Interest Rates. Simply what youre looking at here here, Federal Reserve Balance Sheet. Were comparing it to the Dow Jones Industrial average. Isnt this amazing when you look at top of the chart . Neil yes, indeed. Since the fed stopped as you call it, qe. Neil yeah. Dow has really been flat. Boy, cant look at it enough. Neil when that blue and yellow line cross, i say okay, thats it. Thats it. Exactly right. More to come. Neil thank you, my friend. Connell mcshane. When we come back, china is not only trying to take over charts it is trying to take over the entire internet. You might say isnt that a little strong . What if i told you, america, not strong enough. Ill explain. [ male announcer ] some come here to build something smarter. Some come here to build something stronger. Others come to build something faster. Something safer. Something greener. Something the whole world can share. People come to boeing to do many different things. But its always about the very thing we do best. Neil all right. You know a lot of people talk about china and how it can easily hack us and awe, but the fact of the matter, far more worrisome to folks that follow this stuff and how china is getting more and more control of internet and billions of users for its country, finding ways to hop on internet without using american concerns like ebay or yahoo . It is something that our own Dagen Mcdowell is looking at as well as fcc commissioner jait pai. Interesting theyre saying we dont need you, america, your version. Internet or your means to get on internet and we can do it on our own and theyre succeeding. What do you think of that . It is an unfortunate development because past few dick decades we come to know the internet a Global Platform without international borders. The more it is vulcanized on nation by nation basis and governments exert control over it the less we see values of Free Expression and free speech cherished. That is too bad for consumers around the world. Neil what do you make of that . He is absolutely right. China already blocks content. I didnt know this, that the wall street journal website has been fully blocked since last year. That is not enough because the internet is so vast and so much content, but what china is trying to do as he was saying china is essentially trying to create Border Control agents where it polices the internet and takes part of the internate away and keeps it within its borders. There have been a number of rules passed and laws passed just recently to that ind. In july, a new security law saying the nations sovereignty extends into cyberspace. A draft law tightening control over domestic internet. The government is also pushing Chinese Companies to find local Replacement Technology for equipment bought abroad. China can do this now because its own Internet Companies have become so much more powerful. For example, the alibaba is one. 10cent is another. Now it basically wants to have control over the entire digital world. Neil commissioner, one thing i cant figure out, people yearning to be free like free choices. Do they know, the billion plus in china know in this case that they cant get yahoo largely, that they cant get on ebay . That these other choices like alibaba instead of ebay or some of these others are the choice de jure . Do they know theyre being screened . Do they know that theyre being nan at thisstated . I suspect a great many of them do. 730 million users presumably looking for have it roof content. Basically based on conversation i had with Chinese Student in washington, d. C. Where i am, they suggested they were not using social media platform as wait bow as much because they know they were controlling it. They like to take advantage of places like facebook. For young people there is thirst of information and when that thirst is not satisfied, they know why. What china is doing is awfully rich. Basically accused of accessing employee records at office of personnel management, Foreign Government officials in china have been trying to get rater role in the internet government earning body that the u. S. Commerce department runs, that Internet Corporation for assigned names that assigns website addresses. Theyre pushing, pushing for more control, even in terms of what we operate here in the states . Incredible. Neil incredible. Pushing for control, mayor bill de blasio has apparently extended his territory to puerto rico because right now he is demanding, urging, ordering, the federal government to rescue puerto rico. 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Switch to Liberty Mutual insurance and you could save up to 509. Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. Neil all right, i always try to urge my buddy Charlie Gasparino to be kind letter and gentler to new yorks august mayor bill de blasio. He never takes the bait. Heres why. De blasio keeps giving him more fodder for debate. The latest on the move to try to bailout puerto rico. It is billions in the red and Hillary Clinton has led this effort to say, yeah, you should treat them like a state. Allow them to file for bankruptcy like states, municipalities do. Slippery slope. But de blasio has ott done her. Bail them out. It is commie way dothings why i call him comrade bill de blasio. Most, probably more socialist maybe than Bernie Sanders. Neil you dont call him mayor big bird. Bo detill calls him mayor big bird. I call him comrade. Bernie sanders isnt giving aid and comfort to the sand niece at thats and or have his honeymoon in cuba. That