so we went up fast, didn't we? >> yeah. stuart: everybody thanks for playing games. that was -- >> market was a gain for sure. stuart: trivial pursuit, remember that one? dow up 545, nasdaq up 150 points. that is huge turn-around. don't forget "friday feedback." send in the fan videos. your chance to be on tv, you lucky people. i still have 19 seconds left before i turn to neil. what do i do for 19 seconds? >> encourage more videos especially outdoors. stuart: we used up time. three, two, neil, it is yours. neil: how would they know what the world population was? stuart: good question. good question. neil: whatever. thank you very much.

corner of wall and broad, a lunchtime turn around, been in place better part of an hour. in case you're keeping track of this jekyl and hyde market just today, we're up 563 points. we were down, as much as 716. that is a 12, 1300 point swing. whether reassessment of data we were showing, retail inflation is running 8.2% annual clip, a little stronger than expected. it follows what we've been seeing elsewhere, the things are picking up steel on the price front. the fact of the matter is any at all noticeable or any impact of the rate hikes we've seen. the latest we'll see at least another 75 basis-point hike at the next fed meeting and another 75 basis-point hike after that one. yet again we are coming back. we'll get into the details what is behind this.

charlie brady our stocks editor, senior editor here, saying a lot of top issues hit 52-week lows. maybe people are pouncing on these. he tells me this has happened a half dozen other times where the markets especially pounded. people say all right, we pounded too much. be that as it may. we have four hours to go to easily reverse this take what you have. let's go to edward lawrence how they're digesting this at the white house. edward? reporter: talk about the headline number, a little more than what was expected, the highest since march of this year but the federal reserve will look at core inflation without food and energy prices that went up6.6% year-over-year that is the highest since august of 1982. this is an indication inflation has not peaked yet possibly. in fact it shows core inflation is entrenched. actually core inflation is on the rise. puts into play not just a 75 basis-point hike in november like you were talking about, but the possibility of one full

percentage point is creeping in. when you dig into this report numbers in key areas are just not good. home and food, food at home is up 13% year-over-year. energy overall up almost 20%. within energy you have fuel oil. now it is winter to heat your homes. that is up 58% year-over-year. rent is up 7.2%. that is the largest 12 month increase since october of 1982. these are real costs for people that really hurt americans. >> since, it drove this inflation unhis first bill. inflation reduction act has done absolutely nothing as you can see. the president is making no changes that would reduce inflation. reporter: let's throw a little bit more numbers at you. everything looks ugly here. eggs up 30.5% in the past 12 months. chicken up 17.2%. lettuce, coffee up almost 16% year-over-year. pet food up 14%. white house economic advisors are spinning this, asking for

more times for americans in paying more. >> our policymakers doing what they need to do to respond precisely pressures you made. yes on energy, yes on medical costs. reporter: his point there there will be no policy shift here at the white house. they do believe they're on the course eventually with no timeline given eventually bring those costs down. back to you. neil: thank you, my friend, edward lawrence following all of that. we are feeling the pinch certainly on inflation, obviously an understatement. especially utility bills. this is between period where people stop using air-conditioning, holding off on heating. a matter of time before that whammy hits us. it will be quite some whammy. kelly o'grady in los angeles on that. kelly. reporter: good afternoon, to you, neil. folks are bracing for a long winter ahead. listening to edward's report, families are struggling at the grocery store and pump. you will struggle to keep your

house warm expected to be slightly colder winter. you can expect spend up 28% more than to heat your home. that is largely due to soaring natural gas prices. nearly half of u.s. households rely on gnarl gas for heat. if you are heating with natural gas, it will be $930. if electricity, you're looking over 1300f you're heating your home with oil, you're looking at over $2300. only 10% of americans use oil to heat their home but none of those figures i just referenced are cheap. with opec plus cutting production even further the concern becomes how will americans make ends meet? the winter is already a tight time for families with the holidays. we just experienced soaring electricity bills with those summer heat waves. out in california you add on to that the ohio gas prices. the state average today is 6.19 a gallon, makes it simply difficult to go to work. we're seeing consequences of

