Negative territory for the day. This is the last trading day for the month. All three major averages end in the green for the second month in a row. Fox Team Coverage with Edward Lawrence at the Federal Reserve. Jackie deangelis on the floor of the New York Stock Exchange and blake burman of course at the white house but edward we start with you. Reporter a quarter point percentage what they cut off the federal funds rate. Not everyone in the room believed that should happen. There were two dissenters, boston Federal Reserve president and kansas city Federal Reserve president said they would like to see the fund where they were. Jerome powell said this will not start a lengthy process of fed cuts but it will not be a one and done. He says as we see more accommodative Federal Reserve here moving in that direction, he is almost taking credit there for the economy, economic expansion continuing. What he says were seeing low unemployment, wages rising, consumer spending. So i wanted to know if some believed december rate hike went too far, why did the Federal Reserve wait several months to make a rate cut . If that affected the Business Investment side to it. Listen to his answer. What you hear demand is weak for their products. You see manufacturing being weak all over the world. Business investment is weak. I wouldnt lay all of that at the door of trade talks. I think there is a Global Business cycle happening with manufacturing and investment and thats been, you know, definitely a bigger factor than certainly we expected. Reporter the point he is making is that the influences holding back the u. S. Economy are coming outside of the United States, not inside of the United States. Global slowdown and trade uncertainty. The Federal Reserve saying they will stop unwinding of their Balance Sheet two months early. That leaves the Balance Sheet around 4. 2 trillion or so. One more point. The last time there were two dissents on hawkish side of things was november of 2016. Also democrats are jumping on this. Senator Chuck Schumer putting out a statement saying that the fact Federal Reserve has to cutrate, undercuts the republican argument that tax cuts sparked economy. Basically making a point the Federal Reserve has to step in to keep expansion going, the tax cuts couldnt do it on their own. Back to you. Connell lets go to blake at white house. I will admit i was cheating. I got my phone out. I refreshed it. I do not see any fed related tweets as we look at white house reaction. Reporter keep hitting refresh on that connell. We havent heard from the president. He was meeting with the mongolian leader as jay powell was speaking. That meeting broke up 40 minutes or so ago. It is possible the president needs to be read in on all of this. Ahead of the announcement the president said he would gladly talk about this later. Yesterday as we know he said he wanted a large cut and for fighten stop immediately. It is safe to think that the president will not be fully pleased with the feds latest move. There has been no bigger critic of jay powell than president trump. The president said today this was not a direct result of caving to the president s desires. This action is designed to insure against Downside Risks overglobal trade tensions, offset the negative effect that those factors are already having, promote faster return of inflation at 2 . That is what were doing. That is why were doing. We never take into account political considerations. There is no place in our discussions for that. We dont conduct Monetary Policy in order to prove our independence. Reporter we didnt get much clarity how a trade deal with china might come b the talks in shanghai wrapped up with the next meeting in december, the china will commit to an to an ago buy. There is no tweet from president keep hitting refresh. Kristina you were too busy refreshing. I would thank him. Jackie deangelis at the New York Stock Exchange. Investors were not impressed or didnt hear what they wanted to hear from jay powell . Kristina, that is right. We were up most of the session and turned negative on the rate cut. You would the market got what they wanted. Traders so expected quarterpoint cut it was permanent baked into the cake. What would have gotten the market fighted . Maybe half a point would take us into the green. Then further during the press conference you mentioned Jerome Powell said this was not start of a prolonged rate cut cycle. The market certainly didnt want to hear that. Remember last week the white house said we want 75 basis points. This market closed 330 points lower. What is remarkable in todays session was apples stock. Apple managed to come off the session lows but stayed solid in the green, a little more than 4 of a gain about 2 . That was because of blowout earnings number we saw yesterday. The raising of the Fourth Quarter guidance. Basically the optimism, not only in the iphone segment but also the services segment. So a lot of investors were excited about that stock today. Well have to wait and see how things shake out tomorrow. Markets can be very fickle. Sometimes there there a kneejerk reaction then tomorrow is a new die. Guys . Kristina thank you, jackie. Connell lets go to the panel on all this. Jonathan hoenig joins us, can tallist Pig Hedge Fund and jeff sica, chief Investment Officer with us as well. Guys, welcome to you both. Jonathan, to you first, the messaging, everybody trying to read between the lines, looking at jay powells words. This whole idea of a midcycle adjustment seemed like the market sold off. Jay powell said maybe not just one rate cut. Do you read this as one an done or what is your take . I am is almost impossible to, connell, to analyze the fed. Youre trying to hash out one word or individual syllable against another. I think you have to look at the big picture. Despite the downdraft today, 300 something point it is still a bull market. 