Rates. A couple members wanted to cut by 50 basis points instead of 25 basis points last meeting and most members viewed the 25 basis point rate cut as quote a midcycle adjustment. Members think trade tensions are far from settled. They expect trade uncertainty to persist. While the minutes are released with a threeweek lag and since they met, President Trump decided to move forward on further tariffs on remainder of chinese imports, it appears fed officials view actions like that likely to persist. So bottom line here, charles, while the fed cut last meeting it is unclear whether further Interest Rate cuts are going to be a slam dunk as they want to preserve optionality even in the face of ratcheting higher trade tensions. Back to you. Charles jennifer, thank you very much to help hash this out, President Trump continues to press on the fed,. Fed chairman Jerome Powell has totally missed the ball he said on Interest Rates. Watch. The Federal Reserve let us now. They missed the call. They raised them too fast. They raised it too high. They did quantitative easing tightening they shouldnt have done tightening and shouldnt have raised them. Could have had races but nothing like they did. Charles former dallas fed advisor Danielle Dimartino booth, Francis Newton stacy and from the wall street journal Global Economics editor, jon hilsenrath. Let me start with you. The meshkets slipped a little bit on this news. I think interesting thing, felt like more than just jay powell was saying midcycle adjustment. Felt like something he was thinking about, preserving optionality. What do you glean from this so far . There are two important points about these minutes. First one he talked about in the report on the minutes there are divisions inside of the fed. The market was disappointed when powell didnt telegraph more rate cuts after they moved into july. The reason he didnt and the reason he couldnt because there against it. The wall street journal, my colleague, nick timmer this beat reported earlier this week, five, six of the 12 Regional Fed Bank president s expressed some reservation to us about moving rates. So powell wasnt just fighting President Trump on this. He is also fighting with his own officials about how to manage policy. That is one thing. The other thing i think is important to remember, this meeting happened three weeks ago. So things have changed since then of the meshkets become more turbulent. Very importantly, longterm Interest Rates have fallen. So the calculus inside of the fed i think is changing a little bit. Because the longterm rates are coming down, the feds hands are being forced more towards cutting rates. Look out later in the week for the jackson hole speech by fed chairman jay powell. That will pay out i think helps lay out what comes next. Charles danielle . Again, as jon just said this was three weeks ago. We had a seminal report come out this morning f the fed was encouraged by strong employment, they dont have that so much because we had a revision through march of 501,000 jobs to the downside. Prior years, 55,000. This is the biggest downward revision since 2009. In jay powell needs ammunition to be more aggressive and dovish in jackson hole, he has got it in the form of fresh data. The market may not Pay Attention to the particular data release, it is kind of in the weeds, a revision, policymakers at the fed it is their job to Pay Attention. They definitely got more leeway. As john said, we had the flash inversion in the yield curve that spooked markets and bond charles does that resonate with the Federal Reserve . Financial stability is part of their mandate. They have to Pay Attention to the increased volatile in the financial markets. They absolutely need to be cognizant of the huge decline in bond yields. Charles francis, irony, as much as President Trump pushed jay powell, historically no one pushes the fed around like markets, right . So that inversion, the 800 point decline in the stock market certainly seems to me the wall street is screaming to the fed to be very aggressive. Maybe a 50 basis. Cut next month. I think that is what the is being baked in. Powell has to decide whether i keep what is already good going . One quarter point previously is like turning the titanic. They had tightened nine times, or do i save those bullets in case we have credit default or some severe crisis. Right now consumer doing well. We dont have any massive defaults in the credit markets. Do you save the bullets, you only have 2 1 2 or do you go ahead aggressive cut now thinking that things are deteriorating . Charles right. Jon, bullard, new york fed, John Williams came out with the piece, it suggested hey, the fact that we have a few bullets should actually mean we use them aggressively rather than trying to, you know, to ration them. It doesnt make any sense f we have a few, they must be used, lets be aggressive wit. Charles, youre absolutely right about two things. One, that the fed pays a lot of attention to the markets, perhaps more than to the white house. More on the idea of bullets, thinking inside the fed, Theory Research behind it, when Interest Rates are already very low, when facing a downturn or kind of shock you have to be very aggressive using your ammunition at the front end. You want to prevent the disease rather than try to cure it with a lot more medicine. So i think the feds mind set, if it see as problem, it will move aggressively. I want to say one other then about danielles point about these data revisions i think she is on to something really important. Not only have the job numbers been revised down but just in the last few weeks, profit numbers, productivity numbers, and economic out put numbers have also been revised