is bill blass place. Neil they can honey mean where you want. Only now you can. Neil back then was illegal. Even if he went through canada . I dont know if it was illegal but it was immoral. Helping sand niece at thats immoral. Neil where did you and your wife honeymoon go . We went so sicily which is not immoral. Neil you got me on that one. What is he up to . We should point out if there is any bailout talk in washington and mostly among democrats, puerto rico it is not the kind that bill de blasio is talking about just give them money. Neil right, right. It is about possibly extending chapter nine protection. Neil like states have. Like cities have. States, here is the irony here, states dont have chapter 9, okay . They dont. States can not declare bankruptcy. Cities and counties can. Neil chapter 9 deal . Orange county, chapter 9. So puerto rico would be given under, you know neil something more than hillary wants to do something more than most states can be given. From the republican side. Republicans happen to agree with this. Ive been calling in washington, there is almost no talk about extending chapter 9 to puerto rico right now. No talk. This would have to come out im told not by the House Financial Services committee, so not jeb hensarling. This would have to come out of judiciary. Neil or just Democratic Political mr. Goodlatte. What is his name . Neil i know what youre saying. Would you get a lot of fanfare for that you know . I just cant imagine neil den kratz. I cant republicans want to give chapter 9. Takes two to tango. Neil mr. Goodlatte from the fine state of virginia. When we come back, rick perry is planning something in the big apple to counter Hillary Clinton and her Capital Gains speech. He is one upping her the other way. After this. Hi my name is tom. Im raph. My name is anne. Im one of the real live attorneys you can talk to through legalzoom. Dont let unanswered legal questions hold you up, because were here, were here, and weve got your back. Legalzoom. Legal help is here. Usaa makes me feel like im a car buying expert in no time at all. There was no stress. It was in and out. If i buy a car through usaa, i know im getting a fair price. We realized, okay, this not only could be convenient, we could save a lot of money. I was like, wow, if i could save this much, then i could actually maybe upgrade a little bit. And it was just easy. Usaa, they just really make sure that youre well taken care of. Usaa car buying service. Powered by truecar. Online and on the usaa app. Neil hard to believe we are an hour away from the big fed announcement that could finetune when the imminent Interest Rate hike is going to come. You can cut the tension with a knife. Those flashing numbers are flashing as we speak, the expectation is the Federal Reserve, a quarter point hike as soon as september. They dont want you to feel they are big about this. That is the expectation they are going to come closing to confirming what everyone else has been thinking that rate hike is coming, first in a decade. And what investors are expecting. A lot of adverbs gradually, modestly, waiting for the fed talk, but we want to know when the rate hike will lift off. The Dow Jones Industrial average, 95 points, nine of ten sectors today, telecom industrials, energy, look at the energy names, Energy Stocks have been beaten down, half of the names in the s p energy related, 52 week lows, and an inventory report, and oil Energy Stocks, and user growth we saw were the worst ever, First Quarter ever so they are at twitter trying to get more users and more for the audiences, yelp also both of these hitting 52 week lows, revenue missed their, facebook after the bell. Is going to be all about the fed and Goldman Sachs in december camp for a rate hike. And a modest upgrade of the economy. Neil i was kicking your show at 5 00 in the morning weather was this morning and the other day, and september or december expect a rate hike but there does seem to be established whether it is won and then and the fed sets on it a while or does what the fed has in the past when rates start rising every six weeks, every meeting is another quarter point or more. Wheres the consensus on that, won and done. More gradual rate hike. And Portfolio Managers have to put more. Back in the chamber. And the gradual and continue with it up a quarter and it would be accorded point and we wait another year for a quarter point. That would be a long time to wait. And we will see if they do it. And the imf is pressuring the too saying put it off and getting some pressure. Neil scott martin on earlier doesnt think will happen at all. What if they wow hostages and to date . Neil i dont want to tell you that Connell Mcshane has chards thank you very much. Soviet side of the fed, that expectation, ralph peters if you have it, expectation for a quarter point height, you can cut the tension with a knife outside the Federal Reserve. Throngs are gathered, and a sense how much pressure is building, it is the Fourth Quarter point. Anything more or less. That says it all, simplicity. Let me Say Something. And you dont like john boehner, a lot of conservative republicans and not, he abandoned the tea party, is easy to get rid of him . If you want to get rid of the speaker takes not only a majority of republicans to do that but between sessions to take a majority of the entire house, democrats and republicans, it happens sometimes, republican congressman meadows when he recommended the speaker should go . How much backing did he have