that's pressures play out a lending tree study shows 32% of americans paid a bill late in the last six months. over half indicated it was a utility bill. that equates to 20 million americans falling behind on their energy bills. then you factor into the everything that these bills are only going to keep rising this is a rather sobering outlook for the winter. sorry to give you pad news, neil. neil: you say that, but i don't believe. i think you like sharing this bad news to to sort zing. thank you, kelly o'grady in los angeles here. cowell things we're following the gap between the two-year and 10-year note seems a little arcane. with the backdrop of a big surge in stocks, it is around 50 basis points that wide of a gap we haven't seen in better part of two decades, 22 years to be exact. normally that presages a recession or slowdown, not all the time but enough, gap that wide has markets betting on

that. briefly the 10-year had jumped over 4%. now back under that but heady just the same but do think of that right now with a two-year 4.44% level. we're not even at a point where fed funds overnight banking rate, is, we're waiting for it to get to around 4%, right? committing your money overnight gets you as much as you get committing it for 10 years. almost as much as for two years. i think about that. that's why people look at this and say, well, that is a great place to park my cash if this market keeps getting so volatile. today is volatile. good volatile if you're long this market. go to ray wang on this, luke lloyd on this. luke, do you pay much attention to the yield curve argument and what it could be forecasting? >> all the time, neil.

i think that is something you absolutely need to pay attention to because we haven't been able to pay attention to yields in bonds and fixed income in general really for the past two years of the now it is actually becoming more attractive. the interesting thing, neil, is that the only thing that matters right now to the stock market is what the federal reserve will do next. you got to remember, this morning the market was down like 9% in six days. so i do think this most likely is just a bear market rally. you need to make sure you're still defensively positioned. until the federal reserve is able to sidestep from this mess and pause or pivot, you need to be defensive. i think market is still underestimating how high interest rates have to go. most likely rates need to go above 5% in early 2023. the best part like i was referring to earlier, the markets are giving you options. we all remember tina, there is no alternative, that everybody talked about a year ago. now there are alternatives to the stock market and the game has changed to owning stocks to being able to own fixed income. i think a great strategy is

barbelling short term treasuries to dollar-cost-average into the strong market. essentially own a three month, six month, one year treasury pays you 4%. once those notes come due you dollar cost the money into the stock market. neil: what is kind of fascinating, guys, ray, relate to you. inflation is latest report stubbornly high, higher than they thought. same with the wholesale report yesterday, stubbornly high, higher than they thought. if you think about it with all the rate hikes, going from zero to almost 4%. so i always worry, i know this is delayed effect, you remind me of that, if we continue to going at the pace they think the fed will continue going at we'll keep raising this another 3/4 percent next month. another 3/4% after that. then the whammy where, then we find, oh, my gosh they overdid it. what do you think? >> yeah.

i'm worried that they're going to overdo it. hopefully we don't get to the rates of 1980s we're at 15.8% but the challenge here is actually different, right? we're realizing core inflation is still going up. headline inflation is about to go up as gas prices come up and that's actually creating a lot of pain. so we're seeing already like some of the phases of a recession, first one is valuations come down. that is what hit equities. earnings if that comes down in the next, we see bank earnings, other earnings get reported next few weeks. we'll get credit and liquidity crunch. that will create a lot of issues, unemployment and housing. i hope we don't hit the last three faces, the fed moves to taper rates or find a rate they will be terminal rate they will happy with that is the challenge of the market. we need better energy policy. we need policy focused on bigger transition for clean energy and a bigger transition for fossil fuels than what we have right now. all the policies are driving up inflation instead of bringing them down. neil: if you're right, to that point, luke, we're looking at

still more inflation, and federal reserve following that, on the energy front as well by continuing to raise interest rates. we could back ourselves into a serious corner? >> i think we're in a corner right now. it will get deeper over the next year. these high inflation numbers prove the middle class continues to have a double-whammy situation. we saw the biggest wealth divide asset liquidity and caused asset prices to skyrocket. we're seeing another huge wealth divide through inflation and middle income and lower income households are being impacted the most. remember over the past decade how we talked about the middle class slowly evaporating and separating this it feels like and looks like when the separation process accelerates and the middle class becomes weaker and weaker. the most interesting thing many people in the middle class don't feel like they're weaker because debt is so accessible. people are comfortable with

having debt. you can rack up credit card debt for a long time. cycle repeating itself. people increase debt. continue to spend money. inflation goes higher which makes things worse. the most concerning number in that report is 0.6% month over month number. we need to see flat month-over-month numbers or negative deflation numbers too show the ted is doing their job. neil: they might be overdoing it to your point. next hour pick your brain those saying at these levels, pounding the market taking latest jump no with standing it is a overvalued market. january 6th committee will resume 45 minutes. we're told last public conference before the american people. what is new today? what will we learn today? we're all over it after this. ♪

