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just use this...or this to call unitedhealthcare about an aarp medicare supplement plan. >> cheryl: welcome back to a second hour of cavuto "coast to coast" i'm cheryl casone in for neil cavuto today. we are following the brutal aftermath of hurricane ian where floridians are beginning to gather the pieces of what was left behind after the category 4 hurricane battered the southwest coast of the sunshine state. we'll be hearing from country music artist jay allen, whose supposed to get married this weekend in fort myers beach now planning to instead give back to the devastated community and republican florida attorney general ashley moody joins us to deliver her warning to looters

trying to take in her state. you won't want to miss that interview, but first we start with madison alworth in northport, florida with all of the latest conditions there. madison? reporter: hey, good morning, cheryl. so like you said we're in northport this is an area hit by the hurricane but really devastated by the flood afterward. we're at a fema site where they are distributing materials. i'm going to step to the side so you can take a look. cars have been pulling up in a constant stream. there's not been a lull for the hours we've been here, depending on how many people are in the vehicle each person can get water, a meal, and ice, these people that we've been speaking to, they say that they desperately need it because many are still without electricity. take a listen. >> it's hard for us to get around and a lot of the stores aren't open yet, or if they are, the shelves are empty. >> no electric, no water, they are just saying now hopefully it l be on by friday where i live, so just hoping for the best.

reporter: you know, cheryl, we spoke about i spoke about that flooding as well. this is because this area is by the myoca river so after the hurricane you had entire areas flooded,i-75 shutdown in a part of that and we spoke to a nurse trying to get to work on friday. her truck was picked up and brought over into a ditch. she was lucky to be saved, but she said things were really scary. take a listen. >> there was water around my ankles so i climbed out the window and got to the roof and made my way to the tailgate. reporter: you know, miraculously , cheryl, she had someone a couple cars behind her , that happened to be traveling down from crystal river that's north of here. they had a power boat. they were able to come in and save her, about 30 minutes later , but that was just a good civilian. this is a fema site. you have some volunteers here as well, but that's kind of the message we're getting. this is a combination of federal , state, local, and then just volunteers trying to help

their neighbors. some back with power doing fine. others maybe not going to get power back until friday. cheryl? >> some until sunday we heard earlier madison thank you very much we appreciate that live report. well, what was supposed to be one of the happiest days of their lives torn apart by hurricane ian. country music artist jay allen and kelly morgan were planning on getting married over the weekend in fort myers beach before the category 4 hurricane devastated that area. now, jay is planning a benefit concert, and jay allen joins me now. jay? oh, timing, obviously, for your wedding, but fort myers, this area is close to your heart , as well as to your fiancees heart. talk about what you went through >> yeah, we're actually supposed to get married object 1 so just a couple days ago. we've been going down to fort myers for years. it's our home away from home. we started going to island hop per fest performing a couple years back and fell in love with

the area so when my mother passed away, a lady stepped up and filled that role of mom for me and they actually own the wedding venue that we were supposed to get married at but it's completely gone, so instead of planning for a wedding, now we're planning for a relief concert here in nashville, hopefully we can send a lot of money back down there to our home away from home and help out >> cheryl: well certainly and not just personal for you but really personal for your fiancee apparently, she lost her home in a tornado when she was 17 so she knows firsthand what it feels like to lose everything. >> that's right. i mean, that happened to her before i even met her but she still has ptsd from it so when this happened i could see all of those emotions and feelings come back and we feel all those things but even though we're not down in fort myers we feel all of it. it's just hurt us and so many people we love and all we can do is try to give back and help as much as possible. >> cheryl: it sounds like

you're obviously still in contact with a lot of folks there. what is their direct need? i know you'll be doing this benefit concert and obviously funds will help, whether it's from your benefit, american red cross, united way, we know they are all on the ground there, but what do people need right now, those folks you talked to that you're in contact with? is it power? is it cell phone service? gasoline? food, what's the biggest thing? >> it's all of the above honestly. so we're in direct contact with the woman's club down there, if you go to their website just search the woman's club, and you'll find actually all of the links that you need so go there and click on the links and you can give. they are sending money directly like i said the beach, some of our favorite restaurants, bars, venues, places we've performed at are just gone. the cottage which is there for 71 years we know the people that own it. they sent us pictures. it's not even there. there's no damage, it's just gone. so if you would look up the woman's club and then click on the links that are available

