absolutely not. [laughter] two and each toe, right? this gets us to 10, and i think all four answers qualify. stuart: ashley is not with us today, so he couldn't go first. lauren: he gave it to me. stuart: i'm going to go with 26, lauren. i'm with you. the answer is 26, thank you very much, indeed. >> good job. stuart: well done. the foot has a total of if 3 joints, and it's -- 33 joints and separated into 3 distinct point, the hind foot, the mid foot and the fore if foot. and you've got 26 bones in all of that lot. lauren: i always put my foot in my mouth. [laughter] i do. stuart: mark, thanks for being with us. "coast to coast" starts in 5 a secs, 3 seconds, it starts -- lauren: no. ♪ ♪ how you feeling? ♪ hot, hot, hot. ♪ how you feeling? ♪ hot, hot, hot. neil: but, you know, this isn't

a good hot, hot, hot. you know i just had to say that, right? especially in light of today's stronger than expected retail inflation report for last month with prices jumping at a 3.5% annual rate versus the 3.4% folks were expecting. and hell apt no fury like a stock trader taken aback by prices not falling back. bottom line, it bottomed out stocks, and they're still bottoming out. top-down interest rates are still topping out with the 10-year in and out of 4.5% which means mortgage rates likely going close to 7.5%. some might call this an overreaction, some might say it's an excuse to sell, some might say it's both. but down is down and higher rates are higher rates especially if they mean the federal reserve not only has to push off rate cuts but, gosh, maybe not cut at all this year? we're going to talk to edward jones' ceo. looking forward to that. first to edward lawrence at the white house on how they are ea acting to all of this --

reacting to all of this right now that is a not going according to what they'd like to see, i'd imagine. what do you think, buddy? >> reporter: exactly, neil. and the president released a a statement today basically saying well, yeah, inflation is high, but it's down from where it was at its peak of 9.1%. he adds the crisis -- prices are too the high for housing and grocery even as a key household items like milk and eggs are lower than a year ago a, i have a plan if to lower costs for housing by building and renovating more than 2 million homes, and i'm calling on corporations including grocery store retailers to use record profits to educe prices, trying -- reduce prices, trying to blame companies for inflation as government spending increases in this year. month over month we're seeing a trend of inflation increasing starting back in october up .1% and continuing in march with an increase of .4%. now, you look at where the core inflation was this year, year-over-year, up 3.8%. that hasn't budged.

and, well, more than the federal reserve's target of 2%, so markets now believe that that all of this adds up to a first rate cut possibly in the september meeting. >> this is the third month in a row since we've been doing these segments that the expectations have understated what inflation actually ended up being. so these are scary numbers if i were in the fed. i would not be looking for a cut. so we'll see what they want to do. >> reporter: and this is what people feel, food at home up 2.2%, energy prices up 2.1%. home insurance up 4.6%. car insurance up 22% and candy and bubble gum up 4.4%. this is the price -- this is part of the reason the president's economic poll numbers have not moved. tough news for the president who wants to focus on this, a state visit by the japanese prime minister. the two are announcing, among other things, a major space cooperation to bring humans back to the moon.

neil? neil: i didn't know that about candy and gum. i guess we have to chew on that for a while. you have a certain japanese prime minister to talk to, but great job as always, my friend. i want to go to hillary vaughn because she's on capitol hill where rising interest rates are really dramatically going to add to the cost and carrying of our debt. hillary, what are you finding out? >> reporter: neil, interest is going to be a big problem, that's what experts warn. even though tax revenue is ticking up i, debt is piling up. experts say we don't have a revenue progress, we have a spending problem. the committee for a responsible federal budget warning, quote, the scariest part of our grim fiscal outlook is rising interest costs. by 2053, interest will double again after becoming the single largest line item in the entire federal budge in 2051. this year we will spent -- spend $870 billion on interest. and talks of introducing new tax breaks and spending programs show many politicians have their

