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♪ cheryl: the producers played that for me, because i'm working this weekend. [laughter] okay. welcome back to a second hour of cavuto "cavuto coast to coast." happy friday, everybody. for me, i guess, it's thursday. i'm cheryl casone, in for neil today. we've got a lot to get to this hour. first, president biden in egypt where he will tout his climate agenda after saying he will not change course after the midterms. the new policy that proves that he is sticking to his word and sticking it to oil and gas companies. plus, democratic congressman sean maloney is blaming members of his own party for his loss in new york this week. we're going to talk to new york republican congressman-elect marcus molinaro who turned a blue seat read for the first time in four years. and today we are honoring our veterans. dozens won congressional seats this midterm cycle. we're going to talk to a former navy seal and republican

congressman-elect, ryan zinke, about the impact he expects to have in d.c. we have a lot to get to, so let's get started. kicking this hour off with your markets. they're mixed right now after a strong rally yesterday. fox business' lauren simonetti joins us with what the markets are doing right now. lauren, take it away. >> reporter: i don't even know where to begin, cheryl. what a week. we'll try to get through it. today the market is mostly higher on hopes of smaller federal reserve are rate hikes, fine. bank of america says, look, we're likely going to see this december down shift to just a 50-point hike which means, yeah, the fed slows down, but does not veer from the course of bringing rates all the way up to 5-5.25%. and the university of michigan, this is amazing, americans were not as confident in their inflation expectations in the week leading up to the midterms, it actually worsened. so how did democrats do so well

with on tuesday? there's lots of theories. let me give you the market's. on mono, the dow rallied 420 points. then you have election day, huge turnout, more excitement. the dow's up another 300 or so. wednesday, well, that's when the results sink in, no red wave, and the dow dropped 647 points. yesterday, forget politics, it's all about inflation. it is moderating, and look at that rally of 1200 points. today, split decision. but for the week i'm proud to tell you all three major averages are up at least 3. for the nasdaq, it's having its best week since june. just yesterday the nasdaq added a trillion dollars in market value. and then we come to the crypto implosion, sam bankman-fried is out at ftx. it starts bankruptcy proceedings, and customers want their money. the miners, silvergate capital

just turned, then you see coinbase, it's rallying. maybe it can escape this crypto freefall. also adding to some of the goodwill today, a slight loosensover -- loosening of the covid restrictions in china. and carmakers, are retailers just surging, x punning is up 16.5 president. i'm excited to be done, basically now, and i think i need two days off after the week that we had. cheryl: yeah. you enjoy that, lauren simonetti. [laughter] way to rub it in. lauren, thank you very much. enjoy your friday. well, there is going to be a lot happening this weekend because president biden is heading oversees -- overseas to meet with world leaders for the cop27 climate conference as americans here at home are facing economic turmoil. edward lawrence is here to tell if me if i said that correctly,

because i'm not sure i did. hey, good to see you in new york, sir. >> reporter: exciting. cheryl: you were just telling me this is a little pit stop -- >> yeah, heading for that meeting with president biden and xi in china. president biden laid out a bold agenda for the u.s. and the world in the transition to electric energy. he's doubling down on the spending the u.s. is giving, adding $250 million to help developing countries shift away from fossil fuels. the president adding regulations to further cut the amount of methane gases released in the u.s. he also repledged that the u.s. will be net zero by 2050. then he apologized. listen. >> my administration has led is -- with a bold agenda to address the climate crisis and increase energy security at home and around the world. he immediately rejoined the

paris agreement. we convened major climate summits and reestablished -- [applause] i apologize we ever pulled out of the agreement. we established major economic -- >> reporter: so the president on the ground in egypt, only 180 minutes. mind you, it's a climate conference, let that sink in on the carbon footprint of air force one. he's on now to the asean summit and monday to bali where he will meet face to face with the chinese president, president xi. the national security adviser said e the leaders will talk about trade and taiwan among other things. >> the meeting between president biden and president xi will be an in-depth and substantive opportunity to better understand one another's priorities and intentions, to address differences and to identify areas where we can work together. because working together to address common problems is in our interest and because it is what the world expects of

