>> look how handsome you look, stu. stuart: which one am i? >> my nose is a little big. but you look good my man. stuart: i'm on the left? >> you're on the left. stuart: you don't have yellow hair. >> shout out to adrian, is my cartoonist. they prepare presentations with a little fun and humor. stuart: only analyst with a cartoonist. time is up, neil. neil: we're getting word that donald trump has been sued for fraud by new york attorney general. you're looking at letitia james the new york attorney general who filed the lawsuit against donald trump and the trump organization, for quote, engaging in years of financial fraud to enrich himself, his family, the trump organization. all of this on the same day the federal reserve is meeting, likely going to raise rates another 3/4 of a point. this in the case of this trump

suing action on the part of the new york attorney general is about money as well. letitia james saying new york was seeking to make the trump organization pay about $250 million while banning the former president's family from running businesses in the state entirely, adding that her office would make a criminal referral to the u.s. department of justice. quoting here, again, with the help of donald, jr., eric, ivanka, other defendants trump variously again, referring to the former president, she says, unlawfully deflated inflated his net worth by billions of dollarsobtain, satisfy loans, get insurance benefits, pay lower taxes. there are not two sets of laws for people in this nation she goes on to say. former presidents must be held to the same standards as everyday americans. this is a very developing story. it gets sort of in the weeds but the reason why obviously it's a very big business story here at fox business is this refers to

donald trump's overall real estate business known as the trump organization that obviously has tentacles into many, many, other areas. they have been looking at the books, what he is claimed as write-offs of valuations of property. this isn't anything new. this sort of conflate ad lot of these to say that he has routinely spiked the books and the numbers. no doubt donald trump, former president will be saying something about this. he was always calling this particular case, the letitia james had led another case after witch hunt. there are half a dozen such investigations right now going on against the former president. these go back to his business dealings. we'll have a lot more on that, update you on this story as more details become known and it is effect on the next presidential race where donald trump seems to be hinting of a possible run for his old job. how this could combly kate that on top of the january 6 commission report, that right now, they're planning one more

big hearing late next week. how that is affected by this, very different cases here. but there could be a similar filing of criminal charges against the former president on that. a separate matter but of course the legal pressures are building for the former president. how this affects that race and his standing, his finances, his company, anyone's guess. again we're told that donald trump and his family were aware this was coming down the proverbial legal pipe, again waiting to see an official response from them while highly anticipated the details of all of this we don't know. we'll have david lee miller on this in just a second. the other big story quite obviously the one they're monitoring could be a little more than two hours away another hike in interest rates. the overnight bank lending rate expected to surge another 3/4 of a point. edward lawrence on that story we're all waiting on as well. edward? reporter: neil, here is what we know. we know interest rates will probably go up most likely. you will see the credit card

interest rate payments, the charge that they charge that will go up. adjustable rate mortgages will go up. trying to get a new car loan, new home loan, those will also go up. now at the federal reserve symposium in jackson hole last month the federal reserve chairman told americans what to expect. i think it is important here again to hear his words. >> while higher interest rates, slower growth and softer labor market conditions will bring down inflation they will also bring some pain to households and businesses. these are the unfortunate costs of reducing inflation. reporter: the last time a federal reserve chairman made that kind of dire prediction for the future was paul volcker in october of 1979 before aggressive rate hikes. now today the market believes 80% of the market believes they will move 75 basis points. there is 20% of the market who believes they will go a full percent, 100 basis points. there has never been a time under modern monetary policy

prime minister work where the fed hiked three meetings in a row up 3/4 of a percent or more. that is what we're looking at. >> the more they hike the odds after soft landing get really, really poor. so you know, he's, he is in a pandora's box right now. reporter: the other big happening on capitol hill is the house financial services committee grilling ceos of major banks. the chairwoman of that committee, maxine waters pressed the bankers including jamie dimon on bank mergers. representative waters saying banks have become too large. on the economy the citigroup ceo said that covid may be behind us but economic challenges that we're facing are no less daunting. neil? neil: thank you very much. we have two big stories we're following now. waiting on the federal reserve, hiking interest rates yet again. also this story developing in new york, we're learning that the new york attorney general let ticker that james filed a 250 million-dollar lawsuit against donald trump for