there to give back. >> cheryl: well what about your wedding? i'm curious, are you going to reschedule? are you going to wait? find somewhere else? what are you going to do? >> yeah, we're continuously planning a new wedding while also planning this relief concert. it's pretty stressful, but you know, we're going to do everything we can, so i think we've already found a new date and we might try to actually get married down in florida in a part of florida that hasn't been affected by this so florida is very very special to us. we're do everything we can. we'll be posting on social media about this relief concert very soon. >> cheryl: we want to support you so is there anything you can tell us about date or timing or still working that out right now? >> we already landed on a date it's october 17. that's a monday here in nashville at whiskey row and it's at 6:00. we have a pretty stellar lineup, myself and kylie morgan, my fiancee performing as well as walker hayes just confirmed so i think we'll have a packed house so please mark your calendars if you're in the area in nashville, october

17, whiskey rose, 6:00 p.m. >> cheryl: got it. well, again, sorry to hear about your wedding but i think it's great what you and your fiancee are doing to give back to that community. it's going to mean a lot to the people down there really hurting right now. jay, thank you very much. >> thank you for having me. >> cheryl: well, switching gears, folks, to a different story we're following this morning. that's the market. we have got a rally. remember, today is the first day of the fourth quarter. it is the first day of the month we're taking it up by 625 points in the dow, s&p up 72 nasdaq up 171. there are still a lot of fears out there about a global recession. edward lawrence is live at the white house. he's been following that as we know, that of course president biden flying down to puerto rico right now, still at the white house, it's all business as far as inflation and of course jobs and the cpi. all of it coming out. edward? reporter: yeah, exactly.

business as usual, too, at the white house. they are holding on to the fact they can say hey the unemployment rate is near- record lows. he's also the president touting the fact that they have created 240,000 jobs above the amount of jobs added back from the covid shutdowns, but the president says that he empathizes with americans over inflation but he still refuses to change any of his energy policies, or economic policies. now, members of the federal reserve say that government spending has added in part to inflation so you have the policy out of the white house working against what the federal reserve is doing. the fed has to be more aggressive which could push other economies into recession. >> it'll take sometime for the full effect of tighter financial conditions to work through different sectors and to bring inflation down. so monetary policy will need to be restricted for sometime to have confidence that inflation is moving back to target, for these reasons we are committed to avoiding pulling back prematurely. reporter: now the u.n. is saying

that is also leading to possibly a global recession. now the federal reserve has taken the historic move of raising rates 75 basis points, three meetings in a row, 59% of the market believes we'll see another move in november aggressively raising rates as first and second quarters this year both negative growth. the federal reserve predicting a slower job market and rising unemployment rate. republicans blame this president >> people don't feel safe outside. why? because the democrats defunded the police and they elected woke prosecutors. that all changes in this. inflation, why? they spent $9 trillion. they raised the price of gasoline. when we could be energy- independent. they did all that changes. reporter: so we're clearly see ing economic slowdown in a number of the numbers here. the president, though, holding on to the fact that he is orchestrated enormous growth for this economy. back to you. >> cheryl: i have to point out on that graphic that we showed our viewers as far as the third quarter growth estimates atlanta

fed is saying it's going to be flat so i know we're going to go with this overall fed prediction but the atlanta fed, they are a little bearish down there in georgia. they have a different idea. we shall see. edward lawrence. we will see. >> thanks, cheryl. >> cheryl: let's get reaction from pig hedge fund manager and fox news contributor jonathan hoenig and let's stay with the fed for a second because obviously, fed funds futures change from day-to-day but at this point we're looking at a 57 % chance we'll get another 75 basis point hike from the fed when they meet in november, and as you know, that drives the cost of everything up. your auto loan, your mortgage, your credit card, and that again could be another hit to economic growth. >> well the economy was reeling before the fed started raising interest rates. in fact, cheryl, interest rates started going up before the fed started raising interest rates and the reason is not a mystery. it's because of inflation, and look, everyone would like to think that the fed is some type of a magician who can wave their