priorities backwards. we can't even afford the spending we already have, for gosh sakes. and spending is going with up under president biden. it's almost doubled from what it was 10 years ago, spending more than $6 trillion last year, push higher hand prepandemic levels. and it's not just a existing spending that's the problem, president biden signed into law nearly $7 trillion in new pending. meanwhile, senate republicans on the budget committee have blasted democrats in charge for holding more hearings on climate than the budget, writing to chairman shell don why nothouse this, quote -- why nothouse, quit, denying the problem, wishing it away or ignoring its systemic economic dangers just won't work. after 15 climate change hearings, our request is the committee turn its attention to the nation's dire fiscal outlook is more than reasonable. , and neil, doing nothing isn't an option if congress wants to avoid a disaster. the cbo has warned congress repeatedly social security will

be exhausted by 2033 and medicare by 2035, but so far any if talk about fixing these things is considered a politically toxic topic. neil? neil: all right. hillary, thank you for that, i think, hillary. here's the conundrum we're in, my friends, and this will illustrate our point here. we borrow a lot of money,so a lot of people have to buy our bonds, treasury bills and the like to finance this debt that gets bigger and bigger. when you look at the 10 is-year right now that's backing up to around 4.5 a 1%, a 2-year that's going faster and hotter than that and, of course, all borrowing rates are higher right now, so the cost of carrying that debt gets higher. and in the middle of this, we have european bonds giving us a run for our money. a lot more folks inclined to buy and scoop up their version of their own government securities than our version. now, is it happening in droves? is it something we should panic about? let's ask penny pennington, the edward jones' ceo. >> neil, thank you.

great to be here. neil: are you worried, we always a talk about the speed if bumps in a market that's billion on a rampage p we take it in stride. are you taking this in stridesome. >> well, we should take this in stride as long as we're working with a financial advisor on a financial plan that a takes into account our short-term needs if and the volatility that might happen to our investment portfolio and our medium term and longer term needs. our financial advisers today have clients coming in to they are branches, or they're sitting in their living high schools -- rooms and having these discussions. a what might price volatility, how might it impact our longer term goals. and we can take a look at that a plan. we can flex if it. but most importantly what we ask our clients is, what's important to you? is that still important? and let's take a look at the plan relative to these short and medium memory -- term effects that we're experiencing right now. neil: the dow's down over 500 points and, to your point -- and

it's a good one -- we're up appreciably. and certainly since coming out of covid we've seen record after record after record this year. a bumpy quarter, but a great start. what do you tell them? how do you calm them down? >> i love it that you went to how do you take the emotion out of something that's kind of emotional right now? well, we calm folks down by putting it into perspective. this kind of volatility is natural. what we've seen in the increase in the equity markets has been really frothy since last october. it's great to see. we might see a little bit of a pullback. but, again, we'll go to those medium and longer term goals, we'll put into -- neil: what is a medium goal or longer term? i'm of the age where long term for me is lunchtime. [laughter] what do you tell people? and i guess it does depend on your age and their a tolerance risk and how much they can stomach. a lot of people just need to sleep at night.

>> sure. neil: how do you -- >> well, think about medium term if you're putting a child through college, for example. that's 12 years away or if you a soon to be grandparent, like me, neil -- neil: oh, congratulations. >> 18 years away, that could be a medium term goal. longer term goal for my 30-year-old kids is their retirement. my husband and i have going to be around for another 230 or 40 years, so we're -- 30 or 40 goals so we're thinking about that relative to our legacy plans. and a great financial advisor in a trusted relationship is able to put together the arc of that a entire story the and then flex those goals and and our probability of achieving those goals based on what's happening in the market today or, more importantly, based on the benchmark that that family needs to have according to their risk tolerance, their time horizon and the nature of the goals that that they're trying to meet. neil: what is some near term, medium term, maybe even longer term bets we were making, penny,