defrauding lenders. this was a company-wide problem at the trump organization for 20 years she says. the trump family has enriched themselves through numerous acts of fraud and misrepresentations going on to say that the trumps in her words, grossly inflated the former president's net worth by billions of dollars, cheating lenders and others with false and misleading financial statements. it gets a lot more involved. we're trying to keep track of this. david lee miller to help us sort it out now. david lee. reporter: neil, the attorney general from new york state is asking the courts to now bar donald trump as well as three of his children from being officers or directors of any corporation in new york state. she is also saying that mr. trump should be banned from any real estate transactions taking part in them for at least the next five years. this has been a three-year investigation. the bottom line of the allegation here is that mr. trump, his company and others artificially inflated the

value of certain properties and financial statements in order to derive certain financial benefits. during the news conference with letitia james, we see her still talking now, going on more than half an hour, she gave a couple of examples hoofrots were inflated in value. she said, for example, the mar-a-lago country where mr. trump now lives had a claimed valuation of $739 million when in fact its real value, neil was $75 million. she also mentions specifically donald trump's trip plex in trump tower. she said according to documents mr. trump said were correct, that the apartment was 30,000 square feet when in fact it was under 11,000 square feet. again, that, point made was that he was artificially inflating the value of certain properties. that would allow him to get lower interest loans or loans he

might not be otherwise eligible for. this has been a three-year investigation. what's notable here, neil this is a civil investigation. this is not a criminal investigation but the attorney general did say that she believes that some of the findings were violation of federal law and she is going to forward the information that was obtained to the u.s. attorney for the southern district of new york as well to the irs. you might recall that donald trump said repeatedly this investigation was a witch-hunt. he has accused letitia james who is black of being racist. he was subpoenaed to testify just last month and invoked the his right against self-incrimination more than 400 times. donald trump has fought this lawsuit tooth and nail and has claimed all along again it's a witch-hunt but now it appears that despite reports that there

was some top of possible settlement being discussed the next stage is going to take place in a courtroom. neil? neil: thank you very, very much. david lee miller. by the way letitia james can recommend criminal charges. we're not at that stage. we have heard that the trump organization is responding to this, denying any wrongdoing calling the investigation a politically motivated witch-hunt by an attorney general he has already called racist. the attorney general is in fact african-american, rejected a settlement offer from the trump organization. apparently as recently as last month to resolve all of this. that is according to abc news. we're getting separate reports from "the financial times" such an offer was on the table but was ultimately rejected. again, from trump's attorney, donald trump's attorney haba, today's file is neither focused on the facts nor the law. rather slowly focused on advancing the attorney general's

political agenda saying it is abundantly clear that the attorney general's office has exceeded its statutory authority by prying into transactions where absolute wrongdoing, no absolute wrongdoing had taken place. so the back and forth is going to continue. there is the on going january 6th committee work to look what happened that day, when, a number of trump supporters stormed the capitol. that is a separate issue. they will have a final hearing we're told next week. this is apart very distinct from that. in case you're keeping track half a dozen legal cases pending enacted involving the former president and his company, the trump organization. charlie gasparino knows that organization very well. has covered the former president back to his business days going decades. what do we know about this, charlie and where do you see this going? >> well i want to read it in full, okay? i want to see every dot, every dotted i, every crossed t but it

is problematic this case for bringing against trump. i mean i don't think this is the worst thing that trump has to worry about in terms of january 6, in terms of whatever. this is kind of weak tea and i will tell you why. first it is politically fraught. she ran on the notion of taking down trump. if there was ever a conflicted prosecutor out it is tish james. it has a bad smell to it. number two, if this is so bad where's the criminal case? remember the manhattan d.a. sided essentially not to bring a criminal case. so she reaches for a civil case, which if you know anything about the new york state attorney's general, they have something going the martin act, they can bring a civil case against someone stealing a bagel. it is, it is, it gives them wide range of powers and i'm not saying this is stealing a bagel. i'm saying you have to put this in context. neil: proving financial