responsible powers. >> reporter: chinese experts that i talked with today say the president's comment on wednesday at his news conference and now these commences are coming at the chinese not from a position of strength. so that's one of the things that they're worried about -- cheryl: so we're going into this weaker, is what you're saying -- >> reporter: that's what i'm being told from the outside, the chinese respond to strength. cheryl: xi jinping is a pan who, his former -- his predecessor true him -- threw him out in china. you saw that video. that was brute9al. and xi jinping is just sitting there, poor old man -- >> reporter: the fbi will tell you that a thousand investigations are opened per day into the chinese stealing technology and that kind of cyber theft -- cheryl: what are we supposed to get out of this, edward? >> reporter: and that's what the president was saying, is he's going to have -- he wants to see where the red lines are for china and see if there's an area to negotiate within that. you know, it's a question as to

why we're asking for the chinese's red lines -- cheryl: oh, can't wait until the word taiwan comes up. well, it was great to see you in new york. safe travels. a lot going on in bali next week. [laughter] a little jealous, that's okay. >> reporter: it'll be working. cheryl: edward lawrence from the beach. great to see you, sir. let's bring in price futures group senior analyst and fox news contributor phil flynn and tijana lowe from the washington examiner. biden took the midterms as a sign he should be staying the course on his agenda, phil. you've already written about this in your notes that you accept out for the full day. it's full steam ahead on his climate agenda, he's not stopping. >> it is. and we're going to see a lot of u.s. tax dollars go overseas to other countries. we're talking about millions and billions of dollars. and, you know, this methane reduction act really should be

called a movement towards reducing u.s. oil output because what it's going to do, cheryl, is put a lot of the mom and pop oil producers out of business. it's going to probably reduce u.s. oil production anywhere from 1-2 million barrels a day, and it's going to make your gasoline prices a lot higher than they already are. so this could be a very detrimental movement if they're too aggressive with this methane reduction act, and it could really hurt the economy. cheryl: which is already suffering, as we know. and tiana, what i can't get over is you got president biden heading over there to have this face to face with xi jinping. you want to talk about fixing the climate, china is the one that needs to be told to fix the climate. i'm sure that's what biden is going to say. but we have no indication that xi jinping has any interest in doing anything to save the climate. he cares about saving the communist party. >> oh, absolutely. and the fact that, you know, you

have john kerry doing a lot of the messaging, it makes it intensely frenetic because we know that john kerry fundamentally believes we need to work with our enemies and with our foreign adversaries to get stuff done which is why he always says we need to work with china when the fact is we use trade to work around china. work with vietnam which uses a lot of renewables, which has a much lower carbon footprint. i do want to pivot back real quick to what phil said. the big tell that this is about depressing domestic oil production is the fact that methane emissions largely come from agriculture and livestock, right? small mom and pop oil, oil drilling is responsible for a very small minority of those methane emissions. the fact that he's touting that and, you know, he mentions the, quote-unquote, inflation reduction act which really just was a climate change bill, he doesn't mention all the money that went into carbon capture,s into nuclear, anything that means we can produce more energy

with fewer me itses -- emissions but, rather, that in which he can constrain strain the agenda. cheryl: real quick, phil, he has decimated the spr. i'm not sure for what reason at this point. so is there any way that you think the spr could get filled up in the next few months? >> it can't. in fact, they're going to crane it down even more, and i'm really concerned about a major disruption this winter because i've talked to people at the spr. they really can't respond to any new emergencies. so this is a dangerous game. and while the biden administration can say, hey, it brought down gasoline prices for a little bit, you know, for a little bit before the election, you better wait until winter. that's when we're going to find out the real folly of drawing down our strategic reserves. cheryl: i was looking at the cpi report yesterday, the energy index had a jump of 17%. you can't ignore the numbers. that's what we've got here.

thank you both very much, great to see you. >> thank you. >> thank you. cheryl: all right. well, the arizona waiting game as the senate and governor races remain too close to call, we have got a live report from phoenix when "coast to coast" returns. ♪ -- crazy, i just can't sleep. ♪ i'm so excited, i'm in too deep. ♪ oh, crazy, but it feels all right -- ♪

