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ibly20 we are piping it live to the federal reserve, jerome powell finds that comforting, the largest central bank, high interest rates for the fourth time in a row by 3 quarters of a point bringing us 4% quadruple what we were at the beginning of the year. the student start until march of this year. we are in our from that and the question is what we see after that. the expert press ceo, scott martin, managing cio, what are you looking at from the fed? >> no reason to think we are not looking at that 75 basis point thing. what are you looking at for the

fed, beyond that i sensed this from our business and other people i'm talking to, we are in our first year out of the pandemic. i sense supply chains are on thinking, we are seeing some return to normalcy and it has been a long time after shortages of things and my guess is the other pressure that's not just financial is lifted off. i'm guessing this is our last big lift but that is just me. ibly20 say the fed does what is expected, heights interest rate by 3 cordova point but won't be that big but might be halfway, but since that is the expectation how are markets going to respond? >> pretty tamely.

the markets are expecting it. if the fed does not give trajectory they selloff and a couple pieces of data, two cpi reports could determine what the fed does in december so they are cloaked until that data comes out and determine what they do at the end of december. ibly20 i wonder how high, and the fed funds rate. and could go higher from their. the fed has to be careful is indicated and district presidents and the governors indicated they don't want to tank the economy. might be too late but what are your thoughts? >> i have trouble with that notion that the trajectory of a recession is so predictable.

what they clearly don't want to do is create and turning cranks far enough, and that is clearly sort of backed off. how high is high, a little bit higher. i sense it's not a lot beyond that. ibly20 i since the markets hope for a sign of a pivot or ignoring stronger economic news, not all the time but lately more of the time. does that to you represent a turn in market thinking? >> potentially. the better economic data let's the fed keep going, they want

to cool the economy off. more lackluster data and we need to pause which would put equities up and push rates down which is what the market wants to here. neil: they might get data out today to expand jobs continuing to be out there, private sector jobs growing at a faster clip. and they keep hiking. lucas tomlinson, the energy fund, they pay for those higher costs on gasoline, at this point, the talk is expand

energy production, they are doing something else. >> would be huge news, previously unscheduled speech, at union station, the train station in washington dc, be given in the columbus club, the reason i was here, with low income, pay their bills so of course the white house says they will pay for this using the inflation reduction act, the energy secretary saying as prices rid read high the administration looking to cut costs for working families, investments were consumer rebates for home improvements

and energy efficient appliances nationwide. the white house plan will be paid by the inflation reduction act, making $4.5 billion to have low income homes. energy's apartment will spent $9 billion in a rebate program. the goal is for energy upgrades to help one. 6 million households over the next 10 years, this coming a week before the midterm elections. senator john barrasso on his energy program. >> the president and democrats declared war on american energy, the keystone xl pipeline, blocked oil and gas exploration and the american people are paying a high price for this at the pump, at the grocery store, ever since. >> americans want to see more drilling in the united states including the dakotas. neil: senator john hogan, always good to have you.

they are doing everything except expanding production. what do you make of this effort to help american families lower their energy bills? >> they are providing a subsidy but that won't solve the problem. the problem is supply and demand. we need more supplier they restrict supply and the president talks about windfall taxes and those kind of things and you remember president reagan said if you want less of something, tax and regulate it and that is what the biden administration is doing, putting the handcuffs on energy producers and the solution is simple, produce more supply here at home. if they would send the signal they are going to help our energy producers you would see energy prices go down right away even before the supply comes to the market because of the signal to the market that there's going to be more spike. neil: exactly right. or your is a commodity trade on

global markets and no accident the administration took power january twentieth 2,020 one, first thing it did was announce it was shutting down keystone. not a drop of oil was coming from there but not a drop of oil whatever come from their started to lift energy prices half of which came before the first russian boots were anywhere near ukraine. glad you pointed that out but i am beginning to wonder if even a promise by the administration that energy companies can go ahead and drill for more oil, whether they will especially when the signal is that they want us to be fossil fuel free in a decade or so. what would encourage the industry to want to drill and in environment where it is being drilled into them, nope unintended, you are a dinosaur and you are going to be gone in a decade?