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♪. neil: all right the january 6th committee meeting today, this is about the last time, last public hearing we'll have here. we're told that they're saving some of their best stuff for last. they have got videos. they got you name it. whether it will really move the

needle anyone's guess. chad pergram following it all from capitol hill. hey, chad. reporter: neil, good afternoon. the committee hopes to tie a bow on its series of hearings which ran through the summer. no live witnesses today. expect to hear about concerns regarding potential violence before january 6th and worries from the secret service about the former president heading to the capitol that day. >> this administration told the president in no uncertain terms that he has lost the election. the president continued to move forward and promote the lie. witnesses after witness have come forward with that. reporter: the committee could play new video from roger stone and calls for violence. democrats believe they have demonstrated how former president trump tried to deny the election results. they also want to underscore potential threats to democracy. >> the impact has been enormous. i've been for the last few weeks

talking to constituents. they have been really transformed in their view what happened on january 6th as a result of hearings. reporter: the committee's work doesn't resonate with voters as much as inflation and the economy. critics wonder about the panel holding the hearing so close to the election? >> we've tried to make our decisions without respect to that. you know, there are certain people who are going to denounce whatever we do no matter what. reporter: expect some discussion about a deposition from jenny thomas. the wife of supreme court justice clarence thomas. the committee did not videotape her deposition. this may be the last big appearance by liz cheney as a sitting lawmaker a final report is due come december. neil? neil: if republicans take over the house, chad, what happens to all of this stuff? >> this committee is valid through the end of this congress

11:59:59 a.m., january third, pubs will get rid of that committee next year. they may conduct into her own investigation into house speaker nancy pelosi may have known and security failures here at the capitol. neil: that should go well. chad, thank you very much. we have lee carter here with us to make sense of this. lee, you and i were saying during the break i don't know if this moves the political needle but i know real issues like inflation not going away, in fact getting worse are probably more paramount for the time-being for average folks? >> i think the democrats are spending too much time focused on this frankly. the american people are suffering. the inflation numbers are staggering. i was reading earlier today the average american has to pay up to a month of their salary extra to cover their bills, their basic bills on groceries, energy, gas all of things increased because of inflation. that is playing from the time and center in peoples minds. but what people want to hear what will they do differently if republicans take over. not a question, this isn't just

a referendum on democrats. republicans will have to make their case. neil: so part of their case we'll cut your taxes, we'll go full throttle on more oil production. i don't know if that hits people as a cure when they're in the grocery store but i, i see some of the strategy here but, it is one thing for the house to turn. quite another for the senate, right? >> yeah. the senate is neck and neck. it looks like right now certain to go 46 republican, 46 democrats. these tossups are really important, nevada, pennsylvania and georgia. we've seen those states flip-flop back and forth, not just because issues because of scandals within those states. when you look at dr. oz and fetterman, those two characters going after each other the way that is, it is not just about the issues at hand. it is about less or almost to some people lesser of two evils. look at georgia, herschel walker all of that is going on is really hurting his chances more than it probably should have. the republicans should not be in this position. when you look at polling

numbers, where people are feeling about the economy, about the future, about being proud to be an american right now it is at record lows. now yes, biden's approval rating has gone up a little bit but it is not enough you would see, this is neck and neck, and it should not be republicans mead to be making a better case. they started to lay out something in the commitment to america. i think that is really smart. they're spending too much time talking about how bad it is. when i have in front of me a number of candidate speeches, they're talking about how bad things are. how bad crime is. how out of control the borders are. everybody ask aware of that. that is why those issues are so important to americans. people want to hear what are you going to do, republicans if you take over the house and take over the senate. i want to know what will be different. i'm not so certain that you have a plan. that is really what it comes down to. neil: by and large republicans are clinging to the notion people are so ticked off what is going on they will throw out the bums presently in power. let me get your sense of a