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♪ cheryl: polls closing three days ago, but we're still waiting on results in a number of races. arizona is one of them, and that's where we'll probably still find kelly to grady for the next couple of days. you're in phoenix, obviously, and everyone is watching what's happening there. >> reporter: i know, cheryl. i feel like i live in maricopa now. it is lovely, so it's not too bad. yeah, we've got about 520,000 votes still to count here in arizona, the lion's share of those in maricopa county. and i know everyone's wondering, when are we going to get these results? the folks back here, they're tabulating the votes, and today they're starting in on those unprecedented 290,000 ballots

that were dropped off on election day. now, here in arizona you actually can't, by law, count them until the polls close, and chairman bill gates says that batch is going to determine the timeline. >> again, the biggest single factor would be the large number of late earlies that came in on election day, 70% more than the previous report. -- record. >> reporter: gop candidates also looking to those votes as the biggest fact factor that could bolsterster -- bolster their path to victory. last night's drop had ballots cropped off pretty through monday. both races are going to hinge on where they -- whether they look like the 2018 or 2020 split. blake masters would have to take them by an absolute lane slide. governor's race a lot tighter, 27,000 votes separating the two,

so these votes could be very impactful here. the gop candidates sharing they're extremely confident they'll break for them. those that dropped off on election cay, analysts expect their votes to trend republican given skepticism with mail-in voting. the timeline is being pushed out to next week for the count. so lots of -- cheryl: waiting. >> reporter: -- hoping and wishing and praying here. cheryl: i'm going to e-mail you a list of really great mexican restaurants, my mom is watching from maricopa county, we're going to set you up for the weekend. >> reporter: i love it. hi, cheryl's mom. [laughter] cheryl: kelly to grady, thank you very much. again, she'll be there new york stock exchange week. all right, democrats in new york are pointing at teach're -- each other for midterm outcomes. congressman sean patrick maloney, who lost his seat to a republican, now criticizing congresswoman alexandria

ocasio-cortez saying, quote: i didn't see her one minute of these midterms helping our house majority. let's be clear, she had almost nothing to do with what turned out to be a historic defense of our majority. didn't pay a dollar of dues, didn't do anything for our front-line candidates except give them money when they didn't want it from her. let's get the read from new york congressman-elect, republican marcus molinaro. sir, congratulations. >> thank you, i appreciate it. very humbling. very gratefulful. cheryl: well, i think you've earned it. i think the voters of new york loved what you ran on. you won new york's 19th congressional district. you're now returning the hudson valley's southern tier seat to republican hands. it's been four years. what do you think propelled your victory at the end of the day? >> yeah. listen, we ran a very disciplined race focused on the issues that face real new yorkers, the high cost of living, skyrocketing crime and a

corrupted, broken government that too often forgets and ignores the people of upstate. let me tell you it's now, in fact, republicans won -- it's how, in fact, republicans won all throughout the state of new york. frankly, we had great candidates who understood their constituents, future con constituents well, knew the issues facing families and campaigned on that tirelessly. cheryl: lee zeldin did not win as far as the governorship of new york. however, i'm curious if you think the democrats in this state have a kathy hochul problem, because there are several of them out there blaming her for the down ballot and saying that, in particular -- and this goes back to, you know, sean maloney -- he blamed her. of he blamed her for his loss. he said that he was not there, that they had to overcome leads, they had to overcome double-digit leads that they just couldn't overcome, basically. your take on that. >> well, first, listen, the democrats who lost, lost because

they are divorced from the realities that people face. and that was certainly the kathy hochul campaign, without question. lee zeldin brought energy and enthusiasm across the entire state. there is little question that his -- while we wanted him to win, his energized campaign really lifted the tide for a lot of candidates. i give him partially credit for the win here many new york 19 as well. governor hochul was divorced from the reality that we face, questioning why we would be worried about skyrocketing crime. because the policies that they've imposed on us have made it less safe. not understanding that our residents, our neighbors are paying the hay murder of taxes of any people in america. the governor didn't understand that. quite frankly, we've gone 20 years now with a corrupted state government, and new yorkers had enough. yeah, i think there should be some introspection, some looking in the mirror in albany because

