i'm interested in receiving any response to my editorial this morning where i suggested that i would help a migrant on the street corner face-to-face, one-on-one, i would give them a small amount of money and a sandwich to help them out. am i right to do that? am i encouraging more illegality. pass judgment please. send your views to me. my time's up. neil, it is yours. neil: stuart, thank you very, very much we're indeed down 43 points and a lot has to do with reassessment of economy, home sales coming in stronger than expected even though the rate of home price increases started to slow dramatically from the pace we had. sort of a mixed bag. sentiment numbers show more confidence than americans generally have. but it is the hurricane now on everyone's mind, certainly in the sunshine state as ian barrels towards that state with expected arrival sometime tomorrow here.

getting a gauge how sweeping this can be, anyone's guess, charles watson in tampa. it seems to have a big ol' bull's-eye on it has more. charles. reporter: good afternoon, neil. tampa has not experienced a storm of that magnitude since 1921. we're talking more than 100 years. so safe to say they're not taking any chances with it. take a look at the sandbagging location we're at here in tampa. you can see folks hard at work getting sandbags filled up as they protect their property. hurricane ian approaches the west coast of florida. there are major concerns here about flooding. tampa could see anywhere of eight to 10 feet of storm surge. that is a massive wall of water that could be pushed inland. that is on top of up to 15 inches of rainfall that could be dumped here. city officials have a mandatory evacuation order in place for people that live in zone a on coastal areas. voluntary order for those living

in zone b. folks are taking it seriously. we've seen 300,000 people decide to get out of here this morning. governor ron desantis urging folks to get to higher ground. >> the current evacuation orders are pasco down to collier, over two million to evacuate to higher ground. if you evacuate to higher ground in a structure that is sound, you're going to be fine. reporter: so, neil, folks are going to have to make decisions whether or not they will evacuate pretty soon. as the storm approaches, that window becomes a lot tighter. additionally we heard from governor desantis 5000 florida national guard troops have been activated. they will being here to assist once hurricane ian makes landfall. they have also help from 2,000 national guard members from across the state. very serious situation out here, neil. neil: thank you for that, charles watson following it all. want to get an idea on the path of the storm what floridians can

come to expect, stephen morgan joins us fox weather meteorologist. what are we looking at here? >> it is fascinating listening to charles here, hurricane force winds as far as reconnaissance missions hurricane hunters have been out on, extend 35 miles out from the eye. the it moved over cuba overflight. we expect it to strengthen in the gulf of mexico. it is still a major category 3 hurricane. as far as we know this will be a devastating storm, rain, wind and affecting florida, but mostly west coast of florida. that storm surge will be a big threat. storm levels up to 12-foot the latest advisory from the hurricane center. widespread power outages because of gusty winds that could exceed 100 miles an hour. strongest sustained winds, 115 miles per hour. that is expected to continue to

strengthen. what about timing? we could see getting close to fort myers folks need to be prepared by 8:00 p.m. tonight. as we work through wednesday, here is the concerning thing too, and neil this is new from the national hurricane center too, tropical storm watches posted for miami-dade county, we could have the wind gusts as far east as the eastern side of the peninsula. they have extended now into jacksonville, florida. as far as ready, set, go plan, the entire peninsula of florida does not have to vac wait but those counties, those zones on western side, hillsborough, pinellas county, sown a need to consider packing up to move on out before hurricane ian moves in. neil: steven, thank you very much on that. update you on things that steven is pointing out here, maybe the better part of valor cancel as much as you can for the time-being. looking to do that the tampa international airport 5:00 p.m.

