Before we talk about you in any direction, let me ask you about Paul Manafort. People are curious, is it a class that styles or was that this sort of thing coming up, this russian ukraine thing that we here in the media starting to bubble up a little bit. Are some upcoming thank you are a match. Thats of you. Paul has the exact same panel today he had yesterday in many responsibilities. What Paul Manafort has done in this campaign has been phenomenal. It took us to a place where we need to be in this home stretch. You need to add more people appeared at the very busy time getting to the last 12 weeks of the campaign. Charles on the ground, adding talent at the top. Theres only one room at the top and youre at the top position right now. Everyone can see that. Whatever happened behind the scenes is great. This is my interpretation. I know youre back around. I think this speaks that donald trump gave last night was a jack kemp type speech in that mightve had Kellyanne Conway influence all over it. Youve got a sub division. You sell what women want, how to the women. Sms admission that donald trump is a positive move in the sense that it went after nonwhite voters and women to is a very positive. The last couple days have been great for the reason you pointed out it backtoback speeches on radical islamic terrorism calling it what it isnt showing how how we can solve the problem , reminding everybody that the growth and birth a basis happened when obama and clintons watch since 2013. 80 of the People Killed since they started their violence and massacre happened in the last three years. So weve just created these vacuums in libya and iraq and syria and egypt. He calls up with one really tough speech, putting the case directly to Hillary Clinton to prove why after decades in Public Service youve got poverty, homelessness, crime, drugs, unemployment. Its not fair to people and is taking it right to her to say if you want to talk about temperament i will talk about tax and figures. Thank you for the shadow. He was a wonderful mentor to me and other people in the lab his philosophies and enterprise zones and opportunity scholarships are finding their way to the trump campaign. Too bad they never took jack kemp on his offer to help. Charles part of the success has been televised with donald trump the way hes giving these speeches. On the other hand, steve bannon, people calling him a bare knuckles brawl are, the kind of person who will let trump a child. Be yourself, be bombastic and be bareknuckle. How are you going to coexist . That is not your style. People say they will go through the finish line. Lets manage the candidate. You need to look no further than Hillary Clinton when you havent an authentic candidate. Somebody trying to be something shes not. I make his millions of dollars in speeches and through the cotton foundation. People want you to be true to yourself. That is part of a Donald Trumps magic has been off the last 14 which is im not a politician, not in the lead as any system that interacts the insiders. It is hand and so when we talk about pay that, my own view of the pivot of substance. It is not style. Charles will you say that too much . Im never afraid to speak out. Im never afraid to speak up and my opinion is very much respect it. Ive seen firsthand before me just women who have been promoted by donald trump in the trump organization. Everybody got a real treat and i thought the trump who is his Business Partner at the convention. Guess of course we all speak out. He gives great advice from different people including Paul Manafort. Charles the major difference. This is the best move. We are at the home stretch. But the major difference people will see, that the voters will see. The major difference will be more quite be seen which is donald trump and he loves to do it. Its comfortable and able. He delivers remarks, buddy makes himself available to the local media, National Media and also guess that the people. He loves being with the people. Usc has very much focused on five to seven to eight slayings dates immediately. Watch for at this week in addition to our ground game, data operation. Candidate appearances by mr. Trump and governor pence. Charles Kellyanne Conway, congratulations. In an event in ohio the next hour. The shes trying to pivot to the economy, blake burman reports the email continued to pile out. Reporter Hillary Clinton campaign expect her to go right after Donald Trumps tax plan later today. Clinton appearing on a high school in cleveland, ohio about an hour from now. Shes there to say that more money should be invested in goals like her when she will be appearing up rather than providing to give out tax cuts to the wealthy, which she claimed is that the heart of trumps plan. Another divide between trump and clinton is the estate tax. We are told double once again be a focus front and center for clinton today. Trump wants to get rid of the estate tax. Clinton wants to expand it good clinton we will repeat this afrnoon that she believes trumps proposal would lead to a 4 billion tax break as one example to his very own family. Clinton cannot seem to shake the headlines around in her emails. The summary of the interview from later this summer along with most of the interview were delivered to the republicanled Oversight Committee today. Much of it has been humbly redact good because that has been deemed highly classified. Charles thank you area much. The state department will release the emails to Judicial Watch is. Michael but tasha. Congratulations. First of all you spot an amazing fight and now youre starting to get a lot of things that the public wouldve never seen redaction then ill. What exactly do you expect . By smoking guns could we see it . Thank you for having me. The communications between mrs. Clinton and ann bill clinton on the Clinton Foundation as folk were going for. Last week a receipt emails from her closest personal aide. Those 13 miles she didnt return. What we saw there were communications between who my father did so see a lot more emails about Clinton Foundation donors getting initial access. Charles connecting those dots, of course, of course you cant push back from the clinton folks saying there certain things. People know each other. There is no evidence that anything ever happening from casual introductions. Thats absolutely right. Thats what they say but its not the truth. There was an ethics agreement in place for mrs. Clinton when she became secretary of state. That said she would not be involved in the foundation that cavities. The Clinton Foundation had new rules and guidelines set up to prevent the Clinton Foundation and having influence on the state department. You have concerns at the beginning of her term and clearly they were justified and it looks as though all of those concerns may have been ignored. Charles what can happen from here . Any options with respect to Legal Options or is he setting the record straight with the public . Judicial watch has 30 federal lawsuits related to the clinton email scandal. We continue to get more records, more information and we try to create an entire picture so the public can see what happened for those four years instead of the statement they continue to say. Charles and the idea when have this material . Any sense before or after the election . We go to court on monday morning. Department will hopefully let the judge know what they think the federal should we. Most likely that will be a long scheduled for records and we will fight back and hope early the judge will order the state department to produce records sooner rather than later. Charles michael, thank you. We appreciate it. Donald trump receiving his intelligence briefing and you cant be trusted. Commander tom croce says Hillary Clinton has already mishandled sensitive and her mission. Thanks for joining us. Obviously its really all political nonsense with respect to Donald Trumps should not have these, but we had this conversation about the mistake Hillary Clinton made as secretary of state and other forms of life within the government. One of the things its telling us who is choosing to have with them at the briefing. The former United States attorney in the form of Chris Christie has used a sensitive Law Enforcement information from the threat briefings, no santa manage, no wife harvested. Someone like general flynn whos been a National Intelligence understands military intelligence. Two individuals with specific experience who will be in there with him. Donald job has been a businessman all over the world for generations. He understands her in the intelligence Business Intelligence information. Hes been a consumer and hes been successful in using it. He protected his empire, businesses. I dont think you are going to see the kind of risks associated with that. When he gets