222 new 52week highs. Only 110 new 52week lows. Jay powell referenced slow global economy, seeing no inflation on the homeland and the market is not far from the alltime highs. Historically, connell, this tends to bode well for the market. When the fed cuts rates, 2 of alltime highs, it is up 97 one year later. This is a very good time for stocks. Connell good message on a day like this. Jeff, whats your message . I saw it in some sound bites i believe we heard from edward, jay powell may look to cover for the president s trade policies some way. Knowing that thing will drag on with china for a long, long time. I dont know if that is what midcycle adjustment means. If that takes two or three rate cuts to do, or what his real plan is. There seems to be confusion on that. What is your take . This is what i call the curse of high expectations. Expectations were for a rate cut and then it was to Start Talking about the september meeting because the verbiage that powell used was the most crucial. To see if he was going to continue to play ball with the market and continue to lower rates as much as he needs to. I think a lot of people, i think they were happy that we got the rate cut today. But they expected it. I think theyre walking a lot of investors walking away from this feeling confused and thats problematic. Because we are growing into what could be a very, very ugly trade war with china. President trump wanted to have as much ammunition with the low rates as he could have. Now we have to contend with a very confused fed chairman that has to make a decision as to what he is going to do in september. And market has to determine, is this market, investors have to determine, is this market a onetrick pony market . Does it have more substance to move on past this . Kristina jeff you talked about about china, how this potential trade war will continue. What, we heard negative news out of markets, from chinese markets. It is just rolled off. Investors didnt sell off yesterday. They havent been selling off too much. Jonathan, do you think it will be that big of a deal in terms of volatility or already priced in . Well, markets will always be volatile. That is what they do, kristina. Often times we dont expect it, when it comes back to bite us. Whether it be trade or middle east, or the fed that will certainly continue to rattle markets. I dont think it is as much Interest Rate as economy and innovation. Japan had ultralow Interest Rates for 20 years. It has not spurred the economy. Not as if low Interest Rates helped europes economy a little bit. Low Interest Rates are not panacea for growth, that need economic entrepreneurship, capitalism, trade. That is what the economy hinges on. Kristina to that point what do we do . What do investors watching now, how do they protect themselves . Continue in equities or growth, what do you suggest. Investors need to look at the fact that the market has come a long way. The market has become addicted to lower Interest Rates. If you have a lot of gains, probably the right right to take some of those feigns. Im not telling people to be out of the market but i am saying take gains while they exist. Because if china gets to be as ugly as i anticipate it is going to be, well have a much greater selloff than 330 points. 330 points is a drop in the bucket what could happen if the china trade talks break down. Kristina be cautious. Be cautious. Kristina thanks, Jonathan Hoenig and jeff seek characteristics a lot to get to. Former Arkansas Governor Mike Huckabee will join us what we can expect to hear from the pack as former Vice President joe biden and Kamala Harris face off once again. Kristina wages rising at a faster rate. What new data is revealing about paychecks across the nation. Connell taking a joyride. Honda going allin on offroad vehicles. The back roads test drive you do not want to miss. Pretty good stuff coming up later on this hour. Of a fatal cardiovascular event. And thats why theres jardiance the first type 2 diabetes pill that offers a lifesaving cardiovascular benefit for adults who also have known heart disease. It can significantly reduce my risk of dying from a cardiovascular event. And it lowers my a1c, with diet and exercise. Jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. Ketoacidosis is a serious side effect that may be fatal. A rare, but lifethreatening bacterial infection in the skin of the perineum could occur. Stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection, ketoacidosis, or an allergic reaction. Do not take jardiance if you are on dialysis or have severe kidney problems. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. So, now what do you think . While my a1c is important, theres so much more to think about. Ask your doctor about jardiance today. Theres so much more to think about. And this is me now i got liberty mutual. They customized my car insurance, so i only pay for what i need. Then i won the lottery, got hair plugs, and started working out. And so can you only pay for what you need. Liberty. Liberty. Liberty. Liberty. Dto experiencer gthe luxury you desire on a full line of utility vehicles. At the lexus golden opportunity sales event. Lease the 2019 rx 350 for 389 a month, for 36 months, and well make your first months payment. Experience amazing. Kristina another day, another democratic primary debate. Tonights second round in detroit featuring a rematch between former Vice President joe biden and california senator Kamala Harris. Plus other candidates polling in the single digits. Hillary vaughn in detroit with details. Reporter kristina, biden and harris will be at center of attention on center stage tonight in detroit as the two go for round two of their fiery showdown at the first democratic debate in miami. They are not the only ones on stage. All other eight candidates on the sidelines are strategizing how to get into the conversation. Yelling over them, no, thats not the plan. I think, i will look for my opportunity to be able to speak. It was gratifying to me last night to see some people who are on the outer edges have a real opportunity to participate in the debate, i expect to do that as well. Reporter tonights 10 candidates have all been doing debate prep differently. Entrepreneur andrew yang took time yesterday to shoot hoops with his campaign advisor. This time around he is also dressing differently for the debate after going tieless in miami. Were in the fox theater, doing a walkthrough on cnn. Decided to wear a tie just for the walkthrough. [laughter] really beautiful place. It will be a great night tonight. It will be enormous. Reporter biden is switching up strategy from the last debate. He arrived at the fox theater for a walkthrough. Biden is especially prepared to push back against anyone that is telling, quote, flatout lies about his record. He is ready to hold up his Health Care Plan against harriss for anyone to see. Kristina thank you, hillary. Connell we have former governor of arkansas mike huckabee, fox news contributor. Always good to see you. There were moments interesting to watch. You really did see a split in the democratic party. Then there is kind of a fight. I dont know what your perspective which is the way to go for republicans. You saw it. Will see some of it tonight, moderates going after real progressives. What did you make of that . We have to be careful, connell, when you say moderate, on that stage still means liberal but it doesnt mean of the edge. John delaney had a good night last night. He made some great points. One of which, if you say, get rid of 180 Million Peoples private Health Insurance. Connell right. Like telling everybody well give them a new plan, that was a significant moment. Basically Elizabeth Warren and Bernie Sanders, and warren made this point, we shouldnt be afraid of big ideas. I agree. But you ought to be afraid of bad ideas. What they were putting out there was a bad idea. A big idea . But a big bad idea. I think that is what people saw. Connell what gets more momentum. Your point about dell delaney and tim ryan, going after Bernie Sanders on these issues, his response what people are talking about, rather than the points they make. Listen to one exchange. Well talk about on medicare for all. Why do we have to be the party of taking something away from people. No, no one is the that is what theyre running on. Running on telling half the country that your Health Insurance is illegal. Second of all, maybe you did that. Made money off of health care but our job is to run a Nonprofit Health care system. We dont know that bernie. I do know that, i wrote the damn bill. Connell that is the line, i wrote the damn bill. The point delaney is making somebody like a joe biden will try to make tonight, right . You wonder which one cuts through more . I honestly think joe biden has a better shot saying look, we dont need to do something radical. He is going to argue obamacare was the right foundation but it needs some tweaks. That is going to be the more moderate position the democrats could take. A lot of leaders on the democratic field, they want to go more radical. They want to undercut all private Health Insurance. Just get rid of it. Here is what that does. When you destroy a market incentive for there to be ways to better improve coverage, do it less expensively, you stop the competition and government is the only one providing it, it doesnt get better. It gets worse. I dont know why any american cant see that. Connell doesnt it also play into president trumps hands politically . If you go to a state, take michigan, for example, that is where theyre having debate. Yeah. Connell the closest of the close last time around. Most of the people, not all, but most of the people that will decide it, they have insurance already. A few obviously might not, but many of them do, through their employer. If you say i will take that away, that plays into, that is layup in some ways for