today to shut down. we're hearing reports that the miami international airport might move to abbreviated schedule. don't know what that quite means a number of schools on the eastern part of the state not in the direct path of the storm will be closed at an abundance of caution. that would include south florida, broward county, palm beach county, miami-dade canceling classes for tomorrow. the backdrop of this, something happening at the corner of wall and broad after a big runup had the dow up 400 points. something happened. connell mcshane, what happened? reporter: good news is bad news environment in the market a little bit. to your point stocks were up in a big way. looked like we would have a bounceback after all the selling we've seen. some of the economic numbers rolled in. funny enough they weren't table. you look at that, investors say the fed has to be even more aggressive than ordinarily would have to be. consumer confidence is an

example of that. really surprisingly strong, consumer confidence was. august reading 108 behind me. that is from the conference board. 108 compared to a expectation of 1 to 4.5. the simplest way to read into this, americans love lower gas prices, what we've seen, makes us feel better about ourselves, about our situation, when gas comes down in prices it has, confidence seems to go up with interest rates going up which could impact the number months ahead. we have a snapshot, what consumer confidence is. snapshot in time, lower gas prices a big story. confidence is up. housing on the other hand is really tough to figure out. we saw sales go up and prices really not so much. this case-shiller right now, the monthly figure they look at on price action in major cities around the country this is the first monthly decline in what they call the non-seasonally adjusted index since january of 2019. so early 2019 to see it down by 0.8%.

nationally prices were actually up by 15.8% from the year before but even there that is well below what we saw which was an 18.1% increase in the previous month. as a matter of fact, actually, fastest we've seen prices cooling off in a month ever in this case-shiller index. so that is interesting to watch going forward. then sales come in, new home sales, you get unexpected gain in august. july was actually revised higher as well. that is almost 29%. 28.8 on seasonally adjusted level we saw her. well above expectation t was supposed to be down about 2%. if there is one caveat here, probably say there is a lot of volatility in these monthly sales reads, and sometimes you see a revision but for this month, again surprisingly strong. if we try to bottom line this, neil, it is tough. on days like this, nothing is really certain. the market today is really turned around. i think part of it, you know, is that we started off so strong like we'll bounce back. now this data comes in a little better than expected.

we see that some days. other days you get some data looks like we're in real trouble in terms of the economy. nothing is really certain right now that is the kind of environment we're in, we see the quick changes in the market moves, neil. neil: yeah. one thing we're certain about, people certainly pointing fingers at the federal reserve whether justified or not. connell, thank you. my next guest is one of them. jeremy siegel, highly regarded wharton business school professor went out on a limb here to say the fed is essentially overdoing it, the fed in his opinion maybe owes the american people an apology for its policies? professor, very good to have you. >> thank you. happy to be here. neil: your, you're just fed up with the fed i guess but explain? >> that is an interesting way to put it. i've been angry at the fed for two years. the excessive monetary growth in 2020 and 2021 was inexcusable in my opinion and it caused all the inflation. and now they caused all this

inflation and i think they're moving too far in the other direction. your reporter was talking about those housing data. now the sales were okay but the housing prices, the federal index went down by the most in more than 10 years. case-shiller actually did go down on a month to month basis. i mean, home prices are going down. by the way, this is lagged two months. it has accelerated over the last two months. i see inflation going down everywhere, and the fed saying we got to be tighter for longer, i think can try this country into a recession, a deep recession. neil: so, by your math it is clearly overdoing it. we see central banks the world over, professor doing essentially the same thing. in britain they're looking at pricing in the next two hikes of 3/4 of a percent like here. we have had three in a row of that. european central bank of that mind. so it is global. are you saying globally central

banks are overdoing it? >> well the central banks, the other central banks are trying to catch up to us because, if they don't, their currencies are plunging. i mean, the dollar as we know is stronger than it has been in more than 20 years. so they're almost being defensive to prevent their own currencies from falling even more. it is not that they, you know, think they have to raise them that much but to keep their currency somewhat in line with the dollar and it is already depreciated to hurt their inflation. so, we're really causing them, forcing them to raise it, to keep their currencies from collapsing. it is, they're not leading this parade. neil: so you know, i wonder, too, i mean it is obviously affected peoples thoughts going forward how much higher we go because a lot of people fall back, professor, on the notion if the fed is looking for signs that inflationary pressures have eased they haven't found them