if we thought, all right, for sure the federal reserve's going to start cutting rates soon? that was the thought going into this year, that people were thinking march, hen they pushed it off into june. goldman sachs is now saying july. i understand at least one prominent if fed governor's saying no rate cuts at all and if maybe a rate hike down the road. how do you sort that out? >> well, a good plan is better than a poor prediction. so you start with a good plan, and then you flex that plan according to interest rate cuts that may or may not happen, a market that may or may not average a -- neil: but could i ask on the interest rate thing finish from sure. neil: just as a someone who's looked at these markets, you know them inside and out, and if that doesn't pan out, there's another sentiment building this rally is in question. do you buy that? >> i don't have a crystal ballnone of us do. ball and none of us do, but

corporate earnings are still very solid solid. the consumer is still in pretty good shape is, especially spending in the service economy. neil: right. >> our clients are making big ticket purchases, and they're taking their families on trips of a lifetime. it's experience in the -- neil: is they're not tapped out. all these thoughts that they're putting it on credit, they're in better shape than is generally -- >> there's a wide range of needs and effects in the market that a we're seeing today, but the 8 million if clients that we serve, we're putting them on that path to being able to be resilient no matter what happens to the market and to interest rates. you know, with interest rates maybe not coming down as quickly, there's some puts and takes to that, right? i mean, you're continuing to get rewarded for holding a little bit of money in cash -- neil: absolutely. cd rates, 5-6%, money market -- >> exactly. the equity market performance seems to be broadening out from the magnificent seven where it was really concentrated for a

while. those are -- neil: yeah. those magnificent seven aren't quite what they were. do you worry about that? if or maybe that's a good sign that it's not so cornered? >> the broadening of goodness of returns in the equity markets is a very promising thing. however, we're -- i lead and manage a business, we're spending a lot lot of money on technology and digital transformaismtion so i would imagine those tech companies will continue to be highly regarded in the marketplace. neil: you know, even the people -- vanguard i think of peter lynch, you know, people have to realize what dose up can go down, but it more often goes up than goes down. and you can see that in any chart of the dow over the course of many, many decades. inexorably, it goes up. but it's these periods where you have people who start thinking there's got to be a smoother, safer way for me to do better than i would do at a bank. back to what you were saying at

the outset, how do you convince them that equities are part of that? >> yeah. you take the emotion out of it. you do what you just did. you put it into perspective. our equity markets, our capital markets have been the source of growth for retirement investors in particular for decades. neil: yep. >> that's because of the growth and innovation of businesses in our country. i don't think that's going to stop. they managed the needs of consumers and what consumers are buying, and our businesses are doing very, very well. so we take the emotion out of it by putting that into perspective. and then we build a plan based on that client's risk tolerance, their time horizon and their goal, and we also locate those investments appropriately. if you are 100% allocated in the equity markets today, you're likely taking more risk than you really ought a to be taking. so the important benchmark if for your family, for your

investment portfolio is based on your needs and your time horizon. neil: so to that point, penny, i'd be curious how you look at those who look at those the high cd rates you were talking about and money market rates and want to park that money there so they can sleep at night, in most cases insured by the federal government, fdic, without any of the risk. it isn't 20, 30, 40%, but it's something. >> well, the risk there, neil, is inflation. neil: right. >> if we do inflation at what was reported today, over 3%, right? if. neil: right. >> so if you're earning 4.5% on a cd right now, you're not going to outrun inflation if. and that's inflation for the basket of goods that we buy every day. but what about the inflation of health care costs? so as our clients age, as longevity increases, health care costs become one of the most important elements of their budget. and so we help our clients think

about their health and their well-being so that they can outrun some of those inflationary kohs. at the same time, health care and perhaps assisted living, nursing home care, home health care continues to increase in price. and that's got to be built into the plan. neil: so you know you're talking to an older anchor when you talk assisted living, health care. i get it, i get it. all right, i get it. [laughter] penny, very good seeing you. heard so much about you with, it's good to see you in the flesh, edward jones' ceo. very sage advice. hook at the bigger picture, which is pretty good. already are, looking pretty good for donald trump when it comes to money raising. he was starting the year well behind joe biden, then he scooped up $50 million plus last weekend in florida, stands to make a big cash haul tonight in atlanta. we follow the money, you decide who's in better political shape after this. ♪ -- keeps georgia on my mind ♪