arms and all of a sudden all that inflation, trillions and trillions of dollars of money spending out of washington d.c. will just somehow disappear, but it doesn't work like that. there is no such thing as a free lunch, we're all paying for it despite the fed every american to the tune of about $6,000 a year because of this inflation and despite the rally today, it hasn't gone away yet. >> we got those personal spending numbers on friday. it showed us loud and clear the data said that people were going out and spending money on a new iphone, or on a new pair of jeans to pick-up on what stuart was talking about earlier they are actually spending it on food, groceries, healthcare, the necessities to get by, which leads me to my question about the markets and sectors we look at because if you look at some of the sectors rallying, consumer discretionary really is not on that list. that seems to be a weakness. the contrarian in me says okay, maybe it's time to buy some of those names. what do you say? >> there's a lot of pessimism cheryl so i think there's a time to look for bargains and

opportunities but also frankly be aware of the history. historically once inflation goes above 5%, it takes about 10 years to get back to under 2% so we're looking at 2031 not 2024 or 2025 before inflation ultimately gets under control, but if history is any guide to your point, there is opportunity out there. i mean from 1970 to 1972 the smart went up 50%, three years later it went up 65% so there are all places to make money but the long term trend for not just the market but for the economy is very weak unless biden and washington can get this inflation under control >> cheryl: with the mid-terms coming up a month away that could be the case. a lot of comparisons are being put out there they are a little overblown about the comparisons to 2008 and the financial crisis different time, different market , housing crisis, the banks, the loans, aig, the credit default swaps, that's not now, but what do you make of that rhetoric that's out there

right now, jonathan? >> well i mean i would say one comparison, cheryl, is they were both caused by government. i mean, both blame it on the free market. now days it's fashionable to say greedy ceo's are causing inflation. back in 2008 you right remember the obama administration blamed greedy wall street ceo's but it was regulation of the banking sector in 2008 that caused the financial crisis and it's all that government spending here in 2021 and 2022 causing the inflationment once again the free market gets the cure and the blame and the only cure from washington is more and more spending whether it's the chip act, or the student loan give- away or all the rest. >> some people call that buying votes. anyway, we've gotta go. >> that's it. >> jonathan hoenig, good to see you, sir, thank you. >> be well. >> cheryl: coming up lumber prices tumble to pre-covid level s we'll tell you why that is a big deal for you, that's coming up, next.

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hi, i'm jason and i've lost 202 pounds on golo. so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life. when i first started golo and taking release, my cravings, they went away. and i was so surprised. you feel that your body is working and functioning the way it should be and you feel energized. golo has improved my life in so many ways. i'm able to stand and actually make dinner. i'm able to clean my house. i'm able to do just simple tasks that a lot of people call simple,

but when you're extremely heavy they're not so simple. golo is real and when you take release and follow the plan, it works. >> cheryl: more signs of a housing slowdown, lumber prices falling back to pre-covid levels , pointing to a sharp drop in construction. fox business correspondent grady trimble is live in chicago with what this could mean for the housing market. my favorite topic, hey, there,

grady. reporter: hey, cheryl. yeah, lumber prices were one of the first of the commodities one of the first to surge in the summer of 2020 and then a lot of the other commodities followed lumber and now we could see that happening in the other direction. lumber prices are down about 70% from their peak in march of this year. that, of course is when the fed started raising interest rates. mortgage rates go up, home building and buying go down, and john kalabuch is seeing this firsthand, the owner at acm e lumber. we started seeing fed rate hikes in march. what did you see as a result of that and have you seen since then? >> definitely been declining little by little on sales and the pricing is down. we're just above where we were before the pandemic but it's definitely a big slowdown on things. reporter: and when you talk to your customers who come in and buy lumber, what are they buying for? because for a while, they were building patios on to home, people were renovating their