yet so they will keep doing it and in your math overdoing it so where do you see this going? >> what is really important, the consumer price index, it is constructed in such a way as it is going to be very lagged in getting the housing data in. it is very lagged. so we're going to see housing inflation, i'm sure for another six to eight months even though the sensitive indices we saw this morning, case-shiller and the federal home index, have actually shown a decline. so, when chairman powell says, until i see inflation come down 2%, well what he is looking at? is he looking on the ground prices? we see what happened to oil, commodities, now housing going down. there was a headline today in "the wall street journal" saying for the first time rents are going down. now they're still way above a year ago. neil: right. >> but going down for the first

time since the pandemic. i don't know why we don't have jay powell say, listen, i see signs that are already we're slowing 24 economy instead of, you know saying the sky is the limit and we'll keep on raising that is what worries me. what indicators is he looking at? if he is looking at constructive indicators, it i going to be overdoing it. neil: i apologize. a lot of people say, professor, that powell found his inner paul volcker, and he made this his mission to wipe out inflation no matter the cost. paul volcker didn't aggressively full the markets raising interest rates often times a full percent at a time, let alone at meetings but between meetings. your own views notwithstanding and concerns, how far do you think this goes? >> don't forget volcker was in a

much worse inflationary situation than we're in now. neil: absolutely. >> we were having eight to 10% inflation for almost a decade and interest rates were sky-high. inflationary expectations by both surveys and market based were much higher today. in fact market-based inflation and expectations going forward have come way down from where they were six, 12 months ago. so he doesn't have to -- pull a volcker, the interest rates, what is happening in the sensitive commodity markets and housing markets are showing how strong the effects already is. neil: you know the backdrop for this is still pretty steady job gains professor. that is one thing the administration points to, a number ever economists point to, we're in a lot better position economically than back in the carter years, some inflation rampant at the time. that is a positive sign but this fed seems to look at that as the problem, not the answer and that

coupled with more government spending, trillions of dollars in various stimulus efforts or new climate change legislation and the like, that that is part of the reason why the fed is full throttle with this. what do you think of that? >> well, yeah, i mean, i agree with that. in particular i would, chairman powell has not addressed, you know, he says that the labor market is too hot. he looks at something called the jolts data which is job opening and labor turnover, comes out once a month. he quoted it many times. a year ago, it was just as tight and he said i see no inflationary implications. another problem is the fact that we've had 3 1/2 million job gains this year yet gdp has gone negative. we've never had that in our history. i would like chairman powell to try to explain it. is the economy roaring ahead as

he claims or if we look at gdp which is obviously one of the most important of all aggregate indicators it is actually been negative in the first two quarters of the year and this quarter which is ending in a few days, they say it will be half a percent or less. how does he explain that? all these problems he has not addressed while undergoing extraordinarily tight monetary policy that i think threatens even further declines in gdp. neil: professor, i think the fed chairman could benefit from a couple of your classes so we'll see what happens on that. professor siegel. >> i'm trying to get my feelings and my message across and i hope some of the fed officials listen to them and take them to heart in their november meeting. neil: i'm sure they will because unlike a lot of professors your english is quite clear and we can understand exactly where you're coming from. so i envy your students. professor jeremy siegel.

thank you very much. >> thank you for having me. neil: maybe what he outlined why we're speeding up our selloff right now. the dow down 168 points. something else to worry about, i know i'm hitting you with a lot, we might have a government shutdown. you probably heard this before but this one almost looks like a guarranty. i will explain why after this. ♪. (vo) while you may not be running an architectural firm,