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“the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. neil: all right. donald trump is at a -- is this around atlanta, guys? a big fundraiser in atlanta

tonight, he's at chick-fil-a. i don't know if he's treating everyone there, but he is there right now. he expects to raise a good deal of money, a bernie marcus-hosted event is, former home depot founder will be raising what could be millions of dollars' worth of support in denominations of bargain basement ticket price of about $6,000 a minimum. if you want a picture or with donald trump, that will set you back ab $25,000. about $25,000. but it should be a big haul. now, remember when the president was gathering money in florida last weekend, he raised more than $50 million. again, we don't have final figures on what this could be tonight, but he is narrowing that a gap between himself and the president of the united states. joe biden had about a 3 to 1 lead going into this year, now more about. 5 to 1, but we're watching it closely as is daniel lippman, washington reporter. daniel, we always follow the money because you do a lot of tough with that money.

you can buy a lot of ads with that money. we already know that joe biden's folks are doing just that based on this arizona abortion ruling, and they're pounding that in battleground statements including arizona. so money is important, isn't it? >> it is. it's the resources that they need to get their message out and especially with joe biden not doing a ton of tv or print interviews. he's really going to be relying on that paid media. and trump can't reach every single person. he's been stuck in courtrooms a lot these last few months. and and with his trial set to start next week, or he'll be in a courtroom in new york a lot of time as a well. so that's why, one reason you need all of this big cash that they're raising. neil: you know, i was noticing the list of some of the attendees on this georgia event, daniel, and they include former senators david perdue and kelly leffler, obviously, bernie marcus is hosting it but not the government of georgia, not the lieutenant governor or the secretary of state, brad

raffensperger. of course, these were were the con ten white house characters in the trump the team's view in that georgia recount story. but none of them there. what are we to make of that? >> not a huge shocker -- neil: no. >> -- since they're not on great terms with trump. and they clearly have their own donor bases in georgia. and so if you're brian kemp, although if he wants to have a future in the republican party, he'll have to kind of buddy up to trump if trump is recollect ared. and if -- elected. if brian kemp wants to run for senate one day, he'll have to repair that relationship are. it'll be interesting to see if 2020 was a huge break because of how contentious georgia was. neil: dan, what do you think of these court disruptions and, of course, this hush money trial still on for monday now with jury selection, so he can't escape any of this. he can get a lot of these trial as put off and delayed but not all. and if that one come with a conviction -- comes with a conviction, then what?

>> it would be horrible news for trump because you have polls that say 4 in 10 republicans would say if these are serious charges, it makes it a much tougher argument to say, hey, this is political persecution. this is prosecutors run amok when you have a jury of regular new yorkers -- even if it's a blue state -- coming in to convict donald trump. so that could be a huge, exact a huge toll on trump's poll numbers because then, then democrats could say do you really want a felon in the oval office? if they would use that line in ads, i'm sure. neil: maybe you're right, maybe a conviction would change that. dan, great seeing you again. >> thank you, neil. neil: daniel lippman, congress ann -- congressman warren davidson of ohio, are important fellow, kind enough to join us. congress matching, great to have you. we talk about the money raising that donald trump is now busily doing and really quickly trying to catch up with joe biden.

but again, the president has the advantage so far on that a front. so how do you assess things on the financial money-raising front? >> well, i think the standard saying is you don't need the most money, you just need enough money x. one of the things you highlighted is donald trump's withdrew anemic ability to get earned media. it's off the a charts. he can speak past what he calls the fake news and reach the base. but, you know, the question is can he penetrate the all the places that he needs. to and, you know, he's building the momentum. i think he's going to do really well with the fund raising. neil: congressman, you know if about this arizona decision that hearkens back to 1860s abortion law. but but i only raise it because i believe it's the 16th state, congressman, that has established what some might view, whatever your personal view of abortion, but with very strict abortion measures. that might put your party at a disadvantage in november. might be others for whom this would be very galvanize aing. i don't know how it breaks down,