from that . It is not in congress yet, she is equally frustrated and shares the frustration on the part of the right with a speaker who she has said and i extend the congressman said isnt delivering the goods. What do you make of this move . This is what you can know of the gop in the politics happening in d. C. Having the fact that i am state senators wife, former state senators wifi can tell you that you dont take a move like this lightly. What men as it is extremely courageous. He will be punished for it. This is how you know how bad things are. Neil he didnt go along with a vote, they gave it back to him because this travesty to life for all of america, back to you. I remember too is that not only must it be so bad that meadows felt he was in such a bad position already that he might as well go ahead and start this. Neil we have an august recess and wrist and burn and all that but do you think the sentiment is there to kick him out or is this all about making a statement . A lot of republicans fear we look divisive, we got this guy trump in the race, and we are fighting with each other and this doesnt help matters, what do you say . I think the gop was in cardiac arrests and from that his candidacy, what is happening for people like meadows and ted cruz and others and Mike Huckabee and others, has resuscitated what was the essentially a dead body of the gops so i completely disagree with that. I am glad there speaking on and hope they keep fighting because they were elected to do this and if the republicans dont make some sort of progress, some leverage to oppose something legitimately that obama is doing, i dont see how they win in 2016 so i think it is brilliant. Neil may be a subliminal message yarn in front of the Pacific Ocean which indicates to me you think the tide could be turning. I do. Absolutely the tide could be turning. Neil basic cable, thank you, really appreciate it. We are talking donald trump and how much of of the blue he is raising. The fact is because donald trump has a lot of money you can argue over how much money but lets say enough to buy 1,000 people sandwiches in iowa. Need i say more . Leaving that aside, all these cant compete with that and that does give donald trump for the time being a bit of an edge. What do you make of this . Lets face it, right now it looks like trump is the political messiah and his myopic views are resonating with all the voters look at the polls. You sound like a heater. He did your nominee. I am not a. I have got to tell you something neil you use big words to define him, my optic which means crazy. What i am trying to say is it is good he is a self funded because he doesnt have to answer to anything and anyone but the only thing it is bad for is the Republican Party because he is making outlandish comments that do not represent the Republican Party as a whole but really are people are enjoying his style of politics. On his show he says you are fired and people like that and they are hoping he can do that when he gets the nomination. Neil you are a brilliant political reed, one of the top in the business but here is what i think smart guys like you are missing, you are mistaking the messenger for the message. His message resonates, a lot of people dont like his personal style, the arrogance, the brass, but they do like the fact that he is saying things that are on their mind about how china is running loops around us, the mexicans have been lying to us and they liked that message and they think business as usual isnt working. The opposite. I agree with you. I am agreeing with you. He is resonating and i think they like his Team Personality and the ones that carried over. Neil i hear a lot of smart people say he is a flash in the pan, he will be herman cain, i dont think so. No. I talked to isnt donors in back rooms about a lot of things and we are talking about the outlay and where they are going and i got to tell you one of the key things i am saying and one of the key things i am hearing them saying supporting George Bush Jeb bush, walker, ted cruz, they are saying we have to keep him in the primary. Is crucial we keep donald trump in the republican primary whatever we do. The last thing we want to do is have that guy basically go you know what . Forget this, and then go as an independent. That would be a nightmare because people are really liking in his noholdsbarred attitude and is resonating and he is not a politician and that is refreshing and the fact that he doesnt have to bow down to the donors and the pc on anything is one of the best things people are seeing and as a fundraiser i think it is refreshing to see this. Neil always aid pleasure, you are a great read of things and so is this next fellow. Talk about shy and unassuming, very successful businessman. What i like about carl not only does he speak his mind but he never forgot his roots, in the buffalo area, keeps it for writing and theres a lot to be said regardless of political views. I know you like donald trump and you like the fact that not only embraces his wealth but says what is on his mind but you know what your colleagues in the Republican Party are saying, he is going to wreck it. What you saying . He is going to wreck it for them. It is time for change, is the blood becoming more and more irrelevant and the American People are speaking because donald trump is a poster child for the american dream. Neil will get the nomination . Do you think he gets the nomination . I think people are going to speak and they wont be suffered again by