in the room they will be able to show had how the information is generated and you will see someone who guards the secret. Charles some people say the information is enough for any candidate to have pivotal for such a little bit once they become privy to it. Do you see that happening . My time in the white house situation room and the National Security staff in the Transition Team to president obama, you are going to get a president ial briefing. He will be showing information that is sent to dave. It does have an effect on you me the first time you start absorbing the information how dangerous the world is. Hes done risk assessments before investment in foreign countries. Use use Business Intelligence. He is protected because theres an end to it. I cant imagine somebody with that background x. Sent individuals in the room within what ever do anything to jeopardize the United States. Charles tom, theres also report that the nsa may have been hacked. The Foreign Government continues to pile up all over the internet at different websites. If this is true, what are the implications . Is very scary because every time this thing happens theres a security review. You have to figure out how the information got out. Its very costly to duplicate those tools and methods. Also, it puts lives at risk. If you are actively using these tools to protect homeland or assets overseas, this post lives at risk. These kind of breaches and releases have been par for the course in the last eight years and this is sent and you need a National Security team and structure that understands the secret. Charles should maybe have proof as much as thats an option. I was. I would say the bad guys are one step ahead. We have amazing National Security intelligence professionals throughout the community who spend every day, every waking moment trying to protect these secrets. One bad actor on the inside as we saw it in the cases of some of the larger National Security breaches. It is something you have to guard against an something that these agencies are working on every day. This is more par for the cares of the last eight years. Charles scary stuff. Thank you appreciate it. Fallout from at napoleon now. Obamacare in disarray. The administration knew it would do this. In the meantime, stocks are down. Concerns about the side after William Gottlieb told peter burns yesterday september could be in play. 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Ask your doctor about cialis and a 200 savings card stop taking cialis and get medical help right away. Legalzoom has your back. For your business, our trusted network of attorneys has provided guidance to over 100,000 people just like you. Visit legalzoom today. The legal help you can count on. Legalzoom. Legal help is here. Charles you are looking at a fastmoving wildfire, a series of wildfires in california which have driven over 80,000 residents from their homes. The fire began in late morning a small patch of flames next to interstate 15. 60 miles east of los angeles began to spread rapidly. As you can see the flames are getting bigger and bigger, racing into the air as high as 80 feet. We will keep monitoring that. Were about to get fresh clues from the fred today. Kind of raising a little bit more today for every type after bill bradley joined as being exclusively yesterday and told your barns about perhaps in the vincent timber you take a listen. I dont think the election would weigh on us one way or the other. As i said, if we decide to raise rates the economys doing well. Not because we are worried about inflation over the shooting major way. Charles the election might not you wayne and i must add, but obviously can have an impact on the election. The minutes always release 2205 in fact. Our investors bracing for a rate hike and can they continue if that happens . What does this all mean for november . The rally has been working in democrat favors. There is no doubt about that. If it actually does get better and the sad as rates, would not derail all of it . Potentially, charles. Lets just say i think its all contingent on the unemployment report. Well get another unemployment report before they meet in september. Say its gangbusters like it was this past month which i thought it was pretty good. Lets just say they keep moving. They say were going to raise a quarter of a point. That is all they are going to do until november. I cant see them doing another quarterpoint and not sober. I think the market at this point can stomach a quarterpoint increase. Its kind of preparing if you will. Because about the markets markets continues to trend higher. Charles to your point you are right in the the market was bracing for it earlier and the fed did a good job of telegraphing it. Im not so sure they are doing that job now. Thats one of the reasons bill bradley was so candid with peter burns yesterday. The rate hike last december, what we got out was the worst start to the stock in history. Im not so sure if the babies on wall street can handle 25 basis points. You may be right. We both looking at this market a long time. If we combine the predictions on what will happen after rate hikes. I personally thing the market has been treading water if you will. Although its certainly been the overall trend since the low has been a remarkably so. For the past few weeks its been treading water. Maybe it even has that dependent on what the fed says her september. I guess im pretty bullish at this point. Charles at the fed were to hike rates or there is some reason the market took a big combo before november, what impact would that have on the election . Well, i guess it depends how much of a tumble. The market is down 10 or 20 , then swings in favor if he makes it a point in Donald Trumps favor. Hillary has to go back and look at the market. She says im basically going to continue the last eight years of obama. But what weve had. Weve had a market that performs better under reagan. Up over 100 since obama took office. Thats the case then we are down maybe 5 , 6 . If we crash, obviously i think is swings to trumps favor. Trade to thank you much. Appreciate it. Getting news explicitly warned it wouldve been an exchange of the administration that the merger was humana. Why did the government block the merger . Right after this. Charles so denies bowing out in the future of obamacare are piling up. To this make donald on what happens if more Health Care Companies decide to do the same. You know, that is the thing. What is happening here, charles, we have been researching this and want to find out what happens to customers that the insurance exchanges, the Obamacare Exchanges that ensures weve done hundreds of thousands of people in arizona faced just that. They have no insurer and the exchanges is that fails on the exchanges they are. So we looked into it and found the choices are pretty dire. You may not get doctors or drugs covered. Be trying to get medicaid or you could try to get a catastrophic plan. Thats what the u. S. Government is advising. We have a direct quote from the u. S. Government with health and human services. If you get your Insurance Coverage cant vote because your insurer fails on the exchange, you may need to resort to catastrophic plan. What is happening here, charles, aetna was asked by the Justice Department blocking the merger with you men know what would be the impact on the public exchange. They said weve got to do this deal was humana on us we cant withstand our losses on the exchanges with the doj blocked and then flooded the exchanges. Back to you. Charles thank you very much. Edna aetna warned, if you pull the plug on this merger we are going to pull out of exchanges get the murder of courses blocked anyway. 