>> oh. stuart: ashley, you knew it. i got it wrong. pathetic really. >> it was guess. stuart: thanks for the help. you were good on meghan markle sending a letter to king charles. you speculated on both sides of the fence. you're a diplomat. i guess i will see all of you tomorrow. i will see all of our viewers tomorrow. meanwhile, here's neil. neil: surprised you forgot that. you and i were covering. you were for the british press. how time flies. corner of wall and broad we got a selloff. you know the drill little more than 24 hours from now. we know higher interest rates. we don't know exactly higher. consensus is 3/4 is of a percent. by the way sweden raised a full

percentage point. equivalent of their overnight lending rate to 2%. that was a big deal. japan is saying that inflation is rising at the fastest clip we've seen in eight years. the backdrop is higher rates to come. not only when they come, they do get added on, they will stick around a while. that is bumming a lot of investors out. jackie deangelis taking a look at all of that, as the meeting wraps up effectively tomorrow. reporter: good afternoon to you, neil. that is exactly right. we're kicking off today. the fed decision will come tomorrow and investors continue to sell stocks. one fund investor says he expects the economy to slow whether we get 3/4 of a point or a full point tomorrow the hikes will keep coming as you said until we see enough to improve inflation. that is more about the duration of fed action. typically equities lower, bonds are higher, a flight to safety,

right? that is not happening. investors are selling both assets together which gives you a sense of sentiment. 10-year treasury yield gaining steam holding over 3 1/2%. we're watching, falling bond prices means higher yields. it is inverse relationship. the 10-year seeing highest level since april of 2011. we're watching the two-year treasury. that is moving towards 4%. it is not just stocks and bonds, neil. commodities are lower too. crude oil, gold selling off. gold is another safety trade. commodities are very much impacted by the dollar. that is how they're traded. the dollar index keeps advancing higher. look at the chart. this is staggering. dollar index, september 6th hit a 20-year high. what does a stronger dollar mean? it makes it more expensive to trade commodities t indicates what could be coming down the pike. a stronger dollar makes our exports expensive this could cool demand. there are a lot of factors that could play in the market. in company news i want to point

out ford shares are down in trading after the automaker warned late yesterday its earnings would be crimped by higher supplier costs and also parts shortages. embedded inflation, a prolonged supply chain problem. that is how it starts to manifest. investors are seeing signs like this. they begin to worry how soft earnings impact the firms. will the firms start laying off? will that impact the labor market, so on. neil? neil: jackie, thank you very much for that. kelly o'grady out in l.a., fears by some the fed could overdo it, clamp down on inflation. forget about cause being recession, how about deflation? kelly, what do you have for us? reporter: definitely with the fed meeting kicking off today powerful names are weighing in on that pending decision as we await an aggressive rate hike as jackie was mentioning. folks are warning of the danger that could bring. everyone's favorite tweeter elon musk was on social media a

rate hike risks deflation. the central bank should drop rates by 25 basis points, critizing it for being too slow to react in such a fast changing world. that is a sentiment shared by cathie wood, the arc invest ceo has been one of the street's most vocal proponents of deflation. arguing disruptive a.i. will remedy inflation than rate hikes. she shows key indicators gold prices are dropping, jackie mentioned that earlier, which she argues peak inflation has passed. in stark to some analysts that think a full 100 basis points is necessary. play a cripclip of interview with car rile group david reubenstein. i think that was quite interesting yesterday. neil: first off your expectation this is week and whether the fed moves 3/4 point. >> the fed has been telegraphing 75 basis points f they go 100 basis points it would be shocking to the market. some percentage, 14% or so think

it will be 100 basis points. i don't think they would shock the market. i think if they were doing 100 basis points they would have telegraphed by now. reporter: regardless of the warnings we can expect a 75 basis-point hike. we saw red hot inflation last week. powell himself sent shivers to wall street when he warned of pain to come. 2:00 p.m. we'll get the rate hike decision. followed by a press conference at 2:30. everyone holds their breath, try to read the tea leaves. this isn't the last meeting of the year. some investors are predicting we could be over 4% in december. i'm sure elon musk will have something to say about that. neil: i don't think he can avoid say something. thank you, kelly o'grady. let's go to steve moore, trump advisor, best-selling ought thor. steve, let me talk about the 3/4 point increels, pricing another 3/4% increase at next meeting. you remind me it isn't bible you