the big money boys. Neil do you think he can get the nomination . Do you think donald trump can get the nomination after all the set about the other republicans . Absolutely. Neil they argue he gets the nomination the party is going down in defeat. What do you say . It is about time and i think the American People icy in something in trump they havent seen for years and years. They want leadership, they want neil i want to be clear. You think he can get the nomination and using he can win the presidency. They say he gets the nomination, no way he can win the presidency. Why do you see it differently . Absolutely. I think theres a lot of democrats and independents out there who want good government, they are sick and tired of what they are seeing, theyre seeing appeasement, theyre seeing lies, an administration that is unfocused and incapable, administration making bad judgments, bad calls, that call in been gauzy, stand down, mexico, lets talk about these issues and lay out all the facts and be transparent, he is a tough guy and fat is the kind of leader that will lead this country to Better Things and that message is going to get across. Neil always good seeing you, thank you very much. Quickly we are learning rick perry is planning a big shindig in new york today talking about his economic plan. He is going to target this Financial Rescue going on, this argument that banks are too big to fail and we have taken at out of that equations so no bank is too good to fail, lets say rick perry disagrees with that, he will be stating his mind along with luminaries in the conservative movement in new york city. The yale club. A lot of grade coupon on the table and lament everything that is wrong with america, stick around. Get excited for the 1989 world tour with exclusive behind the scenes footage, all of taylor swifts music videos, interviews, and more. Xfinity is the destination for all things taylor swift. Neil we are losing our shirts in 120 characters or less. Look at twitter falling better than 13 , and earnings reports that looked good until people started hearing the Conference Call saying maybe it isnt that good so you got twitter in trouble, yelped in trouble and a lot of people saying maybe tech is in trouble. Ryan take on that and whether we are witnessing something, these are two individual cases by and large you are the expert here but that is the big generality. I dont think it is fair. What the you think . I dont think take in general is in trouble. I think tech is the future of our country and a lot of ways and when you look at everyone going about doing business these days you got to have a good tech position so i dont think tech is the problem. When you like organizations or Companies Like Twitter Twitter is in trouble because they are losing their Growth Strategy. They have a leadership nest at the top, their current ceo doesnt know if you wants to be there or not, they are getting larger and growing yet never turned a profit. How many times do you and i sit here and talk about unrealistic valuations of companies that have never turned a profit yet they are getting hundreds of millions in funding. Bernard 1 isnt that the case with facebook . I know they are very different entities but there were a lot of doubters with facebook again, i am not trying a tie but i do think we get ahead of ourselves. Absolutely i think so but when you look at the growth of the user base, that is not something facebook got in trouble with, if you look at what is happening with twitter is a plateaued they dont have a new Growth Strategy or way of making money or have of the invested in their corporate integration, they are still making money the same way they did when they first launch their ipo. In your users plateau when you have that growth and you never learned to turn a profit that is a downward trend and spiral to the bottom a new end up with a price south of 20. Especially the valuation is staying high right now because they want an acquisition, a strategic merger. Neil i think you are right on that. I want to take you to who is it right now . Governor rick perry in new york, filling out his own market plan, near opposite of what Hillary Clinton was doing a few days ago talking about raising Capital Gains tax in stages, he is talking about addressing doddfrank, the big financial quote we are told, possibly we will never see. And other financial meltdown that would have the banks rescued, the banks are simply plenty big enough to fail but you cant be protected by the government until everything hits the fan. That isnt happening, dont worry about it but start worrying about it, we are listening in to those remarks. The governor will joy in Maria Bartiroma tomorrow to talk about that and what is at stake and what he is saying to this upper crust crowd. To iran and what we are going to do about that, it comes back to iran and trusting iran. That is the fact and theres a lot of argument back and forth about the president saying the facts are my opponents dont have the facts to state opposing this deal, but your view is having worked and studied end monitored over these many years you heard them why, you have seen some play some fast games. Absolutely right. We expose all the Major Nuclear got the National Atomic Energy Agency triggering inspections of those sites in iraq, all four pathways john kerry said they want to block leading to the bomb were exposed by iranian opposition. Neil when you hear them saying things like no americans can be part of any of these inspection teams, that didnt shock me but that means whoever is going to come is going to come having to phone first, cant just not on the door and entered but that doesnt afford the time to hide or move stuff . That is a key point, the most important factor in inspections is the surprise element, you want to show up somewhere. Neil we have to give them notice. 