>> that is just it. it has got to be real. you mentioned keystone pipeline. how about the moratorium on leasing on federal lands, the fact they say there are leases available but don't provide drilling permits, they tie that up in bureaucracy and if a company gets a permit they are sued in court. what about esg restrictions on lenders? it can't be fake. it has got to be real but no kidding. if you take the handcuffs off and tell the most advanced environmentally sound energy efficient low cost industry in the world to produce more energy, from oil and gas and coal and different sources they will do it and they will not only do it more cost-effectively and dependably, table do it with the best environmental stewardship in the world. neil: you hope to see the senate shake hands and go republican like the house but we still have a democratic president, you can't get everything you want.

what can we envision out of a republican senate to foster this conversation or is it a moot point? >> we are pushing to get the right kind of policies. in terms of stopping, the biden agenda, causing inflation. raising prices at the pump and grocery store, and the supply-chain issues, regulation, we need to get the white house, the right policies in place to grow this economy, more supply, all these things that will kill inflation. neil: thank you for following all that very closely. in the meantime, the push to deal with crime in this country and governor hochul in new york

doing everything to address that crime in her state. try telling that to a grieving buffalo mom who blames the governor for the no cash bail that prompted her daughter's murder after this. as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com [coughing] hi, susan. honey. yeah. i respect that. but that cough looks pretty bad. try this robitussin honey. the real honey you love, plus the powerful cough relief you need.

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neil: it isn't the guns. it is the bail. a lot of guns but not a lot of substance behind bail that allows criminals, hardened criminals to have a turnstile going around and around and getting back out and doing harm but there is a particularly -- a case of a buffalo mom who knows firsthand how tragic the bail situation has become it is angry at the governor of new york as a result. the latest from david lee miller. >> reporter: the mother of a woman shot to death by her strained -- estranged husband, governor kathy hochul, this began in late september. keira beenfield showed her being beaten by her husband at her home near buffalo. after viewing the recording

cops charged him with third-degree assault and other misdemeanors. under new york state law the charges did not give discretion to require bail. and reportedly served an order of protection a day after he was released, cops say he shot and killed his wife. he's now behind bars on other charges. the alleged killer had a violent pass, serve 15 years for a tempting to kidnap an ex-girlfriend, new york law does not allow a judge to consider whether a defendant is a danger to the community. appeals court blasted governor hochul's support for cashless bail telling the post hochul should be charged with a crime. she is also responsible. the local district attorneys is current bail laws restrict judges from making decisions that could save lives. >> when they do not have

discretion and reach someone automatically, anyone who argues it wasn't a contributing factor is plain wrong. >> reporter: a spokesman called this tragic and horrific and top priority keeping new yorkers safe and is working with lawmakers to crackdown on gun violence as well as recidivism. neil: ted williams with us, a homicide detective, former defense attorney. i still don't understand why the judge in this case, to keep this assailant behind bars. was there no latitude? i am aware of the video and other stuff, you are not getting out.

>> you and i have been on the airwaves in many occasions and this upsets me. you have a mother with three children, to see a mother guns down in front of them and you have to wonder what happened with the system. the bail reform system in new york is set to help criminals and not the law-abiding citizens and in this instance, this guy, adam, was charged with a misdemeanor. as a result there is no discretion the judge has in letting him out and this is the way the law is set. when you think about it, this guy beat the hell out of this woman and was let out of jail on a misdemeanor charge. unacceptable.

neil: serving from ignorance, what would stop the judge who says i am aware of the back story, i am aware of the repeated times police had come responding to violence against this former girlfriend and wife. i am not going to let him go. what would happen to him? >> i think he could be overruled by the court of appeal of the judge took that position because that is the way the law is written in new york. the laws the way they are written are to benefit criminals and again, not law-abiding citizens unfortunately. something has to be done about it. neil: poor individuals who didn't have the wherewithal to

raise the cash to fight a charge meant to protect them but it has gone beyond that. hasn't it? >> absolutely right. it was to benefit minorities who did not have money but the problem is minorities are the victims of this law. there are law-abiding minority people who are being trashed, being assaulted to. over and over we see in new york individuals on the street being assaulted and the majority of these individuals are minority people. neil: it is sad, the numbers are startling. ted williams, thank you very much. ted following all of that. it keeps happening again and again. in new york the crime issue supersedes inflation and the economy. we will keep you posted and

keep you posted on develop and, all the controversy the world's richest man is getting having taken over twitter, referring to a lawn musk goons taking over content, firing people willy-nilly. the talk in the old days about when they would dismiss conservative thought. back then those were different things. after this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living.