have to rate every meeting to raise or lower rates. you can do them intrameeting. so we are looking at a minimum of a 4% fed funds rate probably by year-end. we started this year essentially at zero. what do you make of that? >> that strategy i was talking about the other day with you, i call rip the bandaid off. just get it over with. that may mean more than 3/4 of a point but at this point the 3/4 will happen. i think i feel very confident making that prediction. and then the question becomes what does the fed do next? i'm looking at all these same indicators that you've been reporting, neil, and they are giving conflicting signals on inflation, no question about it. i have mean when you see what's happened with the two year, 10-year treasury, interest rate that is certainly a sign thain investors are more worried about inflation. but then you look at the gold price, that i think you reported that has been falling, it has been falling you know --

neil: hardly a haven, right, hardly a haven. >> that's right, exactly. then you look at commodities, as you know when i was nominated for the fed board i was, i talked a lot let's look at a commodity index. well that peaked out at about 350 a few months ago. i just looked two minutes before we came on the show, we're at about 300 now on the commodity index. so that shows definitely a lessening of inflation. so i think i'm as confused as everybody about where -- but then of course you have got the supply chains you were reporting. those clearly will raise prices. neil: right. >> i guess you got to couldn't me as confused. i think everybody is. i think the fed is confused where we're headed with inflation right now but my prediction is, we are pretty close to peak inflation. neil: and that might be the case here but we do know that the fed can overdo it, risk overdoing it and these aggressive rate hikes could be a sign of that. >> that's right. neil: others say you could still

orchestrate a safe landing, plenty of time to do that or a soft landing but i do want to get your thoughts on one of the things that analysts mentioned that to sort of lead the markets, you don't want to surprise the markets. the markets are not expecting a percentage point hike tomorrow. >> right. neil: they're expecting 3 have 4 of a percent. probably showing my age, steve here, i remember paul volcker never fussed with such concerns. the market didn't like what he was doing who cares? i know we live in a different age now, from alan greenspan the markets have been pivotal coaxing them, preparing them, but why do we obsess about that? >> i think the markets are too obsessed with fed interest rates and not obsessed enough about what impact inflation has not just on peoples incomes but on peoples investments. so the dow, the dow ask down 222

as i look at the screen right now today. it is actually down now for the year, you know. it's down since biden took office. so when you consider that over that period we've had, oh, somewhere near 13% inflation, that means investors have lost 13% on an index fund because you know, it is not just income. it is also investments that are affected by inflation. so my point i'm making, neil, is inflation is a killer of bull markets, kills them. look what happened in the '70s. i said this many times on your show. we were at dow 1000 in 1967. they were the dow hit 800 by 1982. inflation killed investments. so i do think, i like what jay powell is saying in terms of his rhetoric now which inflation is public enemy number one. we've got to get back down to the two to 3% target. neil: i worry about the

obsession about the markets. i know that seems sack for someone that covers market if you do the market bidding. the markets know it, they want a pivot from the fed to be a little softer, not so gung-ho wiping out inflation. sort of like what your mom teaches growing up, eat the vegetables. you can have you know a meal of just cannolis and that, my mothr told me that a thousand times. what worries me to make sure the push with the markets with everything the fed is doing, we could be kind of fooled into thinking that if they have a positive response that is good. if they have a negative response we got to do something that makes them behave less negatively and yet markets are fickle. i can remember that rescue, the bank rescue when the dow fell 777 points when congress failed to come up with the votes.

