stuart: here is the question for how many days was the battle of gettysburg fought in the civil war? you're first, ashley. >> 15 days, number two. stuart: mark tepper? >> i was going to go with that. let's go with 15 days. stuart: i will go with three days on the grounds the "gettysburg address" was extremely short. perhaps the battle was short. what is the answer. well look at that, oh. that was pure guess on my part. >> like your logic. logic was strong. stuart: three days is the answer. how about that. mark thanks for being with us this morning. ashley, don't be lonely in florida. it's wonderful state. time's up for me, "coast to coast" starts now.

neil: we interrupt this fixation with the fed, what it will do with our money to bring you the latest on the debt fight. how fast we're running out of money. we got you covered fair and balanced always, with colorado democratic senator michael bennet raising ceiling without either side raising the roof. tennessee senator bill hagerty on protecting the nation's credit rating if we don't get a soon. that is distinctly possible. a texas mayor is warning, title 42 goes away next week but the illegal surge is on right now. what could be our last rate hike of the year, i stress could be. you know how the fed con sometimes fool you. i'm neil cavuto. let's go to my buddy edward lawrence at the white house to lay it all out for us. hey, edward. >> reporter: neil, we're expecting a 25 basis-point hike. 83% of the market believes that

is going to unfold at 2:00 eastern time when federal reserve chairman makes the announcement. what we're looking for in the fed's statement, if a clue a pause will be signaled. the fed has 12, 8 to 12 month lag when they do something to when the effect hits the economy. you see the fed starting a agressively hiking about 13 months ago. so today the abp private payroll report blew away expectations coming in at 296,000 jobs added last month. much hotter than expected. not what the federal reserve wants to see. but the jobs report on friday holds more weight. we'll likely see a 25 basis-point hike today. that has been signaled. puts the fed in the target range for yearly expectations. former kansas city federal reserve president tomas hoenig expect as longer pause than the market thinks. >> i think the fed will risk a recession because if they don't get inflation down it will only get worse, therefore we will

have more instability aarp the inflation because people can't make decisions when you have seven, eight, 9% inflation. those are the trade offs they're recognizing a little late perhaps. >> reporter: they need the job growth to slow. average hourly raises to slightly come down. housing industry to slow a little bit more. all of that will bring inflation back to the fed's target but the data is not showing exactly what the fed wants to see, neil? neil: thank you for that edward. about two hours away what we can expect, what implications of the move will be. any rate hike would be the 10th of this cycle most aggressive in four decades. lou basenese joins us, remember rin gibbs. what are you expecting.

>> 25 bps. i'm with the consensus. we're looking at 25 bps. neil: basis points. >> basis points yes. neil: you guys are so cool. >> one quarter of a percent. neil: would that be it? >> you know, right now, looking at, as we just saw the jobs report, looking at wage growth, and so we saw about 1.3, 1 1/2% wage growth in the first quarter of this year just on the back of 1.1 in the fourth quarter of last year. that means that even though we're hearing numbers about hayoffs, we're still seeing wage growth keep coming up. neil:adp was off the charts. >> exactly. until the growth stops i think the fed could remain aggressive. we need to see wage growth to sort of stablize in order for inflation numbers to come down, for the fed to back off. neil: got it. lou, we were talking about the adp jobs report.

private payrolls, 300,000 in the latest period. you could extend this to say it isn't hike in may go away. maybe given a strong report like that the fed sort of couches it. what do you think? >> i think they take a very aggressive stance. the labor market is key. until we bring the labor market under control. inflation is only one side of the equation. definitely 25 basis points this meeting. i think we get another 25 basis points in june or july. neil: really? >> everyone thinks that powell is the foolish one. investors are foolish. market is pricing in two rate cuts before the end of the year. neil: really? >> latest out of -- that is banana peel waiting to step on. if it does happen we're in really bad mace because the fed has to move swiftly. neil: people bet on fed fund contracts, the rates will head down? >> pricing in two rate cuts before the end of this year. it makes zero sense. if that becomes reality, there is some other shoe that is going