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neil: elon musk has been busy since taking over twitter but his plans for the company and how users of the social media site in general pay for that is in the eye of the beholder.

ashley webster is following all of that. ashley: it changes every second with him on musk. for $8 a month you could have a blue take next to your name meaning it is a verified account. that symbol next to a username has normally been used for high-profile figures but musk is criticizing that methodology as a lords and peasants system. reports say musk plans to convert the $4.99 optional premium service twitter blue which allows users to edit their tweets into a mandatory program for those wanting to retain their verified status. users would have 90 days to subscribe to the new program or they will. lose their checkmark. paid users would have paid verification and priority in replies and searches and

encounter half as many advertisements. critics have been quick to jump in claiming the buying of a blue take will make it harder to identify reliable sources and spot disinformation but musk is defiant calling the current twitter system bs while promoting his new version as power to the people. the washington post reporting musk is considering a paid video feature where creators get paid every time you click on their video and have to go through a pay wall with twitter taking a slice of the fee. all of these are suggestions. the start time for any new program has not been officially announced but there are reports that mister musk is cracking the whip wanting these programs in place as soon as possible. start generating some cash. neil: to hear the press and what the intentions are the world's richest man for twitter you think the nazis have taken

over or his goons had taken over. vivek ramashwami joins me, manager and exit of chairman -- executive chairman, best-selling author, this new standard that i hear being applied to elon musk is very different than what applied to the old twitter where marginalizing conservative views was okay but offering all types of views not okay and that is just for starters. what do you think of the reception musk is getting? >> this is revealing a fundamental debate we need to have. are we a nation of free speech or are we not? that used to be a left-wing value. today it is embraced by the right. i don't think it should be a partisan issue i don't think it is a partisan issue. i think america is at its best

when we have a culture of open debate and twitter can be a better company with free speech and open debate, not inadvertently alienating half the country and some of its most valuable customers and users in the process and one source of pressure on elon musk is likely advertisers pressuring him to make sure it's not a free-speech platform which is why the business movies making fits that vision really well to say the business can reduce its reliance on advertisers so they can realize its new mission to be a platform for free-speech across the political spectrum. neil: some of them aren't giving him a chance. general motors just made some noise that they were holding back. i imagine a number of other blue chip authorizes might do the same but i didn't see their concern about stilted opinion when it was all one way in the prior regime. >> the hypocrisy of corporate

america is laughable and has been for a long time. many advertisers say if he allows donald trump back on the platform signaling they will lose their customer relationship with twitter even if they say nothing as dictators and despots from other countries are making actively violent statement on twitter and elsewhere as they continue to tweak freely including by the taliban as it was taking over. this is hypocrisy at its worst. that's not unfamiliar. the deeper question, to set a quick path forward to say this content moderation is required for twitter to be a usable platform at all. i'm talking about spam, pornography, that literate user's feed and make the platform unusable. the fact that we do not discriminate on the basis of viewpoint. no viewpoint.

comfortable for corporate advertisers but that's part of the reality of what it means to operate the platform and i hope there is time to see that. neil: hate speech is in the eye of the beholder. it was deemed hate speech, any conservative thought, quiet and shutting that down. all is fair game on a twitter site that will entertain all points of view, advertisers take away the cool factor the weight is portrayed, twitter is in school anymore the more musk does this the less cooled it is going to be and we will make sure he suffers as a result. >> i think the more cool it becomes. free-speech is an iconoclastic progressive value a few decades ago. there's a technical solution advocated on the wall street journal and elsewhere. if you like the current

censorship regime is a user don't change a thing. give the user the ability to opt into that, you give the decision to the user. what is cooler than that? decentralization, give power to the individual. individual users say i don't want to see hate speech or what you use to consider to be misinformation. give the same censorship protocols but everyone else, i will opt into an open set of protocols that allows me to see what i need to see and that's a hard argument for someone to overcome that empowering the user is not the right answer rather than a top-down determination. neil: your approach to this was brilliant, some will interpret that as standing by a some sort of policeing going on but the option to opt out into a system that won't have that so aren't you ceding to that sector of