>> i remember. neil: we had to hurry. let's hurry back. they did hurry back. they got it approved. as things turned out the dow would fall another 6,000 points in the interim. i'm just wondering, do we placate these markets to our own detriment? >> well, i'll give you a big picture, long-term perspective on this. if you look at from the time that paul volcker conquered inflation which was basically by early 1982, neil, and through 2020, the biggest bull market expansion in civilization. we never seen anything like this. we never see the dow going from 1,000 to 35,000. so inflation is the enemy. one other quick point i know we're running out of time, you had, you quoted some economists and investor experts saying we're worried about deflation. we need a little bit of deflation now to bring the

inflation rate down from 3.2 to 2. it will take a few months of deflating. that is like chemotherapy for cancer but you got to do it. neil: look at japan's experience, right. >> i don't want to sigh that. neil: all right. >> i'm saying short-term you got to get, you're going to have, if you want to get from 8.3 to 2%, right? that is the fed's strategy, you're going to have to have tight money for about six months. neil: at a minimum. at a minimum. >> yeah. neil: steve, always good talking to you. going back to good old days. only you and i commiserate about the '70s and '80s. >> seems like yesterday, doesn't it? neil: what the heck. thank you my friend, steve moore, former economic svengali for president trump. at the corner of wall and broad we're down 232 points. interest rates are backing up. i think at the rate we're going we will have a two-year at 4%. think about that. why not commit your money to a

return like that when the alternative is to lose whatever you've gained in the markets. at least you would be hanging onto something. of course the argument was always been inflation adjusted yields are still going to have you underwater. you know what, losing your shirt in the stock market has you underwater as well, doesn't it? stay with us. ♪. another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company.

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♪. neil: all right by now you have probably heard that officially we have just wrapped up or close to wrapping up a, this fiscal year doesn't end until the 30th but as of the end of august better than two million migrants had crossed into the border that doesn't include all the got-aways conceivably jump that considerably. that was a year-to-date number in the latest month a increase of better than 200,000. when all said and done this fiscal year, we're probably looking to a figure closer to 2 1/2 million that would be a record. it might not end there. aishah hasnie on capitol hill how they're trying to improve those numbers so that we don't get so many big numbers but they're not even close. ashiah? reporter: hey, neil, good afternoon to you. that's right, so democrats and republicans here on the hill agree something has to be done

about the southern border. they agree on that but as far as a bipartisan immigration reform package, that seems so far away at this moment that progressive representative ro khanna in the house has actually called on vice president kamala harris to help lead the conversations to be able to strike a deal. watch. >> do you think she is doing a good job at the border? >> i think we need a better solution on comprehensive immigration reform. what i would say to the vice president, help lead to get comprehensive immigration reform done. reporter: so will she help lead, neil? unclear. that is because, well she and the president think the border is already secure. of course that is contrary to the callous images we show you every single day of thousands of migrants crossing the southern border. republicans say immigration reform is off the table until

the administration secures the border. even democrats like senator joe manchin and representative henry cuellar agree the border is not secure. now congressional democrats, neil, being forced to revisit the immigration issue seven weeks out of election because republican leaders continue to bus migrants to sanctuary stiffs to listen the them in border communities. they want a guest worker program to fill shortages. at most offering citizen shun for undocumented migrants. at least for now that is off the table. last couple hours, neil, there may be a push to get more funding to fema. as you know fema dollars are being used to take care of these migrants being bused to the sanctuary cities. they're also being used to take care of the migrants down at the southern border. according to senator

elizabeth warren she will try to push more funding be appropriations to fema to deal what we're seeing happening at the border. neil. neil: aisha thank you for that aishah hasnie. others are going a step further than the senator hoe wants to come up with ways to help out what is happening at the border. others are looking into investigations maybe even criminal charges against folks like florida governor ron desantis for forcing migrants they say, some 60 of them in two different plane loads to go to martha's vineyard and other points similarly raise about governor abbott and all of these bus loads one after another to all of these sanctuary cities. careen joins us from "the wall street journal" editorial board. there is a bit of a double standard to the zeal. explain. >> that's right, neil, these border towns are completely inundated, getting very little help for the past two years from