homes, people were building new homes. that's not happening anymore. >> no they are basically finishing off projects they have started, what they have is essentials taking care of a couple roofs and that before the winter comes in. no one really has the extra funds for anything else. reporter: it's all necessity projects. >> absolutely necessity as far as i can see. reporter: how does that change how you buy because for a while you were buying whatever you could get what we think our customers will need for the short-term basis and we have to watch the market to keep it appropriately priced. reporter: unfortunately, cheryl, the future is looking pretty bleak as well. permits for future homebuilding were down 10% in august. i guess one piece of good news you might be able to glean from that is that homebuilders are now able to catch up on those backlog projects that they were dealing with because of all of these commodities that have been so hard to get. now, prices are down, little easier to get your hands-on lumber these days. >> cheryl: absolutely, really changed grady trimble thank you for that live report.

well, joining me now for reaction is luxury real estate specialist katrina campen s, and i have a very special announcement about katrina. she now joins us as a fox news contributor, and the host of this upcoming season of "mansion global" on fbn prime. katrina, welcome to our family. very excited to have you. >> thank you. i'm so incredibly excited to join the family and to also host "mansion global" which will premier october 19, this month, so i'm really excited. i've been filming that the past few months. >> we're going to come back to that in just a second because you and i will be on the same night together. we have a lot to discuss but real quick i do want to ask you about that lumber price story, because you're in florida and this really is going to kind of lend into what happens with reconstruction in florida, because with lumber prices down, building becomes cheaper. there's actually a positive side

to that, katrina. >> absolutely, and somebody that's been in the real estate industry for not only 20 years but i'm also a homeowner and i also own rental properties and i was astonished at how expensive projects were after the pandemic , because of the cost of lumber, so i'm actually really excited about this news, and i think it will definitely help with the reconstruction of the devastation that has occurred with the hurricane. i was born and raised in florida and i endured hurricane andrew and i saw how many years it took to recover from that. florida is really resilient, so that's a positive and we have an amazing governor do everything in his power to really help the state come back from this. lumber prices being lower are definitely going to help and i think also, we'll hopefully incentivize builders to continue to build as well. >> cheryl: i think there's a lot to talk about on this topic and i know you'll be joining me in new york very soon, so i'm looking forward to seeing you in person.

as promised though i do want to talk about the upcoming season of "mansion global" and "american dream home" we're both on wednesday nights together. you're going to kick things off at 8:00 p.m. eastern time. so, let's talk about the experience for you, because as a realtor, you've always been buying and selling luxury homes. this is a different avenue for you to take. what was it like filming and did you enjoy it? >> well, it was amazing. having been in the real estate industry since the age of 18, flipped my first property at 17, and really handling brokerage, i've always really though wanted to give people an inside look to these luxury homes and i had the opportunity to really tour some of the most oppulent, classic homes throughout the entire country, especially areas that have taken off recently, and people are now enjoying a better quality of life as a result of that, and i'm really excited to show the viewers some of the really exciting properties and take them inside and give them a sneak peak because everybody loves real estate.

i know you do. >> cheryl: of course i do on "american dream home" we should let our viewers know you're taking over for kacie mcdonnell for the season because she's on maternity leave with a beautiful new baby she's welcomed to her family. we want to welcome you to our family at fbn prime and what's so much for the both of us to talk about in the next few weeks as these new shows launch but i keep getting asked about what's happening with prices. where are prices going? what does it mean with interest rates? and i keep telling people that i talk to, like look, the market is changing. it was a seller's market for covid and a little bit after , but now, with interest rates double, 6.7%, for a 30 year fixed, katrina, things have changed. i know you're seeing that as well. >> they have absolutely changed and by the way i think it's healthy, because we had such little supply on the market that buyers were really at a disadvantage not to mention affordability suffered and so yes, it was great for sellers but i really believe that more