the population that wants to be babied in this? >> that is a deeper problem that social media is not going to fix. you have the echo chambers on cable news, people tuning in adhering what they want to hear, what websites people go to. it's a problem in our culture. i don't want to see echo chambers and silos but it is not something twitter is uniquely able to fix. that something we need to fix in our culture. we do live for better or worse i think for the better in a free country where people are free to choose what they do and don't get to see, the problem with twitter the last several years, facebook and other social media platforms, they violated that principle by saying we have a centralized top-down determination of what everyone gets to see and that needs to end and what i regret, if users segregate themselves into siloed echo chambers, that is regrettable but that's our job to fix as citizens of the culture, too much to ask of twitter. . with the be aware of anyone who tries to police that content.

what are they deciding that judges that content? it is very dangerous. >> there could be multiple approaches. at the end of the day decentralization means each user gets to set their own filters and settings. these are the things i want to see, the things i don't want to see. that's a hard system so argument that people can't determine what with all what they see on the internet. with the advertising model it becomes difficult because the company is beholden to have its revenue streams by other corporations. if you charge the user the user is back in charge, if you get value out of the platform great but at the end of the day if you're paying for you have to say in determining what you do and don't get to see, and unassailable approach that protects free speech and open discourse to the extent a social media platform can and the rest is up to our citizenry to reawaken civic commitments to free speech and open debate which is the next frontier in our culture. neil: i agree with you on that.

we have all gotten too thin-skinned but a good read on that. vivek ramashwami, you put it in perspective. in a way, we've gotten a little too sensitive to that stuff. more after this.

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neil: all across the country are ridiculously close races. in nevada which has those developments in las vegas. >> reporter: good to be with you. democrats facing significant

head wents like i am, in las vegas, not what i expected but since 2008, democrats have won every governors race, each senate seat since that time and in a week's time that is poised, part of that change, perhaps all of it. democratic senator catherine cortez masto trying to keep the momentum of the attorney general at bay. suffolk university paul, senator cortez masto is holding onto one point lead, well within the margin of error despite being america's first latina us senator, she only holds attend point lead among hispanic voters according to the survey. right now the bus tour around the state, he emphasized critical and costly the senate race has become.

>> the bottom line is she's running away from her record. every second of this race, which is why we pulled ahead. it is a tight race and they are spending $90 million to defeat me, but this is the 51st seat, the democrats want to save her. >> reporter: former president barack obama released a new ad in this support of senator cortez masto, telling attendees to get off the couch and vote. >> feeling cynical is not an option. the only way to make this economy fair is if we, all of us fight for it. the only way to save democracy is if we together fight for it. >> reporter: the democrat side, voters talk about preserving voter rights, the issue of abortion but it is on the

economy republicans have made gains. nevada's price of gas third-highest in the nation hovering around $5 a gallon. neil: where's waldo? you are in a different state every day and you never forget. everything is on the line. one more piece of information we will have her voters who show up in person to vote next tuesday is what is coming out in 20 minutes. hike in interest rates after this. is it possible the only thought that comes to mind is... ♪ finally? this is financial security. and lincoln financial solutions

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neil: a word that we are a few minutes from another big hike in interest rates, 3 quarters of a point, overnight bank lending rate known as federal funds bringing us to 4% quadruple what we were when it started, we were at 0. charles: the market, the dow is

trading, the nasdaq and the s&p, i am hearing a dichotomy between people who watch the fed and interpret its moves and sources at the fed and big investors. the pivot language, these rate increases stop, obviously we get 75, something extraordinary, 75 basis point increase, federal funds rate today but the fed watchers i talked to, it corresponds with larry summers, top economist for the nation, the treasury secretary, he's going to meet the 2% inflation target, you are not talking pivot language anytime soon. they expect powell to be very hard on saying something bearish for the market, hawkish on inflation.

maybe signal they will do what it takes to get to that 2% inflation targets. fed watchers telling me be careful on this pivot parade. the market likes pivots, they like free money, the fed is less concerned about markets. and we have high inflation down from 8% still at 7% which is been pretty high for the last 40 years or so. if you think the fed will pivot and you buy stocks. people that are paid to interpret what the fed is doing, they are skeptical about that. interesting trade. the market is getting on this. neil: they must be aware, they were hoping to see signs that inflation is buckling.