the administration. while these stunts sending migrants around are not most savory tactics they're raising awareness of medical strain, shelter that the border has been feeling acutely with far less resources at their disposal. neil: the budget for texas alone couple years ago, is $800 million a year. now closing to 5 billion. that is something texas taxpayers are bearing. the idea, concern for these migrants as they descend on all of these sanctuary cities i don't remember the same concern when so many of them were coming via planes, often in the middle of the night, 10 times the numbers we're talking now? >> well, that's right. it is just all politics at this point. when republican governors and leaders start sending migrants up north, that is when it started to get attention but the administration has been sending migrants across the country for months now so this is nothing new. neil: i could similarly say

where was this concern of the migrants at the border when texas politicians were saying we've got a crisis here? it only became a crisis when these migrants landed on their doorstep? it is a double standard. i'm just wonder wondering where this goes as now criminal investigations are being examined here? >> exactly, hopefully now the administration is waking up to the fact that texas can't handle alone. arizona canned handle this alone it is also going to hurt them in elections. i don't think they wanted this at the forefront. a lot of people vote on immigration. it's a top five voting issue. so you know, now that it is getting headlines they will have to do something about it because people are paying attention. neil: i'm wondering if democrats are seizing on the possibility it is an issue that will gal vannize a base of latinos offended by this treatment. doesn't always work that way, does isn't. >> no it doesn't. a lot of these border towns have high latino populations as well.

they're feeling the strain. those are their hospitals, their shelters. everyone wants to help. when i was in the border in april around del rio, everyone wanted to help local pds, hospitals, teachers, whatever. it is a matter of resources. they don't have the resources. they're asking the administration for help and they're get thing it. neil: we're following a selloff on the corner of wall and broad. tomorrow is the big day federal reserve around this time, close to 2:00 p.m. actually tomorrow, hour 1/2 from now they will wrap up a two-day meeting they're expected to hike interest rates probably another 3/4 of a point. all this comes amidst growing concern this is a worldwide problem that is accelerating. sweden, for example, rose interest rates, hiked them by a full percentage point. we saw the europeans do the same little more than three weeks ago, 3/4 of a point. another 3/4 a point expecting to come. bank of england looking to a 3/4, one full percentage point

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♪. neil: welcome back, everyone. you think we avoid ad big rail strike last week, 115,000 workers just walking off the job? well it is not a done deal. in fact looking right now pretty dicey deal. gerri willis here to explain what is going on? reporter: yogi berra said it ain't over until it is over guess what it ain't over. tentative agreement between the u.s. railroads and leaders but a strict could still happen. because union leaders need to ratify an agreement. some local members already rejected the terms, those terms are this, 24% wage increase. an additional 16,000 in bonuses one-time payouts. the railroad industry average railroad worker salaries will reach 110,000 by 2025 under the

deal's terms this may sound solid but members of international association of machinists an aerospace workers have already rejected the agreement though they have agreed to postpone any strikes until september 29th. as you remember biden in discussing the tentative deal said the country avoided what he called a real economic crisis. we'll have to wait to see if that's true. even if there isn't a deal there are ways, the pain of a strike could be avoided. for example, congress could intervene to keep the supply chain moving. or there could also be a final offer arbitration, arbitration like they have in baseball. some are making a bets unions will acquiesce because of political pressure ahead of the midterms. neil: they're cutting it close. really close. reporter: i know. neil: go to grady trimble right now. i don't want to pour on the bad news, europe britain, utility bills are through the roof.

talking about freezing the rate increases for time being, good luck with that. we're in a similar conundrum, americans are paying 170, $175 more likely to heat their homes this winter that could be a conservative figure. grady with more on that. reporter: neil, on average it will cost $1200 for americans to heat their homes this winter. if you look at the numbers that is a 17% increase from a year ago. as you noted about $175 more than last winter. home heating bills could be even higher depending where you live and how you heat your home. even with this bleak forecast for the winter the biden administration is touting that gas prices at the pump have fallen from record highs. >> 2.34, that is savings of $70 per month for the average driver. that is breathing room. reporter: but any quote savings

from fuel at the pump could be offset by higher natural gas price. >> here in texas where we look at the fuel cost adjustment factor being up 50% compared to february, that is going to add over $100 per month to the consumer but also in their electricity bills because nationwide, 38% of our electricity is generated from natural gas. reporter: meanwhile the department of interior is expected to finalize a ban on oil and gas leases near a native-american historical site in northwest new mexico. a lot of natives who live there support drilling. 1 1/2 hoe nation citizen told fox news digital. we're not destroying anything. we're native americans ourselves. nobody is destroying the park. it just seems like they, the biden administration, are listening more to the environmentalists people. the biden administration is also extending the timing for the release of oil from the strategic petroleum reserve.