24 days of delay, iran can manage. 24 days . Much more than you actually need to hide things, remove things, tamper evidence. In the past everytime access was delayed in iran they cheated. So you know you have a history of cheating and it is simple for the Iranian Regime to hide the evidence. They can remove the tiles from the floor and put new paintings on the walls and they wouldnt find any traces so that happened in 2003. They knew the site was used for enrichment, they change the whole thing, they couldnt find any evidence whatsoever so that is why you need that element definitely but one big flaw is this regime is extremely vulnerable and weak internally and that needs to be understood by the administration and that has brought the regime to the table, they were afraid of the consequences of the sanctions because there is the majority youth population in iran, that needs to be exploited. Neil good having you. I want to remind you bear repeating these are basic facts and i dont care if you are left or right or if you support this deal more not but the fact that no americans can be part of those inspections, we have 24 days to give them notice we are coming to check the nuclear stockpiles, think of what you can do in 24 days. When i was a kid and if i got a call from my parents saying we are leaving for our trip on a little early and i was having a party at my house, not that i had friends or parties but if i did i knew i had a bill time. The iranians have lots of time. More after this. [ male announcer ] some come here to build something smarter. Some come here to build something stronger. Others come to build something faster. Something safer. Something greener. Something the whole world can share. People come to boeing to do many different things. But its always about the very thing we do best. Neil how many times has this happened, you find out months after the fact someone else got out, United Airlines the latest, cybersecurity expert knows who did it and theres a pattern to it. Look at it this way. It completes the trifecta. It started with the chinese, they started and it fits the demographic. Neil why would this be the chinese . They go after our infrastructure and they are competing with us in a war. Russians predominately focus on the affluent and more high end banking coin. When you look at the actors their Business Model is clear, russians focus on 10 or 15 million people, they have 20 million in the chinese focus on Middle America and the yen state actors with the chinese focus on neil what are they trying to do . Collecting intelligence but doing it brilliantly. They brad and from medical information, and all of our Law Enforcement and government and military officials personal information and what do they do . They go to united because everyone knows government officials, military and Government Contractors fly united. Neil what are they doing . It is not up they said that but we should not figure it is them. Which at any rate was at a doing . Cross referencing, building Intelligence Networks so they know where we are, where we are going, who we are going with and what we are doing when we get there. Neil where are they going . If they get the goods on us, medical stuff, are they trying to shut us down . No question. Neil what are we doing to prevent them from shutting us down . I havent seen anything. I heard a lot of rhetoric. Last time we spoke we saw that United Airlines plane got grounded and we talked about that. Neil all the pilots ipads went out. That is scary. Coincidence is one thing, that is not coincidence rucks now weiner united was attacked several months ago so these guys were in their back in may. Neil why does it always happens this week each week find out months after the fact . Theyre doing damage control before they admit anything. The other interesting point about united, they are trying to decide whether or not their customers, their information is compromised because of medicine for me and. Neil customers would be ok with that if the alternative is the plane itself theyre flying on being compromised. We are not sure how much information they got. Neil the meeting under these circumstances. You are a great guests. He was a hit of the curve on this. Is donald trump ahead of the term because washington d. C. Is not . What is behind his surge after this. People with type 2 diabetes come from all walks of life. If you have high blood sugar, ask your doctor about farxiga. Its a different kind of medicine that works by removing some sugar from your body. Along with diet and exercise, farxiga helps lower blood sugar in adults with type 2 diabetes. With one pill a day, farxiga helps lower your a1c. And, although its not a weightloss or bloodpressure drug, farxiga may help you lose weight and may even lower Blood Pressure when used with certain diabetes medicines. Do not take if allergic to farxiga or its ingredients. Symptoms of a serious allergic reaction include rash, swelling, or difficulty breathing or swallowing. If you have any of these symptoms, stop taking farxiga and seek medical help right away. Do not take farxiga if you have severe kidney problems, are on dialysis, or have bladder