but what do you think? >> donald trump was the most pro-life president we've had. he put the court in shape to end roe v. wade, and that's part of what makes this rife, you know? now you can have this debate in different legislatures around the country. before that you had a one-size-fits-all a kind of tyranny from the court imposed op everyone, and all the states having this debate. we had it in ohio, it didn't resolve the way that i hoped it would, but people need to have this constitution at the state level. neil: do you think it's going to hurt you? i know donald trump's decision, let the statements decide this, that's the way it was meant to be before roe v. wade, but careful what you wish for because you might get decisions like this in the eyes of some that seem to go too far and galvanize the op opposition. >> yeah, no question, democrats were much more prepared for the end of roe v. wade than republicans. they're united in a really radical position. america's an outlier in the

world in terms of enabling abortion from conception the delivery and even in some rare cases, you know, post-delivery keeping the baby comfortable while pom and doctor -- mom and doctor have have a conversation. that's not going to be how it resolves in very many statements, i hope in none. but as states do have it, in arizona they'll probably say you know in we don't support what they suppord in the 1860s, let's get together and pass a law and, hopefully, that'll be the right one for the people of arizona. in the end, you know, or we know life does begin at a conception, and i think people will decide do you protect that life differently from conception, as the baby grows, post-delivery, protect children different than you protect adults? preborn children differently than you protect people now? and that is going to play out differently in states, and i think republicans should be open to that. neil all right. we'll see how it does play out. congressman, great seeing you. thank you very much. >> thank you. neil: all right. this year's olympics are going to be very different not only the fact that they're in paris,

that could be kind of cool for a lot of folks looking forward to that, but me olympic athletes are going to get paid up to $50,000 for winning a gold medal. not all. i believe it's going to focus on track and field which means that the table tennis victor is probably wondering, what about me? but it's startg. it's starting at the olympics and in paris. [speaking french] if. ♪ ♪ i'll never be the same if we ever or meet again. ♪ won't let you get away ♪ ya know, if you were cashbacking you could earn on everything with just one card. chase freedom unlimited. so, if you're off the racking... ...or crab cracking, you're cashbacking. cashback on flapjacks, baby backs, or tacos at the taco shack. nah, i'm working on my six pack. switch to a king suite- or book a silent retreat. silent retreat? hold up - yeeerp? i can't talk right now, i'm at a silent retreat.

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neil: all right, this is the very unusual for olympic sport, paying olympic athletes who get $50,000 for winning a gold medal. it's limited to track and field participants and athletes, introducing prize money for the first time to top performs, but it's got a ott rot of folks wondering whether we're going to see that spread out to a whole host of other sports. and this is just the start of something big. enter the former nfl player, ubs managing director, head of sports and entertainment. he's trying to give back to a lot of athletes who when come into money and sometimes don't know how to handle money. he's very good with both and an athlete aside, so i wouldn't mess with this guy.. i'm glad he's on remote so he

can't hit me. very good to have you and thank you. >> appreciate you having meful thanks for having me on. neil: i'm delighted. i did want to get your thoughts though on th is an up precedented move in olympic history, to start paying athletes at least those who win top medals, i would imagine it's going to spread beyond track rain field, this is just sort of a teaser. what do you think? >> yeah. i think it's very interesting. you know, before olympian athletes just used to play for the flag, now there's added incentive to winning a god medal. if you look -- gold medal. if you look at tv rights, that's probably where a lot of the intrigue and interest, some of the fans in olympic sports, they love watching the track and field. so i see that. but also if i'm thinking about it, it's a preemptive move. if you in the states with the ncaa and nil and not paying their am ature apt a heats, i think the olympics are saying let's be proactive and start

giving ourm a cure athletes a little bit of inceive to continue to play in any to olympics. so good move, a little extra dough in their pockets. it's not life-changing but, again, you're going out to paris, flight out there for your leave the olympics in debt.on't neil: you're dealing with a lot of superstars and athletes who often timecome into big money, serious money fast, and the history can be murky. i think of the example of mike tyson who earned a billion dollars and was down to pennies before coming back with specials and the like. bottom line are, lost it all. and we see this often times, and we see it among great nfl players and the like. you're trying to stop that with just some basic education. maybe you can explain. >> yeah. i think, you know, even in my own experience when it came to by finances, i was extremely successful on the field, but for some reason i was putting my own