the decisions they've made have made us less safe and less affordable, is and we need to confront that. cheryl: one thing that i've heard, i'm a new yorker, i voted in this state, i voted on tuesday. i keep hearing that lee zeldin probably would have won the governor withship if so many people that would have voted for him hadn't moved to florida. >> oh, that's -- you know, the irony, of course -- [laughter] is kathy hochul told me and lee zeldin to get on a bus and go to florida. that was her closing line some months ago. you're right. too many new yorkers have left the state the, frankly, had we had a tate that the respected them with more opportunity, yeah, he may have gotten over that hump. but he ran an awesome race and really deserves a great deal of credit for helping all of us. cheryl: republican candidates won 10 house races in the state of new york, and this is one of the -- this is the blue of the blue, if you live in new york. i think that says something. i think a lot of people need to

be on notice now. >> it does. cheryl: congressman-elect, congratulations again. thank you for being here. >> thank you. cheryl: all right. coming up, we're going to switch gears and talk a little housing. housing confidence sliding. more gauge rates are rising. -- mortgage rates are rising. we're going to look at the state of the real estate market. is your dream home out there? are you going to get a better deal next year? we'll be right back. ♪ -- to the river so deep. ♪ we all live in the ocean, we all start in the stream ♪ no matter your purpose, at pnc private bank we will work with you every step of the way to help you achieve it. so let us focus on the how. just tell us - what's your why? new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria.

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cheryl: well, markets rallying yesterday on the hopes inflation is cooling, but are shoppers seeing any relief in their grocery store bills? gerri willis is live in east chester, new york. gerri. >> reporter: hey, cheryl, that's right. yeah, we got that big boom in stocks yesterday, right? but even though we've given some

of that back, i have to tell you american families are not impressed by that 7.7% inflation number. they say it's painful. so we came to east chester to explain why. let's start with some of these year-over-year comparisons of costs. you think that a carton of eggs, like, that's the cheap way to get protein. not so much this year. up 43% year-over-year. milk higher by 14% year-over-year. you think you can save money on fruiters and vegetables, they're up 9% year-over-year with. so that's painful too. coffee is up 14% and butter, if you're a cook, you know what i'm talking about, this is up 33% year-over-year. and, of course, that means that thanksgiving is going to be more expensive, right? and we need to trade out some of those things you have every year. the thanksgiving turkey, it's higher by 16% since last october. and when you're looking at potatoes, that's something people use to stretch their males, that's -- meals, that's

higher by 15%. cranberries, well, good luck, that's higher by another 18%. and the pie, maybe some really good pumpkin pie, another 18% higher. so across the board, thanksgiving's going to be more expensive. and now people are saying that they think they can save more money by going out to eat. listen. >> i was thinking that we might do a combination of takeout and, like, make a couple of sides which could be more economical for us. >> reporter: so the comparison, the real numbers, going out to eat is up 8% year-over-year with. but guess what in you make your dinner at home, you're paying 12% more. so people are making those trade-offs. but i i have to tell you if you are cooking at home, it could be even more expensive because your utility bill is higher as well. and, cheryl, i've just got to tell you about the real tragedy in all of this. cookies are up 17%. cheryl: oh, come on.

that's just -- that's awful. [laughter] gerri willis -- >> reporter: right. [laughter] cheryl: you know, you're a great cook. i am not. so i guess i'm going to kind of win this year for not cooking. of. [laughter] >> reporter: maybe we should tally our expenditures and compare at the end of the year. cheryl: let's do a little segment on that. i like that. gerri willis, great report. thank you very much is. well, let's move to housing. more -- housing. mortgage rates rising above 7% for only the second time since april of 2002. housing confidence has plummeted. let's get the read from bess freeman. it's always great to talk to you. >> thank you, cheryl. cheryl: if you read the headlines, the housing market is cratering, the world is ending. is the world ending in real estate right now? the world is absolutely not ending. and i think that the challenges of the moment always appear worse than what was the past because the past is resolved. but if i think about the

pandemic and what we lived through then in housing, it was complete chaos, it was concern, it was economic, it was emotional. but today we're in a much better place, and there are some plausible pieces of good news. rates have ticked down under 7% if -- for a 30-year -- cheryl: mortgage bankers association on wednesday, it was still above 7. there's different reads. i don't think people understand, there's different reads. >> yes. but today i think the news is it dipped under 7%, but, you know, it's going to probably fluctuate a little9 bit million we get inflation under control. has inflation peaked? it may have, we hope it has. gases has come down. unemployment is at 3.7%, so there is some good news. it's not the end of the world in housing, but it is a wobbly market, for sure. cheryl: well, let's talk about this because, look, you know, the real estate market goes in cycles like the stock market does. >> that's right. cheryl: and the stock market, hey, maybe we are in, you