watershed event. i'm old enough to remember 1980, it was still a close race the final weekend between jimmy carter, ronald reagan, separated by a couple points, hard to believe. as weaken sued, following tuesday it was a landslide. is there anything like that akin to what we had in 1994 with the gingrich revolution, taking all those seats where they're expected to gain but not like that, it materialized, it seemed in the final few days? >> yeah. i do think that there is a few things that could happen. number one, i think republicans could really start making their case effectively and efficiently if they start repeating the message they developed under the commitment to america, with four plans they will put forward. if they start really addressing the pain points of americans i think they could run away with it. right now what we hear from voters, i have one voter i spoke to said, i know a little about the candidate but i'm aware of increased violence. i'm aware of increased prices cost of living.

would be helpful to know what the candidate plans to do to make it better. i hear that from voters. what we need to do. most candidates are running against each other. candidates are not running against donald trump. they're running for the american people. that is what they should do to make their case f they do it, republican cost run away with it. neil: democrats, found on notion, wind at their back, rage female voters over roe v. wade reversal that will show up at the polls. do you have any evidence of that? what do you think? >> there are some interesting statistics say 65% of woman are going to vote in the midterm elections just on the issue of roe v. wade which means that you could have a surge of women who otherwise wouldn't vote because, in midterms you don't get turn out in presidential elections. people want to protect their rights to have abortions in those states. now, at the same time there is equal number of people who are

on the other side of it. are they going to come out in the same record to make sure their pro-life views are protected. bottom line i think the pocketbook issues americans are suffering from right now, cost of living issues they're facing, what is happening to their 401(k)s what is happening to retirees right now, when you're looking at runaway spending and that everybody is struggling day-to-day, i think that is what will be most important but again, republicans have to say what are they going to do. because there is a lot of skepticism among people that government can get anything accomplished because it seems like all gridlock, and fighting against each other. neil: right. >> rather than getting anything really done for the american people. neil: you mentioned good thing about the markets, what happened to peoples 401(k). administration is fond of saying we don't fixated on markets the way our predecessor did. one very established democrat, now and then maybe they might want to do that, take a peek at the screen because it affects more people than you know. >> no doubt about it. people feel it on every, on a

day-to-day when they go to the grocery store and feel it when they look at retirement accounts. a problem democrats address. joe biden said we might have a little bit of a recession here. you might have a little bit of a problem. making democrats feel so out of touch. people feel the pain every day wherever they look. neil: think eq, less i.q. lee carter, thank you very much. meantime seeing it at the grocery store, seeing it at the gasoline pump. seeing all sorts of areas. a guy pretty successful at both will be joining us on how he sees it playing out at his grocery stores and on the energy front. he is next. (vo) while you may not be a pediatric surgeon volunteering your topiary talents at a children's hospital — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you give back.

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neil: knock like what's happening here at the now soon to be expired may contract. again that puppy is put to bed tomorrow. what do you make of those contracts outside of this one expiring tomorrow much higher

although they too are dropping but nothing like the 91, 92% we're seeing on this one? explain that to me? >> i think what is happening is there is no time for optimism in the next 24 hours. in fact you know, you can look a month down the road say things will get better, opec cuts will start coming into play but that will not help you 24 hours from now. what is even disturbing in the may contract, neil, the cme group issued a statement that they said they will allow the may contract to trade negative. that is right. this futures contract could trade below zero. neil: -- middle of covid, everyone hunkering down. oil prices actually dipped below zero if you can believe it. this was an unreal time. a lot of people talking about the greedy oil fat cats, i like to remind them there was a time when they were in such a bad way they might have need ad bail out