valuations the worth of property, worth of holdings that is always in the eye of the beholder. we don't know all those details. in other words he was rigging his net worth. >> inflating his net worth to get a bigger loan. on top of his all who is the victim here? it's deutsche bank who he paid back. if you look at this i've been covering this for a while now, if you look at the loan statements okay, let's say donald trump purposely inflated everything on this, alan weisser man, eric trump, let's double the value of all of this stuff. there is a disclaimer on the bottom of some of these documents that say, this is our valuation. you have to do your own due diligence. which presumably deutsche bank did which is why the loans have been repaid in full. and i think that is a huge problem for her proving a victim. the -- neil: three of these loans were not through deutsche bank. >> some of them with were though. neil: get your take where it goes. legal eagles can look at this,

this can only go so far. valuations to your point are in the eye of the beholder. i do remember you covered him for many, many years, donald trump was not like forbes richest people and often times said they got it too low i'm actually far richer than that. that has been out there. not necessarily a crime to you know, want to understate or overstate how rich you are. but the only difference here would be if this was all sort of cooked in the books for years. that is where she seems to be going. >> yeah. we should point out he sued a journalist who suggested he wasn't worth a billion dollars. tim o'brien, then of "the new york times." again, neil, you know, you got to look at those documents. deutsche bank was part of one of the lending facilities, there is others. i'm sure there are other banks but those documents clearly point out, unless i am missing something because i've read them, do your own due diligence. i'm paraphrasing here. these are our estimates.

do your due diligence and banks presumably did due diligence why this stuff has been paid off. these loans are not in default. there is really no victim here and, maybe it will, maybe when i read the charges the filing -- neil: to your point i don't mean to ignore you, we're getting some more details. this suit is only civil to begin with. >> right. neil: but the attorney general is referring to the former president's family to the irs's criminal division, saying there was a pattern of cheating inflating estimates all the rest. >> right. neil: often times just the reverse, that he would undervalue properties. >> he undervalued properties to the insurance companies is the charge and overvalued to -- neil: paying taxes on it. a lot we don't know. to your point i want to step way back, if we can, charlie, this is a guy who is contemplating another run to the white house. >> right. neil: many people say even

indicted you can doing so, nothing to stop you from doing so but it does have the feeling, i know letitia james went after former governor andrew cuomo forcing him to resign. she might say she is a fair and balanced arbiter here but this does have interesting timing connections. why now? >> cuomo is suing her. saying she did that for political purposes to dislodge him as governor. there is a growing case she is very politically motivated in these cases. be that as it may. she filed the charges. there is obviously issues with what, how he presented the numbers. and it is, it is going to take a political to. neil: why did her office say that this was worthy to consider down the road, criminal charges and yet, another couple of investigations they did not? >> well, wait a second. she is saying it is worthy of criminal charges. why didn't she bring the criminal charges up to the irs. she will bring it to the irs. >> trust me on this one, the

new york state attorney general's office has broad powers to bring criminal charges against any entities, financial entities in new york state. you can bring them under something known -- neil: by not doing that this smells a little more political? >> for her kicking it to the irs, if she thinks there is a criminal page, is absurd. under the martin act you can indict someone stealing a bagel. that was the big thing eliot spitzer held over the heads of all the wall street firms over those years, if you don't settle with me, pay me a billion dollars for these alleged crimes, i could i can indict you under the martin act that forced them all to the table. now the difference between trump and wall street firm, a wall street firm is publicly-traded, right? their their stock got crushed under potential indictment. donald trump is private citizens. private citizens fought back against this office, including dick grasso, ken langone. neil: you're absolutely right

get a sense where this thing is going. there are 220 pages a lot to this, better than three-year investigation we're told that dates even back when he was president. so they will look through a lot of stuff but often times as you and i discovered just going through company reports, what have you, it can often times be in the eye of the beholder. you know, companies miss things or overstate things or understate liabilities. so is that a deliberate act, is that a criminal act? or is that just in the moment we went with the best that we have? >> we should point out they have a lot of documents. it is not like they're going to go to trial and find something, a smoking gun so he gets a criminal case against him. i can only say this, neil, this is obviously taking a toll on the president. his ardent supporters will say it's a witch-hunt that will help him there. republicans, a lot of republicans particularly in leadership would like him not to run. that being said i think of all the thing he has got to worry