know -- it's a dip right now, right? real estate's probably not going to look so great price wise in 2023, but that means it may become a buyer's market. are sellers getting more realistic now in understanding that they're probably going to have to drop their price? >> i mean, that's the highlight. if i could take a highlighter and underline that, i think sellers need to hear that and they are hearing it. we're starting to see prices come down a little bit. it needs to be more, and i think it's a huge opportunity market for buyers. even though rates have doubled from, you know, what they were which was, you know, 2.5% or under 3%, it's still relative because it used to be in the double digits, mortgage rates. so i think there's a huge opportunity for buyers. and i think in a scare ad or tense market you can -- scared or tense market, you can negotiate and get a good deal. cheryl: my parent, i remember, paid 14% for their loan. >> exactly. cheryl: a lot of conversations that we're headed back that way, i don't think so we are.

>> i agree with you. i don't think we're headed into that. it's still a challenging market, but we're not in a market like post-lien where people are -- post-lehman, where people are walking away from contracts. things are really good, but everything looks bad compared to 2021 which was the best year in our history of 150 years in business. cheryl: gordon gekko always said greed is good, but i don't think it is in real estate at this point. [laughter] i always look for the good news in something, but it seems to me that the spring season, 2023, is going to be where we're finally going to see a buyer's market. it has been a seller's market. sellers, like you said in the break, champagne and caviar if you were sell anything 2021. '23 seems to me it's going to go the other direction. >> ill agree agree with that -- id agree with that, i think you're right. it's going to shift a little bit, and it depends on which market. palm beach is still a seller's market because of the demand.

because there's such high demand and low supply, there's still sort of a tug-of-war going on there. cheryl: business, always great to talk to you about real estate. you know it's my favorite topic. tune in to "american dream home" on fox business prime wednesday night, 9 p.m. eastern time. next week we're going back to the beach. if you're looking out the window and it's cold here in new york, join me next wednesday at the beach. coming up next, we're going to talk a look at the growing number of veterans running for office. we'll be right back. ♪ i throw my hands up, they're playing my song -- ♪ the butterflies fly away. ♪ nodding my head like, yeah. ♪ moving my hips like, yeah ♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this.

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and what i think is really interesting, and i want everybody listening to understand this, is that we're going to represent everybody. 48% of i my district didn't vote for me, and i'm going represent them as hard as i can like i did for the -- like i will be doing for the 52% that did. and we need to get back to a place in politics in the united states of america where we forget about the letters after someone's name and realize that we are all in this together. cheryl: that was wisconsin congressman-elect and retire navy seal derek van orderren who joined neil yesterday. so far 79 veterans have been elected to congress this midterm election and another 1 is joining me now on this veterans day. republican congressman-elect from montana and former navy seal ryan zinke. sir, congratulations. >> great to be with you on veterans day, a special day, indeed. cheryl: it really is. especially for you with. i'm sure les a lot to celebrate, a lot of work ahead for you. but what do you think really

propelled you to win this seat? what really resonated when you ran? >> you know, our country's in peril regardless of whether you're republican or democrat, independent. we're all seeing the same thing, we're seeing an abandonment of our troops in afghanistan, we're seeing an economy that's on its ear with high energy costs, inflation, supply chain, no border, and we're seeing a failure, a cultural side failure, when boys can playgirls' spirit sports and puberty blocking is being pumped in schools and our founding fathers are racists. that's a problem. and having veterans come in that served this country, fought for this country and understand the importance of the constitution a, i think, is a great tone. and it is going to be red, white and blue, and there are a numbea number of green berets, rangers, special forces, combat veterans both men and women, that are coming to d.c. for one purpose,

is to defend the constitution and make sure we turn this ship around. cheryl: well, congressman-elect, i wanted to get your reaction to former president trump's recent comments hitting florida governor desantis. you served under trump as his interior secretary. is this type of rhetoric helpful? at a time when the gop is fighting for a majority in the senate and really the red wave kind of became a red puddle on tuesday. >> yeah, it certainly was not the great wave that we expected. and it's going to have some challenges. it's going to have some challenges in the house, the unification of a message, making sure we have the votes to curb the budget. not every bill's going to be perfect, but we have to make progress. and i think that's what the election definitely said is, look, we want action, and we want things done. so the political bantering back and forth both in the party and outside the party between