as if. now of course we got oil in and out of 90 bucks a barrel. picking up a little bit today, again inflation nary concerns are front and center not really for the equities markets. more on that in just a second. oil itself is being decided right now by people outside our sphere of influence. specifically what opec and opec plus countries are doing led by saudi arabia to cut production by some two million barrels a day. the administration promised a response to that. as yet we're still waiting. jacqui heinrich at the white house on what might be. hey, jacqui. reporter: neil, the president continues to warn of consequences for saudi arabia after opec plus moved forward with its decision to scale back oil production. he is considering calls from congress to suspend or scale back or eliminate arms sales to the kingdom based on this decades-old strategic partnership where in the u.s. supplies arms to the saudis to defend themselves against enemies in the region so long as the saudis produce enough oil to

keep global markets stable and right now the president's under significant pressure from democrats in congress to take some retaliatory action soon. >> i don't see any reason to arm them now if they believe their future is linked to vladmir putin. >> the saudis are totally dependent on our weapons. their air force could not fly without american technicians. we have done so much for them. there need to be consequences. you can't just do this to the american public. reporter: biden will huddle when congress is back in session after the midterm elections. national security spokesman john kirby confirmed that the u.s. tried at least to push off these production cuts for about a month. he writes, we presented saw saud with analysis to show there was no market basis to cut production target and they could easily wait for the next opec meeting felt, coerced to support saudi's direction. as the president said we're reevaluating a relationships

with saudi arabia in light of these auctions and will continue to look for signs where they stand in combating russian aggression. now the saudis shot back in a lengthy statement late last night. saying the kingdom, quote, expresses its total rejection of these statements that are not based on facts, which are based on portraying opec plus position on the purely economic context. this position was taken unanimously by all states of opec plus member group. postponing the opec decision for a month what would have been suggested would have negative economic consequences. really the news there is that there was a significant effort from the white house to at least delay this production cut by a month or so but in, you know, sort of end of this what is interesting here to me, neil, the saudis seem to be distancing themselves from any suggestion they're siding with russia. they say at the end of that statement they will continue to support u.n. resolutions like the one that passed last wednesday condemning russia's

war in ukraine. neil. neil: but they're smarter by half, right? jacqui, they know the economic context quite well. reporter: sure do. neil: cutting two million barrels is going to lift the price of oil at a time when the world can ill-afford pricier oil, right? reporter: like what they're saying out loud versus what they're doing behind closed doors. neil: exactly. reporter: they're doing both trying to do do it effective trying to counter the u.s. claim is this move is saudis siding with russia and trying to get ahead of that telling people it is not the case even though the white house would be the first to say that decision benefits with russia, sides with russia. neil: great reporting as always. jacqui heinrich on that. john catsimatidis joins us right now, billionaire businessman, big in oil. i see all his companies, united refining, red apple group, catsimatidis one of the premier names in the grocery world.

he covers all bases. i think you done well for yourself, my friend. good to see you? >> thank you for having me. we have the pulse of almost every industry. that is why we put it together a little better than other people and what the saudis are saying they trust washington zero and, right now they have no faith in washington. why does president biden would rather buy from venezuela than from texas, than from alaska, from canada? it makes zero sense. neil: whatever your views on that, they're trying to stick it to president biden and help vladmir putin. they're saying -- >> not vladmir putin. they want a republican senate and they want a republican congress. they feel -- neil: i think they want to make money. >> they want to make money but they want common sense. neil: fine. i think they're always about money. and i think that they have got a

lift in prices here. you would think they would learn from history, whatever your views on the president, whatever, the last time they did this and tried to gouge western nations they ended up gouging themselves and almost drove themselves out of business. do you think there is a risk of that now? >> i think it is is all leadership. look, the new prime minister in england, leadership, the pound is up to $1.13. it was almost 99 cents last week. it comes down to leadership. neil: liz truss has a lot of hurt there. >> yes. neil: but you're saying some of these signs are looking promising? >> in the united states what i would do, look what senator sullivan says in alaska. we have two million, 2.2 million-barrel pipeline in alaska going down to the 48 states. we're only shipping 375,000. i would say to them, saudi arabia, keep your two million barrels. i will bring in two million barrels from alaska or texas.