you remember neil, that was supposed to end in october but now there will be a delivery of 10 million barrels in november, which a lot of people are pointing out coincides the midterm elections. neil: hmmm, interesting timing there. all right, grady, thank you very much for that, grady trimble. as you know grocery store prices i don't have to remind you are rocketing. for a lot of folks it is getting increasingly cheaper to eat out. you would save eating out and staying home eating in. my next guest is probably a example of that. ray blanchett, tgi friday's ceo. expanding every, including aggressively in asia. ray, good to have you. i read a lot of statistics, they bear out, increase in traffic, you've seen it at all your restaurants here, the notion the higher grocery prices go the more folks seem to be eating out. so it would go against logic but not necessarily. what do you make of what's

happening? >> well, thanks for having me, neil. yeah, actually what we see is, you know when the chasm between eating out and eating in narrows that is usually a good guest driver for us, right? so traffic counts tend to respond favorably. we know that right now we've got you know, a very resilient consumer, given they're is full employment, people are kind of hanging in there, even in a, obviously in and inflation airy environment that is unprecedented, at least for the last 40 years. neil: you have to pass along at least some of those increases you're having to absorb as well but does not appear to be affecting traffic. how are you handling this? >> well, when we pass through, we don't pass through dollar for dollar, right? because in restaurants, generally speaking, in inflationary economies we pass through some and then as it goes pack to sort of normal,

historical norms, we generally keep the price, right? so we may suffer some near term margin compression with an outsized benefit on the back end. so that, that is what narrows the chasm between grocery stores and restaurants in times like this. neil: now the aggressive expansion abroad, 75 new restaurants i'm told in south and southeast asia, now that's an area that has been buffetted by covid concerns. i'm thinking of china where they open and close and have these rolling lockdowns. you would think that at least would be a prohibitive environment to sort of roll the dice and expand operations but not so explain. >> we're actually seeing a very robust recovery in asia, places like the philippines, taiwan, have, are big markets to bo are us and have been performing extremely well. this particular deal is especially fun because persum,

we've known since early '90s, he started with tgi friday's in indonesia as a kitchen manager in the early '90s. yeah, he has gone on in his career. energy, he made a lot of money in energy, building data centers in india. he is a very significant business man but he is part of our family, right. we've known him for a long time. he is going full circle. now he is back in the brand. he is going to be building in singapore, in indonesia. he already owns india, he is expanding in india, thailand, vietnam, laos. that sort of part of the world, we're given our success in the philippines and taiwan we are, we're really excited about this deal. it is a cool deal. neil: how do you alter or change or pivot your menu in different locales because you're everywhere? obviously what americans like isn't necessarily what asian diners like. so how do you adjust?

>> well not as much as you might think. when people in asia come to us they come to us for a western food. they come to us for americana and you be, if you think about how asians like to enjoy a meal, it is usually with large families and friends and there's a lot of sharing. so large format appetizers actually work really well. the appetizers tend to hit the center of the table, and everyone is sort of sharing and picking but they're coming to us to have american food. if they're looking for a noodle bowl or rice bowl there is better options out there. we don't try to compete for the local cuisine. we kind of stick to our guns and bring americana to the world. neil: you have phenomenal burgers but i digress. let me get your take and i asked ceos of note all the time, are you concerns expectations of another rate hike in this country tomorrow, actually rate