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neil: i guess i am surprised though, senator, that this has escalated to the point it has between you and mitch mcconnell because he is spending an inordinate amount of time complimenting what a great senator krysten sinema is of arizona, one of the best first-term senators he ever has seen. they seem too have bro senate, but he never messengers your name anymore? >> you can be a hero one day and a villain the next within 24-hour period even shorter. i understand that. neil: but even in your own party, how do you feel like

you're odd man standing here? >> well it is. you know what, the bbb was a bad piece of legislation for our country. neil: build back better. >> build back better, 3.5 trillion. i didn't kill that bill basically because i was trying to help republicans or hurt democrats i personally couldn't get there. it was too much i said that. i was a hero then. save america. krysten sinema is a good senator. i enjoy working with her. i enjoy working with mitch many times. i don't hold this. we have differences disagreements. it is over. it is not personal. he has been here long enough to hopefully know that it is not personal but he will have to make that decision, not me. neil: all right, whatever you want to call it personal or otherwise, it is pretty nasty right now. joe manchin is getting heat from democrats and republicans over this push that would expand typical oil permitting and the rest. there are a lot of nuances to it but he wants to attach that to a measure that would keep the government open.

that is proving easier than done. unless it is resolved and soon we could look at a shutdown on friday. chad pergram following all the fast-moving developments. where are we in the drama, chad? reporter: there is test vote on permitting by joe manchin. it needs 60 yeas, but if that fails it risks a shutdown. >> i think this is a one and done. you have a chance tomorrow to start this process to basically get permitting reform done for the first time in decades. they will have to explain why they would rather shut the government down than have secured, independence as far as energy. reporter: manchin insisted that senate majority leader chuck schumer velcro the permitting provision to the government spending bill but schumer could be forced to take it out to avoid a shutdown. manchin faced bipartisan opposition. republicans don't want to give manchin a win especially after he supported the democrats spending bill in august. others didn't like the senate taking the lead to approve a

solitary pipeline important to manchin. >> if we go down this path, in my view, it could open the door to serious abuse and even corruption. imagine if the senate of the united states starts stripping jurisdiction away from courts because we don't like your ruling, so midstream we'll take it away? reporter: the house could move on its own spending bill if the senate stumbles tonight. >> let's see what happens in the senate and then we will deal with what we have to do in the house but i'm not speculating on what we don't know they will send over. reporter: gop members could support a bill with a manchin provision stripped out. the bill includes $12 billion for ukraine. it funds the government through december 1th. neil? neil: chad, thank you for that, chad pergram. i want to go to carlos gimenez, republican south florida

congressman, house transportation infrastructure committee. first off, what do you see and hear for your folks back home, obviously this hurricane quite properly should be the front and center attention. what is the latest? >> we're all battening down and he especially the area of tampa, fort myers. they're ones really right now seem to be in the cross-hairs. neil, really critical of where that, the center of the storm actually crosses f it crosses south of tampa, it is good news for tampa, even though they get really strong winds and all. they will not get devastating storm surge we fear for the tampa area. then again that means fort myers may be the place where the storm surge really comes in. it depends where the storm will come in. it will also linger apparently in the middle of the state. it is dumping right now massive amounts of rain here in miami-dade county and we're pretty far away from the storm. it is question of when, the storm surge which is the biggest killer, how long it will linger

over the state dumping tons of water on us. so you know we're hoping for the best but we're also prepared for the worst. neil: that's is a good policy to have there. as a former miami-dade county mayor yourself you're probably aware that the county palm beach county and broward county are shutting down schools tomorrow out of abundance of caution. i'm sure you agree with that but there are a lot of people in your state, congressman, probably in your district as well, they have not seen anything like this, particularly the millions who moved to florida oaf the last few years. maybe a lot of floridians themselves who haven't dealt with something like this what, 2017, are you worried they're a bit too complacent or could be? >> i'm not sure about that. time will tell we put out, the governor does a very good job, the state does a good job warning people exactly what they need to do, how you to get prepared. need at least three days of

food, water, medicines, all that to be self-sufficient for at least three days. if you're in the path, especially if you're in the path of a storm surge you need to evacuate. and so we put that message out loud and clear to everybody that lives here. hopefully they will list 10:00 to their neighbors that are veterans of hurricanes and do what they do. florida is the best-prepared state in the nation for hurricanes because we get them. you know, that is the price of living in be paradise but again those northerners, everyone else fleeing blue states come down to the free red state, they need to heed the warnings do what the government officials are telling them to do. neil: congressman, you're kind enough with a crazy day with a lot on your plate, the market is down again 200 points. the president likes to boast he doesn't focus on the stock market. that is not a so veiled shot at his predecessor who spoke about the markets every day but i

