So markets selling off big today maybe because well not see another rate cut in my lifetime. Well see. Oil prices surging, gold surging, commodity indexes surging. We have senator kevin cramer. We have our own taylor riggs, most importantly, and we also have steve moore. If all that werent enough they will weigh in on this whole story and joe bidens ev farce. Well come back to that later. Plus we have a great day for donald trump. He posted his 175 milliondollar bond in new york, planning a huge grassroots fundraiser, maybe Madison Square garden, maybe yankee stadium, maybe both, who knows. A bad day for joe biden, losing support among young voters, minorities and suburban women according to recent polls. We have Kellyanne Conway for that. The great mark levin asking why biden is stopping israel from dealing with iran and specialops veteran aaron cohen will weigh in. Batya ungarsargon and alec lace why biden is the real threat to our democracy this november. First a quick update on the stock market from our expert gerri willis. Gerri, there were no bears. Now maybe there are a couple. Yes, now we have a few bears. It was a selloff for stocks the second day in a row as markets weighed the outlook for a fed rate cut. The bond yields climbed. The dow down 395 points, the s p down 37. As you can see the nasdaq down 156. Big tech and health care leading the way lower it was an economic report issued yesterday that led to todays selloff, a survey of purchasing managers. The ism Manufacturing Index came in hotter than expected, indicating a more robust economy than traders had thought, dashing expectations for early and frequent rate cuts. The futures market now pricing in a 59 chance for a rate cut in june. That is down. Bond yields jumped. The 10year treasury yield topping 4. 4 , while the twoyear soared above 4. 7 . Crude oil cracking 85 a barrel to hit the highest levels since october. If youre looking for good news, shares of trumps Media Company djt rising 6 after a selloff yesterday. Larry. How about that, gerri willis, thank you ever so much we appreciate it. For more on this we bring in our big money cohost taylor riggs, steve moore, host of moore money on abc radio and north dakota kevin cramer a long time stock market expert. Thanks to all of you for coming back on, we appreciate it. Let me talk to the person in the build hog probably understands the market best, and that is the great taylor riggs. Taylor, by the way i dont think well have a rate cut this year. Thats just my view but i think the markets are still pricing it wrong but what is interesting open market rates, the bond is up, the 10year is up to 4. 40 thats a lot. Then youve got commodities booming, crb, gold booming, oil, west texas 85 but brent almost 90 bucks. So youve got inflationary signs flirting around. What do i make of it . A decent economy as well. I love the report from gerri when she talks about the cross asset, yield story. When you have a equity market selloff you think flight to quality, flight to safe havens, buy treasurys, bond yields fall. Today was the exact opposite. Yields are rising because it is all about those rate cuts or maybe not rate cuts like weve been talking about. So the feds Loretta Mester came out said a huge risk is cutting rates too soon because it could restoke or restoke some of those big inflationary measures that are underway you hinted at. I still think inflation is a big issue. Larry kevin warsh said it rather well on the show last week, too much fed yapping. Ah. Larry do we need ms. Mester, to tell us a, what the futures market is saying . The futures market has been wrong the last 600 years on this subject and others. It is what it is. B, we dont want to acts too soon, but c, there is three really was there any value added what she said . She said it on cnbc today, wherever she said it, really . Jay powell was asked this question on friday and the markets were closed. Are you too transparent . And he said i dont think so. They like coming out and doing all these talks but i think youre right, sometimes it can be confusing. I will say what is good about this fed speak the markets came into this year asking, begging for six rate cuts and at least now finally theyre looking at 2 1 2 rate cuts. So theyre getting more in line with what the larry i never seen half a rate cut. What is half a rate cut . You have to help me on that. Kevin cramer you may not know what half a rate cut is, you know something about oil coming up from north dakota. I do. Larry were seeing a pretty big rally, the best since december i think, even further back, october. West texas, yes. Brent crude, yes. What do you make of that . Whats going on here . Well, whats happening, really, it gets to the point of whats making this inflation so sticky. Energy prices, High Energy Prices will add to the inflation of everything we grow, produce, manufacture, move from one place to another place whether youre receiving it or whether youre sending it to another market and whats happening is this is the direct result of bad public policy. The Federal Reserve cannot fix bad energy policy. So youre see agroing demand around the world. Youre seeing a shrinking supply. Even though the United States by the way, as you probably noticed had a record production month but larry at that, it is still probably two, three, four million below what it should be or what it could be which would bring prices down by increasing the supply, meeting Global Market demand but that into everybody should have a fleck trick vehicle in their garage routine that this administration is stuck with t will always be confusing as long as this guy is the president. Larry steve moore, do you have a electric vehicle in your garage . [laughter]. I am going to have to get one to have a tow truck to take away our gas cars under these policies. By the way kevin cramer is one of my favorite senators. An honor to be on with you, senator. Look i just dont see any signs of falling inflation