430 million the reason for pulling that. Inside obamacare of her bruce strassmann. Listen, heres the way i see it appeared you are the author of this. The Insurance Companies wrote obamacare for the most part. The government paid them for losses. That runs out this year and now they are cutting and running. It appears that way. The interesting thing is Insurance Companies are charged with managing risk of six people. They did not anticipate and they say that call after call of earnings. They did not anticipate how sick these people would be. We also know that not enough young and Healthy People are signing up because you need young people signing up to pay the claims of the sick. That is the rub here and the Insurance Company is i now say that they need to do Something Different with pooling. They in the states to chip and her tax dollars are get insurance to fees into the pool. This is kind of a negotiation and the interesting thing the aetna cubana merger is that its all playing itself out because letters are starting to be late and so forth. You cant say that they didnt know the government didnt know this was coming. The Obama Administration, the only merger they like are the ones worn off it is involved in. Here is the thing. Insurance companies are in the business of understanding peoples house. Thats what they do. The idea people never have insurance before would be really sick is a little disingenuous. On that note, how does this get pitched . Before obamacare, everyone acknowledge there is something wrong with the system that these costs were running up to high and unsustainable. Is it ultimately a singlepayer way they say you see what happened here just make it a singlepayer or is there a legitimate freemarket approach that a president can take . Well, a little of both. Certainly you could go a singlepayer but i think that ship has sailed because more private Insurance Companies are managing medicaid patients. So i think the situation you have here and the aetna ceo has more detailed comments than anybody on this. He is saying that the Obamacare Exchange needs to work like medicare and medicaid. The usual trend nation on not as they either need a little more of our tax dollars where they need the freedom to set up different risk pools end quote more high risk patient or create a pool created by Insurance Companies to pay the claims to these people. The reality is the insurance come to me instead have a hand in writing the legislation and they are not as good as what they say they are when it comes to predict if madeleine. Really appreciate it. Law and order will be in order to the economy. Former n. Y. P. D. Commissioner on if more police will lead to more growth. We will be right back. Charles the question is will law and order fix economic albums . Donald trump making the case. The problem in our community is is not that there are too many police. The problem is that there are not enough police. We reject the bigotry of Hillary Clinton, which panders to and talks down to communities of color and sees them only as those. Charles conservative reviews, correspondent on whether this will appeal to black voters. Yeah, i think it will. Americans are greatly concerned about the economy but the safety and security of themselves and their families today and in the future. People are very can earn. When you have urban communities they are on fire with violent this all stems from poverty. When you look at no incentives, no job growth, high unemployment, poor public schools, high crime rate, these arent really a recipe for disaster in the communities. Progrowth initiatives are the way to go. Charles there is a twopronged thing. Theres also a backdrop of a lawless community. I was on fox and friends and talked about the black community being held hostage. I always felt that it was almost like being in nigeria with vocal rom. It feels that way. If you are scared or intimidated its hard to have any economic growth. No one is going to invest in those communities and how you sell this to a community under siege and some are saying after this many decades still continuing to accept it. First of all you have to go to these communities. In the black community there is an echo chamber the same message. Victimization and pandering. The new message needs to be of economic liberty, freedom and empowerment. Better quality schools. Kids are trapped in failing public schools. Lower taxes, less regulation. This way you can help grow the economy and get people off the street to do good things in their community. These communities are on fire because of a lack of opportunity and theyve been going off for many years because of the failure of progressive policy. Charles i have this argument debate conversation all the time. Ive got 250 coming over to the house for a summer sending. Youre invited. Or in tom your bathing suit. The accountability part. Ultimately america is designed in a way where people pull themselves up to the bootstraps can make it. Have you sell the accountability part but democrats say its not your fault, black people. Is evil republicans and other things out there. As part of the pandering message. I tell my personal story how i worked hard for many years. Yea. Charles some of your friends perhaps. Some people you will not be able to reach. Others are afraid of being vocal and true to their core beliefs. So they go and they dont say anything. It is important to reach these individuals because it is about personal responsibility. It not about government. Government is not the answer. Charles one thing i would like and we are going to have howard safer but his feed went down. A lot of people dont understand the law and order aspect is hard to implement the community under season. You are not going to squeal on someone if theyre not going to go to jail for three. A member of the latin kings murders someone. This guy would be back on the street. We need tougher laws. They perhaps. Do you think any major dynamic changes so they put away and young people arent handicapped for the rest of the lives. A lot of people feel if they are prisoners in their own homes because of the crimes going on. Let to the fact that individuals are getting away with so much in some cases the level of punishment isnt severe enough to take care. Charles this guy comes out. Went to jail for a year but is back on the street driving a mercedes and is not all the nice clothes. How are you going to keep that kid in school . Not only that, but it sends a bad message if he can get away with it, so can i. Charles donald trump 11 to 3 . I admire what he did last night. He needs to take it to your point to churches, communities and others. Realistically, what kind of an impact than keep them have he did hit the message over and over again. You think you can get double digits of black voters in november . Its about doing Something Different. These communities are hurting. Its important to take the message to the individuals. Theyve done a horrible job over the years of talking about freedom and personal responsibility in economics to black voters. Where is the harm in doing that . The message needs to go out there. Charles sometimes the message sounds disingenuous because its a lot more complicated than the buzzwords. Better than Hillary Clinton claims to have done. Charles she also learned some good music. If russia is a threat to the United States and iran as a threat to the United States, how big of a threat is russia working with iran . Think about it. We will be right back. We sing out loud here. Siriusxm. Road happy. [announcer] is it a force of nature . Or a sales event . The summer of audi sales event is here. Get up to a 5,000 bonus on select audi models. announcer vo you can sit in traffic. Or you can crack up. man on radio but if it isnt refreshing. announcer vo sorry traffic, we laugh til it hurts. Siriusxm. Road happy. I am not and should hear her on the floor of the New York Stock Exchange. Lets take a look at where oil is trading at this hour after you see where the indexes are. Treating donald and asked that the dow up 50 points. Oil is trading down about 21 s. 46. 37 a barrel after we got the Energy Information administration. Inventory report. The oil and stocks fell by 2. 5 million barrels. That was a draw down much larger than good. We had an increase of 1. 94 million. That would be just feel expecting a draw down and gasoline that is expected monday 6 million barrels. We will go back to cavuto coasttocoast right after this. Charles parts of louisiana still under water after nearly two feet drenched the southern part of the state. 30,000 people have been rescued from spreading 40,000 homes destroyed in the historic flooding. The red cross and relief operations will cost at least 30 million if we will keep you updated with this devastating disaster. Meanwhile, a brazilian judge has ordered american swimmers ryan lochte and james feigen who were brought back gunpoint in a taxi as they returned to the village. Police have yet to confirm the order has been carried out. Ryan lochte said his back in the United States ahead of the judge orders. The Federal Reserve decisionmakers and i suspect we could see growing dissent for socalled oregons socalled accommodation. I think monetary claim that they who gave peter barnes an interview yesterday gave us a hand. Take a listen. We are looking for growth in the second half of the year. Some acceleration in the growth outlook. The labor market continues to generate a reasonable job gains with 190,000 the last three months. We are edging closer towards a point in time where it will be appropriate to raise Interest Rates further. Charles hibernia predicted the Current Quarter will see 3. 5 which will trigger the local rights because such timing news will be great for Hillary Clinton. As it stands right now, the fed which does have a great track record of calling gdp for modeling is looking for 3. 