down. That doesnt mean the economy is going into recession. But it means that the strength we saw a few month ago, isnt quite as much as we thought it was. Charles right. We have to Pay Attention to that. Charles go back to jennifer. She has more particularly where the fed is particularly when it comes to yields. Charles, i wanted to say in the minutes fed officials did discuss the drop in nominal yields. They did discuss the prospect of financial instability though they dont feel thats a huge threat right now. It was interesting because a few members talked about the inversion on three month, 10year treasury as opposed what we saw between the 10 and twos. Because it was invert ad couple months, if that continues that could signal further weakness and could riesch the fed to cut substantially. That was only a couple members. I also want to know, while a lot has happened over the past three weeks on the trade front, it seemed very in the minutes the fed is expecting this to continue. If people are thinking, oh, the fed will turn around and start cutting rate all of a sudden because the president decided to levy more tariffs on china may not be the case. Well get some more color from powell on friday but, you know, we need to take this all in stride here. Charles jennifer, thank you. That three month, 10year inversion has been on since may 23rd. Thats right. Here is another thing im seeing, danielle, and jay powell has talked about this, i dont know why anyone else hasnt, deflation in the system. Manufacturing prices paid, you look at the chart over the last year, it looks like the definition of a deflationary death spiral. What did home depot say yesterday . The reason they had to lower their guidance wasnt, main reason was deflation in lumber prices. Lowes said the same thing today. The massive deflating prices, commodities must mean something to the fed . They do. I think the fed will definitely look at falling lumber prices particularly indicative of Mortgage Rates fallen by a full percentage point. We got the first existing home sales report positive on yearoveryear basis in 17 months. The fed has to be concerned. I think one of the things that i picked up in these minutes is there talking about other substitutes that can synthesize rate cuts. Theyre already talked about quantitative easing around the table and theyre making that a matter of public knowledge. They are looking beyond the bullets they have in the chamber to other ways. Theyre already looking at qe. Charles how much do you think also is the fact that the world has changed . You have got 17 trillion in global Government Debt with negative yields. In netherlands, germany, switzerland, every duration, from two years to 30 years with negative yields. That has to change the dynamic in some way . It changes the dynamic. The fact were headed into negative yields is quite strong. Everyone is piling into the u. S. Because rest of the world is negative. Theyre chasing face values because the yields are negative. The other risk if the yields pop up a little bit, there there wie mass exodus out of bonds. The face value is falling. If it falls 20, 30 in safe haven investment, pensions and endowments enduring a lot of losses f we have a credit event i see massive deflation. If we dont have a credit devent. Charles how close are we to credit event . Depends how much the tightening cycles gone you there economy. I dont think the nine tightening, Interest Rates gone up have fully gone you there economy. Trump putting further tax reform on the table is trying to say that we have some fiscal stimulus coming in to counteract the too much on the fed. I think that is the risk in the economy. If we dont see a credit event, i see stagflation. Im concerned about a credit event. Charles you talked about this many times. We have seen four leverage loans get pulled the past few days. These are not the kind of things you want to see when we have roaring credit boom. You dont want to see investors start to push back. Charles jon, some of the fed officials want ad 50 basis point cut. When things change after these meetings do these voices gain more stature . Can they say, you know what, i told you so . Can they get more in the next fomc . Maybe. But my sense is that jay powell is pretty firmly in control of the committee, he has an inner circle of officials who are kind of steering things. I think at the end of the day it is really jay powell driving things and trying to build consensus around it. So, you know, my sense was that, there might have been a couple people looking for 50 basis point but there wasnt a heck of a lot of appetite for it in this meeting. Charles right. You would have to see the economy really showing clear signs of slowing before they consider that. Charles looks like, everyone agreed, the world has changed a lot in the last three weeks. Danielle, francis, jon, jennifer, thank you very, very much. Thanks a lot. Charles Hong Kong Riot Police dispersing people at a train station. The police were quote, dispersing people after a ceremony. The protesters they began to block roads, spraying hoses, pouring oil on the floor, piling trash, those kind of things. Police with riot shields faced off with that group. Well continue to follow these shocking developments out of hong kong. It was monster earnings from target and lowes this morning got things going. Should this be the final nail in the hype over 2020 recession . Or is it too good of a political talking point . Facebook bringing conservatives and liberals together, both sides slamming the tech giant audit. One republican senator described the audit as a smoke screen designed as a solution. Well have more on that later in the show. This was me before liberty mutucustomized my car insurance, so i only pay for what i need. And this is me now any physical changes to this mans appearance are purely coincidental. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Managingaudreys on it. S . Eating right . On it staying active . On it. Audrey thinks shes doing all she can to manage her type 2 diabetes and Heart Disease but is her treatment doing enough to lower her heart risk . [sfx crash of Football Players colliding offcamera. ] maybe not. Jardiance is the number 1 prescribed pill in its class. Jardiance can reduce the risk of cardiovascular death for adults who also have known Heart Disease. 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The good news is, that when you sea a target, that is a Pretty Big Company come out with numbers like this, walmart, i do think it icemanningful. So you know, all this talk about 2020 and recession, i dont know what the people are eating for dinner tonight. All we can tell i think the economy here is still in pretty good shape. I do worry across the globe. I do not think were immune if we fall off a cliff. Something has to be watched closely. The president needs to step lightly here on some things he says. Would i love if he calls up china today, says, im taking back the september 1st thing. Lets talk throughout the rest of the year but i dont think that is going to happen. Charles im on record, i told my subscribers i think it will be suspended before september 1st. We will see what happens, to your point. I dont know i wont argue that weve seen it before. Well see if that happens. Charles we have seen it before. Everything was working well for President Trump even without that. I think were quote, unquote, winning the trade war. We have to allow china, the chance, to quote, unquote, save face. Where does this put you with the market, gary . Were still having a tough time getting over the close from august 2nd, right . We had a huge gap down the following monday. Weve bounced around in this area. It has been crazy, wild storm, almost call it a tempest in a teapot but what are we signifying because so far we havent moved an inch since then . I will probably bore you. I think were in wicked rangebound action with a lot of noise, moves markets down 800, up 300. Yesterday we were down bad towards the close. We gap up 200 today. I think well see more of this. The best thing i saw today, some of my leading growth names popped out, a few broke out to new highs. Some that are under pressure having good days. If Growth Stocks start to lead again, i will get excited. Today for me is a start. Lets hope it continues. But overall, look the energy stocks, bear market, most commodities bear market. Biotech bear market. Its a split tape no matter what, even if we do go higher. You better pick your spots right. Charles what are the growth names, just a couple . Can you share with us that youre watching as proxies . Some names. A lot of people wont know these names, hub spot, hubs, or pacom, pacy. Strong earnings and Revenue Growth in the Software Sector which has been a leader for a while. Theyre starting to pop out here. If i start to see more, good news. So, you know, again im a big growth guy. If that continues, i think that is good for the market, but again, just one day today. Again fingers crossed. Well take it one step at a time especially in this market. Charles early in the week, jpmorgan said buy in september because well hit new alltime highs in the first half of next year. Do you get a sense maybe there is a lot of professional investors out there chilling out in the last few weeks of august, ready to come back and buy . What day in september . Exact day, exact hour . What we can do is give you the big picture. There is a heck of a lot of cash still out there, and a heck of a lot of we dont believe this. I have never seen a market that has done what it has done, everybody is kind of sort of depressed about it. If we can get going, markets break out i think that will invite a lot of cash off the sidelines so that would be good news but let me get past august before i start thinking of september, charles. Because, listen, it has been a tough road. Your best play recently, just put your feet up and relax, let things come to you. Charles not panicking. We always say dont panic. Exactly. Charles thank you very much. Youre one of the best. Check gary out on bulls bears today, 5 00 p. M. Eastern time. Right here on fox business. Thank you, charles. Charles you got it, buddy. Walmart suing tesla. Wow. They claim several solar panels tesla installed on Walmart Stores rooftops, they say they burst into flames. Fires broke out at seven stores since 2012. Causing millions of dollars of damage. One ohio store had to close over a week. Tesla has not publicly responded to the lawsuit yet. This is what the democratic president ial race done, making former Senate Leader harry reid sound like a moderate. Well explain next. We call it the mother standard of care. Its something we take personally, and believe in passionately. Its the idea that if our mothers were diagnosed with cancer, how would we want them to be treated . Thats exactly how we care for you. With answers and actions. To hear your concerns, quiet your fears, lift your spirits. With teams of cancer experts and specialists, delivering advanced Treatment Options and compassionate support every step of the way. All here in one place, with one purpose. To fight your cancer, together. Thats the mother standard of care. This is how we inspire hope. This is how we heal. Cancer Treatment Centers of america. Appointments available now. Charles one of the biggest names in the democratic partys past, coming out against some of these socialist