to drop that will cause the fed to do that. severe -- >> banking recession. neil: more bank troubles, what do you think? >> more rate cuts. i would love to see the stabilization requested of cutting befored end of choir, it takes six months to process hikes or cut. that would be increased banking crisis. some type of real recession. neil: are you guys surprised, i called it in a slow moving train wreck, these bank announcements. nothing with the speed and sweeping nature of the bank failures during the meltdown but almost one every day. a lot of these issues are coming back today but again it gyrates wildly. what do you make of where we are with the whole banking thing first, lou? >> i think the first shocks are always the most jarring ones. biggest bank, silicon valley bank had most exposure, very niche. we're seeing knock on effects where deposits are moving.

the next potential risk is in the real estate market. regionals have a lot of exposure there. if we look at size of assets, these regional banks i don't think will carry the rest of the market down. they don't have enough weight. flip the tech, apple or microsoft disappoints that is a huge weight -- neil: people like charlie monger are concerned about that, elon musk are concerned about the commercial market all that. even the biggest, most pristine banks have a lot of exposure to that. their very buildings are exposure. should we be worried? >> i would say for the large banks, the big diversified, even though have a lot of exposure to commercial, their ratios are nothing like what we saw in 2007, much in stronger writings off debt and ratios. it could take a hit. this is something we talk about for several months. i don't think it will go away immediately but so far we've

been pretty good at handling one crisis, dealing with it, letting it roll out over the next two or three weeks, handling the next crisis. just the fact that the ratios in general for most of the larger banks are very good, much stronger than we've ever seen before. have a lot of cushion being able to go deal bad debt. that is not an area i want to invest in. neil: it feeds off itself a friend of mine who is quite wealthy, not your wealthy, in all seriousness he has been happy at the mid-sized regional bank, well-known name, don't want to besmirch. he wants to pull his money out, while he has had no problems i think i should be at a big money center bank. i wonder extrapolating that how many more on the mind set this feeds on itself? >> absolutely. this we'll see over next several months t will take a while for

people to move assets. this problem is really about moving your cash from one bank to another. it is not about it completely disappearing. so i think investors as they shift as they diversify, say okay, 1/3 of my money here, 1/3 of my money here, that will take until the end of the year where we really see that complete settling of, okay, i'm comfortable, i'm stable with where my assets are. maybe i move it to deutsche bank. maybe i move it outside of the u.s. that is just an area i would not be investing in because i think there is so much uncertainty. it will take a while for people to get comfortable where their assets are. >> a lot more volatility in the banking sector. commercial real estate side, look for strong push to return to work, to return to the office. not that people think covid is over. they need occupancy rates to be higher to preserve commercial real estate loans. neil: people are fighting it. >> i'm seeing some of my contacts in the commercial real

estate industry, that was the main topic, get everyone back in the office, whatever it takes. neil: i'm a hologram. don't wander too far, guys, i want to pick your fine brains later to goat read on oil, copapersing for example. meantime i want to bring in michael bennet, colorado democratic senator, sits on senate finance committee, intelligence committee, all the key committees. always kind enough to join us. senator, good seeing you. >> thank you, neil. neil: we talk about what the federal reserve will do later on today. the consensus, senator, they will hike rates a quarter point. maybe sit back a while. not everyone buys that but you're dealing with this debt mess along with your other 99 colleagues and it's crazy, those borrowing costs keep going up to make it more expensive, what do you think? >> thank you very much for having me, neil. i guess what i would say it is interesting for me to hear tom hoenig come back from where he