6 growth. Meanwhile the stock market session is being weighed down after disappointing earnings from retailers and target. While they are proxies for the economy, keep in mind that their major victims of the internet. Urban outfitters and childrens play stocks are soaring on strongerthanexpected earnings. Right now youve got to go back to the Third Quarter of 2014 for the last time the economy grew more than 2. 6 . You get mixed messages that it doesnt feel like the economy is growing at 3. 5 or better. If that is the case it changes the dynamics of the stock market and maybe even the election. How do you see the earnings, what are the jobs numbers telling you and how do you think we are looking right now . On the followers i let the market tommy what it means and i see a positive reaction. More than 90 of companies have reported. We have a good earnings season. We are at the tail in the back right now. My focus is on the dollar. Looking for rates to possibly go up in the future. That is not likely to happen. Weve gone below 95. The Euro Currency back to the highest level since the shakeout. I dont think thats a major possibility. The spillover is with a weaker dollar. Thats a positive for Energy Stocks as they been dragging the market down. Charles energy to your point, but also multinationals. I want to go back to what youre talking about. The bottom line has been fantastic. A lot of that can be engineered. The top line still somewhat lacking. Guidance has been sub par. Thats the thinking rate retailers today. The numbers are what the numbers are. Whether we believe it or not to put that much stock in them. Its about guidance and with the markets perceive for the future. Analysts are looking for the Second Quarter of 2017 for things to really spark. We are fighting time. At some point the stock market is forwardlooking. At some point has to prove we are getting Earnings Growth to justify where we are. We saw below 2200 in the s p which was the target, the longstanding target betwe forever in the s p. We didnt quite get there way back off just today. Charles as we develop the last resistance number to your point, what would sort of give it credence beyond corporate earnings and forwardlooking rok rate now. Instability and energy. Crude oil has found out this was. And its been straight up sense. If those stocks up going down, that would be a drag on the stock market. Even against the head wind. If the stock is hurting the market, we can get an additional catalyst to the upside. Im not voting for caution. They had a key reversal last week. That tells me something may be afoot in the near term. Lets remember the middle of august you cant put that much stock. Charles a lot of anxiety. Oil hits 50 and we are up way not much higher. Thanks, buddy. Good luck trading today. The russian team with iran, why that has a former cheney at eyes are very worried. But thinkorswim already lets you create custom alerts for all the things that are important to you. Shhh. Alerts on anything at all . Not only that, you can act on that opportunity with just one tap right from the alert. Wow, i guess we dont need the kid anymore. Custom alerts on thinkorswim. Only at td ameritrade. Perfect driving record. Until one of you clips a food truck. Then your rates go through the roof. Perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. And if you do have an accident, our claims centers are available to assist you twentyfour seven. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Charles russia sending a fleet of bombers to syria after using an iranian air base. They are teaming up. John hannah has a former adviser to Vice President dick cheney. John, you are concerned about this, arent you . Yeah, i am very can earn. My colleagues at the foundation for defense of democracies have looked at this. This has big strategic implications for the United States. In terms of the amount of firepower they are able to deliver. Against targets in syria. More importantly it could begin to build the zone of immunity around iran, a russian sound of immunity if it includes russian planes and russian advance air defense systems. It will in effect take off the table at the ability of the United States or israel to take military action in the future against iran and in particular those Iranian Nuclear sites. Thats a great worry to me. Charles john, the region is in a click maddox of odd conundrums if you will with turkey, russia, syria, assad, the United States. The enemy can be my friend or my enemy. Is this all happening by the leadership currently and the white house. I think there is no question that at least as far as russia is concerned, she right now sees this in the middle east against the Obama Administration as a zerosum game. He is going to push and push as hard as he can to make as many strategic gains as he can while this president is in office. As you said, it is not just now a major Russian Military division in syria and it looks like its being developed in iran, putin clearly has his sights on pushing turkey further away from nato and getting into iraq as well where of course we all now know the iranians are the dominant power of influence inside of iraq. I look at food and potentially a military arc of influence through creactive onto lebanon right on the israeli border. Charles donald trump says anyone who has to fight against a safe if iran is actually allowing russia to ostensibly use their aerospace and solidify the relationship to kill a assist even though we know they are killing. Rebels. How does this all work out . I think it is very difficult except on the most narrow technical basis for strikes against isis to see at the moment how we really have common interests. Putin right now is using the cover of americas efforts to cooperate with and to build out the Strategic Influence across the middle east that is beginning to limit American Military freedom of action. We will eventually come to his plan is not be able to do anything in the middle east militarily without consulting with them first. You can believe our allies in the persian gulf, one of the most strategic weight presents are encircled by russian and Iranian Military power. Charles john hannah, thank you. Donald trump announced a major new changes. What does it mean for the campaign. I had kelley on Conway Kelley and conway on. We will hear from the experts next. . Charles breaking news. You see the market coming back . St. Louis fed president james bowler speaking about the economy giving clues about a possible rate hike. Adam shapiro has his remarks. Reporter slow growth, low real rates of return on assets. No recession. Get used to it. Hes speaking in st. Louis at Washington University at a wealth and Asset Research management conference and says its time for the fed to change its approach on macroeconomic and Monetary Policy projections. He predicts over 2 1 2 years gdp will grow at roughly 2 . Unemployment at 4. 7 , and that inflation will hover at 2 . He says, and this is a quote in his regards to recession, quote, we have no reason to forecast a recession, given the current state of the u. S. Economy. But the key here would be they think investors are going to Pay Attention to is slow growth, low real rates of return on assets, and again, no recession. Some of the other takeaways that perhaps its time for the current policy approach to acknowledge it isnt working because we are stuck in the slow growth environment. That the fed should reassess targets for inflation and unemployment, joining an echo of voices which are saying the same thing, back to you. Charles adam shapiro, thank you very much. More on that in a moment. Donald trump pounding the economy, staying on script and flipping the script. New leadership, major team announcement. Paul manafort taking on a diminished role but staying on as chairman and chief strategist. Breitbart medias Stephen Bannon is joining as ceo and Kellyanne Conway promoted to campaign manager. Conway joining me last hour, she says get ready to see trump stay on message. Yesterday he followed up the radical islamic speech with a tough speech putting the case to Hillary Clinton to prove why after decades in Public Service youve got poverty, homelessness, you have crime, drugs, unemployment. Not fair to the people in the communities and hes taking the case right to her saying you want to talk about tone and temperament, i want to talk about facts and figures. Charles to gabby morange yellow and trumps latest turnaround attempt. Major shakeup, gabby, what do you make of it . It is. It reflects what donald trump said in his speech about reaching a decisive moment in the election. As voters weigh his message against Hillary Clintons, donald trump needs to ensure hes mobilizing those who choose to support him, and the addition of Stephen Bannon, the promotion of Kellyanne Conway should hope to do