about okay, which includes a lot of stuff with january 6 and obviously the taking the boxes with the classified information and who knows what's in there, i think this one is not, is not the most damaging and only because it's so blatantly political, since she admitted it, she ran on the notion. she has a history of doing political stuff -- neil: political that can be in the eye of the beholder. charlie, i want to thank you very much. step back whatever views for you on the subject. for those just joining new york attorney general tish james filed a wide-ranging civil lawsuit against the former president, trump organization, three of his children, former financial figures there for fraud and misrepresentation. as charlie also pointed out, that can often be in the eye of the beholder, if she would make a criminal referral to the feds why wouldn't she do that herself? leaving it to the irs to

consider a criminal charge possibility, would be falsely inflating the value of what you hold, deflating the costs of your liabilities or the amount of your liabilities here. there is a lot of stuff that is in the numbers and the weeds here. suffice it to say the trump organization has responded saying this is essentially bull. that this is a political witch-hunt added to so many going on concurrently. we hope to hear more. we hope to delve into this more. talk to some top league eagles for implications of the former president even if it stops a potential presidential run. does not look like it would be the case. there might be other factors that would dissuade the former president giving it a third go from the white house. we'll keep you peted on that. also keeping you posted on big wait for another big hike t could be our third big interest rate hike, 3/4 of a point they're betting upon and right now seems to be baked into the cake and markets for now just that level alone, kind of okay with that, again what jerome

powell has to say in a couple hours as to future moves and you know, dealing with that balance sheet, picking up the steam and sort of finally unloading securities that they have been buying up to prevent another melt down. right now fears that what they're doing could create one. stay with us. you're watching fox business. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description.

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♪. neil: all right, maybe it is just a sign of the times but how the markets see things going later today when the federal reserve will probably make it a hat trick of announcing 3/4 point hike. the two-year treasury yielding north of 4%, i believe the first time we've seen that since 2007. don't hold me to that. we're seeing the 10-year in and out of 11 year highs as well, again anticipating it would seem that this is the way we are going but it's too early to tell and too early to say whether even those rates are justified in this environment. happy to have right flower rin gibbs with us, main street asset management cio, mitch rochelle, macro trends advising partner llc. good to have you. with this president trump

financial news, erin first on the financial news to most americans, the cost of everything goes up because the price of everything keeps going up. the question is how much, how long. >> we're looking at, one of the things i'm sure part of the press conferences, what is the termination rate? meaning how high will the fed keep racing rates before they start bringing it down and how many times will they raise rates? will this continue six months, another three hikes, so on? those are the details that wall street and even, just everyday consumers should be worried about or concerned particularly when it comes to your borrowing rates and how far is this inflationary, how far is inflation going to really take you. neil: you know, they started this what in march, right? >> yep. neil: has there been any measured impact on inflation? is there a delay effect? >> i don't think big move on inflation. i think the most important thing inflation is energies costs,

fuel costs at pump, 99 consecutive days gallon of gas going down but today it went up. the way energy costs, food costs trickle through everything else in the inflation basket. neil: there is always the risk in the middle of what you're doing you know you could overdo it, right? >> absolutely. >> i think that is actually somewhat happened. look we can't call it recession apparently but we've had two consecutive quarters of negative gdp growth. to the question you asked erin what i'm looking for powell to talk about is if the economy continues to slow down as a result of this approach of raising rates where are they going to pivot and do they pivot? i think that is probably what the press pool wants to know because we could find ourselves in a third consecutive quarter of negative gdp growth which is what they're trying to accomplish but what is the ramifications of that over time? neil: they are also going to announce what they're doing or spell out a more detailed tapering, unloading treasury