hard-earned money at risk by not understanding my finances. and i think for athletes where it starts is getting the right team of people around you, people or who are willing to have real relationships. not just transactional relationships where they just want to earn money off of you, be want to teach you about your finance ifs. what we've been doing at ubs is making sure our sports entertainment division understands who these athletes are, understands why is it important that they think about life after sports because at the end of the day it's a short career. and if you plan if now, get the right people around a you, that's setting yourself up for success. neil: you know, it's interesting too when when i think about it, i don't know what personally happened with you. obviously, you were gifted on the field, but you get a lot of hangers-on. people want to be around you and you're generous to a fault, a lot of these athletes were with. i remember talking to the former heavyweight boxing champ, larry holmes, about this who said he wised up to the fact that all these people around him

disappeared when he was no longer a champ. but he did say one thing that stuck in my mind and that was, neil, i signed every check. in other words, he would with always say he didn't leave it to some money adviser to do something he was unaware of. he was actively involved. what do you think of that? enter that's great advice -- >> that's great advice. unfortunately, he's not the norm. i think a lot of athletes, especially myself, i was captain of the chicago bears, and i was a head-nodder, you know? i would hear terms that i didn't understand and just so i didn't look like i didn't know what i was saying, i would nod my head and say yes. but the truth of the he's is most individuals, most americans don't understand their finances. and it becomes, becomes a problem with athletes because it's a short period of time they have to earn this money. they can't make mistakes. those mistakes are magnified tenfold when it comes to the short life spans they have. so for us, we're trying to make sure that we put our clients, our athletes, entertainers in

positions that that they're thinking about their future, that that they're surrounding themselves with a network of individuals that's in their ecosystem that are going to help build a lasting legacy and we're thinking about life after the 15 minutes of fame are up. i don't care if you're tom brady, you played 20 years, you've still got to figure out what's in connection, and that's what these athletes need to do. neil: it's a very good thing. you're giving back a lot, it's important to a lot of people. i admire that. loved everything about you except the fact that you were with the bears, but outside of that, you really were a great athlete and are. thank you, wale, very much. >> appreciate, neil. thank you. neil: we have a lot more show here. right now i don't know if wale advises a lot of his candidates maybe invest in stocks or gold or anything, any of these alternative investments. gold itself does seem to be slowing down from an 8-day torrid run hitting record after record after record. do not cry for gold investors, they're up appreciably. and we're following the

commodity bureau research indecision, all up double digits year to date and more today. we're on on the of -- can on top of that and what it means after this. ♪ shines like diamonds in our eyes. ♪ thought we had a million but, baby, we got nothing. ♪ fool's gold --

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and we could all un-experience this whole session. okay, that's uncalled for.

neil: all right, stocks still tanking on this surprisingly strong cpi report, consumer price index report, we had for last month if which shows a 3.5% annual clip. remember, the fed's goal is 2%. nowhere near that right now. francis stacy, scott redler here, the p if 3 trading chief strategist. welcome to g.o.a.t. of -- both of you. scott, your thoughts on what the markets are panicking about. that the rate cuts are delayed, maybe denied this entire year. what do you think? >> i wouldn't quite say panicking. we're down about 1-2% from the highs in the s&p after a 0 percent move in the first quarter -- 10% -- neil: very good point. so this might be just profit taking, might be a natural bump, nothing to panic over? >> well, it just, you know, right now inflation is sticky,

and every time they try to ignore the data that's been coming out, they're not doing a good job. maybe this time it might be a little tough as we're now in the second quarter, like i just said, we're up 10%. the street said 4-5 rate cut ands now they're talking 1-2, so it would be, actually, healthy if we pull in 2, 3 off the highs to refuel the actual move that a we could see later this year. neil: what if there are no cuts, francis, this year? >> no cuts. okay, i'm officially predicting the end of the world. no -- [laughter] okay. let me try to just put some common sense into this discussion, okay? number one, we've got the money supply, you've got liquidity in the economy against goods and services. this is a ratio. this ratio determines inflation versus stagflation versus deflation, right? and the fed is supposed to control the money supply and bring the money supply down juxtaposed to goods and services, and that's supposed to bring prices down. what has happened is despite the fed tightening, you know,