the president s reelection campaign. He would much rather have that argument than have another one that he would have to to with biden. Isnt that fair. Absolutely. Especially when you say well take what you have away. What will you replace it with . Were not sure. It will be called medicare but we dont know what it is going to cover. We dont know what will define as health care. We know what they got now. They may not love it, but probably like it better than the unknown, he specially if the government is running the unknown. Connell, last night, really did reveal just how far to the left the party has gone. I think Bernie Sanders has a problem. His is a personality issue. I expected any moment for him last night to scream into the microphone, get off my lawn he came across as a curmudgeon, an angry old man who is mad at the world, was ready to fight anybody and everybody in the room. Connell throwing his hands up in the air literally at one point which was humorous moment. Everybody was saying they were doing the wave. Two of them. Well see what tonight brings. Thanks for coming on. Kristina dot wave now. Connell we can do it. Kristina remember the massive Equifax Breach that impacted millions of people . I should not be smiling. 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Five players were ejected from the game. One of the guys involved, yasiel puig was traded but garrett since apologized for his actions. There you have it. A little baseball for you. Kristina going from a physical brawl, potentially verbal one. But trying to get a budget deal passed before the august recess. The senate is expected to vote on spending package, to be approved by the house. The vote might not happen until tomorrow. Chad, why is it being delayed. They dont have it teed up. This might be the last vote before they go on the august recess. That might be 11 00 in the morning eastern time. Republicans are wary of this bill because it doesnt have any spending controls. That is something republican kentucky senator rand paul talked about on the floor this morning. Adoption of this deal marks the death of the Tea Party Movement in america. Fiscal conservatives, those who remain should be in mourning, for congressing both parties has deserted you. There is no money in the bill. There is no actual government spending. What does that mean . They have to fight to fund the government in september and october. Could they have a standoff like this past winter. I asked that to Senate Minority leader Chuck Schumer. Even our republican friends realize the shutdown was so damaging to them and the president they will do everything they can to avoid it. Why has the land shifted this time around . Because the shutdown was such a flop for them last time. Republicans need majority of their majority. There are 53 republicans in the senate. A lot want to vote no because of same concerns expressed by senator paul. I spoke to marco rubio, republican senator from florida, i think the vote is closer than where we want it to be but i dont think there is a sense of panic. Mike crapo, republican senator from idaho. He is undecided right now. Was asked about or not he is getting pressure from the Republican Leadership and white house . Pressure . No. Encouragement. Kristina chad, youre always one with a scoop. Appreciate it. Connell dismissing a potential risk. Dismissing what regulators knew about the boeing max crash and if the second crash could have been prevented. Kristina a bright spot for hardworking americans. Why the 99 could see a surprise boost in their annual income. Connell taking a spin in ultimate summer ride. Hondas newest level bringing a new level of offroad excitement . Who else . The great gary gastelu taking it for a ride. But perhaps this year, a more exhilarating endeavor awaits. Defy the laws of human nature,at the summer of audi sales event. Get exceptional offers now. You wouldnt accept from any one else. Why accept it from your allergy pills . Flonase relieves your worst symptoms including nasal congestion, which most pills dont. Flonase helps block 6 key inflammatory substances. Most pills only block one. Flonase. Termites, were on the move. 24 7. Roger. Hey rick, all good . Oh yeah, were good. Were good. Termites never stop trying to get in, we never stop working to keep them out. Terminix. Defenders of home. Back with breaking news. The United States announced sanctions against the foreign minister of iran zarif. They are taking action because zarif acted on behalf of irans supreme leader. Alleging zarif helped to carry out quote, reckless agenda of the leader khamenei. The u. S. Will evaluate specific circumstances for him to travel on casebycase basis including relativeses, or relative to the united nations. But they will follow up with u. N. Agreements. A somewhat significant move by the United States to sanction the foreign minister of iran. More as we get it. Kristina. Kristina lets go back to america. We have a boost for hardworking americans. The quote, 9 get a bigger raise. This is a new wall street journal oped highlighting new numbers, show much faster growth in wages and income than previously reported ahead of the july jobs report on friday. We have Hadley Heath Manning from the independent womens forum. I want to highlight the discrepancy. 