securities, mortgage-backed securities, everything they have been scarfing up over the last decade, right? >> yes. neil: selling them en masse or not letting them renew. that could be more of an impact than any rate rise, right? >> right. because what it means there will be more bonds out there. i know tapering sounds like we're doing less. it actually means, which means bond prices will go down there are more bonds, less buyers. there will be cheaper prices. rates go even higher exactly. neil: that will drive up rates still more? >> exactly. that also creates volatility because if you have lots of bonds that aren't being bought prices can move around quite a lot that means rates get volatile. that means the stock market gets volatile. it is even more so. there are just a lot of impacts when it comes to adding a lot of bonds in a period where we're not really sure the buyers are out there. neil: you know what is interesting, mitch, i know real estate is particular strength of yours, existing home sales down,

seventh straight month, not as bad as we talked mortgage applications ticked up in the latest week but they're still relatively soft. where are we on housing right now? >> first of all i have been pretty vocal on this network that the housing crash isn't happening, stop waving the caution flag as hard as people have been. so i have argued with them, with many -- neil: what should run the other way. >> what is important to recognize about housing in today's number of existing home sales it is not necessarily the way that home sales impacts the economy from that sale transaction. it is more when people buy a house they put stuff in it and we have to remember that our economy is driven by the consumer and personal consumption is 2/3, 3/4 of the economy depending on the quarter if people are not buying homes, that means they're not buying stuff for their homes that is the real knock-on effect. one thing i say about housing, rents are going up like crazy.

neil: yes. >> even though it may seem to be incongruous in rising interest rates people will run away from buying homes, if rents going up faster pace than interest rates, that is the only other alternative, i think people will stay in the home purchases market. neil: even in the hot markets, you know florida quite well, do you see any signs there that it is finally kind of running out of breath? >> i will recuse myself talking about the sale of my in-laws home which fell through over the weekend. i will not talk about that. maybe i just did. listen, you can't ignore, i brought this because of you, neil. you and i always talk about people living in florida. that great migration of florida -- neil: talking about the cover of "new york post." "the great escape." leaving high tax, high crime new york of sunnier skies of florida. it is alive and well. >> it is alive as well. it may not be hot metaphorically

speaking. neil: i saw what you did there. >> but it is basically warm. neil: you hear to mitch's point, people are bumped out depressed, houses will crash, my 401(k) is a 1. 01 k, how do you see things going? >> it is not dire because the fed would not keep raising rates. we have unemployment at relative lows. we still have more jobs than people looking for jobs. we still have wages going up though obviously not as fast as inflation. so that's the reason that the fed believes that they have this cushion to raise rates so much. and particularly by 3/4 of a percent. so yes, certainly the wealth effect, if you're looking at your 401(k), that does make you feel like you want to spend less, which is actually what we want to do. we would like the consumer to spend a little less to get inflation down but overall we're still in a pretty stable position with positive outlooks

for the next year. neil: fingers crossed. don't wander too far, guys, want to pick your fine brains. to update you we're waiting for news hour 1/2 away and news from the federal reserve chairman how he will unload securities that could back up rates more. give you an update on donald trump and his three kids hit by a federal lawsuit for better than $250 million for cooking the books. we'll have more after this. ♪. research shows that people remember ads with young people having a good time. so to help you remember that liberty mutual customizes your home insurance, here's a pool party. look what i brought! liberty mutual! they customize your home insurance... so you only pay for what you need! ♪young people having a good time with insurance.♪

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new york says that the trump organization committed numerous acts of fraud between 2011 and 2021. the attorney general letitia james now is asking the court in light of these revelations, these are her revelations her team, announcing these charges, doesn't want mr. trump or any of his kids from serving as officers or directors, forget of the trump organization, any new york business. the former president's legal team, the trump organization itself denying all the charges of the saying that there is essentially nothing here but again, this accelerates here because it starts looking into the financial transactions, real estate transactions, valuation of properties, liabilities on those properties, that as i said goes back a decade or more. so very, very tough to get into and then prove which is one of the things that has been noted here, that these are civil charges for the time-being although the attorney general