policies many of todays president ial candidates are pushing. Talking about former Senate Majority leader harry reid. He is warning medicare for all and decriminalizing the border are not winning issues in 2020. I want to bring in our political panel. Patrice lee onuka and democratic strategist, kevin walling. Kevin, i have to start with you. Everyone agreed on harry reid is one heck of a politician. Amen. Charles understood what people wanted. He is to me sending a clarion call to the current democratic party, youre heading in the wrong direction . I think youre absolutely right. Former majority leader harry reid knew where the votes were when he was majority leader. He passed obamacare obviously with president obama and speaker pelosi. He has a good read coming from nevada where majority of democratic primarygoers where their feelings are, medicare for all or singlepayer option, advocating supporting joe biden, with that tact with more conservative moderate dem that make up the majority of our primary electorate. Charles patrice . I agree here. It egg interesting when you look decriminalizing border crossings, 66 of the Americans Last month think its a bad idea. He has come on board. However harry reid has had a history of flipflopping on this issue because in 1993 he was against anchor babies. He flipped over in 2012 when he thought it was advantageous to get president obama elected if they softened enforcement of our immigration laws, sending people back who came here illegally. I kind of take his comment with a grain of salt but i hope that are those more moderate would listen and stand up for, for centrist position. Charles listen, when you get in washington, d. C. , putting your finger in the wind, feeling which way the winds are blowing is part of the gig. Kevin, i do wonder if reid is feeling wind, that leftwing is tsunami, that he is trying to warn his fellow democrats but feels like the moe men tum is on the side of medicare for all, decriminalizing the border, paying off Student Loans . Im not sure if this time the democratic nominee will have that platform but there are enough candidates out there that tell me this could be future for your party no matter what. I think youre absolutely right, charles. I think he is trying to bring us back to home plate where majority of democrats are. Majority support for medicare for all. Majority support in democratic primary electorate, but at the end of the day harry reid wants to beat President Trump. He knows politics better than anyone, coming from a state like nevada. I think wants a more moderate person to take on incumbent president. Charles real quick, kevin, i go to you this after this, patrice, joe biden, almost every day that some new form of criticism, you know, whether socalled gaffe, whether it is a his wifes sort of unusual endorsement of him that actually many people said proves he shouldnt be running, do you feel at this moment he will be the nominee . Are you, can you say out loud who do you think has momentum right now . Charles, i was with the former Vice President and dr. Biden last week in our home state of delaware. He had a small event there. I think he has the juice to go all the way. When youre on top everyone is taking shots at you. As you saw in the fox news poll last week he is beating president by double digits, 12 points, nationwide. That is pretty hard to argue against. That is the argument theyre making in the new tv spot across iowa. Charles you know, patrice, according to most polls, rather, all the democrats are beating President Trump. A lot of people dont have faith in polls. What i see that biden at 29 means that 71 have said no, he is not our guy. That is exactly right. It is summertime, charles. There are a lot of people not paying attention to 2020 politics the way we are right now. So the polls certainly indicate that President Trump is down. I think compared to where, you know, he was in 2016, the numbers didnt look good for him then either. We saw the inevitability, inevitable candidate what happened to that person in 2016. I wouldnt put too much weight in the polls right now but i certainly know it is important that the president makes a case to americans for why he should be reelected. I think economy, jobs market, are certainly two big reasons. Charles patrice, kevin, thank you both very much. Appreciate it. Thanks, charles. Charles strong retail numbers beating wall street consensus, helping the market go really high so far today. It is great news for everyone. Especially for number of people with at least one Million Dollars in a 401 k savings plan. That is now at a record high. The stock market, sill the greatest wealth generator ever. Why everyone should be trying to get a piece of the action next. We trust usaa more than any other company out there. They give us excellent customer service, every time. Our 18 year old was in an accident. Usaa took care of her car rental, and getting her car towed. All i had to take care of was making sure that my daughter was ok. If i met another veteran, and they were with another insurance company, i would tell them, you need to join usaa because they have better rates, and better service. Were the gomez family. Were the rivera family. Were the kirby family, and we are usaa members for life. Get your Auto Insurance quote today. Your business is up and running, but is it going beyond fast . Comcast business gives you high speed internet. We also have Solutions Like powerful wifi that gives your entire business more coverage and automatic internet backup that can keep your business running. So give us 10 minutes. If we cant offer you faster speed or better savings than your current internet service, well give you 300 dollars for