i did see it on television. handsome guy. martha: handsome guy. that s the reaction from the current president. never boring, right? that s the story for this friday, august 25. i will see you back here. the story goes on. have a great weekend, everybody. neil: fox on top of consumers. still feeling sticker shot. four in five americans paying more for gas and groceries that they did this time last year. mortgage rates are now higher than they ve been in 22 years. fed chief jerome powell hinting more rate hikes will be needed to bring inflation further down this year. why republican presidential candidates tim scott says he is the guy to fix it. what home depot co-founder ken langone says we need to do to get out of it. we are on all of it.
on a daily basis but on housing, how is that affected? i will tell you. we see credit tighten now because the banks are losing money on the mortgages, they are saying now we ll be much more selective in terms of who will originate a mortgage for. tightening is going on across banking not just for mortgages or housing, but in other lending as well. so that s an issue because that s just going to be another layer on top of stress, financial stress. that s why i think we ll see a recession. rent is still a problem. people say oh, payments every month are too much for me to afford cause of higher interest rates. you go to rent and you get sticker shot. bill: warren buffett said bank issues are not over. no reason to panic. he predicts no depositors will lose money. quite a statement right now. so there is no you get into this question of a moral hazard
but then it comes down to real salaries and real cutting into the bone. that s what we re seeing within a number of sectors right now. layoffs. look at housing. 7.2% mortgage rates over the last week. they are pulling back now 6.9% this morning. seven quarter percent has created demand destruction. i thought my mortgage would be this and now it will cost me many more hundreds of dollars a month. i can t buy the house. i will rent and you get sticker shot rent because of food, fuel and shelter are still elevated, very expensive. we re seeing demand destruction. you had retail earnings out this week. all the big ones. they look good but the problem is it s all about inflation. when you look at higher revenue you have to ask a question is it volume or price increases? largely price increases so inflation. bill: opening bell 2 1/2 minutes away and we ll be down. you keep us up.
saying disney has lost its magic. this is my 40th trip between disneyland and disney world, and by far our worst experience. because of all the app and the, hey, if you want this, you have to pay for this, you want that, pay for that, and the rides are closing constantly. and anyone that s been to disney knows the pain of standing in line for space mountain only to have it break down. disney says it s all about improving customer experience, shortening the lines, having the money to build new rides to compete with other parks and admittedly, universal studios, hollywood, a similar sticker shot but you have to buy your food, mickey ice cream sandwiches, i m buying the ears, these have gone up 33% since last year but i can tell you people have been streaming in all day, but you know, i was just listening to you talk about inflation. critics are saying is the average american getting priced out of their dream vacation? yeah, that s $1,000 a day,
the ballot box. g.o.p. gubernatorial candidate was asked by maria bartiromo her thoughts on the ruling. sxwloo i m pro-life and never backed away from that and never will i. i want to protect lives and i want to help women. we ve got to make sure we re giving women the support they need. i m all for healthcare for women. in the senate race republican blake masters did not spobd to a request for comment. democrat incumbent senator kelly leading in the polls says he will defend abortion access. fox news poll found abortion is a top issue among arizona voters. in-person voting begins in 15 days. dana: we ll watch it. thank you for being in arizona fours. bill: prepare yourself for sticker shot. the new estimate of the cost of president biden s student loan hand-out. you know who pays for that. also as inflation soars possible