hikes are happening all over the world, save china where they have been actually cutting rates, leaving that aside, do you worry our federal reserve is overdoing it? >> we pay close attention to what's happening. i mean obviously we want to see inflation arrest at some point very soon. we know that, you know, our consumers as ultimately is the one going to be taxed the most. we serve middle america, the united states, we try to serve emerging middle classes around the globe. inflation is a threat to us. we think, robust recovery, i think we're excited about the job creation that is happening in the marketplace and we're concerned about the rate hikes. neil: watch carefully. ray, thank you very, very much. congratulations on your success. ray blanchett, tgi friday's ceo. big, big expansion going on in asia. i did not know the menu is essentially the same no matter

where you go. meantime no matter what you're hearing about a quiet hurricane season, there is fiona to contend. now a category 3 storm. could be a category 4 storm. done heavy damage in puerto rico, dough minute call republic, turks & caicos, bermuda. is this something that is starting a late but hardly finished hurricane season? after this. ♪. dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones ♪ ♪

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true loyalty doesn't come around often. but if you're lucky enough to earn it, it's on you to do everything in your power to hold on to it. to show that loyalty goes both ways. these people have helped build this place from the ground up. so we're doing whatever it takes to help secure their future. ♪ ♪ neil: all right. fiona is a storm that just won't end. the fact it is in the vast open seas of the atlantic and really can't be stopped by small islands like turks & caicos or puerto rico or the dominican republic, or now, has its sights set on bermuda it can gather steam. it is doing just that. will nunley with more from puerto rico?

sir. reporter: one of the biggest changes since we last spoke, the fact we enjoyed sun here most of the day. we had a break in the rain. keep in mind the eye of the storm passed over here in ponce 3:00. it stopped raining overnight. that is big challenge for the massive rescue effort underway. we're continuing to see incredible video of neighborhoods flooded, mudslides happening across the mountain terrain. today, now that we have a break in the rain, rescue workers are continuing a round-the-clock effort to get to remote areas to do welfare checks to make sure everyone is accounted for. some improvement to pass along on the electric grid. luma energy which manages puerto rico's delicate electric grid they were able to bring on 280,000 people overnight. that is a big dent in the 1.1 million customers waiting for electricity back on. they're prioritizing things like hospitals, medical centers. that is welcome news for people

waiting for electricity. we notice a lot of infrastructure improvements made post-maria, like concrete utility poles held up well here. a lot of wooden poles, older infrastructure snapped once again under the weight of all this incredible storm pressure that came through here. meanwhile 128 different places for people to stay overnight were opened up and, certainly some shelters there for people to have food and some access to some sleeping arrangements. they will be there for a while, when the assessment continues if they can return to their homes anytime soon. as you mentioned category 3 right now the storm continues and strengthening. category 4, america's weather team is stationed in bermuda there as well. we'll wake you through every step of the storm as it progresses. neil: late stop, making up for lost time. will nunley, thank you very much. we're down 350 points on the corner of wall and broad. we'll talk about what is going on there and also examine what a top general had to say, an admiral actually, the threat of

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♪. neil: all right, the ukrainians like to point out that they have the russians on the run and the president's going to make a pitch on behalf of them when he speaks before the united nations general assembly. that is all going on this week but the numbers go way beyond just what's happening there to sell to get other nations to push for the same support this country has led. let's go to connell mcshane with more from the u.n. reporter: you know how these gatherings are, neil, every year, something different depending what is going on in the year. i was looking back at the president biden's first address to the u.n. at this time last year. he spoke for a little over half an hour. he touched on climate change and some other topics but he spent a lot of that speech talking about, and defending the way in which the united states pulled out of afghanistan but to your point this year, it is likely to at least be more of an argument for leaning in, especially financially to the war in ukraine. now the president of ukraine, president zelenskyy, much like

president biden will speak here tomorrow though zelenskyy will do so remotely, in a prerecorded address. the white house national security advisor jake sullivan meantime just moments ago in the briefing room gave us a preview of what president biden will say on the topic tomorrow. here he is. >> among other things he will offer a firm rebuke of russia's unjust war in the ukraine and make a call to the world to continue to stand against the naked aggression we've seen in the past several months. reporter: u.s. secretary of state antony blinken is here in new york today. he has been making the rounds. he has a number of meetings set up around town. remember the u.s. already sent $15 billion in aid to ukraine. 6 billion is on the way. of the senate majority leader chuck schumer is calling on $12 billion of additional funding to be approved by the end of this month. he thinks he will have bipartisan support for that. he will need it. he will need 10 republicans to be on board.