cancer. Tell your doctor right away if you have blood or red color in your urine or pain while you urinate. Farxiga can cause serious side effects, including dehydration, genital yeast infections in women and men, low blood sugar, kidney problems, and increased bad cholesterol. Common side effects include urinary tract infections, changes in urination, and runny nose. Do the walk of life yeah, you do the walk of life need to lower your blood sugar . Ask your doctor about farxiga. And visit our website to learn how you may be able to get every month free. Neil shortterm but big bucks, highway spending bill doesnt last forever, has a lot of other things in it. It is remarkable they cant do anything longer term or fine ways to agree on anything. Where do we stand with this thing . Thanks for having me. What lawmakers in congress did is what they always do, they punted for a couple months and they will have a longer debate in the fall where they have to deal with the debt limit and around the president ial politicking that will pick up so they punted and it is a shortterm deal. Neil it wont have a gas tax hike which democrats wanted but how are they getting the money to keep the Highway Trust Fund going, keep it semis solvents for a few months, what are they doing . Great question. One of the most controversial aspects in the senate plan proposed by Senate Majority leader mitchell, was to cut the fed dividends rate and the Banking Industry was up in arms over it this and they said absolutely not and to pay for that, emerged as one of the controversial aspect of this proposal and essential the they are going to keep the funding levels at the current rate for the next couple months and continue into the future and also wraps into this debate the Exportimport Bank which the tea party says is corporate welfare and more business friendly republicans and democrats argue sustained jobs, the Business Community wanted that lumped into a longterm transportation deal, they said no so the bank is still dead and again we are heading into a fall area will be political theater to say the least. Neil always good seeing you. We want to switch in new york city, rick perry giving his own financial address on how he would fix a lot of the Big Questions that surround our financial industry five years after doddfrank. He is taking a populist tone, he is saying Financial System has failed, wall street should not be let off the hook for bad behavior, banks made mistakes about riskmanagement leading to the crisis, goes on to say paraphrasing, to address that, the former president ial candidate tim pawlenty and governor in his own right with financial services, what do you make of what he is saying . That this is something republicans and democrats can agree on . The difference is the approach they take, banks have overdone it and given fodder to their critics because they deserve it . What do you think . If you look at what led to the crisis the banks and other Financial Institutions play a role in the and the cratering the American Economy so there are a lot of Lessons Learned and consequences that should come from that. Doddfrank was the effort to fix that. Hasnt been tested directionally. There needed to be more question, more caution, more oversight, more capital but the question arises did get the job done . Neil governor perry is saying, i am quoting from his remarks, some finance intentionally misled investors and customers, pushed people into deceptive Financial Products saying this is wrong but instead of them being punished it was average americans who paid a tremendous price. To be quite frank, he says, and they were screwed. What do you make of that . Sounds like Hillary Clinton. Lets look at the role of congress in advocating policies related to housing and more Affordable Housing on both sides of the aisle that pushed fannie and freddie to do things that were irresponsible and reckless the drifted down to banks and Mortgage Originators and lots of other people. Neil were how they were conveniently left out of this whole thing. Complete reckless train wreck. The American People suffered greatly. The economy suffered greatly and someone had to clean up the mess. Congress tried to do it probably imperfectly, it needs to be improved but they got a start on it with doddfrank. Neil the governments heart is always on the right place. That sound like a very naive view but it starts out the right way, the idea of extending Home Ownership to millions more americans so they can get home and a stake in the american dream, morph into if you have a pulse you got a mortgage and that is dangerous. Rick perry is saying in retrospect the bailouts of banks were bad and we are setting ourselves up, more bailouts because he doesnt think bank said too big to fail anymore and we will revisit this again. No bank or any other business should be too big to fail, no executive should be too big to jail. Everyone can agree on that and no one wanted to bailout the banks. The question was if you didnt bailout would you push across or extend some much Collateral Damage to every day americans figure had to factor is adding to the equation . That is what policymakers did but lets agree no more too big to fail, no more subsidies, no more too big to jay leno if you dont think doddfrank d what is your proposal . The bankruptcy process may not work, people might fly bankrupt airline for a year but will they have money in a bankrupt bank as bankruptcy proceedings unfold . Is it is more, the heavy lifting of how do