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this is your well red world. a lot of major averages down on the prospect that we re looking at higher rates down the road. we got our third 3/4 hike in a row with signs that year s end, rates could be a point to a point 1/4 higher than they are right now. we re north of 4%. some wondering if that is enough to deal with inflation that is double that. let s get the read on what happens today and why. jackie deangelis. jackie? good afternoon. this is the fed s fifth rate increase this year. it s the fourth increase in a row. as you pointed out, the third time the market is seeing 3/4 percentage point. the market was trading higher most of the session before the decision indicating they were expecting a 75 basis point hike rather than the full point percentage point that a small group of market watchers thought was possible. then when the news broke about the hike, the fed hikes rates trying to tame persistently high inflation, the economy will slow. consumers and corpor ....
though is the championing progress being made not only on the economic front but numbers that he says are proving that the inflation reduction act is beginning to bear some fruit. there s a great deal of division over whether that is happening. this three-state trip, by the way, three strong blue states that he s going to is an interesting thing to do less than a month before the mi mid- mid-terms. want to keep you up on that and how this is playingout and the strategy of the white house with a little less than four weeks until the general elections. jacqui heinrich at the white house on what this strategy is. what do you think, jacqui? it s hard to say, neil, what exactly the strategy is. the press secretary was asked why the president isn t going to a more contentious state like arizona if he s going on a western swing. why not hit some of those areas where democrats vying for re-electioning are having a tougher job. but this event in colorado is going to be really ....
or five years ago. the word that she relayed to the president called the vice president, a apologized for being impolite. do you remember what the president called him? the p word. mr. jacob, how do you describe the demeanor of the vice president following that call with the president? when he came back in to the room, i d say he was steely, determined, grim. of course, the most dangerous part of what donald trump did on january 6th was what he did himself. as will be discussed in detail in a future hearing, our investigation found that early drafts of the january 6 elipse speech prepared for the president included no mention of the vice president. the president revised it to include criticism of the vice president and then further ad libbed. here s what the president said january 6 after his call with vice president pence. i hope mike will do the right thing. i hope so. i hope so. because if mike pence does the right thing, we win the election. all vice p ....
shrinking stocks unfortunately in the pensions. peter doocy on the shrinking poll numbers for a president that just found a new villain for all of this and his name is not putin. welcome. i m neil cavuto, this is your world. a very turbulent world. when it comes to the markets, a lot redder world. how much? to jackie deangelis with more. good afternoon. another rough day for the markets, neil. not for the feint of heart. the markets digesting the rate hike that we saw yesterday and jerome powell s comments and deciding more hikes and slower growth means recession is coming if we re not there already. let s talk about wealth destruction for a moment. the numbers are staggering. yes, of course, jeff bezos and elon musk are not as rich as they once were on paper. investors across america in 401(k)s and iras have seen massive wealth destruction, $3 trillion according to the center for retirement research at boston calculation. 401(k) plans have lost $4 trillion sense th ....
And divide we are seeing right now. Shepard kristin fisher, live in washington. The final bell is ringing on wall street. The dow is up in a pretty big way, up 167 points. A your world with neil cavuto starts now. Neil the scene right now the Intercontinental Hotel in New York City where the president s do to address reporters any minute. He thinks hes put this entire issue to rest with the transcript of the infamous phone call with the leader of the ukraine back in july. Democrats are not so sure. We are going to be getting to read from john roberts and the second also bret baier and also senator rick scott. I want to take a peek at the corner of wall and broad because youre probably wondering in the middle of this why were stocks up . They dont think anything will convict. The president will survive it. Wall street is not red or blue. Its just green. They love money ....