supply on the market is very healthy. we're currently at a 3.3 month supply in a healthy market is six-month supply, so i obviously don't love higher interest rates but i do understand that they need to take place in order to really fight inflation so overall, i see the market balancing itself out. i don't think we're going to have a market crash like we had back in 2008. the market conditions are very different. i know you talk about this a lot as well. homeowners have a lot more equity in their homes and let's not forget homeownership has been the main way the american people have been able to build wealth throughout generations, and so i'm very bullish on the home space and i believe everything starts at home ultimately. >> cheryl: well, katrina, again i'm so thrilled that i get to be the first person to welcome you to the fbn prime family and fox business. really excited to work with you as we have these debuting. >> likewise. >> cheryl: thank you very much i'll see you here in new york very soon obviously. want to let our viewers know

they can catch the first episodes of season three of " mansion global" and "american dream home" wednesday, october 19. mansion global airs at 8:00 p.m. this season with host katrina campins. "american dream home" airs with yes, yours truly hosting 9:00 p.m. eastern time. we're very excited about all the new shows that we're bringing you for season three. all right, new york city crime is on the rise, but some progressive politicians are telling business owners not to call the cops. coming up on guardian angels founder a good friend of mine, by the way, what does he have to say about this? he's coming up.

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are these people supposed to be keeping these people inside? >> cheryl: that poor woman. that was elizabeth gomez a new york city resident randomly attacked in a queens subway station last week. crime not slowing down in the big apple. also last week an emt and 9/11 hero, stabbed to death while she was eating her lunch. politicians near the site of her murder urge business owners not to call the cops, just days earlier. i want to bring in guardian angels founder curtis sliwa. i would have thought by this point, curtis, things be better. mayor adams promised he would clean-up the city. not sure that's happened. >> no, no, no, no, he has no plan. it's talk, talk, talk. the only thing he does is go out at night to the wee hours of the morning and party. meantime the city is in worse

shape than it was under bill deblasio in eight years and that's difficult to think that could be possible but it's because he and the democrats have abandoned ship. you mentioned what happened in a storia. a hero lieutenant of the fire department ready to retire 61, a woman. savagely stabbed 20 times over and over and over, for no reason , by an emotionally disturbed person, and prior to that, the local city council woman, whose an accolade of aoc, all-crazy alexandria ocasio-cortez the democratic social of america was giving leaflets out to all of the small mom and pop business owners in that area saying never ever ever call the police. never. and then they gave stupid alternatives like distract the individual causing you distress, go up to them, ask them hey, didn't i go to high school with you? and then after they go on a rampage, in order to calm them down, just go up to them and say hey, by the way, have a good day

this is absolute insanity. i must tell you this woman, tiffany kaban, the city council woman, there was an armed robbery right across from her office, cafe, guys came off motorcycles with hoodies and gun s and they said your money or your life. tiffany and her staff were hiding under their desks afraid that they might get shot if they started firing. they never once called 911. now, did they respond? of course not. they hid under their desk, i hope we don't get shot. crazy. >> cheryl: i'm going to hold my tongue because i'm going to say something really really offensive about her and i won't do it but i'll tell you i'm not a fan. leave it at that. i will say this though. you mentioned city councilwoman. you and i got to know each other because our neighborhood, you and your wife and i share a neighborhood we all love and it was overrun during covid, homeless hotels, crime, and we

had, at that point, city council woman, who goes lighted all of us, thousands of us in our neighborhood and now we have a city councilwoman, who basically disappeared and doesn't seem to want to answer the phone. that's at the local level you and ideal with. at the state level though, you have lee zeldin running for governor against kathy hochul. now the cynic new yorker is going to say to you, well, it's a blue state. he has no chance. lee zeldin is running commercial s in the city that are powerful. powerful, curtis. you ran as a republican, and you didn't win against mayor adams but does lee zeldin have a shot considering how bad things have gotten in new york state? >> no doubt about it. crime is the number one issue from buffalo to brooklyn all over the state even suburban areas and congressman zeldin has a man whereas kathy "crime wave" hochul whose now the governor and wants to get elected she has