you do that . How do you accomplish that . Neil thank you very much. Everyone and his uncle seems to call for the irish commissioner to set down. What if i told you he just run out the clock. Both parties do this but this guy from this party, the republican congressman says this time it has to stop. Fox business brief time. A charge of the Federal Reserve, i actually have food stocks to talk to you about, one of the Business Segments we do make you hungry around lunch time. Soup in of red bowl. I like the bread bowl. Penn arab read today is one of the stocks. Look at the of rally. You cant afford the stock, 203 is where is, up 16, revenues 7 higher in the quarter, it will hire more people, solid outlook, they will make a few changes to the menus, that is what were watching, Buffalo Wild Wings doing well, the sector in general doing well, chipotle, 738. And sonic, read robyn doing well. How many times . Well. I take prilosec otc each morning for my frequent heartburn. Because it gives me. Zero heartburn prilosec otc. The number 1 doctorrecommended frequent heartburn medicine for 9 straight years. One pill each morning. 24 hours. Zero heartburn. Neil you can cut the tension with a knife. What the Federal Reserve is planning when it makes an announcement what it wants to do about Interest Rates, live to the floor of the Stock Exchange where it is turning into a nightmare tension city. When they get the news is going to get crazy. The scene outside the Federal Reserve, equal pandemonium as we are 70 minutes away. That is what they are expecting but trust me the closer we get to 2 00 p. M. Eastern time you get met three it or four people gathering, not like the Supreme Court decision. A lot of people running. Connell mcshane, Dagen Mcdowell they have it as a given, they will get the rate hike and the closer we get today is a hinge. I think the general expectation they will move now. I heard and ton this morning say one thing, they want to raise rates so they can lower them. They have no. Left. In case the economy gets awful it is not off 0, is awesome but not awful. Heard about the vet all they robert be seen my chart . Neil ralph does have it. You can see the blue and yellow lines. Balance sheet meets once releasing this q e program. That wrapped up, we kid about, up the market. Not so much the economy, the point i was trying to make earlier, hold on, breaking news. Dagen you could have done a better job. Neil we lose the aspect of a little bit because it has been another neil i have a bone to pick, this is bothering me at this point in the show. I really dont care about this Federal Reserve decision in the least. Dagen you are a business reporter. Connell i know. Neil he joel he still does the show with imus but he developed a cynical view of the world and like imus and i expect more. Connell the cynical thing was already there. Dagen a nice way of saying you are lazy. Neil you dont think this is important . You will be leaving in the next hour. Countdown clock connell you set me up. Because who gets the lead in this show . Neil i read the prompter. Connell you act like you are sleeping and dont care and it is my fault because of my charge. You are the one who doesnt care. Neil i didnt go to it. Connell that is your problem. This Federal Reserve decision is anticlimactic, you dont care. Neil if they dont raise at all. If they dont raise at all, to follow up on your chart and i dont think they will raise it at all. Dagen until win . The economy has to get the economy would have to be in the tank for them not to raise Interest Rates. I am a big leaguer they Pay Attention to the president ial race and want to make a move above 4 they get into it. Neil i never buy that stuff. You said it. Dagen money is about to get more expensive. By the end of the year, the issue gets to be lets hope that does it but the history of these things is once you start moving we keep moving. Connell never stop until we get below whatever it was so they will go up and at some point my serious point about today why would they telegraph anything, they have plenty of data points. They like to do it next week so i really do think today is probably probably in that event there is no incentive. Neil money and graphics as a network we are pouring into this. Dagen you did and for any money into that connell graphic, you could have had him and draw that. Neil you think that is easy . Dagen that is can i Say Something about this . And the Stock Exchange. Get it down. Dagen do you know how old, can we look at the Federal Reserve exteriors. I saw pinto drive by. Neil we are going to take a break here. It started sounding good. Getting better at it. Dagen your southern accent is better than your scottish or british. And your german. Neil german is a horrible. Neil the patriots are rule . Dagen Chris Christie is from jersey and as a cowboys fan. Neil working on another chart for the final segment. Cant wait. Neil all right. They subpoenaed documents. They dragged their feet getting documents, right . They call for the irs commissioner to fess up about a lot of weird things going on. He kind of drags his feet. Still other conservatives in the republican better part of valor for you to go. He is not going anywhere. To darrell issa on irs commissioner might be running out the clock even as he is about to be grilled by his senate counterparts. Congressman, what is going on here . I get a feel, koskinen maybe feels, 18 months i can keep this going and then go . Neil, i think youre exactly right. He continues to talk