your time. Call now to get your comcast business 10 minute advantage. Comcast business. Beyond fast. Charles a new report out from fidelity says there is Record Number offers with at least one Million Dollars in their retirement accounts, that surpasses Third Quarter 2018 high of all time. Contribution rates an increases hit record levels. I will bring in david bahnsen, cio of Bahnsen Group about this. I love when i hear this, david, feel like people committed to it, stayed through the lows of the great recession. They didnt miss a beat. Now theyre being rewarded for it. They sure are, not only saving through the lows of the great recession, that is where a whole lot of money they made came from was that they got a chance for a yearandahalf period during that great bear market to buy things on sale. We can never forget when youre in aaccumulate tore, buy low. Charles by low. I heard that one before. I did some research on this morning and obviously the folks at the bottom 25 percentile of incomes have less, fewest, less access to these kind of retirement funds, particularly from employers, even as low as participation rates. There has been talk in the past about somehow the government getting involved to make that, to fix that. Is there any kind of way, other than marketing to sort of get the lowest, Second Lowest wage earners to participate more . Yeah. I mean the way that i have seen it be successful, weve had experience at this in our own business, there are restaurants, for example, that have a lot of lower compensation employees that are maybe not used to an investment program. They get kind of intimidated by it. You have to come in and do education. You have to give information. It has to be done on a consultative basis, idea of government getting involved only goes one way and it is not well. What will happen over time, there will be more Information Available and as weve already seen, these 401 k plans have gotten better there is better investment options. There is more clarity. They are more simple now. It is really viable option. The thing that hurts the bottom level of employees is not just simply that they may not make enough money to contribute a lot to retirement plan, it is that there are some people in the culture, usually, limousine liberals, saying lets just make them a ward of the welfare state. Charles right. If we stop this entitlement social safety net, there will be more private market activity in these programs that as you pointed out are giving people greater wealth. Charles david, at the start of the day we were told the administration looking at perhaps doing something with payroll tax cuts and also changing the way Capital Gains were taxed, sort of with indexing. President trump was asked about that about an hour ago. I want to share his response to you, then get your take on it. Im not looking to do endecksing. Ive studied indexing for a long time. I think it will be perceived if i do it as somewhat elitist. I dont want to do that. I want taxes for the middle class, the workers, the people that work so hard, that is what im looking, i think indexing is really indexing is probably better for upper income groups. Charles your thoughts as someone who preaches investing, investing. Is it elitist. Would it be elitist to index capitalgains tax to inflation. God no, certainly would not be. A really disappointing answer from the president , because i never understood him to be someone who is concerned about how things are perceived. That is what he just said, he is worried about it being perceived as elitist. It is economically progrowth. Progrowth policies that build wealth, a rising tide lifting all boats. In this particular case it is also economically fair. People are paying capitalgains taxes on gains that they never actually achieved that were washed away from the tax that is inflation. So this was very sensible policy and it was on the table just a couple days ago. People, senior folks in the administration were telling me this was coming. So the president appears to have changed his mine very recently on it. Im disappointed. Charles maybe if he wins reelection, doesnt have to worry about running again, but politically, it might have been, might have been a landmine politically. David, thank you very much, really appreciate it. Thanks, charles. Charles later in the show, folks is weed, all derive weed and hemp enhance Rural America . Sparking outrage from both sides of the political spectrum. You wouldnt accept an incomplete job from anyone else. Why accept it from your allergy pills . Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief announcer fidelity is redefining value with zero account fees for brokerage accounts. And zero minimums to open an account. At fidelity those zeros really add up. Maybe ill win saved by zero charles facebooks audit finding that the Company Needs to do, quote, significant work to satisfy concerns of conservatives this was led by former republican senator jon kyl. It surveyed more than 100 conservative organizations and figures. The facebook is refusing to acknowledge bias sparking anger on the left. The some on the left are outraged that the audit was done at all. Fox newss Deneen Borelli is with me. Were you part of this audit . No, no one came to me about anything. I appreciate it the fact that i lost my job because of facebook censorship with my videos and message. No, no one came to me about anything. Charles did you ever complain to facebook . It is impossible to get through to facebook. Here is the other thing. I had the daily caller, they did an investigation. They wrote a report, a story about their findings of my case, my situation. So folks can check out that piece to see for themselves