wonder what you think of that? should a president be looking at the markets? the typical argument you hear from the white house, others expressed this in the past it isn't really main street, it is wall street. what do you say? >> well, it is main street. so many pension systems are tied to the market and individual savings tied to the market, 401(k)s, et cetera, that is a creation of wealth, for a president to say i don't really care about the stock market, since the stock market lost trillions of dollars of value for real people here in the united states, i think that is kind of controlled and really not tied to the real think real di of people retiring these days. you can't retire on social security. a lot of people, probably a majority of people have other ways how they're going to be saving unfor their retirement. the stock market is a huge part of that yeah, you should focus in on the stock market.

by the way the better america does, the better the stock market does. if you're not focused in on the stock market means you're not focusing in on how well america is doing. neil: you're quite well for that, pension funds teachers, firefighters, they closely follow markets so it is in their interest to do so. thank you, sir very much. best of luck back home. >> thank you so much. neil: to the congressman's point this is heading to florida. it really seems to be, that is ian, focusing on the west, gulf side of florida if you will. that would include naples, florida, directly in its path. we have the naples mayor here right after this. ♪. personalized financial advice from ameriprise can do more than help you reach your goals. wow... we can make this work. it can help you reach them with confidence.

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>> store shelves are totally empty. people are starting to panic. >> it is crazy right now. people are crazy. all the flights are insane. there are no flights. >> people are just scared. you know, really, because you just don't know. >> we fly everything in from outside this morning because of the wind. >> where are we going to go, what are we going to do? >> we know it can turn any second to take a different direction. not really where it hits. more of the storm surge. neil: all right, well all floridians getting ready since in the state of hurricane watch, under warnings, general statewide emergency here. we have teresa heitmann, mayor of naples, florida, directly in. mayor, how does it look there? >> well the path turned a bit for us but we're prepared and our citizens are, to me, very prepared and, from the streets being calm. people do have a tendency to

panic however i will just encourage them not to panic because their city is well-prepared and as long as they're prepared i just issued a local state of emergency and we will have mandatory, shutdown of all of our city buildings. so right now is the time to make sure you hunker down or take that voluntary evacuation because time is ticking and, we just want you to keep safe. neil: that is very good advice, mayor. i know when you talked about the path slightly changing, now it looks like, you know, ian is moving a little right ward, which is why miami-dade county is making the protective warnings that it is. i'm just wondering though, at what point, i know tampa has some evacuations going as we speak. what about in your area? into we don't have mandatory

evacuations. we do have a code red, for if the path changes drastically and comes at us which we know that the path can turn. so it will be a code red alert. there is still time to sign up for that in case we do have that type of an emergency that we were not aware of, but, we, we're now focused in riding out this storm. the surge has changed that is concerning. people who are visiting like to go down to the beach or to the pier. this is not the time to do so because tornadoes are the most dangerous thing that we face right now with that storm surge. neil: you know, mayor, your beautiful city has attracted northerners for years, those from cooler locales who wanted to seek out just a haven, low-tax environment certainly doesn't hurt so there are a number of people, maybe millions

over the course of the last couple years who migrated to your wonderful state, are now unprepared for something like this, to say nothing of residents who have not seen anything anything like this for the better part of five years. are they ready? >> we're blessed to have new people coming to naples. we have seasoned residents that are prepared and i think our staff, i want to commend our new city manager jay, for his leadership making sure messages have gone out to the community and we'll continue to update the community on our website but i think our citizens and our new residents are well-prepared. i know our financials, so that, when we go into recovery, you know, irma cost us about 6.7 million and we have 4.5 million set aside for emergencies. that is what we will be going