that. Donald trump and the number of battleground states faces double digit poll deficits. Outsourcing the key components of his campaign to the Republican National committee, and its time for him and for his campaign to build a traditional operation, though he isnt himself a traditional candidate. Charles you know, gabby, when i spoke to kellyanne, i made the observation, she worked with jack kemp a long time ago, the speech that donald trump gave had a lot of elements of jack kemp, and her Polling Company has a division called women trends a bring them closer to female customers. That speaks to acknowledgment, they need to get nonwhites, women and one of the reasons she was elevated to the top . Certainly does, and i think thats why donald trump stuck to the message he did last night. Hes polling at 1 among black voters in a number of states that could be crucial to winning in november. It is important to make inroads with minority voters and especially with women. I mean, donald trump has suffered tremendously low Favorability Ratings among women, so the promotion of Kellyanne Conway and background in polling as an expert should help him do that. These changes in his campaign, the shakeup, whatever the campaign wants to call it, come at a time donald trump im sorry, republicans are under mounted pressure to really focus their Party Resources on down ballot races instead of him. These changes should support him in the event he does land himself in the middle of another controversy to not only have the infrastructure, but be able to operate without the Operational Support of the rnc. Charles on that note, the other part of the equation is bannon, and people say hes going let trump be trump and go at this with a street fighter mentality, and i think thats got some of the main street or established republicans nervous. In fact, brandon buck, who is House Speaker paul ryans spokesperson has already said that, quote, ive sold so many hot cakes, i cant tell with you respect to the choice. This is going to create more friction between terroridonald and the establishment. People critical of paul ryan for months now. There is the possibility could this backfire and create further friction between donald trump and gop leaders. But the resume that steve bannon brings to the table could be crucial for donald trump as he begins to launch paid advertising and run ads in battleground states. Steve bannon has produced a number of documentaries, working with peter schweizer, the author of the clinton cash book. I believe his background will be beneficial to the campaign, as they start to focus more on advertising. Charles right, and to that note, theyre going to launch ads beginning friday. Florida, ohio, North Carolina and pennsylvania and wrap them up. Gabby, a pleasure talking with you, appreciate it. Thanks so much, charles. Hillary clinton set the talk of economic plan up in ohio. Youre looking at it there. The email issue is not going away despite efforts to pivot away, dodge and focus on the economy. State department is going to release clintons emails to Judicial Watch. I spoke with the groups attorney last hour. You know last week we received emails from houma abedin her closest personal aide, those are emails that Hillary Clinton didnt return. We saw communications between houma abedin and doug band at Clinton Foundation. See a lot more emails about Clinton Foundation donors getting special access to the state department. Charles to democratic strategist doug schoen on this issue. Doug, we know shes got major issues. The big albatross around her neck and ankle holding her back is trustworthiness, that doesnt go away and this stuff is not going to help . Again, charles, she has about a sevenpoint lead, bigger lead in the swing states. If youre saying the email scandal has plagued her campaign, i would love to run a campaign myself where i was similarly afflicted. Unless theres a smoking gun in the emails which i guess could happen, there will be a lot of them, but unless and until that happens, shes come through the first phase of the most difficult part of the email scandal with the fbi and the Justice Department just fine. Charles on that note, though, doug, Hillary Clinton has been around for a very long time. Shes riding the coattails of a popular president whose own poll numbers have been rising and yet rarely gets above 50 , and people believe its because of the trustworthiness issue and when people have to pull a lever, that can be an umbrella over everything, just like temperament with the wheel house, economy, terrorism, so can it hurt Hillary Clinton in other areas . Youre making a good argument, charles. Why . The secretary of state is in the lead. Her poll numbers are undeniably bad, Donald Trumps are worse. People dont think he has the right temperament to be president and dont think hes qualified to be president. If you are not qualified and dont have the right temperament, it doesnt matter how bad the opponent is, as long as the opponent is better regarded which the secretary of state is. Charles to that note, weve seen donald trump in the last 48 hours with measured tone. Kellyanne conway who everybody applauds as a smart add. A dear friend of mine. Charles they have time to change the narrative with respect to his temperament, dont they . I have no questions about kellyanne, my questions are can donald trump pivot and stick with the message . Can he raise the money for tv ads . Shes been hes been outspent 100 million to zero until now in the swing states. And can he focus on what you point out are the weaknesses of the former secretary of state in a way that drives the message. All of those, charles, very big, very much unanswered questions. Charles well, those commercials start rolling out on friday. Maybe well get more answers. Well see. Charles doug, youre one of the best. Thank you. New debate over obamacare after aetna pulled out of both health care exchanges. Now senator Bernie Sanders is saying that this retreat is actually proof we need more regulation in the Public Health care option but would that lead to more problems . To Jillian Melchior and democratic strategist lauren on the fallout here. Lauren, start with you. This is bad news. I mean, just really awful. Youve got over 700 counties in this country with only one provider. Listen, bernie is only half right on that. I dont agree this is a regulation issue. I do agree this is part of the fallout of their not being a public option. The problem is without the public option, you do wind up with more lower income americans who are often have more Serious Health care issues in these private plans, and theres not enough of a pool because theyre separated state by state for it to sustain the model. This is why, you know, there are two big problems that have happened with the aca which have to be fixed, not repealed but fixed. One is many of the states rejected the medicaid money that would have actually offset the issue, because you would have had more of the poor, lower and middleincome americans in medicaid in a public option instead of being supported by private Companies Like aetna. Many republicans rejected that. Its a big mistake financially, that has to be fixed. And the lack of public option is going to continue to erode private companies. The other peace is price regulation, we dont have any of. That the burden is enormous. Most people on the right wouldnt agree with me on that, were seeing the results of the two choices in the aca. Is that your assessment on this . The postmortem . No, what i think were seeing is the government did a terrible job of predicting the market. They didnt understand who was going to sign up, what the cost to insurers was going to be, that means the answer should not be more government intervention. 2013, fastforward to last year it was 287. More than 100 people dropping out. The insurers are hiking premiums, many by double digits, consumers are left paying more and having fewer options. The answer to this is not just to streamline them and push them in more of a Big Government system. They have the option. No, they absolutely do not have the option. 