can recommend criminal charges and may be focused on the irs criminal division to do just that. brian claypool joins us right now, civil rights attorney. brian a lot to get into here. your thoughts? >> neil, great to be back with you. anytime you get sued for what, a couple hundred million dollars if not more for civil fraud, and you are risking being able to run a business in new york, in new york, there is a lot at stake. so putting aside any political arguments on either side president trump's legal team has to take this extremely serious because as you said there is not, there is no criminal charges yet but kneel what happens is, when you trigger a civil case, that opens up a lot of mechanisms to do discovery. a lot more subpoenas will get issued. like you said a lot of financial data will be investigated, and, more important there is going to be depositions taken under oath

and that could lead to potential evidence that might bolster any type of criminal investigation. neil: you know, we're told that they were looking at a settlement, brian. that the trump organization, maybe the former president himself was pursuing this as recently as a month ago. i don't know what fell apart or who made it fall apart but what do you make of that? >> you're referring to a settlement? neil: yes. >> yeah, i'm not aware of the settlement but, are you talking about the other cases? there are another case going to trial? neil: i'm sorry to, settle this or try to solve this. i guess the reason why i ask is this sort of etched in stone? in other words is there still a possibility here because these are very tough things to prove, particularly when you get into the intricacies of a company, particularly a real estate company where valuations can, and often do change, markedly, sometime within a matter of

days? is this a tough thing to prove period? >> that is a great point. i was just thinking about that. if you can imagine, for example, valuations of assets, right? that is really at the heart of this lawsuit. how much do you value a piece of property or another asset. in many respects that is kind of subjective. i mean think about it, when you buy real estate, hire an appraiser that hopes to give you something favorable to you, right, in the transaction. that is pretty subjective the attorney general will have to have more evidence than that, neil, because as you allude to, proving fraud, the most important element of proving civil fraud what is called intention to deceive, intend to deceive. think about that, that is a hard burden. you have to show somebody is knowingly making false statements f this boils down, i had an appraiser an asset is worth this, gee, it is not worth that, that doesn't amount to fraud.

so the attorney general has to work on that. neil: where do you see this going? if donald trump running for president again would even these charges stop that? >> yeah the charges aren't going to stop that but you raise another good point which is resolution, right? this is a civil case, not a criminal case. so in a civil case you can agree to a settlement. have somebody come in for example, have to mediate a case, agree to pay for example, certain fines and certain penalties. if i was trump's legal team i would certainly try to explore that. why? because of what you're talking to with the consequences related to running for president, for example. this is going to be another distraction. this is time-consuming, neil. as a trial lawyer, i'm telling you cases like this are extremely time-consuming, not only for the lawyers but for the clients. that takes away from trump focusing on running for president. so his legal team is going to

have to weigh, what is the opportunity cost of fighting this case? that said though, is the attorney general going to be in a place where she wants to pursue a settlement? maybe she really wants to take this to the mat because you know, trump risks running a business in new york city. not going to stop him running for president. if she is not willing to sit down to try to settle. they will have to gear up for litigation. it just doesn't look good for the optics if trump is going to be running for president. neil: so dumb question you can help me with this, if you're indicted, regardless whether it's a justifiable indictment or not can you still run for political office? >> yeah. you can run for political office because an indict means that you have been charged with, an indictment is for a crime. here we're still at the civil stage but make no mistake about it, neil, we don't know whether this civil lawsuit is being used

as a, as a conduit to try to generate evidence that might lead to a criminal indictment, right? because you can get a lot more discovery done in the civil forum that often leads then to potential criminal charges. but even with that said, an indictment is simply, hey, there is enough evidence to charge you with a crime. that is not being, not even remotely close to having enough evidence to prove beyond a reasonable doubt that somebody committed a crime. trump can still run for office. think about it, these lawsuits, neil, we have not talked about this, they take a lot of time, right? they could take years and years. even if you get indicted, criminal cases i have seen in l.a. county have gone on for three, four years, before there is any kind of trial. so i don't think an indictment is going to risk trump running for office. neil: we'll watch it closely, brian claypool, civil rights attorney on that. nothing to indicate there is

anything here outside of the fact this has started off with civil charges. maybe they can down the road have criminal charges, recommended to in this case the irs criminal division but as many have pointed out, our own charlie gasparino among them and a couple of legal analysts were saying why wasn't that considered in the first place? could that mean a deal could still be pending? hard to say this, donald trump his legal woes continue. so far no impact at the corner of wall and broad as investors continue to bid up stocks even in the face what will likely be a 3/4 point hike in interest rates. ♪ if you shop with the walmart app? you know everything you need is right at your fingertips.