was. his position famously was the fed was overextended over the 12 months before we got into this position. that their quantitative easing was broader than it should have been. that we had zero rates much longer than we should have had. i actually tend to agree with that. now we're seeing the fed try to claw its way back. i hope we're not saying god, we're sorry that we're seeing you know, so many more americans being employed. we're seeing some wages finally start to rise in our economy. so let's not do any damage. i understand why they're going to do what they're going to do today. in terms of the debt ceiling i can't think of anything stupider than driving up interest rate costs for the american people at a moment where they're already dealing with inflation. at a moment where they're already dealing with the kind of economic uncertainties that for them is not about whether or not they have their equities in, you know the largest banks or

deutsche bank but it's question, you know, will they have a job next week and month after that, month after that? than they afford to buy essential stuff like child care and like food? making their loans more expensive by ripping through the debt ceiling doesn't make any sense to me. neil: speaking of that debt ceiling, senator, i know there is a move in the house i guess for democrats to vote on their own package, try to get this settled. i don't know where that stands or whether you agree with the approach they're taking but right now we're told june first is sort of like the make-or-break moment by which time this has to be settled. what do you think? >> i think we don't know anymore whether the june 1st is the date or fed raising the rate a quarter point is the right thing. everyone around this place becomes an economist every time the fed is making a decision. they don't know any better than the economists, the actual economists that you have on your

show who don't know either. my view is, why do damage? why take risk? neil: yeah. >> this debt ceiling is about debts that have already been incurred. not about debt the coming. you and i have had the debate before substantively. i wouldn't want to be in mccarthy's position, for a lot of reasons i wouldn't want to be in his position. for a ton of reasons i wouldn't want to be in his position. one reason i would not want to be in his position, his position is he wants to extend the trump tax cuts, 50% go to the top 5% of the american people. he is prepared to get to that point to do it by throwing a million people that have meals on wheels off their meals on wheels. it makes no sense from a political point of view, it makes no sense. from an economic point of view, it is a disaster. what the american people i think have said is, we don't want chaos. we don't want chaos. neil: chaos is what we potentially could have, right?

i understand what you're saying about this. republicans are coming back to say we've always found a way to get through these humps by dealing with make spending issues, maybe not in immediately. not an immediate quid pro quo case of barack obama, certainly 2011 comes to mind, agreeing to raise the debt ceiling. setting a budgetary framework to address these things. i'm wondering is that the way this will ultimately be handled? >> i mope, i hope that it is handled in a way that does as little damage as possible, neil. let's go back to 2011. i voted against that disgraceful deal that joe biden and mitch mcconnell cut that you're talking about in part because it blew a massive hole in our budget deficit. that is not what fox was saying. that is not what democrats or republicans were saying here but that was the facts of a deal that extended the bush tax cuts permanently, didn't pay for it

and didn't address spending issues. neil: we didn't pay for all the spending either, right? whether tax cuts or spending. the fact of the matter is trillions go up under one president regardless of his or her party. i'm asking is, when this, whatever you hope we avoid default, all of that. and cooler heads prevail to your point, senator, but if that does not happen, and we hit a brink, are you worried that all of sudden all bets are off? we could have a freefall of the markets, economy, you name it? >> sure. that would be terrible. that would be disgraceful. that would be, that would be appalling that america's political leadership would allow us to get to that point. that is why i think we won't get to that point unless the people in mccarthy's caucus that are the most, the fartherrest out there, the ones that is you know, you know, least, i guess interest in the future of the american people and our children

and our childrens children are willing to detonate this bomb own the american people at a moment when putin is in ukraine and that chinese are doing what the chinese are doing day after day after day. but i don't want you to dismiss what i was saying earlier. there is not an equivalence sy between spending that you're talking about and the revenue cuts in that deal that was struck in 2011 where the trump tax cuts that were so strongly supported by this network that wasn't paid for, that have put to collectively, have put our backs against the wall. neil: senator, i got to tell you, you know, i don't pay to either party or any statement announcements concerning either party's tax to deal with whatever is going on in washington. i look at it as more money going than is coming in. we had a chasm of a trillion dollars or more each year where the phenomenon continues under