15 million americans had no Health Insurance before the aca, there are no questions that have to be addressed. Are we going to go to the extreme measures and say get rid of all government . Charles wait a minute. More regulation. Or nothing at all. If theres a difference between regulation and offering a solution to the problem that only government can solve. In this case, unfortunately, we had 40 years of a private sector Insurance Program which left tens of millions of people out of work. I think its for families who have coverage for Sick Children who cant get coverage. Charles people who can no longer afford the deductibles . What about businesses that cant grow . There are serious economic damages, and people warned by the way about the damages. Keep in mind, that some of the compromises that wound up, that left us with the state exchanges were because republicans refused to allow to have any kind of public option which would have mitigated they rejected normally dont buy the compromise argument. Rejected free money in order to expand medicaid to offset the problem. Charles initially by free money that would have run out meaning they would have taxed the system. Let them take the bait. Im not here to defend every part of the aca. The question is what other solutions do we have in a system where private Health Insurers have no financial incentive to cover people who are ill, who cant get insurance on the other way. Charles jillian, would knocking down state barriers help . Create competition and doesnt competition drive prices lower . Absolutely does. Thats one thing we should look at out of many. If were looking at whats happening right now, its the governments failing to predict, failing to come up with a system that operated like they said it was going to be. The answer is not more government. Medicaid and medicare are the examples that work in total counteropposite of what you just said. We are capable of a country running some governmentrelated health care you can throw out va for that, too. Absolutely. Charles change that the subject real quick. On Hillary Clintons tax plan versus Donald Trumps tax plan. Almost the same core argument, right . Big government, nanny state, well take care of you, we dont think we live in a country where you pull yourself up by the bootstraps. I know you love that talking point. Its not true. You have huge number, unprecedented number of republican economists, conservative economists who say that the trump economic plan is a disaster. Well add trillions to the deficits, the opposite of republican principles on the economy. And the Hillary Campaign is not creating a nanny state saying we need to invest in things like infrastructure which dont get done any other way except through government. Charles mark dandy, hes more of a republican but worked with the last candidate. Lower taxes, fewer regulations, unleashing the potential of the economy or higher taxes, thats what it kind of boils down to . With trump it is more complicated. In the first debate was all about universal health care, when hillary says i would stimulus, he doubled that stimulus. He may be promising a lot. Hes saying were going to cut taxes while spending more, on and on and on, contradictory things, im not convinced thats a coherent plan. Charles the bottom line is lower taxes, lower regulations, i think will help, but to your point, i think either candidate will see more deficits, and debt, that used to be a critical topic. Not now but will be again. 19 trillion and counting, thanks, ladies, appreciate it. The fed is sparking concerns on wall street. Weve got that for you, but are fed rate hikes, are the fears overblown . Were going to discuss that next. Charles markets down today in part because investors are worried about a rate hike coming up real soon. Were getting close to new clues, well get it from the fed at 2 00 p. M. Eastern. First market watcher, bob, we had one rate hike in december, we kicked off this year with a horrendous start. Why do they have such an impact on stock market rallies . Well, lets take a look. Right now were having a rally that seems bulletproof to be honest. We didnt really have a rally going to the last rate hike, so im not sure theyre exactly comparable. But Interest Rate hikes are a big deal. People think thats whats going to be going the future. If you do one rate hike followed by more and more. I dont think theyre going to do it because it does have a big impact on the stock market and will have a big impact but the market has been bulletproof for the last month. Bad news hasnt affected it. Charles there was a period the fed properly articulated a fed rate hike and the market was comfortable with it. It was telegraphed, felt like it was good, and maybe thats the question here because 25 basis points, i dont see how that changes anything, theres not a mad dash for people to refi their homes or anything like that. 25 basis points doesnt change anything. Youre absolutely right, charles. Thats whats funny about the talk. Its been years of talk of a 25basispoint increase, but it did have a big impact in january. I think fundamentally, the markets not that its fragile, because recovery or i should say the economy recently has been fragile, World Economy fragile. Brexit, which has driven the current rally is bad news or certainly isnt good news, its driven the rally. Its a funny market and fragile than it first might appear, and Interest Rate increases have impact, even if what youre saying is true, seemed like the market was willing to take it earlier. Charles you know, bob, a lot of people have problem with Central Banks and people who missed this rally or more or less bears the only reason the stock market is up is Central Banks are accommodative. If we know the bank of japan does buy stocks through etfs, buy equities, our fed doesnt do that but have enabled to buy back billions of dollars worth. How much of a percentage of the success of the rally which you put Central Banks or how much of it was perhaps we were oversold going back to 2009 . Im going to say most of it due to Central Banks. I think thats whats driven this market. It may seem like now because weve had the post brexit bump of 6, 7 , were free of central bank stimulus. All around the world there is central bank stimulus, its easy for us to do more and obviously keeping Interest Rates low. Its not helping the economy as much. Japanese stock market is up over the last few years, but japanese economy is completely flat. No, stock market is up very much because of central bank intervention. Thats muview. Charles thank you very much, appreciate it. Sure, charles. Donald trump has a fix for inner cities. Were going to talk about it with the details, here next. Charles businesses in milwaukee reeling from unrest. Donald trump visited milwaukee to declare the war on police is really a war on the poor. The war on police is a war on all peaceful citizens who want to be able to work and live and send their kids to school in safety. Crime and violence san attack on the poor and will never be accepted in a trump administration. Hillary clintonbacked policies are responsible for the problems in the inner cities today, and a vote for her is a vote for another generation of poverty, high crime and lost opportunities. Charles to Cleveland Police patrolmans association detective, if handcuffing the the police will make things worse, steve, thank you for joining us. Weve watched this over and over again, seen it play out, going back to the 60s and i think watts is a great case study. A lot of businesses left and never returned to the area. How do you find that perfect relationship or much better relationship where you can actually have more policing in a community that understands the necessity of it . Well, the answers remarkably simple to that. We need enough Police Officers on the street to do the job properly. Very recently in the city of cleveland during the rnc, we were able to prove that undoubtedly, when you have enough Police Officers to do the job, the job gets done and gets done in a very efficient and very safe manner. Right now w skeleton crews in cleveland and other cities, and i imagine milwaukee is the same way. Charles yeah, and also in milwaukee, weve seen this economic backdrop which is awful. In fact, the average black Household Income versus the average white Household Income is the second largest gap in america. Only minneapolis is larger than that. 17 unemployment versus 4. 