about not enough money and make false statements about recovering and finding all emails. He said before the committee unoath, before the Oversight Committee that in fact they had searched all areas. If not for the inspector general, russell george, we would never have these recovered emails because he went all the way to West Virginia to the center where the backups were. Of course there were many of these emails that the commissioner pretended didnt exist. Neil but he is not going anywhere, is he congressman . No, he is not. He is not going anywhere because the president wants him just where he is, delaying, denying and complaining. Remember the president has now gone from admitting there was targeting of conservatives to pretending it was a bad law passed before he was born in the 1950s, that is at fault. For the, confusion as the president would like to have you believe it was. When in fact lois lerner, with malice, after for thought, deliberately delayed and deterred free speech of vast amount of conservative groups. Neil the think about it, congressman, tom brady suffered more from missing texts than actually he destroyed, than lois lerner has for her stuff. Thats weird. Well, it would be nice if we could give a fourgame suspension to the commissioner. Neil that is not an option i guess. While i have you, sir, your conservative colleague, congressman meadows from fine state of maryland among those, first one right now, but others im told following suit to tell Speaker Boehner to hit the road. What do you make of that . They want him to resign. Well, you know congressman meadows said he want toed have a family dialogue, a family discussion. His filing certainly will give a family discussion. But remember, the speaker in fact reflects the whole congress and particularly the whole republican caucus. Neil it would take the whole congress to vote on his removal, right . Not just republicans if that were the case, right . It would certainly take at least 50 republicans who wanted anybody but the speaker. The fact is, the speaker doesnt always do what i want. He is not as aggressive i would like and others at times but you know, pushing him, having that family dialogue, may be effective but replacing him is rather doubtful. Neil you know, congressman, real quickly on donald trump, you know he is a very rich guy. That gives him a big edge here. He would be among the richest in washington if he made it all the way. Youre also among the richest in washington. Very successful businessman, multimillionaire. Do you think that helps him right now the fact he is money bulletproof . The fact he can do what he wants while others are raising money, that he doesnt have to worry about it . Neil, i discovered years ago, having succeeded in business before you come to government, gives you independence and ability to speak your mind candidly but doesnt change the responsibility to speak effectively. Neil okay. Many people agree with donald trump on the issues. I hope that he will realize that he has to be effective in his speech, not just speak his mind. Neil congressman, thank you very much. Tight for time. Well have more of that fed decision imminent now. Oh, stick around. Can a business have a mind . A subconscious. A knack for predicting the future. Reflexes faster than the speed of thought. Can a business have a spirit . Can a business have a soul . Can a business be. Alive . New york state is reinventing by leading the way on tax cuts. We cut the rates on personal income taxes. We enacted the lowest Corporate Tax rate since 1968. We eliminated the income tax on manufacturers altogether. With startupny, qualified businesses that start, expand or relocate to new york state pay no taxes for 10 years. All to grow our economy and create jobs. See how new york can give your business the opportunity to grow at ny. Gov business neil close to the top of the hour, my buddy trish regan. It is like waiting waiting for n financial circles. Trish, rates will eventually go up. Were about a minute away the Federal Reserve indicating close to exactly when. So we shall see. The tension, boy, i dont know if you saw charts weve been showing here, that oxygen for the markets, all of that fed, you know, that fed gifts to the markets ha been two is propelling this market. Imagine what happens if you take that all away. Oh, boy. Trish yeah. Look, i have been making the case all along that i think we are risking, i like that. Neil that is a gimme. You can use that too, trish. We share an share alike. Trish thank you, neil, thank you for that. Look weve had a fed induced rally, for six plus years weve been at zero. That is remarkable. No other time in history have we had that. The fed would like to get off of it, neil but theyre in a situation where the markets are dependent on it and economy is theoretically dependent on it and theyre not looking to make a move. Our Peters A Barnes is peter barnes is with the statement now. No change in raid guidance, trish. No change in rate guidance. It updates the assessment of the jobs market raising a foundation for raising rates later this year. Lets go to the economic analysis. Quote, information received since the fed met in june indicates Economic Activity has been expanding mo rattily in recent months. Growth in Household Spending has been moderate and the household sector has shown additional improvement business fixed investment and exports stayed soft. Labor market continued to improve with solid job gains. That is the key phrase. Solid job gains and in