but that is not happening. neil: you think that would happen oil prices would start reversing so too at grocery stores? >> yes. oil prices will reverse. they will go down to 55, $60 a barrel and, yes, guess what? over the next three, four months, inflation will go away and we don't have to destroy the entire real estate industry by keep raising interest rates. neil: would it surprise you, john, despite all the fed hikes, inflation is not getting better? in fact it is getting worse. >> faith, leadership, faith. there is no faith in what washington is doing right now. there is no leadership in what is going. the, it is not just the united states citizens. it is the world leaders don't have the faith that we're doing the right thing. neil: all right. this is all on us because prices are going up in germany and france and italy? everywhere. >> that's right. neil: is all that joe biden's fault? you don't think all --

>> what jamie dimon said the other day. jamie dimon says if we open up the spigots in north america that the price of oil will go down and inflation -- neil: worldwide would change things. do you think right now, that inflation is become so engrained no matter who is president at this point, a window of opportunity for companies to keep raising prices because they have the comfort and cover of others doing the exact same? >> it could happen. neil: you notice it at your grocery stores? >> it could happen but it, everything goes back to the price of crude oil and, if we don't fix it will go the wrong direction. the cpi is not as bad as one wants it to look like. neil: right. >> don't forget, you ever 30% of it is rent hikes, really should have been over the last six months. don't forget, i just got a letter from con-ed today for our new york operations. guess what? electricity is going up 22%, 30%, for gas.

what does that mean? it means it is not in the cpi yet it should have been six months ago instead of now. neil: when we had the last oil run-up, the big one in the '70s, oil prices eventually went down because the economy was crashing down. later on with the rate hikes and everything else. it took other aspects of inflation like food and all the others up to five years before they followed suit. >> but they don't realize, what they don't realize right now, that it is all comes from crude oil. the price of diesel fuel to deliver, to run every factory -- neil: i understand that, that went down but it took five years but the other stuff went down? >> i think it will take a lot less. i think it takes six months. neil: you're a maybe on president biden? >> i think president biden should take the leadership, if he showed leadership and opened up the spigots of north america, the russians will cry, and the saudi arabians will cry too. neil: who is the next president of the united states? >> oh, that is long way away, a

lot of factors. if you look on the republican end i think donald trump has the knock-out punch against everybody. if president trump makes a mistake and he knocks out himself, then it's maybe desantis. neil: so you don't think he would be a damaged nominee? >> i don't think so. neil: no? >> i think, a lot of things that he did were the right things for our country and the right things for the world. he had, the world respected him. north korea respected him. putin respected him. neil: so if you were putting mon money on it you would put money on trump? >> right now yes. neil: would you put money on republicans take the senate? >> yes. neil: really? >> i think the american people are seeing, they're mad as hell, they're not going to take it anymore. we have to have a balance of power. it is not about being a republican or being a democrat. it is about being an american.

we need a balance of power that if something stupid is happening like the borders, the borders are out of control! out of control. neil: you running for office? >> i ran for mayor one time. neil: i know. >> i'm getting too old for that, am i? neil: the guy we have is 180. >> at least. neil: okay. you're open? >> i'm opensuggestions. neil: thank you very, very much. food for thought from the grocery king, oil king. 564 points. something this guy just said had us buying more. stay with us. you're watching fox business. ♪. (music) ...innovation... (music) ...discovery? or simply stability... ...security... ...protection? you shouldn't have to choose. (music) gold. your strategic advantage.

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♪. neil: all right, crime is a big story, that you know, so does our hillary vaughn who has been following the crime story especially when she becomes a part of it. she joins us in milwaukee, wisconsin with more. hillary, what happened? reporter: neil, to be clear i was not part of the crime. committing the crime but we did

experience a crime while we were here outside waiting for a press conference with the republican candidate for governor here in wisconsin, tim michaels. michaels has been campaigning on a very tough on crime message because violent crime in the state is way up. it is the highest level this state has seen in 35 years. we did get a chance to catch up with wisconsin's democratic governor tony evers who is running for re-election. he tells me crime is local issue. what he can do as governor make sure local governments have more money to deal with it, including hiring more cops? >> this issue has to be resolved locally and we can't just pick one thing and say we do this and it's done because we will not surprised because that will not solve that problem. reporter: but evers opponent michaels disagrees with that approach. >> the solution is more resources, more resources, more resources. typical democrat, you know throw

more money at a problem. throw more money at a problem. probably the biggest reason we have crime surge in state of wisconsin, city of milwaukee, the bad guys know, they say we will get away with it. reporter: governor evers has been under fire how he handled the kenosha riots, two years ago, some people say he didn't do enough to back up local law enforcement to prevent businesses being burned to the ground. we went to kenosha and talked to business owners there during the riots. and they saw their businesses destroyed. they tell me business has not bounced back since. there are still empty shops that have not opened back up. one business owner tells us, because of that governor evers does not have his vote. >> this was a thriving community. this, people had a hard time finding a place to park. it was busy. now, look. i wouldn't support him if he was the last candidate on earth.