into immediately after the coast is clear so that we can clean up from the storm. and i would just encourage people to make sure that we are able to get that clearing of the roads and downed wires and get the coast is clear before you start venturing out and that is the most important thing right now because people should have either left or leaving immediately or hunkering down. neil: all good advice. mayor, thank you very, very much. the irma she was referring to hurricane irma back in 2017, the last substantial hurricane to hit florida. so for a lot of folks, even those who have been there, florida residents for quite sometime, all this seems a little new because it has been a while. meanwhile updating you on selloff on corner of wall and broad. down 189. it had been up 400 points. we got stronger than expected data which has some thinking

that the federal reserve will keep tightening. add to that the cboe volatility index, known as the vix is three month highs. some look at measure like that when fear hits a new high. that is sort of a moment where the reverse is true. if the fear is that pronounced maybe we're through the worst of it. then again maybe we're not. stay with us. ♪

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in this country they're not rising as rapidly, they are still rocketing up better than 17% in the latest period here and that is a trend that a lot of folks expect to continue. kelly o'grady following all of that and possible solutions as we see even more problems. kelly. reporter: we're bracing for a long winter ahead and this will make things even tougher. families are struggling with inflation at the grocery store, at the pump, now you will simply struggle to keep your mouse warm. on average, costs 1025 to heat your home last year. this year prices are expected to jump 17% that brings you over to $1200. depending how you heat your home, if you use oil, looking 2100 on average. the concern becomes how will americans make ends meet? the winter is tight time for families with the holidays. we experienced soaring electricity bills with summer heat waves. we're seeing warning signs.

new bank of america poll says 1% of respond incidents missed a utility bill to difficult. energy experts warn this will only get worse. you're putting millions of lower income families in the difficult position where they have to decide between paying food and rent in many cases. paying 175 more for the season could be the pressure that forces budget cuts simply to stay warm. don't expect much relief. natural gas prices are expected to say elevated with the war in ukraine. you mentioned at the top, look what is going on in europe a chilling warning. solutions, utility companies are shares tips how to conserve energy. have an inspector clean heating system, led bulbs what about folks that can't do that, living for paycheck to paycheck? they're not looking for tips, neil. they're looking for low prices. neil: they are, kelly. learning from the administration those affected by the hurricane

in florida, there will be gas relief. this is nothing to do with utilities, if they can't find gas to short supply fema is coming to their aid. i don't know if they hand out the gas. we're monitoring closely. doesn't have anything to do with utilities mentioned. something we're monitoring as jonathan hoenig, jim bianco, two market pros. i was thinking as kelly was going through this utility bill emergency what effect rising interest rates would have on that? you can't not pay your utility bill. for time being there are no rescues for people line on the bills. i wonder if raising the rates is even addressing increases like that, jonathan, what do you think? >> raising the rates are pushing up costs for everything, neil. that is the thing to keep in mind about inflation. it is not simply a rise in the cost of energy or foods. it's a broad rise in the price of everything due to government exexpansion of the money supply. this is vexing every american,

neil. it is costing the average american on order of $6800 extra a year. that is real money. real impact, what it costs consumers, but what it is impacting in terms of producers, new wealth, new innovations and jobs. the bond market is down about 14, 15% per year. that is the word reading on record. this will be a real headwind. one of the reasons, neil, 80% of stocks under 50 day and 100 day moving average. if that is not a bear market i don't know what is. neil: hint of stronger than expected economic news on the home sales front or slightly higher than expected consumer sentiment number is all the market needs to sell. that is a bad attitude market and i'm wondering if that is also close to capitulation market? i mention that because the volatility index, the vix as it is better known is in and out of multi-month highs here.