no plan. eric adams the democratic mayor has no plan, so i've given my full support to congressman lee zeldin and i'll tell you another thing and give you an exclusive. tomorrow, i and the guardian angels will be in astoria starting patrols and also giving out fliers to all the mom and pop shop keepers to let them know always, always, always call 911. 911 must be called under any and all circumstances. support the police. don't defund the police. we need more police. >> cheryl: i agree with you 100%. real quick how are the guardian angels helping with relief efforts in fort myers? >> we have guardian angels in fort myers to begin with and tampa, st. pete, and we're bringing in more from the east coast from fort pierce. we're doing wellness checks. as you know a lot of senior citizens still stuck in their homes and we're also checking on a lot of the animals. a lot of the animals have been stuck in hopes that humans had

to abandon when the floods came through, we're distributing water which is so necessary, food, and just helping to try to repair that part of florida. we got to put aside political differences. this isn't time for democrats and republicans to come together , and help put florida back together again, and help all those in need. not based on equity vice president harris. based on need. >> cheryl: curtis sliwa, thank you for all your efforts in this city, fort myers thank you to your wife for her efforts when it comes to animal rescue. i'm one of her biggest fans please tell her hello. curtis thank you very much. >> thank you. >> cheryl: well the dow is hitting session highs right now, and we are going to be right back, dow up 720. i'll take it, the cc effect. the is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts

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prescription drugs. with original medicare you are covered for hospital stays and doctor office visits but you have to meet a deductible for each, and then you're still responsible for 20% of the cost. next, let's look at a medicare supplement plan. as you can see, they cover the same things as original medicare, and they also cover your medicare deductibles and coinsurance. but they often have higher monthly premiums and no prescription drug coverage. now, let's take a look at humana's medicare advantage plans. with a humana medicare advantage plan, hospitals stays, doctor office visits and your original medicare deductibles are covered. and, of course, most humana medicare advantage plans include prescription drug coverage. with no copays or deductibles on tier 1 prescriptions, and zero dollars for routine vaccines, including shingles, at in-network retail pharmacies. in fact, in 2021, humana

medicare advantage prescription drug plan members saved an estimated $9,600 on average on their prescription costs. most humana medicare advantage plans have coverage for vision and hearing. and dental coverage that includes two free cleanings a year, plus dentures, crowns, fillings and more! most humana medicare advantage plans include a silver sneakers fitness program at no extra cost. you get all of this for as low as a zero-dollar monthly plan premium in many areas; and your doctor and hospital may already be a part of humana's large network. there is no obligation, so call the number on your screen right now to see if your doctor is in our network; to find out if you could save on your prescriptions, and to get our free decision guide. humana, a more human way to healthcare. >> cheryl: and welcome back to "coast to coast."

credit suisse shares in the green after sinking on capital concerns as you can see , stock is moving higher right now 2%. fox business charlie gasparino joins me now. charlie: this was an interesting story i covered all weekend. i just want to make it clear that one of the reasons why the market is up today is because of this , that the notion that credit suisse is not a lehman brothers. this is not a lehman moment, is giving it, you know, the markets some happiness, obviously. so that's the general consensus. listen i don't want to be proven wrong in two months from now when they go out of business. i'm just telling you the general consensus between top money managers who hold the stock, and have been meeting with the ceo k erner for the last three or four days, and big wall street firms who are counterparties to credit suisse actually have to lend them money are saying this. this is not a lehman moment. this is a company that has some issues with their investment bank, which is a mess

people are leaving, remember the blowup occurred at credit suisse, you know, they took it on the chin and a lot more, trading mishaps all the time. they have gone through five ceo 's in the last like eight years. >> cheryl: sounds like a management problem not a bank problem. charlie: well, they, you know, i don't know. management problems often lead to bank problems, so but i'd just tell you this that the general consensus right now is that credit suisse is not lehman brothers. we don't see that the systemic risk to the system is not here. there maybe systemic risk to the system as the fed keeps raising interest rates that's a whole other story and that could be a problem for the dollar, for counterparties ink across world, for governments ink across world including businesses, global businesses that issue debt in dollars and all of a sudden dollars rising fast. guess what? the interest payments just went through the roof. u.s. companies, that could be the systemic risk right now the