democrats and republicans. do you think there is any hope that gap will ever be closed? >> i do, i do. i take your point. i will just make one other point which is that the growth in our deficit, the over the years that are relevant to this question here. roughly, more than 50% of that has been the tax cuts. then there was one time spending that you know was regrettable we all had to do. neil: that is not accurate. senator. >> i can send you the slides after we're done. after we're done. neil: bottom line more money coming out than going in. that is the point. let me ask you this, do you think that the way we go about this has to change? only ourselves and denmark have the system where we peg the debt and keeping it extended the way we do? >> yeah. i think that we have to get rid of the debt ceiling issue because i think it is a loaded

revolver that doesn't do anybody any good. i think that between the time that i, i'm standing here today, when i expire, we have to reach an agreement that leaves our kids in a position where their choices are not constrained because of our failure to deal with the fiscal condition of this country which we have to do. and, i would say, neil, finally, we still have to have the ability to borrow to invest in america and build worthy projects like the infrastructure stuff that we're doing right now. like the r&d we need to compete with china. what we don't need to do is borrow money to give the wealthiest people in america more tax cuts, when we have the worst income inequality since the 1920s. i realize you're not a republican, i realize that. my point i represent a state a third republican, third democratic, third unaffiliated

they agree what i'm saying. don't borrow money to make income inequality first. if you borrow do it to invest in the american people. invest in our infrastructure and our country. neil: immediate needs, you say, senator, all about getting this resolved, sooner rather than later. watch it very closely. >> thanks for having me. neil: always good having you on. thank you very much fair and balanced we'll hear republican tennessee senator big hag getterty. we'll be talking to him. talking about what happens at the border days away title 42 going away. a mayor who worries what happens not already then but what is going on right now.

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>> i think they're going to lose a lot of tourism because people are afraid to come here. >> it is very sad. you don't feel safe. someone stealing something from me when i rather go shopping or being attacked by someone? neil: who wants to shop for anything if you're afraid of everything going on around where the stores that you're shopping are at? it is happening right now in the san francisco area. nordstrom the latest to say, we're cutting bait here. we're leaving here. we have lydia hu with the latest.

lydia? report or the that's right, neil. nordstrom is closing two of its stores in downtown san francisco. the chief of the store, jamie nordstrom tell employees in an email, the dynamics of the downtown san francisco market have changed dramatically over last couple years affecting customer foot traffic to our stores and our ability to operate successfully. the mall's owner, it told san francisco chronicle in a statement, the closure quote underscores the deteriorating in downtown san francisco and growing number of retailers and businesses are leaving the area due to the unsafe conditions for customers, retailers and employees. now nordstrom is the third business to announce plans to leave the union square area just this week. it follows anthropology and off saks fifth avenue. nordstrom is the 20th business planning to leave the area since 2020 according to reports. now the business's closure is

adding to concerns about san francisco's trajectory, crime soaring, residents leaving, workers remaining remote. office vacancy rates, neil, they're at record highs, near 30% according to tracking from cbre. all of this forecasting diminished tax revenue. some local officials are talking about solutions. they say a solution here, hiring more police. right now san francisco has 340 fewer officers than it did in 2019. it is about 540 people below recommended staffing levels for the police department there in san francisco. that is according to the mayor's office, neil. neil: not a good prescription for dealing with all of this. thank you very much, lydia hu. meantime following what is going on at the border between ourselves and the mexico where title 42 formally goes away next week. but to hear the mayor of laredo, texas, tells it, surge is on as we speak. not what you might think.