right now, larry. You went through, gold prices up. Oil prices up. Commodity prices are up. Bitcoin is up. All of the alternatives to the dollar are showing rises in value. So, i just do not see a case for falling inflation. I wish i did but i think were looking at four to 5 inflation now at least for the rest of the year and that may be too low. My gosh, look what happened to the crb index in the last 24 hours. It went up substantially. When you have higher commodity prices, kevin cramer is right, that means thats going to filter right into consumer prices. Somebody show me the case for lower inflation . Where is it, larry . Larry the question is going to be gentlemen, i will stay with you just for a moment, then come back to taylor, senator cramer, for example, i would argue with the Oil Prices Going up and commodity going up and Interest Rates going up, et cetera, et cetera, my rate cutting by the fed will be perceived as a deliberate effort, intent to juice the economy. Thats right. Larry to elect, reelect joe biden and kevin cramer i think that would redown, that kind of thinking, or that kind of charge or even that kind of appearance, senator cramer, would really be very damaging to the Federal Reserve and thats the reason why they really shouldnt do it unless theres a clearcut case to lower rates which there isnt as steve moore weve all agreed there is no clearcut case. So senator cramer, the fed would be digging its own grave here if they start moving . The feds objectivity is already under some scrutiny for good reasons. There has been a lot of questions about just you know, how independent the fed really is. Remember, fed chairman are always little different before theyre reappointed than after reappointed. All in all jay powell has done a pretty good job creating this soft landing. I just think he will come up short. Youre exactly right the worst outcome for Federal Reserve to be perceived, perception can become reality as tilting the scales one side or the other in the next election. That is additional factor for their consideration. Larry taylor, two questions, important questions i think, one is, i had an instinct today when i looked at the computer screen that these commodity runs might have had something to do with the tragedy of the baltimore bridge and the freighter but again the trend line started way before that. So i dont think that explains it. And, the other thing is, the yield curve is still inverted. I mean the fed funds rate and the tbill rate, i will call it 5 1 2 more or less, 5. 25, five 1 2, and the 10year is at 4. 40, gee whiz, that is a long time for a yield curve inversion. Is that any meaning at all . Youre getting me excited talking about the yield curve, larry. Larry i love that. I will say the inverted yield curve as you know from the Federal Reserve is something that they use not as a, as a sign that there is a recession but for of a predictor but you know it works more as a lag. It inverts, typically, 12, 16, 18 months later there is sign that there is recession. You can get a recession because the fed has been too late in cutting rates. Thats why it is inverted. I dont know, i hear from Market Participants that the twos, tens inversion becomes less and less helpful the longer we go on. I think there are structural issues with this economy that are different, the reason the traditional signal is not working. Larry i always prefer the threemonth bill to the 10, whatever. You sound like jay powell. Larry well that is the new york fed model, which by the way worked for about 50 or 60 years but it hasnt worked this time. But the other thing is, hotlanta feds gdp tracker model is up to 2. 8 for the first quarter. You know, thats almost 3 . Thats not nothing. I mean it sure aint a recession. Loretta messter repeated that today. This economy is being revised a little bit higher. This defies all the logic from all the economists out there that the economy is healthier than we thought are maybe in part thanks to a consumer that isnt pulling back yet, despite all the inflationary forces. Larry steve more, i know youre a big fan of the evs, ev chargers. Joe biden inject ad fortune into these ev chargers supposedly in the misnamed Inflation Reduction Act or whatever it was called. Right. So my question to you, where are all these ev chargers . Yeah. I think they have built a couple dozen of them with several billion dollars. Larry a couple dozen. This is the question everybody in washington, what happened to all the money . Where are all the ev chargers. You joke with me whether i bought my ev yet. It is very, the fascinating thing going on in the Auto Industry right now is nobody is buying evs, despite the fact theyre showering this industry with money and theyre showering they say you have to buy these things. It is almost the more that biden pushes them on consumers the more people are saying give me my oldfashioned gas car. It is pretti amazing we have oil demand around the world as high as its ever been at a time when all biden has been talking about for the last three years weve got to stop you know, fossil fuel use. One other point, weve had this whole discussion on this show and some shows about you know, whether the fed will raise Interest Rates or not. The single most important thing that washington can do right now to help this economy, i want senator cramer to listen to this because i know he is on my side on this, cut government spending. Cut government spending. Larry that is way too easy. That is way too easy. I thought you had a more creative solution. Senator cramer, steve moore, i think biden is now, each charger has a billion dollars, cost us a billion dollars. He put in 12 billion and only got 12 chargers. Senator cramer the model is broken. The ev model is broken. It is very broken. Larry i will give you the last word because you were patient on the stock market. This has been great by the way. I would rather do this than just about anything. The model is