republicans and democrats, i think the american people have said we want things to get done. we're tired of the gridlock, we have problems in our country. and so on the republican side, i think the unification of message, you know, i worked for president trump. he was a great boss, quite frankly, gave me a lot of latitude to do what i needed to do in interior. i know ron desantis, i've served with ron up in montana, he's great. so the good thing is we have some wonderful candidates and some great patriots in the party, and i hope as we go forward the rhetoric becomes a little less between the camps and focus on fixing this country. cheryl: well, you know, ryan, i have to be clear here, you know, the lieutenant governor of virginia, winsome sears, was on with neil cavuto yesterday on this program, and he asked her if donald trump decides to run again for 2024, would she support him. her answer was, no.

and she said that she thinks it's time for the republican party to move forward. do you agree with her? >> you know, i think it's too early to start calling. you know, the process is long. you know, i've worked with the president, again, he was a great boss. i certainly respect him, and aye worked for ron. -- i've worked for ron. let's see where it goes. you know, there's -- i see, like most people, "wall street journal," a lot of pundits out there saying the republican party has shifted. if there's a shift, i don't see much as far as a shift. so the good thing is we have great candidates to choose from. we'll go bard -- forward, we'll figure it out. my imoax, quite frankly, is in the american congress because the american people expect us to get done, and the expectation, i would think, to curb the budget. certainly, congress should reestablish the power of the purse. we should investigate what's

important but don't abuse the power. we saw the pelosi administration abuse the power grossly on overreach and investigations, and we should not take the bait. there needs to be a right and left, a right and wrong, and i think think the are republican party should saddle on the moral high ground and do what's right for this country. cheryl: well, and, obviously, you're going to do what's right for the people of montana. it is god's country. i was was just there, it's a beautiful state -- >> well, come on back. there's no reason you can't do this remotely from bozeman. come on up -- cheryl: that's where i was. oh, i'm coming back. hear me now, i will be back. sir, congratulations, we can't wait to see what you do in washington. >> happy veterans day and god bless, everybody. cheryl: to you as well. we've got a lot more coming up. house and senate control still up for grabs. how midterm results are deepening concerns for the crisis at the border. ♪ -- on a plane. ♪ they're coming to america.

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cheryl: cryptocurrency exchange ftx files for bankruptcy as ceo sam bankman-fried steps down. fox business' charlie gasparino has got more on why this chaos make take center stage in washington. charlie. >> there's some interesting connections between the current sec chief, gary gensler, and mrt resigned from ftx, and there's a huge investigation going on about ftx and why it imploded and did it comingle funds with a sister company called alameda which is, essentially, a hedge fund or a family office run by mr. bankman-fried. this is going to be interesting. there's an mf global component as well because it's hard to get your money out when you declare bankruptcy as occurred today. but the short of show in a -- sort of show in washington will focus on gary gensler and ft, and. there was a march meeting

between gensler and ftx, and brad cats yam ma of the iex exchange talking, essentially, about industry issues. that occurred in the march. that's according to gary gensler's public calendar. we don't have the calendar's after concern calendars are after june, so we don't know if he whet with him again. what did gary gensler know, what type of relationship did he have with mr. bankman-fried who's, by the way, a huge democratic. >> contributor. and9 if the republicans take criminal of the house, there's going to be the hearings on this, and it could get pretty dicey for mr. gensler. what's interesting also is some of the connections between ftx and mit, the place gary gensler worked in the past before he came to the securities and exchange commission after he left the cftc, he was part of

mit's crypto lab. and, again, mr. bankman-fried has some connection with him. that's hissal a ma matter, mit. so people are starting to draw all these connections between gary gensler and bankman-fried. we should point out they could be complete he innocent. the the sec said their meeting, against her's meeting with bankman-fried was routine. but, again, the republicans, if they get control of congress in the house financial service services, patrick mchenry, they're going to look at this, and they're going to ask, okay, we want to know what you knew and if you're going to do a crackdown on cryptocurrency enforcement, we want to understand some of your conflicts of interest with various industry players. cheryl, back to you. cheryl: thank you for that so much, sir. well, all eyes are on the border crisis as control of congress remains up for grabs. charlie just mentioned that. former acting i.c.e. director tom homan joins me now. so, tom, how do you expect the outcome of the elections to