exactly facebook did. Charles tell as you glimpse, in a nutshell. What did they do . Yeah. Charles you were initially doing youtube videos, they were getting a million views. Grand slammed, you were riding high. All of sudden something went wrong. Same old deneen, same old message putting facts out there. Facebook changed their algorithms. I got swept up in all of this. Im a casualty of their censorship. Charles when you see someone like senator kyl, obviously a great reputation, coming in to do these kind of surveys, does it give you more confidence, less confidence, he might provide cover for facebook to continue this sort of bias or at least never admit isnt. Whose side is he on . They said with the report they said they didnt find anything, it is just a lot of words. We dont need another book report. We need reaction from facebook. Facebook is hurting consumers, especially if you dont have the same mind set. Charles they said, hey, okay, we saw some things here and there and there. We think we need to work on this and this and that. So you think theyre just going through the motions . I do. Charles this is Public Relations stunt . I think theyre going through the motions to check a box, charles. Where is the action behind what theyre doing . Not only that facebook has been fined for privacy issues. I think they are the highest fined, 5 billion of a tech company because of privacy issues. So, facebook needs to own up to the fact that they are not a platform. Theyre acting as a news organization. They should be treated as one. Charles now we hear, you know, that these organizations are doing more and more to recruit what they call seasoned journalists, things like that. Are you concerned that this situation is actually probably going to get worse with these large megaphone, you know, handful of social Media Companies have so much influence over our lives . That is a key word, influence. I would add another word to that, is trust. Who will trust facebook at this point if youre a conservative with a message that youre trying to communicate to others. You lose followers, that you dont even know about, your views are not even posted. Theyre taken down, you dont know about it, who will trust facebook at this point . I certainly dont. Charles you mentioned a five billion dollar fine. Most, not most, a lot of people on both sides of the aisle saw that, to your point a slap on the wrist. Right. Charles they got off scottfree. There are businesses that built into their Business Model to pay fines for things like that. Ultimately for facebook that is just a cost of doing business and theyre not going to change . I dont see it happening, charles. I hope they will continue to investigate to look into it but how many years has this been going on . How long will it take for negative to turn around. Charles have you tried to reach out to senator kyl on this . Will i try to . What will i gain from it . Charles he is doing some investigation. Maybe there is information out this that you have he has not been exposed to. I left a message with senator cruzs office a month ago. I have yet to hear back from anyone. Charles you might hear back. Hopefully they see your segment. Charles thanks a lot, deneen. Here is the question, can cbd, is it some think, ready to save the heartland . Well go live on the ground in illinois where a Software Developer has turned farmer, he is revitalizing one small town. Wait until you see this, if this is a blueprint, it is really something. Well be right back. Introducing the allnew chevy silverado. With fifty industryfirsts. Its the strongest, most advanced silverado ever. But dad, youve got allstate. With accident forgiveness they guarantee your rates wont go up just because of an accident. Smart kid. Indeed. Are you in good hands . As a doctor, i agree with cdc guidance. I recommend topical pain relievers first. Like salonpas patch large. Its powerful, fdaapproved to relieve moderate pain, yet nonaddictive and gentle on the body. Salonpas. Its good medicine. Hisamitsu. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. Charles more and more Software Developer turned hemp farmer Trent Lawrence started his own farm in dellavan, illinois to revitalize the area. A medical Cannabis Company is looking to get in on the action. They are opening a facility in the small town, expected to bring in 300 new jobs. Grady tremble with how this is happening. I should explain why i i hava goofy looking outfit on. It was raining earlier. We had to come in here. This outfit protects us from getting bugs from outside into the inside. This is the hemp plant. It smells like marijuana here, this hemp, you can extract the cbd in it, but it doesnt have thc that is the compound that gets you high. Trent was a in the tech industry, Software Developer, turned farmer. Part of the reason you did this, weve seen in Rural America, a lot of job growth happening in larger cities isnt happening here. You want to bring it back . Absolutely. There is a tremendous potential for job growth. Were talking about an industry reaching 20 billion. That is a lot of jobs. Were working with state organizations like illinois stewardship alliance, Greater PeoriaEconomic Council to create new industries off of this plant. Reporter you put a lot of your own investment, blood, sweat and tears, the banks have not gotten on board offering loans to you, maybe a traditional farmer growing traditional midwest crops . Thats correct. We first had our credit card lines terminated because we were involved in a cannabisrelated business. Then our construction project loans were kicked out from under us. We have indoor grow buildings. Things of that nature we wanted to put up. But even our personal financing