raising rates at a record rate and also a rolling off the balance sheet is you've had if fiscal spending that's come in and reliquified the economy, banks stopped lending last year, but with you had private credit that came in. and so nothing defaulted which would typically occur in a fed-tightening cycle. they've done way more hard landings than anything else. and then you had people who would normally use their savings and incomes the buy groceries. 60% of the populace is putting this on credit cards. okay, when you put it on a credit card, that brings new money into the system. so the fed is reducing, and all of these other things are shoving the money supply heard which puts the fed in a horrific position. and powell quintessentially has a fork in the road. he either preemptively cuts because of the long and variable lags of monetary policy9 and the fact that we do have meaningful inflections in foreclosures, bankruptcies and credit card default, or he waits until we

hit the the wall. neil the way i interpret that, scott, damned if he does, damned if he doesn't. ing if he does cut in an environment where people are rook at the latest can -- look at the latest sticky inflation data that, that would look like he's dropping the ball. if he hikes or keeps rates where they are for a while, that further fuels the argument we're disappointed that you're not cutting. in other words, he can't win. [laughter] >> well, he's data-dependent, and i think he's going to go meeting by meeting, which he said. we'll see the environment. we'll see huh high does oil get -- neil: he must be fearing overdoing it, right? that if you don't cut, and i understand the reasons -- >> but didn't he say inflation was transitory? if. neil: well, exactly. >> i think that he's in a tricky spot, but he's trying to thread the needle. i'm still kind of in the soft landing camp. i think we might need some bumps, and i think if we do see a correction in the s&p like right now we're down 1.2%, if we

could go down 2, 3, 4% for the summer -- neil: the still about 10% for the year. >> exactly. it'll give him a little fuel that he can cut. he can't cut when the s&p is making all-time highs, when you have inflation the way it's going, the sticky data points that we've seen. so at this point, you know, i think we have some time to let things sift through, and there's still great equity rotation. you're still seeing the xle perform, the tech sector still hasn't corrected it's in the channel. we still have leadership -- neil: but market rates are backing up, over which the fed has no control. it can try to talk them up and down, but the market rates are still going higher, mortgage rates will be going to 7.5% likely next week if this holds where this 10-year is, so there's your innation there too, right? >> absolutely -- inflation. the thing is markets are not reacting to rates anymore because the markets have gotten it so much -- i've gotten it wrong. i have a few scars. you're definitely more positive

than i because you didn't listen to larry summers earlier saying there might be a rate hike on the table and the stock market could crash. his words, not mine. >> didn't two years ago everyone said we were going to be in recession -- >> yeah. >> and a lot of analysts were with talking about major corrections, and we've been up 29% since the october lows. neil: you sound still very bullish. you sound much more cautious. >> i think that, you know, i'm with scott in the sense that nothing is going to wreak this -- break this momentum until it does. markets are not having a healthy normal correlation or to uncorrelation to rates, and so they're counting on these other anomalies that a kind of made rates not matter as much. and one of those shoes drops, or neil, either the fiscal spending falls you have of a cliff because we have no demand in the treasury markets which is why gold is going through the roof, or you have, you know, some wall with commercial real estate or you have credit card consumers falling off. that, you know, new liquidity coming into the system that's counterbalancing the fed tightening is no longer there,

then i think rates will matter again. neil: so this is just a bump for the time being or the sign of, you know, a correction or -- >> can i clarify? it all depends on your time frame. if you're an individual with a job, you have a 401(k), a lot of this doesn't matter to you. you put your money in, you max it out, you cost averaging, you'll do just fine. but if you trade for a living with p and l or quarterly, you better be on your toes. i think we're at this crucial time period where the s&p, we were talking offline about it saying 51-50 -- 5150, if that doesn't hold in the next multiple sessions, all bents are off. 4800, 4900 in the s&p cash which, or again, wouldn't be the end of the world after the size of the move we've just seen, but if you trade for a living and you get caught and you're not hedged or in some decent amount as of cash, all of a sudden you could be behind the high water mark and it get complicated.