broken because even with big subsidies only rich people can buy an electric vehicle. That is not very many people. They dont work with a hoot in places like north dakota. We dont have a grid that can energize them. We dont have enough transmission. We dont have enough generation. Were closing all the efficient power mans in the country. This is so upside down, screwed up, donald trump cant get in the white house fast enough. Larry the whole story is bass awkward if you know what i mean. The great taylor riggs, catch taylor with her cohost Brian Brenberg and Jackie Deangelis on the big money show weekdays 1 00 p. M. Eastern right here on fox business. All right, folks, coming up big wins for former President Donald Trump today. He posted his 175 million and Letitia James aint going to get her hands on any of his cash or businesses or assets so there you go. Deal with it, madam ag. Well talk about it with Kellyanne Conway and a few others. Im kudlow. It is nice to be back. Welcome to ameriprise. Im sam morrison. My brother max recommended you. So, my best friend sophie says youve been a huge help. At ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. Our neighbors, the garcias, love working with you. Because the advice we give is personalized, hey, john reese, jr. Hows your father doing . To help reach your goals with confidence. My sisters told me so much about you. Thats why its more than advice worth listening to. Its advice worth talking about. Ameriprise financial. Everybody wants super straight, super white teeth. They want that Hollywood White smile. New sensodyne clinical white provides 2 shades whiter teeth and 24 7 sensitivity protection. I think its a great product. Its going to help a lot of patients. Salonpas lidocaine flex. A super thin, flexible patch with maximum otc strength lidocaine that contours to the body to relieve pain right where it hurts. And did we mention, it really, really sticks . Salonpas, its good medicine. Larry former President Donald Trump had some very big wins today. Our own lydia hu has some of the details. What you got . Reporter hey there, larry. The former president posted his 175 milliondollar bond in his new york civil fraud case. That means his assets will not be protected from seizure by the new York Attorney general while his appeal moves forward. He is challenging the underlying decision by judge engoron that found him of fraud. Trump posted this on truth social. I posted a 175 milliondollar bond with these sadly failing and very troubled state of new york based on a corrupt judge and attorney general who used a statute that was never used for this before. That 175 milliondollar bond is less than half of the 454 million that was originally required and reduced been an Appellate Court last week. Knight Insurance Group is underwriting the bond. I spoke with the chairman of the insurance company. He says he reached out to trumps team to offer help, adding he would offer that bond to anyone but he is happen his business is serving the former president. Watch here. For us its easy to do. Its what we do. We want opportunity to expand our business and we feel that the cost justifies it. I wish the politics were not involved with this but i had a chan to weigh the pros and the cons and you think im doing the right thing. Reporter he also told me that mr. Trump secured the bond with cash. If trump does not win his appeal, he will be forced to pay the full amount of the judgment, nearly half a billion dollars. The Appellate Court wants oral arguments in september. Lawyers tell me a decision could come as soon as four to six weeks after that. Larry around the time of the president ial election. Well watch out for that, larry. Larry lydia hu, thank you. I dont believe it but thank you ever so much, we appreciate it. A couple additional thoughts from me on all of this. Donald trump posted his 15 milliondollar bond. Letitia james not going to take all of his cash, his assets or his businesses. That is my forecast. Mr. Trump had two big wins in the new york appeals court. The appeals judges knocked down the bond from 454 mil to 175. Trump then posted it. Make it three wins because of the successful trump media Stock Offering which i still believe shows great support for the former president throughout the country. It was retail investors, not the big boys on wall street, that bought his Stock Offering. But step back for a moment and look at the big, big picture. Just a reminder, mr. Trump is putting together a new coalition based on typical working folks and their families who want a pay raise, not a pay cut. Who want to close the border, not open it up to a wave of biden illegal crime. Who want a return to law and order and the support of the police. Who appreciate mr. Trumps first term tax cuts and deregulation that contrary to bidens constant untruths by far benefited middle and lower income workers the most. These folks work hard, play by the rules. They reject the woke culture. Are tired of washington bureaucrats telling them how to live, what cars they should drive, what stove they can cook on, what kind of shower heads, et cetera, et cetera. They favor drill, baby, drill, because they know turning the fossil fuel spigots back on will reduce prices and increase their takehome pay. Over half the voters say they are worse off compared to 2020 and that includes young people as well as minority voters. They are sick and tired of biden weaknesses, and americas declining world standing. You can bet mr. Trump will put an end to the unfair trading practices by china and others as he defends his America First economy. Just today in michigan mr. Trump talked about garnering support from suburban women who want to see a law and order response to bidens crime wave, a crime wave the democrats continue to ignore while forcing trump to pay hundreds of millions of dollars. Take a listen to what he said. Im the only one that has to put up a bond, you know. I put up a bond. I didnt do any