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♪. neil: all right. it is already walloped puerto rico, the dominican republic, set its sights on turks & caicos, now potentially bermuda. hurricane fiona living up to the name, category 4, i should say,

where is it going now? what is the story on this one, the hurricane season all of sudden heats up out of nowhere. rick reichmuth on that. >> neil we hardly had a hurricane season on a year we thought would be active but it hardly as been but it is beginning to heat up. this is fiona, category 4 hurricane right now. the impacts continuing to do with puerto rico, that will be long-lasting, that will be the biggest impacts from fiona. it pulls off towards the north, track, goes to the north, gets close to bermuda. bermuda is adapted to hurricanes because they get quite a bit of them. it's a small island. it's a needle in a haystack. it will be towards newfoundland. hurricane watch for bermuda, if it veers to the east it will have bigger impacts. what happens in a wind gust forecast.

by thursday night we start to see impacts. maybe by friday morning we could see wind gusts in the 90 mile-an-hour range around bermuda. the storm staying far west of it. most of the guide this will stay farther off. now here we are, i want to talk about a couple other things. we're seeing a lot more activity here. this is 90% chance of development a storm we're watching just to the east of the lesser antilles. watch what happens, our guidance showing something will develop here. over three or four days that has rough conditions won't allow it to develop. once it gets into the when caribbean will be a developing storm. we can't count any impacts from the u.s., early part of next week. a lot of time to track this. but one we're going to be talking about, neil. neil: thank you, my friend, very much. rick reichmuth. stock market up about 140 points. ray dalio on the wires saying right now, whatever happens though, u.s. reis still arriving

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president biden: this war is

about extinguishing ukraine's right toe exist as a state, plain and simple and ukraine's right to exist as a people. whoever you are, wherever you live, whatever you believe, that should not, that should make your blood run cold. neil: all right, know equivocating from the president of the united states speaking before the united nations general assembly, what you see, what you're getting. you're seeing worrisome developments from vladmir putin who apparently called up 300,000 reservists what i calls the good fight in ukraine this is in addition to the 137,000 soldiers he called up stationed all over the world to get to ukraine and help that cause out. lieutenant colonel danny davis, defense priority senior fellow, a military expert, a war hero himself. so, colonel what do you think of what the president is saying, preparing the unite the nations, and maybe those who are supporting this effort on the part of ukraine to fight the

russians and might be saying this is getting a little long in the tooth, financially draining for us, to keep up the good fight what did you think of that? >> that may be what he wanted, i think it is important, i think it is positive from our perspective as to what he didn't say. he didn't announce any kind of new counteractions or any new programs we would do, any way to further escalate it from our position. he talked about how bad it was. who would disagree with that characterization, look, we have to understand, putin because of what happened in that kharkiv attack where they suffered a significant psychological loss if not a military one, putin is now desperate. we talked about the last time on our show that putin had a lot of cards he had not played he could escalate this. now he has done it by the announcement of additional troop levels they're going up there.

in part of his speech though he also said something i should i think should concern us all, that he would use nuclear weapons if he felt his state was threatened that was a tacit warning, if the west elevates what it will do in response to ukraine in a worst-case scenario he may consider that. whether he would or whether he wouldn't, i don't know, but anytime we inch closer to the nuclear threshold, that is big problem for us and should guide our future actions. neil: to your point, to consider as an option is scary in its own right. colonel danny davis, thank you very much on these developments. wall and broad, stocks up 111 points waiting a little more than an hour from now we'll find interest rates have risen again. what is in the detailed statement from federal reserve chairman jerome powell, that is the where the focus will be. stay with us. ♪

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