3 unemployment. How much does that contribute to whats been becoming a ticking time bomb across america . When you move somewhere for example, the number one and two questions are how safe is the city and how good are the schools . Or how good are the schools, how safe is the city . Youre not going to have people come into the neighborhoods and invest if theres a crime problem, it stems around the safety first, and that goes back to the priorities of the politicians locally. State levels and national levels. And the priority is not there right now. Law and order is not the priority of president obama or anybody else that i can see anywhere at this point. And thats a shame because its a really simple solution to a very, very complex problem. Charles steve, having a Greater Police force or a Greater Police presence, is there a way to do that in a way thats not intimidating. Doesnt feel like an occupation, if you until. Sure, absolutely. You know, again, going back to our success in the rnc, you saw Police Officers running through water fountains with the kids. You know, there was a lot of Police Officers out there and they werent there in an intimidating fashion, there are the activists, the anarchists who say this is a police state. Make up my mind for me . Do you want it to be a safe state . Weve offered solutions in cleveland, put office in schools so Police Officers can go into the school and do common paperwork so the kids have a chance to interact with them in a nonconfrontational way, you know . Charles right. And you know that got shot down. How does that get shot down . There are simple solutions, just not willing to pull the trigger on them and thats a shape. We need more Police Officers. We need help. Bill clintons administration, we had all kinds of federal programs in the city of cleveland and elsewhere in the country, rap houses, bicycle patrols, foot patrols, we had 100 people in a policing unit. 2003, 2006 we had 1500, you cant get rid of 500 Police Officers and then ask the question, whats going on here . Charles and ultimately the people in the community and the police all want the same thing. They want peace and harmony. Absolutely. These guys and gals out here in the trenches in the police department, they would love Nothing Better than to drive around in a sports car all day long. [laughter] wave at the kids, play with the kidsnd not have one radio assignment to attend to. Thats the goal in life. Charles steve, i just want to say thanks for all your service and being a voice. Sometime, you know, i know its critical and you put yourself in a position where you get a lot of pushback, we need to hear that and i appreciate you taking out the time. Thank you very much for having me, sir. Hillary clinton is in ohio, taking the stage, and its expected shes going to attack Donald Trumps tax plan. Next, a trump economic adviser saying her attack is filled with lies. Believe it or not. Hes going to explain next. Theres something out there. That can be serious, even fatal to infants. Its whooping cough, and people can spread it without knowing it. Understand the danger your new grandchild faces. Talk to your doctor or pharmacist about a whooping cough vaccination today. Charles Hillary Clinton in ohio right now, shes on stage presenting her latest all out attack on Donald Trumps tax plan even though it could result for a 4 billiondollar tax break for trumps own family. Reaction from trump economic adviser, david. You know, shes saying, david, that sure donald trump is giving a few crumbs to the middle class, perhaps up to 2,000. But if you look at what him and his friends are getting from his tax plan, it could be billions of dollars. Right. And thats a complete miss characterization of the plan. Trump wants to lower taxes for everyone, especially businesses. She wants to raise taxes on small businesses. Shes got a 4 surcharge on her plan, so trump is trying to have more growth within the economy. Shes been in office, her plan has been in operation now for eight years and the Median Income is going down. So trumps program is set up specifically to set up the middle class. To start causing real Median Income to go up. Shes supposedly, you know, misleading people. So the benefit are going to be in more jobs, higher wages for the middle class. Charles its one thing to say, hey, youll be able to keep more of your paycheck. How does that create more jobs . Yeah. So businesses create jobs by making some profit. And if they have to give halfback to give the as she would have them do. Nearly 50 marginal rate for small businesses. That means they hire less workers. Its a direct effect. And we all of economics is filled with the idea that tax rates matter in terms of hiring. So she would have the private sector not hire people. Trump wants them to hire people. Charles do you think essentially its not really even truly an economic plan with respect to Hillary Clinton but more about appear ideology that on one hand you have one party and one candidate that says this is not necessarily the country, nor has it ever really been the country where you can elevate yourself. Upward mobility is an american myth and the government should make sure that they step in and make sure that they can get the spoils of those great country from that 1 and redistribute it. Right. And you saw that play out in the democratic primary where Bernie Sanders was explicit about socialism that we want the government to take care of the people. And we know from history that that doesnt work. Countries that practice that do worse than countries that allow the freedom of the marketplace, the private sector to actually cause growth in jobs. So i think youre exactly right that at the core of what the democrats are saying is that they want the private sector to be controlled and smaller so that the government can be bigger. Thats just going to crush inner cities. Weve seen it operating in the blue state. The democratic states where theres where theres a mayor thats a long time democratic mayorship. Those cities have been getting just crushed by mismanagement. And trump can actually have an impact on that and said as he did very well in the speech last night that we can change this and move forward. Charles right. And the only thing ill say is we know historically what works economically but also historically whats been working in this country of politics of envy. So you guys have your work cut out for you. Got to do it. Charles thanks a lot. Really appreciate it. Thank you. Charles nsa secrets could be out there. Why kennedy says we better look out. Well be right back hey hows it going, hotcakes . Hotcakes. This place has hotcakes. So why arent they selling like hotcakes . With comcast Business Internet and wifi pro, they could be. Just add a customized message to your wifi pro splash page and youll reach your customers where their eyes are already on their devices. Order up. Its more than just wifi, it can help grow your business. You dont see that every day. Introducing wifi pro, wifi that helps grow your business. Comcast business. Built for business. Im adam shapiro live on the floor of the New York Stock Exchange with this fox business brief. Take a look at whats happening with the price of oil, especially after rioters report saying that saudi arabia saying it could hit new output record in expectation of the meeting theyre going to have with opec and nonopec nation to address the Worldwide Oil glut and use the output they would have as leverage to convince everybody they need to cut back on Oil Production to get the price of oil much higher. So thats whats going on with oil right now. Also take a look at cisco. Shares of cisco are trading down slightly. Roughly about 1 . This is in anticipation of the support after the bell now. Of course there was the fact that cisco according to crn, the tech news site displayed to lay off what 14,000 people. 20 of its Global Workforce of 70,000. Were going to have the earnings for you after the bell right here on the fox business network. Back to cavuto coast to coast nt charles well, look at this, guys. The stock market has turned up ahead of the fed come out in less than 20 minutes. Thats a big move. Right now Hillary Clinton talking about the economy in ohio. She just promised Free Community college, again. Lets listen in for a moment. Create at least 10 million new jobs in the first term of my administration. [applause] by contrast, if you look at what trump is proposing and how he wants to give huge tax breaks to people who are wealthy like him, it would cost our economy 3. 4 million jobs. Now, this is not me saying it. This is an independent analysis saying it that has tried to look at both of us very objectively. But what does that mean for ohio . If we divide across the country by population, ohio would gain 376,000 jobs under my plan and lose more than 123,000 jobs under Donald Trumps plans. [applause] and its hard its not hard to see why. Because he wants to give tax cuts to big corporations, millionaires, wall street money managers, hes even created a new tax loophole that we call the trump loophole. Because its really good for trump. It would let millionaires and billionaires cut their tax rate in half on a lot of their income. Under his plan, donald trump would pay a lower tax rate than middle class families. Of course we have no idea what tax rate he pays because unlike everybody else whos run for president in the last four or five decades, he refuses to release his tax returns, so the American People cant really judge. [applause] and then theres the estate tax, which he wants to eliminate all together. So if you believe donald trump is as wealthy as he claims, we cant say that for sure. But lets assume it. He would by eliminating the estate taxave the trump family 4 billion. And do absolutely nothing for 99. 