31 growth. Yet the bureau mick analysis says that is much higher. In 2018, growth of 5 just the first month of this year. Were seeing growth over 3 . Why is there a discrepancy . Certainly depends on average Hourly Earnings for the entire economy. Looking for different subsets of the labor market. The bureau analysis that came out is revisions from previous data, not just pertaining to wages and salaries, pertaining to pennal savings. According to revisions it is very good news. Basically everything we think of is a good thing, whether earnings or savings. Most numbers are being revised upward. Things not so good, how much money americans receive in social benefits, dependence on government, that was revised down. This put a positive light on positive numbers were seeing. Kristina hadley, focusing on the, hower skilled, younger workers, which mens that the salaries are not as high. Is this a new trend . You know certainly as we see, you know, millions of people entering a or reentering the workforce because of the job growth. Some are workers who may not have as much experience, theyre younger, just out of high school, college. Entering workforce or reentering. Meantime older workers, many in the baby boomer generation are ready to live off savings, that depends on changes in the dynamics of our labor force. That is not necessarily bad news. Depends which type of worker you are. The average earnings are up, average personal savings are up. Even Business Investment is up, indicates that our economy is in a good place to sustain what were seeing right now, which is a huge economic expansion. Kristina almost what, 10 years now, this is great news. The economy is really strong. You hear a lot of people still complain. They cant afford anything. As cost of living. Were seeing you mentioned all higher wages climbing higher. Is that enough, do you think in your own opinion, based off your experience to to off higher costs across the country . I commend the wall street journal editorial to people so they can see in some of this data, when they adjust for inflation, even, the real earnings, real wage growth is particularly strong. Frequently, education costs or health care costs. Those particular industries we see out of control growth in spending, expenditures, not just publicly but out of peoples pockets. Those are policy areas where i hope lawmakers pay attention, look for ways to contain, and control costs because as we see people earning more money, keep the money they earn rather than spending on things we consider to be necessities, health care, millions of American Families are saving for education costs. Those are two areas, it is serendipitous, but those are two areas where the government has a heavy hand controlling how we spend our dollars. Kristina hope for all. Thank you very much, hadley. Connell we switch gears to a drilling on capitol hill today. Faa officials facing tough questions on the grounded boeing 737 max jets as a bombshell new report suggests that regulators after the first of the two bowing crashes found a highrisk of an another emergency happening. That was from the wall street journal. Fox businesss Grady Trimble is live in the newsroom with the latest. Reporter connell, those faa officials took heat from the senators over the agencys role certifying boeings 737 max men. The agency has been under fire how closely it works with the maker of the plane. The agency was accused of allowing boeing to regulate itself, to certify its own plane. The max was grounded after five months after two deadly crashes. One senator, a pilot himself, it will take a lot for him to get back on one of those planes. I would say for the 737 max to get into the air, every boeing official should fly the plane for one month to make sure we have the confidence for a passenger to get back on that plane. Im not getting on a 737 max, until i see the president and his or her associates on the plane first and flying for a substantial time. Reporter boeing will have to regain a lot of trust. The faa called delegation to the private sector at the subcommittee. He said the way the Agency Certified the max was sound. Lawmakers told them there needs to be more clear divide between regulators and private industry. They question whether the faa did enough after the first max plane crash last year. Agency officials are open to make changes to make flying safer in the u. S. Connell . Connell that is the big thing. If they knew something after the first one, an didnt do enough, boy, a lot more has to be looked into. Gradedy, thanks. Kristina Chain Reaction in americas heartland. U. S. Farmers bracing for a tough year ahead, as the ripple affect from the trade war and flooding cripples the midwest. Now multiple industries are personning an a ripple effect. Well speak to one business owner. You might, might be eligible for 125dollar refund, Online Scammers are pushing fake websites. How to tell the phony from the real and if youre eligible for the cash. Rade . Exactly. Sounds like a case of analysis paralysis. Is there a cure . Td ameritrades trade desk. They can help gut check your strategies and answer all your toughest questions. Sounds perfect. See, your stress level was here and i got you down to here, ive done my job. Call