assessment this is not it. that said, they are monitoring it. every wall street bank and firm has gone out and done an exam, essentially, of their counterparty exposure to credit suisse just in case somethings happening. they are also meeting with the ceo, mr. korner. now here is the interesting thing there's apparently a strategic plan put out by credit suisse in october about the investment bank because remember credit suisse is really three firms. it's a wealth management firm. it's an asset management firm. and a bank over in switzerland and it's very good at that, and then there's this investment bank that's essentially here. that's the vestages of the old first boston dating myself, that i actually know what first boston was, so that and by the way first boston was bought by credit suisse back at least a minority stake back in the late 80s and they bought a majority stake after they ran into trouble around 1990. that bank is where we have the problems are right now with

this company. so basically, credit suisse is a healthy company with a bad investment bank. the bank though apparently according to mr. korner is capitalized and has plenty of liquidity. now i always preface this , because that's exactly what dick fold said before lehman went under. the guys at bear stearns said exactly that, but you know, so take it for what it's worth. this is why the markets up today this is why the stock is up today, and the ceo's of these firms are imploring korner to expedite his strategic plan. why he's not doing that is only maybe, you know, maybe it's something in the swiss water i don't know, because obviously, when people are questioning you, you should be doing something fast. >> cheryl: charlie gasparino, thank you very much. great reporting, sir. well, the white house on the defense as its massive student loan handouts with getting criticism from both sides of the aisle. fox business hillary vaughn on capitol hill with the latest.

reporter: hi, cheryl. well it turns out for some, with president biden's student loan bailout, was too good to be true for some people. the biden administration quietly making cuts to their sweeping student loan debt bailout. a number of people that thought they could qualify for this now cannot. the administration announcing borrowers who have federal student loans but are owned by private entities now do not qualify for the forgiveness. that means about 4 million people who originally thought they were getting this debt erased will still have to face it and pay up. house ways and means committee chairman richard neil telling me friday more changes to the program could be coming as more legal challenges pileup for the president. >> i think it's an evolving issue, and certainly i think that there are going to be a number of corrections that will take place in the near and likely distant future as well. >> just trying to figure out what is legally possible. >> yes, exactly. reporter: there are at least three lawsuits right now challenging the legality of

president biden's loan forgiveness and progressive democrats are not happy about it senator elizabeth warren tweet ing this. these republican politicians care more about protecting profits for corporate loan servicers than helping working people buried in student debt. this lawsuit is obscene and it will fail, but this relief is not just going to the working class. far from it, the model estimates about 25% of the relief is going to people making between $80,000 and over $200,000 a year. people who can probably afford to pay their student loans and certainly probably benefited from those loans and the education they got from it looking at their salary. cheryl? >> hillary vaughn live on capitol hill thank you very much cavuto "coast to coast" will be right back. my relationship with my credit cards wasn't good. i got into debt in college and, no matter how much i paid, it followed me everywhere. between the high interest, the fees...

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>> welcome back to cavuto "coast to coast." i'm peter doocy at the white house, where officials from the top-down are telling us they hope today's trip to puerto rico to survey hurricane damage can be a data point as they hope to make the argument that this president cares more about puerto rico than the last one. >> going to puerto rico because they haven't been taken good

care of and trying like hell to catch up from the last hurricane i want to see the state of affairs today and make sure we do everything we can. reporter: there's a big distraction concerning storm response though. not just ian, or any of the storm recently as vice president harris suggested that race is a factor in doling out relief. >> lowest income communities and our communities of color that are most impacted by these extreme conditions, and so we have to address this in a way that is about giving resources based on equity, understanding that we fight for equality but we also need to fight for equity reporter: that is not administration policy though. the fema administrator is not mentioning race as a consideration to helping affect ed americans. >> we're going to support all communities. i committed that to the governor i commit to you right here that all floridians are going to be able to get the help that is