usually that is a reverse signal, maybe a buying signal. where are you on this? >> you know, when you look at sentiment, you look at whether or not there is capitulation in the market you do have to come to what jonathan said is this a bear market or a bull market? if this is a bear market you could see sentiment go to a apocalyptic or suicidal levels. in other words, this will not be the end if this is bear market. opposite in bull market. euphoria, fomo, tina, i think this market is going to continue to struggle and it is going to continue to be a source of frustration for some time until we get these basic questions answered. is inflation peaking? is the fed going to pivot? are earnings going to survive this period as we move forward? if the the answer to those quess is no appears now, the market

will continue to trade sideways to lower and it will be very volatile. neil: you know, guys, we had wharton professor jeremy siegel who says the fed's the american people an apology. he is not alone. we're hearing from a number of former china central bankers that the fed is leading the world into a much tougher environment. from elon musk himself, it is obvious that the fed in his words, quote, is tanking the economy. whatever your views on that some folks are beginning to say the fed is leading us into financial armageddon here. what do you think of that, jonathan? >> well, neil, the fed is reacting to what government did. government, it causes inflation. so back then years ago, when people were debating do we want to send out checks for 1500, 2,000, $4,000? all the trillions of dollars of money printing caused inflation the first time. milton friedman said it best, neil, there is no such thing as a free lunch.

the fed is behind the curve. interest rates are rising a long time before the fed even got on the track. so the money has been spent, the money has been printedded all of the americans and worldwide are paying for proof la gaat spending in -- profligate spending in d.c. neil: i talked to a market player, i talked to the other day on the phone, doesn't come on tv a lot, one thing to lose confidence in the president, that happens a lot but when you lose confidence in the chairman of the federal reserve, and federal reserve by extension that is a lot more dangerous, what do you make of that? >> it definitely is. the question lose confidence in the fed how? are we losing confidence in the fed or ability or resolve to fight inflation or are we losing confidence in the fed they're not really serious what wall street calls the fed pivot? that is the crux of the

question. i'm of the opinion, that yes, i'm with dr. siegel, the fed made a terrible mistake, maybe one of the worst ever continuing to stay easy last year fostering inflation. i'm also with him that inflation is probably peaked at 9%. it better or we're in a world of hurt but i'm not with him arguing that we're on our way back to 2%. i think we're on our way back to a much higher level, maybe four, maybe three, maybe five is where we'll go with inflation. if that is the case the fed is right to have this resolve in fighting inflation. now if they waiver on this in any way, we lose confidence in them. then the market will lose confidence that inflation can be brought under control. that is not a good place to be. neil: certainly not right now with the dow down 161 points as the selling ensues. we'll have more after this. this isn't just freight. these aren't just shipments. they're promises.

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center a prospective reservist shot the guy who was trying to recruit him. it is playing out across the country, where lines to get out of the country are forming across the peppered russian border. chris christian whiton, former trump official. this sounds like a countrywide result when you hear of these incidents. they keep popping up with protests. should vladmir putin be worried about this? >> he should be worried. a question how much he should be worried. this is beyond the liberal european leaning elites in moscow and st. petersburg. you are seeing protests across the country where people had to shoot bullets in the air above protesters to clear the road. this is a different turn. probably why putin took seven months into the war to take this step. there is never official start of russians for war and tools of

oppression available by putin are pretty strong. some of his supporters wanted this moment to come and he was too soft and should have mobilized long ago. this is something he wanted to avoid and something he decided he has to take. neil: do you think he could be overtaken? in other words, there could be a coup? >> it's possible. it is extremely unlikely. we have seen a lot of assumptions made in the west what keeps putin in power like billionaire oligarchs, where we're stealing their yachts, seizing their yachts, even though there is not a legal due process, those people may have been important to putin earlier in his tenure but not anymore. so -- gorbachev or yeltsin where you see a pop-up coup but if i had to put my money on it, frankly if you look at the g7 which has been strongest against putin he will outlast most of the leaders around that table. neil: christian, i appreciate it. apologize for the truncated

time. we're following hurricane to hit florida. the orlando international airport saying it will close tomorrow. the airport in tampa is expected to close later today in about four hours. miami on abbreviated flight schedule. don't quite know that what that means, whether entaining closing especially now with the storm veering potentially toward miami-dade county. stay with us. wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect. ..

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