impact immigration policy and, more importantly, the border? >> well, i'm disappointed. i don't think it's going to affect it as much as if there would have been the red wave, correct? but if we take -- if the republicans take the house, they will have power of the purse, right in and that's about the only thing heavy got because president biden still has the power of the executive pen. he can make executive decisions. but if the house republicans control the budget, then they can hold the administration responsible for what's happening on the border. for instance, they can say, look, you need to take some sort of steps to secure this border. show us one thing that's slowing the flow or we'll shut it down. and people have been saying, well, that's a pretty drastic move to shut the government down. okay, what does it take? we've got over 100,000 americans who have died from fentanyl, over 1400 dead migrants on u.s. soil since he took office, right in and we've got a record number of illegal immigrants coming in across the country.

and when that happens, you overwhelm the border patrol. 8ing 0% are no longer on the line to process these groups which means fentanyl comes across, criminals come across, and known suspected terrorists come across. they've arrested 114 known suspected terrorists, how many of the gotaways are suspected terrorists? what does it take to threaten to shut do the government down? i think we're this. cheryl: where should the funding go, tom? if they're going to get more money at the border, where should the money go? >> to i.c.e., immigration customs enforcement. look, there are over 20 million illegal aliens in this country. the hundreds of thousands that entered the country just this past year, 88.7% of them have lost their hearing, they've been ordered removedden i.c.e. needs to find them and remove them. you can't demand -- the democrat ors demand, they've got a right to claim asylum, i agree, but

you've got to support the system the entire way through. if you give them due process, they have a hearing and get ored removed, you must execute those orders of removals, or the process means nothing. shut the immigration courts down. if the judge's order doesn't mean anything, shut them down too. we have to follow through with the process. give i.c.e. some money, have more detention beds, more agents to make sure that those removed from due process are are removed. and that would send a strong message, if you lose your case, you're going home. cheryl: tom the, switching gears, there's been some political rhetoric here in new york about these migrant buses that governor abbott has been sending up to new york city that, oh, now that the midterms are over, no more migrant buses. what do you make of that? >> actually, governor abbott is going to be sending more migrant buses. i think it's a good idea. i think that caused republic -- excuse me, that caused democratic governors and major city mayors to speak out about

the issue which put it back on the front page. the administration has bussed 1.7 million since biden's been in office, so these governors, a few thousand count compare to 1.7 the biden administration has done. so i think it's a good move, they need to keep doing it. cheryl: and it sounds to me again, and you mentioned this earlier, that you're disappointed that you don't think the border is going to be more of an issue over the next two years. we've got from now until 2024 when we've got a presidential election. wouldn't it be smart on the part of republicans to continue to bring up the southern border in a bid to maybe see joe biden not get a second term in -- term? >> oh, absolutely. that's not what i meant. they're not going to shut me up, and they better not shut up, the gop, about this border crisis. if my point was how much power do they have to change things? as long as joe biden has the executive pen, he's going to make foolish decisions with

strategy. this is the only network talking about it, thank god, and that's why most americans don't even realize there's a border crisis, because they're watching other networks. no, we need to keep the heat on because this will be a major issue in 2024, absolutely. cheryl: and we will have you back very soon. tom homan, thank you, sir. >> good to see you. cheryl: all right. well, the s&p and the nasdaq having their best week since june. we are going to follow all the moves as wall street tries to bill on its biggest -- build on its biggest one-day rally in two years. ♪ ♪ rocking in the usa ♪ if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision.

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once he's all on his own? this is financial security. and lincoln financial solutions will help you get there. as you plan, protect and retire. ♪ # >> rite now the dow is down only 38 and sometimes i like to take credit for how well the market does and i know charles payne is the same that i think buzz from cc to cp. charles: we call it the cp squared. thank you, cheryl. good afternoon. i'm charles payne. this is making money. right now, you've been waiting for the bottom. you've been getting beat up pretty good. you've been waiting basemented