neil: real quickly, ken fisher says he's very bullish until the remainder of the year. kind of unpredictable about next year, but what do you think? >> the whole thing about the hard landing would be a credit event, right in he's is very bullish because all of these lu quiddity -- neil: the presidential election year. >> there's that. boy, lucky powell he's got those optics to consider. neil: again, he cannot win or lose. >> tough job. neil: very, very well explained. all right, we're also looking at the consumer ands this is something when you talk about his or her propensity to still spend, that does extend to travel. very pricey travel. but if you are going to airports right now, you are asking more questions about the plane you'll be hopping on. after this. ♪ airplanes in the night if sky are like sooting stars. ♪ i could really use a wish with right now, wish right now, wish right now ♪

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neil: was it me or is boeing having hard trouble just getting out of its own way? if a day after reporting quarterly plane deliveries fell to their lowest level in three years, the company was greeted by more bad news, the faa is reportedly investigating a whiting blower's claims allegins claims alleging flaws that go back years in the. -- 787 dreamliner. this has folks checking the make and model of the plane they'll be fly being on regardless of the carrier. travel expert extraordinaire if joins us now. lee, a friends and can and colleagues of mine do check this stuff out. people say, well, or you know, if it's a boeing plane, i don't know? >> when they were having the issues with the 737 max, it was the first time i've ever done that 234 my life, and i've been traveling constantly for the last 25 years, or and i'll probably be doing it more often

now because these claims about the 787 dreamline are serious, if true. you know, there could be structural issues. we don't really know yet. we're going of to rely on the f a aa investigation. but it's definitely cause for alarm. if you saw some of the whistleblower's testimony or something, it said basically there were people, like, or jumping op things to make them fit. that's kind of carry if you're a flyer and i'd be a little wary. neil: what do you do in that case, lee? >> well, you book flights that aren't on that particular make and mold of plane -- neil: huh but how would you know that? i don't know if it's true, maybe united only has boeing, i don't know if it does, there are only two major aerospace companies, so what do you do then? >> right. when you book a flight, it'll tell you what a tube of plane that they're on -- type, and if they only have the 787 or the 737 max, whatever it might be, you can look at alternatives with that a airline because most airlines will have both planes or just look at a different

airline or. it'll tell you right on the web site when you book it. neil: a lo of times you have the announcement a different plane is coming in, a backup coming in, and it might not be to your desire anyway, then what do you do? >> yeah, then you're kind of stuck. i guess you could say take we off this plane, but i don't think i would go that far. i think i'd just stay the course for now but just wait and see how this investigation pans out. just be aware that you do have options, and it's basically to look for an alternative make and model of plane or airline. neil: how does the summer travel season hook to you? st going to get busy pretty soon. >> well, they're projecting that there's going to be more people flying this summer than there were prepandemic. neil: wow. >> and with the shortage of planeses because of commercial aircraft supplier issues, it's going to be, it's going to be interesting. airlines have already canceled a bunch of flights, and there's going to be delays. and they're forced because of the plane shortage to lease

planes. the leases are as expensive as they've ever been, so you can expect more has aings for the airlines because they're going to have to let people go and probably raise price as well. so it's going to be an interesting summer travel season and kind of tbd on how that goes. neil: yeah. we'll watch very closely, rhee. thanks for the guidance and -- lee, thanks for the guy dance and warning. just want to leave you a quick peek peek peek at the dow, so we really have not been able to sort of break this selloff here. but we'll see what happens. interest rates backing up certainly to the highest they've been this year on the 10-year note, back to levels of last fall. taylor riggs and "the big money show" folks. taylor: well done, neil. really appreciate it. hello, everyone, i'm taylor riggs --pipepipe i'm brian brenberg -- jackie: and i'm jackie

dean