for a strategy gut check with td ameritrade. Connell we have the tweet we were waiting for, fairly predictable from the president on the fed. He says moment the ago, on twitter what the market wanted to hear from jay powell and Federal Reserve, this was the beginning after lengthy aggressive rate cut cycle that would keep pace with china, European Union other countries around the world. The president goes on, as usual powell let us down but at least he is ending quantitative tightening which shouldnt have started in the first place. No inflation. Were winning but im not getting much help from the Federal Reserve. President wanted 50 basis points today, or 75 basis points total. You knew he would be disappointed. I guess he is. Kristina traders reacted. We saw more of a neutral reaction versus accommodative which what youre alluding to. 74 probability of another rate hike. Powell answered to a reporter saying its a matter of principle not to assume that we wont increase rates. Connell right. That reporter was asking him, which is a big question a lot of people have, which is a fair question, will you have any ammunition left . Because it is so low. Connell his point was like, youre assuming we wont hike rates or we wont not hike rates at some point and we might. That was an interesting exchange. Powell got himself into issues with the market once questions started to come from the reporters. People are confused what to expect in the future. But the president is not happy which we didnt think he would be. Kristina go figure. We got the cut. Maybe if it was a little larger, a tad bit happier and more comments in the near future. Balance sheet tightening slowly tapering off. Connell down 300 plus today. Well see what tomorrow brings. That is it from the president s tweet. Kristina there you go. You need to watch out for scammers now. You may be able to file a claim to get 125 as part of a equifax settlement. The fcc is warning that con artists are pushing fake websites that look like the real one. They may run out of money for people that want to get it. We want to bring in david kennedy. I dont want to fact that they may run out of money. I want to talk about the phony scams online, what should i look for when seeking out the 125dollar refund . Equifax built a cite called Equifax Breach settlement. Com. That is not the shortest link of an address you can remember but that is the official cite. Go to ftc. Gov equifax. We analyze ad quite a few scams. They send a email that you qualify for specific rebate, 125dollar rebate for the breach. Theyre having you quick on a link. When you quick the link youre going to a fake cite. Look at address bar, look at the site, that it is ftc. Gov or Equifax Breach settlement. Com. That should be a that you might being phished. Kristina people are getting some parcells of your information. We can assume almost everybody, one piece of information is out there but is the next step putting those profiles together and then trying to replicate an entire person . Is that what we should be aware of, be scared of people putting it together, there is Kristina Partsinevelos on the dark web and all of her information . Thats right. The biggest concern we have is not necessarily lets say a Social Security number. If you can tie a Social Security number to High Net Worth of individual, somebody with popularity, somebody in the media, somebody with a large presence on social media, that is where your value starts to go up for your identity where its being sold on the dark web. For a lot of scammers to make a monetary financial gain some way, shape or form, by selling information on you. Can i compromise your facebook accounts, your financial account, with a substantial amount of mon in in it. Can we go after specific portions of your life. That starts to increase the cost of your identity. That is what these scammers are definitely going after. One we see very common practice for. Being sold all over the time all over the internet pretty much every given second. Kristina given the capital one breach, 100 Million People affected seems, in your opinion, youre way more versed in this, do you think this is coming, happening more and more often from a lot of these big, Large Companies, not protecting our data . It is interesting with Large Companies like capital one. Big companies are really struggling with how do they protect all of this information that they have. The larger the company, the harder it is to protect. If its a small company, relatively easier to protect versus somebody that is global, that has hundreds of of customers. That is a big deal when it comes to security. The lapses of security happen on a regular basis. That is something more common as Companies Grow so large it is difficult to protect all the systems. My heart goes out to all the defenders out there trying to protect a company doing the rye thing. When a Company Grows so fast it is becomes more difficult to protect information. There is more they could be doing. At that they prioritize personal information that theyre holding for individual people. Thats a big one. Thanks for joining us, david, appreciate it. Thank you very much, appreciate it. Connell interesting stuff. Feeling the domino effect. Farmers in americas heartland have