8 of all americans. Now, think of what we can do with 4 billion in ohio. We could build 280 new elementary schools. We could eliminate the outstanding student loan of 166,000 ohioans. We could provide health care to 370,000 veterans. [applause] and we could sure rebuild every crumbling bridge in this state, and fix a lot of the highways that are causing folks to incur expenses. Charles thats Hillary Clinton laying it on thick going after donald trump and his tax plan here with reaction, kennedy. Kennedy, shes laying it on real thick there, huh . Oh, she absolutely is. And its really offensive. Its not how government works, and she essentially sounds like she wants donald trump to die. So the federal government can reach in and grab all of that money and somehow they would magically with great focus disburse it and redistribute it in ohio for these various infrastructure and social engineering projects. Thats not how government works. Shes been in government way too long. She should know that. She should know that the bureaucracies are crumbling more vastly than the bridges that she talks about with these infrastructure plans. And it is so offensive because as we know, the estate tax, it doesnt just hurt rich people. But when you do hurt rich people, when you keep taxing them, boy, do you lock up the capital that they could invest in small businesses, and she despises wealth. Shes for a 15 federal minimum wage. So everyone can make the same exact amount of money for the rest of their lives and live very ordinary lives under her heavy handed government plans. Charles theres no doubt about that. But the politics in general forgetting about the economics of it have been successful the last two elections. Yes. They have. And, unfortunately, its because she speaks with a certain vagueness that people in both parties often do. And, you know, they say my plan will magically create so many million jobs. My opponents plan will cost so many million jobs. And, you know, she doesnt cite exact sources. She just says that they are bipartisan, that theyre not vested in various charles and sometimes she talks about the mark dasani thing because he is a democrat, but he did do some work for mitt romney. Let me ask you, kennedy, do you think going beyond the two politicians here and their plans that the American Public, that the American People are starting to lose a little bit of faith in the notion of capitollism being the true answer . Theyre losing faith i think in institutions in general. And thats because they have not seen a boost in wages, which still remains stagnant. Although this administration continues to tell us how glorious the economic picture is, even the jobs picture. Even though we know the gdp for the year is at about 1 . The economy is just not growing. So people look at the numbers on wall street, and we talked about this. Is it because the fed is keeping Interest Rates artificially low . Or are they doing it to not upset the markets and not upset the dow . And if you see corporations earning billions in profits and theyre not he didnt a thing, it can be frustrating. I argue that it is because of overregulation and too much government that this economy is hamstrung. Charles well, it is hamstrung and american the American Public is going to have a choice come november. Yeah. Charles thank you very much, kennedy. Thank you, charles. Charles in minutes, were going to find out what the fed think so about this economy because theyre going to unveil their minutes. In the meantime, the market shaking off a massive decline at the open in anticipation maybe the fed to kennedys grin will be a little bit more accommodative. Well be right back announcer vo you can go straight home. howard stern on radio welcome to show business. announcer vo or you can hear the rest of howard. Bababooey announcer vo sorry, confused neighbors, howards on. Siriusxm. Road happy. announcer vo you can commute. man on radio . 40 no flags on the play cheering announcer vo or you can chest bump. Yo commute, we got serious game. Siriusxm. Road happy. Approaching medicare eligibility . 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And a lot of people watching arent fans of edward, but what you can say is because he was able to access so many documents, he exposed flaws in the nsa system comes from 2013 around the time that the leaks occurred. So you have someone that was able to access that code, which snowden wasnt, but the code is what allowed the nsa to hack into Foreign Governments. So now its saying its a roadmap showing exactly what the nsa was doing. But it might be outdated and theres a chance the nsa of course isnt going to say it. But that thehave beefed up their own firewalls and security and changed protocols so much. Charles that is worrisome when the nsa were also hearing about this fed meeting. And youre obviously not a fan of the Federal Reserve. You know, but im not even sure what kind of impact to have any almost anything. I feel like its an agency that Central Banks around the world. Theyre not helping economies anymore. No. Theyre not. And we can actually see the failure of central banking certainly in this country. And the fed and the and wall street as we were talking about are to each other, and i s talking with our colleague peter barns yesterday who interviewed the president of the new york fed yesterday as well. And its tough to figure out whos wagging who. Which part of the dog is actually working in concert with itself. And is the fed more tied to the election . And not affecting the outcome of that . Or is it about wall street . God forbid we have actual rates that are not manipulate m. Charles can we live without the fed in your opinion . I think we could. John wrote a book who needs the fed . Ive talked about it on your show before. And its an important look at the fed failures but also who is going to take up slack . Is it the Treasury Department . Is it congress . But i think we need to if nothing else, the fed has to be audit, which senator rand paul is a proponent of i i. Charles real quick we talked about fed with respect to capitalism. Can the American Public take a hit . In other words, everyone says we pumped out all of this money to save the banking industry. Would it be good from time to time if we took the hit that was due to us. Yeah. And i think we should have listened to economists in 2008 who said theres no such thing as too big to fail and let some of these other huge guys to fold over because what weve seen aside from tarp would have been their own leveling out process and maybe you dont need this much government intervention. Charles im with you. Sometimes you have to take the pain, you have to take. Sooner or later. Take the pain, charles. Charles hey, thats the name of a show. In the meantime investors are waiting to hear from the fed. Well be right back after a short break. Charles investors waiting for the fed to explain what theyre going to do with respect to Interest Rates. Their minutes coming out in just seconds. Everyone is on pins and needles. It is really very important to see whether or not the fed may actually hike rates particularly before the election. What they believe is the truly the state of our economist. Many people right now dont think fed will hike rates. However we had that interview with dudley by our own peter barnes. That changed entire equation. I will talk about this a lot more on making money at 6 00. Trish regan will take you through. Trish yes. Were 60 seconds away from the release of the fed pins where we see what they actually think. Im trish regan. Welcome, everyone, to the intelligence report. We briefly crossed into positive territory all for a second. Fed left rates unchanged at its last meeting but in parts because of peter barness interview he did just yesterday, with bill dudley, one of the Federal Reserve positive governors, people wondering whether the fed might move as early as september. Theyre looking for any clue that would add to that thinking. People are certainly on edge. Nobody wants them to move higher with rates in september. That is in part why youre seeing downside in the market. They have to do it at some point. They keep promising and promising and problem is promising. Peter barnes has them. Lets go to peter. Reporter trish, wait on data, especially inflation data. Thats the message from the minutes from the july fed fomc meeting. Let me read from some of the text here. Quote, many participants judged that it was appropriate to wait for Additional Information that would allow them to evaluate the underlying momentum in Economic Activity and the labor market and whether inflation was continuing to rise gradually to the feds 2 target as expected but several participants, some participants, rather, concluded that the committee should wait to take another step in increasing rates until the data on Economic Activity provided a