president biden as he always does as any american president would will have a global audience speaking to the u.n. general assembly tomorrow but also to some extent a domestic audience for those members of congress whether they consider to keep funding this war in a big way. neil? neil: connell, thank you for that. want to go to general jack keane on all of this. general, last time we were chatting of turn in fortune for ukrainian soldiers who have now taken back of more than 3500 square miles of ukrainian land that had been under russian control. obviously president biden wants to keep this going. but there is not quite a universal receptive audience for right now? >> certainly ukraine has had a successful counteroffensive we've all seen. much more rapid than anyone predicted. they have operational momentum that is absolutely crucial that

is the problem the russians had not donbas reason on. they absolutely lost it and gave the ukrainians the advantage. i just attended a meeting briefed by the pentagon what we're providing and there is no doesn't in my mind that the pentagon is in this not just for the near term all in for the long-term all-in, they're emphasizing that. so they have got staying power and that is a good thing. but you put your finger right on it, are the europeans going to be with us? right now the united states and the uk provide over 75% of the support going into ukraine in terms of arms, munitions and economic financial support. and yes there are other countries that have to step up. certainly germany and france can do so much more, neil, than what they're doing. they both have obviously an economic situation that's favorable in terms of the size of their budget and they also have military equipment that would be vital and the fact

they're still sitting on their hands given who they are is shameful. meanwhile you have eastern european countries all in. i was talking to the director of poland's national security bureau who came to see me and he said he is taking equipment out of his operational units, neil, to put it into ukraine. the reason is obvious to him we can defeat the russian army in ukraine without the pols having to fight them. that is in my interest. we'll take some risk with our forces now for the long term benefit of the defeating the russian army and that makes compelling sense. neil: if you don't mind, general, i would like to switch to what is happening in taiwan right now and a top admiral, you know, saying, you know, we're so focused on the chinese invading taiwan that they could be just as effective blockading taiwan. it would essentially ostracize taiwan from the rest of the

world. make it difficult for anyone to get chips through, presumably the u.s., that they're capable of doing just that. what would that mean if china were to take that next step and just blockade all of taiwan? >> yeah. when we look at this what the china, the pattern that they have achieved under president xi, obviously in taking control of the south china sea by building the artificial islands there, the intimidation, coercion, of taiwan and violating the maritime and interdiction zones, that is all what they refer to as hybrid warfare in the gray zone. in other words something less than conflict but you're able to achieve military objectives without having to fire a shot. so we've always looked at the d v-type inflation china is certainly preparing for and they want to be able to be ready to do that by 27, 2027. even though that is their most

dangerous option and that obviously at the same time gives them the greatest success if they're able to do it it is the least likely. more likely is blockade and even a lesser form of blockade which would be a quarantine where they would control what is going in by air, control what is going in by sea, let the humanitarian efforts, sustain the economy to keep going. in other words the people will still be able to function and yet who is in charge? china would be exercising control. after all that is what they really want over taiwan and influence. they have not fired a shot. that would force taiwan to respond. and whether the united states would respond in kind. so i think logically, that is much more favorable option for them to exercise. would taiwan respond? you betcha. they would, they would respond and then it remains to be seen what the united states actions would be, what the president's

desires would be at this point, what the nature of the conflict is and how effective is the quarantine on taiwan but you're right, it is a much more likely option because it fits the entire scenario on how president xi has been operating for the last 10 years. neil: it is scare riff. general, thank you very much. jack keane, u.s. four-star general, retired. fortunate to be, we're fortunate to have him sort of assessing the dangers right here. plenty of them as the u.n. general assembly meeting kicks off all this week. the president will meet with a number of leaders. the among the first he will speak to this week, is liz truss, the new british prime minister. stay with us, down 346 points. ♪. as an independent financial advisor,

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neil: if you play upbeat music you wouldn't have time to think how depressed you should be with rising rates that are higher tomorrow. expect another 3-quarter point hike, an