been struggling with tariffs and floods. Were reporting on that a lot. Now the crisis is spreading to new industry. Were joined by bob in ohio. He is an owner of a bobs meat locker. We reported on the weather how hard it hit farmers, we report on the tariffs, go down to the local supermarkets or the stores, what is the impact there . We get a lot of customers worried about price increases. Unfortunately with meat prices they arent necessarily dictated about weather or inputs for feed costs and everything. It, prices are dictated on the quantity thats out there and that hasnt hit. It will be a longer process to see what type of price increases could happen. With the beef market it is such a long process from birth to slaughter it is just a longer process. With poultry thats a short process. And they can control the hatch. If feed costs get too high, they can cut back on their hatch. That can affect prices that way. Connell so you are starting to see some of those prices go up . What would you expect for the other prices in terms of, you talk about the long process for beef, some other items, how long does it take to work through . I would think, if there is going to be, and i dont think it will be dramatic myself. Connell okay. But i think by the end of 2020 i think you could see some increases in beef. Connell thats interesting. Because that is aways away, right . Correct. Connell we hear all the time, you know, you cant control the weather as you know but we can, to some extent control our trade policy. Were in a negotiation with china right now. I guess what im hearing from you, if that were to drag on, now a lot of people are predicting it will, maybe past the 2020 election that will have connell go ahead. That will have, the trade will have a bigger impact on pricing than what the actual weather will have. In my opinion. That obviously thats my opinion. Right. But it might not hit until later on i guess i was going to ask you about. Yeah. Connell you can hang in for a while . When do you really, when do you reach the point you say this is too tough . Or do you not know . From my own personal standpoint . Connell yeah. We will hang in there. It is like any other business. You dont hit a home run every year but this might be the year where you just have a bunch of singles. Connell go station to station i guess. Because thats, and bob, thank you very much for calling in today. We appreciate it. We talk about this all the time. And that put as personal face on it, tells you that even if these the trade negotiations do drag on for a while, maybe the economy at least in parts withstand that. That is interesting. Well check in with people like bob more and more. Kristina. Kristina since it is the 4 00 hour we have more breaking news. Zarif, foreign minister for iran responding to sanctions. The reason for designating me im irans primary spokesperson around the world. Is the truth that painful . Has no affect on me or my family i have no propertyinterests outside of iran. Thank you for considering me such a huge threat to your agenda. Considering me such a huge threat to your agenda. Well have more after the break. Connell okay. Will followup with more breaking news from the president taking aim at go figure, Federal Reserve tweeting at drawing power. Let us down. Dont not to say we are winning anyway but i am certainly not getting much help from the Federal Reserve. More to come meantime pushing full speed ahead for more market share honda is going all in on off roaders. Has all the fun looking gary hes taking for a test drive today. Take it away. This is the first sidebyside, whatever you want to call it. Now they have come out with this, basically a motocross bike with four wheels. Has 104 horsepower. Very fast, you can get over some big rock. Big money, this thing costs 13,999. This has fourwheeldrive, its got good suspension, [inaudible] it is also very loud. It is a lot of fun and is going to be a big player this year. I will tell you, it is a great looking shot as usual. He is driving pretty fast. Chris very fast it is expensive. Almost 20,000 . As we both look at each other lets be honest we caught only every other word but we caught that 20 grand mark. If people have disposable income, it is saying something else. He just needs to go over rocks. I was kind of hoping he will go to the trees where he can jump because to me it looks very exciting. Pretty cool, well done that just about wraps it up. Tomorrow will be kind of interesting. We will see. We expected the president to basically said what he said and now everyone will try to protect what powell will say. Dumping the market early on. There you go. That is it thank you for joining us. One hit wonder breaking news, stocks sent to sparling this afternoon. The dow jones tumbling 500 points. And coming from the head of the Federal Reserve. President trump we want just responding. We will bring his comments in a moment. Hi everyone this is bulls bears i am david asman to join with a robert wolf, susan lee and will Jerome Powell telling reporters say the quarterpoint rate cut was the first cut in more than a decade. It may not be the only one we see this year but this is not the beginning of a long series of cuts. That is what he was saying. With that the dow took a dive