he doesn't protect the people. he doesn't protect businesses. reporter: and, neil, that is how some voters here in wisconsin feel because they are coming face-to-face with crime every day, something we witnessed today. to put it in perspective, this is the fire department where the event was being held. just across the street right here is the car where my producer was parked. you can see glass on the ground. someone threw a brick through the window. you see the brick there. shattered the glass. another person got inside to try to hotwire the vehicle and drive away with it. again the press was just right across the street. there was probably, at least a dozen people standing right here. none of husband heard anything. we were getting set up for the press conference. and it happened really in a blink of an eye. none of us had time to react to notice what was going on, until the producers noticed someone

smashed her car window. there is video of the whole ordeal, the police you saw, the officer standing behind me. he responded and you know, is handling the situation. trying to get control of it, but again this is something that people that live here experience on a daily basis. neil: it was hillary vaughn and producer's car, how much they regret this right now. we'll see what happens. hillary, thank you very much. that is wild stuff. again, you don't need these reminders do you. it happens again and again, when you least expect it, to whom you least expect it, we're on that. we're also on why "the young & the restless" when it comes to living in new york city have said you know what, we're young we're restless and now we're out of here after this. ♪.

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♪. neil: all right. there is a great story in today's new york post that as people responding to this, a backup in interest rates a

30-year fixed closing in on 7%. that is backdrop for interesting item in the "new york post" many more people are beginning to leave the big apple, particularly young up-and-coming couples who say we had it. it is expensive to live here. rents are through the roof. we're out of here. it gets nastier when you see rates going up, prices going up. you think it is bad in your neck of the woods, in this city behind me it is obscenely bad, they add another 20% because they feel they can you will pay it and you will shut up. a lot of people are saying enough already. we're out of here. bess friedman, follows all things real estate on the rent an purchase front. i don't know how many are part of this phenomena now, bess, you hear about people making a good buck, couples together are making a good point, even that is not enough to pay for life in

the big apple. does it worry you? >> yeah. i mean i don't like this story. it is not a good story for us. as lincoln said people act on incentive, the prices are high, they can work from home, they are taking advantage of this and this story isn't new. this was happening pre-pandemic. neil: right. >> we saw people fleeing to no income tax states like texas and florida. this is old story. people are able to work from home. so they're taking advantage of that or going to places where it is less expensive but i read a stat this morning said the office occupancy rate since july have gone up 12%. it was like, 32%. now we're almost up to 50%. we're moving a little bit in the right direction but yes, we have some head winds here in new york, that is for sure. i agree with you for that. neil: we're seeing more crowds in building i work now. it is a little more crowded.

i have to share the elevator with people, whatever. having said that it is definitely coming back. i don't know at what point you say this is when it will be fully back. that would be sort of like the signal for real estate in this city which doesn't need any boost by the waive. to sort of hit a sweet spot. what do you think? >> i mean i think we're seeing numbers are moving in the right direction. as i said office occupancy rates are going up. the city is busier. the mta ridership percentages are way up. that is a really good sign. so those are good things. but it is going to take some time. the mayor has a lot his plate. working to quell homelessness and crime. those are big topics. the really big topic the legislators in albany. we need responsible tax policy. i can't say that enough. we don't want to drove people that make a lot of money out of the city. we need them here. it is good for our city. all those are important

conversations. listen, new york city in recalibration, this is the talent capital of the world. people will always come here, my opinion. neil: i think you're right about that but, some will leave regardless. see what happens. good seeing you. bess friedman. >> thank you, neil. neil: dow up 640. we'll have more ..

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