we haven't seen that. they were right that it will take a long time to see these rate hikes come to fruition and have the effect we had but you can't tell me one or 2 members are concerned after almost a year of this, actually 9 months of this, hasn't happened, haven't seen material impact. >> craig: charles: inflation is much higher than the fund rate. the situation is almost historic, the federal reserve, flipping so much money, the balance sheet, the debt to gdp fiscal policy is something like 100% of gdp. we went through an incredible

fiscal policy, almost always, it is hard to get rid of it. my fed watching sources say they are skeptical powell will go in and take a breather in a couple minutes. neil: doesn't seem like the take a breather type. want to go to the international economist for the treasury department's view on this. this notion that maybe the fed hope by now and i could be wrong, would have seen some indication inflation is beginning to slow with rate of increases. we have bits of that, but after 9 months of this not nearly what you would think. it takes longer but inflation building on the fed and they are getting anxious about it.

>> there between a rock and a hard place. locators they are looking at guiding them, lagging indicator looking at wage inflation, service inflation, rent and cpi index, they are high, the problem is they lag significantly. these indicators indicate an inflation problem in 2021. they may be worried they are looking at indicators looking through the rearview mirror and may overcorrect. those indicators indicating heat in the economy and the labor markets which doesn't want to die off but there are signs the economy is cooling, look at good quarters, housing, leading indicators, the strong dollar, they indicate they are getting close to where the pivot is needed. there's a huge information problem.

neil: you said it better than i could. do you consider what this is doing to the nation's borrowing costs, added anywhere depending on the numbers, $200 billion a year in finance cost, going prohibitively higher so how much does that way into their thinking? does that give them pause? dealing with this inflation once and for all. >> they are hell-bent on dealing with this inflation. they effectively have one mandate. full employment, price stability, they have one mandate and they will do that until it is done. i don't think they are looking at financing costs. that is treasuries job. treasury is doing a good thing, the average maturity of public

debt is going up. to the extent they locked in long-term rates before this happened, if they lock in high rates that is a problem. neil: if republicans take over the house and the senate they promise tax cuts, the big impediment is the president but we learn from the experience of britain the tax cuts are as bad as spending if it is not paid for. will republicans be held to the same short leash? >> previous experience is a guide, i would say not under donald trump they didn't seem as concerned about deficits. going forward maybe they will with a democrat in the white house. neil: in light of the inflationary environment, might have been forgiven in the past isn't now. >> that is fair and maybe they will be more proactive.

there's discussion about the debt ceiling suggesting they are more hawkish on this front. the best thing republicans can do is support the fed's efforts, they need to have the backing, senator elizabeth warren sent threatening letters to the fed. republicans, the best thing they can do is show they support these actions. . 20 that is well put, former international economist with the treasury department. in the meantime we are up 52 points. a few minutes from seeing what the fed is thinking and getting a sense of where this is going after that after this.

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neil: you can really cut the tension with a knife now. coming up in 30 seconding of course our charles payne to get the fed move here. they seem to be betting on a 3/4 point hike. what they are forecasting in december or signaling for december with we expect to see another rate hike maybe not big one. maybe just a half a point one. that is the environment which we live no matter how you slice it by the end of the day we will be up four times in interest rates from the start of the year and they're not done, are they? the dow is up 30 points. take you to my friend charles payne. charles: so much for not being paul volckeresque. maybe too much paul volcker. neil: right. charles: thank you, my friend, appreciate it. i'm charles payne. this is indeed "making money."

breaking right now the moment is here. as neil mentioned the fed expected to hike rates another 75 basis point but what happens from here? that is the big question. this has become a modern day circus maximus. 30 seconds ago the white house chimed to express how the fed is independent. we'll help you thrive through all of this. look at line up. phil blancato. daniel green. danielle dimartino booth. he wants to rammed up the move to the green utopia but this might not be the way to get there, berating big oil and charging more for their profits. that will not drill more oil. we'll explain, this is the second biggest issue in the market. at 215 i got market rebel cone copounder jon najarian. now to edward lawrence. reporter: federal reserve is