available to them through our programs. reporter: and just a few minutes ago aboard air force one the press secretary karine jean-pierre said they are looking to help all affected americans full-stop , cheryl? >> peter doocy live at the white house peter thank you very much refresh it. well officials in florida are issuing warnings about looting in the aftermath of hurricane ian. listen. >> don't even think about looting. don't even think about taking advantage of people when this vulnerable situation, so local law enforcement is involved and monitoring that. i can tell you in the state of florida, you never know what maybe lurking behind somebody's home, and i would not want to chance that if i were you, given that we're a second amendment state. >> cheryl: joining me is republican florida attorney general ashley moody and attorney general, first and foremost, can you give us an update? have we seen more instances of looting since ian hit your state last week?

>> yes, you know, we're still looking at intersections flooded , lights out, no electricity, no lights in some areas. businesses still closed and some areas you have just a few businesses open, and so looting is a real concern and yes, local officials have reported instances of looting and as soon as that happened, i asked the state attorneys to not only consider the enhanced penalties during a state of emergency when going after these bad actors but also, to do everything in their power to keep them held in pre- trial detention during the state of emergency so they can't get out and loot other businesses or homes. look, we're not going to be like chicago or new york. this is florida. you're not going to keep getting out time after time and violat ing people's rights and ransacking their homes and businesses. the rule of law will be enforced and i think governor desantis for coming out clearly on that. >> cheryl: he was very clear in those comments that we just played to our viewers. i want to move on to the

insurance market in florida. headline after headline and i'm sure you've seen it has said that this storm could cripple florida's already unstable insurance market. many companies, especially the smaller ones, were already teetering going into this storm. now there's concern that there's not going to be money there that's going to be needed to start to rebuild and that a bail out maybe eventually needed from the u.s. taxpayer. would you give us more insight into these concerns? >> anytime you have a natural disaster, that's going to put pressure on your insurance industry. in florida thankfully governor desantis called a special session, our legislative leaders met to try and solve some of these issues, just a few months ago, so we know this is something. we'll have to be paying close attention to and in many of these devastated areas, we're already focusing onsetting up areas for folks to come, process

claims, meet with insurance company representatives, so leaders are taking note. i know the governor is paying very close attention and this is something that florida will have to address as we move forward, as folks rely heavily on the insurance industry. >> cheryl: not to put too fine of a point on it but at this point 30 companies are now on the florida office of insurance regulations watch list because of financial instability , that was going into ian. >> you're absolutely right, which is why our leaders were meeting, we passed new laws to address that. our chief financial officer is setting up locations throughout florida to meet with folks, and it is going to be a challenge. any time you have a state where you have heavy coastlines and natural disasters that affect the state you have to make sure that the insurance market is strong and healthy and we'll continue to do that with our leadership here in florida. >> cheryl: real quick.

estimates we've seen 40 billion in damages. i know it's early but can you give us a sense of what you think we might see from the state when all this is said and done? >> it is very early. i can tell you just this weekend i was down in fort myers and lee county, and charlotte county, those were the two hardest hit areas. we are still assessing homes that were demolished, businesses , we're still trying to recover life and rescue families from this devastation. not only are we still trying to assess how many folks we have lost through this storm. the assessment of the damage to the state in terms of financial losses also will be coming and the days and weeks ahead. it's too early at this point to put an exact assessment on it. >> attorney general thank you for joining us. we appreciate it. we will be right back, everybody this... is the planning effect.

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>> from cc to cp, take it away. charles: i certainly will thank you, cheryl good afternoon, i'm charles payne. this is "making money" and breaking right now, well the markets rebounding from its level since 2020 our stocks catching up to what bonds were discounseling on friday. garden variety, i'm going to ask my market all-star victoria fernandez if you are ready to buy. should we be at least nibbling right now? meanwhile, comparisons to 2007- 2008 continue with scuttleb ut all over the weekend that credit suisse