for buying a new home was terminated. So we werent able to do that. Banking needs to get fixed. There is two federal bills in committee right now that could solve this today for farmers, not just for us, but for all of the farmers. Movement needs to happen on those bills. Reporter thank you, trent. It is kind of the wild, wild west out here but there is a lot of money to be made in the hemp industry. We hope to see that happen. Grady, thank you very much. New hope for the midwest. Meanwhile the market rally looking pretty good. Were off 100 from the highs but remember strong retail earnings, target, lowes, stimulus hopes are still out there. We have you covered, heading into the final, most consequential hour of trading. Well cover it next. I dont know whats going on. Ive done all sorts of research, read earnings reports, looked at chart patterns. Ive even built my own historic trading model. And youre still not sure if you want to make the trade . 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President trump is speaking at the American Veterans 75th National Convention in louisville, kentucky. He is expected to announce that he is signing a memoranda to direct the department of education to eliminate every penny of federal Student Loan Debt owed by American Veterans who are permanently disabled. Thats huge. Also huge today, the stock market rally. This as investors cheer strong retail earnings from target and lowes. We are off the highs of the session after the fed minutes, however, and it shows theres a lost c lot of conflict within the fed on what the next move might be. I want to bring in kevin kelly from benchmark investments. Lets start with the earnings reports. In fact, before we start there, the big talk over the last week has been recession, recession, recession. I first want to take a listen to what President Trump had to say about it, then get your thoughts. The fake news of which many of you are members is trying to convince the public to have a recession. Lets have a recession. The United States is doing phenomenally well. One thing i have to do is economically take on china because china has been ripping us off for many years. President clinton, president bush and president obama and others should have done this long before me. My life would be much easier, although i enjoy doing it, but my life would be much easier if i just said let china continue to rip off the United States. Charles you know, when the trade war began, i suggested that President Trump do an address to the nation saying at some point this could have it could hurt us economically but its a temporary pain to endure for longterm success of all the hard work, sweat, toil and maybe bringing back a few million jobs. President trumps leaning closer and closer to saying you know what, we have been able to stave off any serious economic damage but if we are going to win this, it may slow us down. Yeah. It could have slowed us down if he enacted the last tariffs he wanted to do which would impact the Holiday Shopping season, because it would have impacted all the consumer side of the tariffs and all the goods coming in. I think thats important to note this president actually recognized it would actually hit the American Consumers pocketbooks. The wall street journal even highlighted that because this president unfortunately sometimes speaks out of both sides of his mouth because he wants to be tariff man, he says these trade wars are easy to win, but we have seen its become more complex and convoluted than we could have anticipated and it has had knockoneffects in the global economy. You have seen the imf take down global gdp growth even further, we are seeing negative pmis in some of the largest economies, including germany which has outsized exposure to china. The biggest problem the u. S. Could be facing is a global slowdown which would impact 40 of all the revenues coming in on the s p 500 companies earnings. The stronger dollar has also impacted it so while the u. S. Economy is strong, as the president noted, that could have an opposite effect on the trade that we have with slowing economies globally. Charles i think thats why we call it a trade war, not that it would be painless, per se, but its something that must be done. Again, i think President Trump probably should push off the september 1st cuts. I think we are quote, unquote, winning and our economy is enduring. In fact, we are looking at this dow up 209 points on real authentic economic development. Consumers have plenty and are spending it. Yeah. But we also need to note that if youre invested in the consumer, you have to understand that you are leveraged a little more to volatility. So we have seen that. We have had some retailers do exceptionally well and have had some that have not done well. So when investors are looking actually at their portfolios, they need to notice what are they exposed to, enterprises or the consumer side. You need to be extremely picky on the consumer side. Charles well, the big names have shined bigtime. Thanks a lot. Liz claman, i give you a 210 point rally. Liz thank you. What a nice gift. Christmas in august. Thanks, charles. Breaking news, weve got wide divisions among fed policy makers that are moving the markets one hour after the Federal Reserve minutes reveal a raging debate over Interest Rate moves. How much to cut or whether the American Economy needs any cut at all. While still gaining, markets are slightly dipping off their peaks right now after the report was released. The news coming just hours after President Trump declared himself quote, the chosen one to take on china. The president making the comments before heading to louisville for a speech. He declared quote, we are