dr. victor trevino here. mayor, how are things looking there? >> thank you. i did sign a declaration of disaster on 4/30/23. the reason i signed this, the city of laredo does not have the financial resources helping these migrants that are crossing over. as a doctor i'm acting proactively to prevent us from being overwhelmed. at this time it will be too late with migrants in our streets, no resources to get them home. we don't have the border crossing like other cities. we don't have the overwhelmingly crossing here in laredo, but we're a referral center for all the other area, border cities to process all migrants here. this is the thing that we're worried about. we just don't have the resources to have all that, to do all of that. neil: not just those who are surging through the border. those who are processed end up getting processed in your town,

in your square, as we look at brownsville, texas, again dealing with this migrant situation, that is picking up considerable steam, that is only going to get worse for you, right? >> yes. thank god we're not seeing a buildup across our border like past the rio grande valley and brownsville. we're seeing transferring, transferring location, we've already been told these migrants will be sent here to decompress the other communities. we don't have the resources. as we have information, there is about at least 40,000 people waiting to cross when title 42 expires. so that is very concerning. neil: mayor, finally, get your thoughts on these 1500 troops the president wants to send to the border. we don't know how long, minimum of 30 days. we know they're not going to be ajudicating anything. they will be there. mexicans protested fact they are going to be there. are you worried? >> no actual they're not having

any arms or anything. so it is help but i think the most important thing do immigration reform, get availability of funds for our city to help with the situation that we have here. and, border security is very important. border trade is very important. we're the largest port of the united states and we been deemed the largest land port. now we're the largest port and it would be concerning all cpb officers, customs officers are placed to handle migrants, that could impact the commerce that comes in from mexico. 40% of all the commerce from comes in the country comes in through laredo. this would be very concerning and billions of dollars will be lost there. neil: we wish you well, mayor. we know you have a lot of work on your hands there. obviously with some apprehensions continuing. we're showing you brownsville, texas where they were trying to

rescue people from the water. the rio grande has been filled with migrants of course who have been trying to get to this country. many of them have had devil of a time getting here. many died getting here. they're worried obviously this builds as the surge buildings ahead of title 42 going away. we'll keep you posted on that. keep you posted on collapsing oil prices right now. what does that say about the global economy? two words. not much. i can't, you know, ty parents enough for making sure that this connection is here. one of the things that my mother told me when she was in the hospital, she didn't tell me, actually, she couldn't speak at the time, but she wrote it down... "go see alicia." oh, my goodness. you know, and there was never a time that you were too busy. there was never a time you said i'll call you back, you know. i needed to be there to carry you through, just like, you know, some of my friends carried me through.

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they do. lou, to you what is driving this? >> we're going to all electric vehicles by january 2024. we don't need oil. forget about it. don't worry about pulling it out of the ground, permitting doesn't matter. simplest answer applies. reflection what people think will happen in the global economy now. fed hikes again. hike twice. will blunt demand globally. neil: all banks are doing it. australia stunned people doing that today. is that it? >> i think it is not just the u.s. demand. i think when we look at crude prices that is about global demand. i think we're looking slowing from europe. slowing from china. those are the bigger, like big drivers as well, what we're using for crude oil. i think other regions are also having a big impact on that. i think we're looking at global slow down. this is what is being indicated. neil: what is weird about it, guys. you follow this so well. normally you get news like reports of an attempted

assassination of vladmir putin, whether it is true or not, these drones that hit the kremlin. that would be good for couple bucks in oil, right? nothing. nothing. why? >> yeah. i think, they're really isn't a specific headline on this one. it is interesting to see where people are coming from, this either telling -- neil: growing consensus about a slowdown. >> yeah. either something hasn't hit the headlines, really negative news coming out of either china or europe. those are two main areas that could have impact. we certainly know with the u.s. figures while we're expecting a slow down, that. of a drop seems a bit surprising. >> i think it takes a lot more to shock investors. we've been through so many different, unexpected from the banking collapse, silicon valley, ukrainian, russian inization of ukraine. i think we weathered that. we gotten into the stage of most disrespected bull market we're in. neil: it's bull market.

crowded restaurants. crowded streets. i'm not trying to be pollyannish about it. i understand all the fears, a lot of people say oh, no, jimmy carter years all over again. i lived this that, leisure suits and all. >> i want to see photos. neil: you don't want to see photos. i'm locking that up. my point it is not like that. it is not like that at all. >> it used to be there was no other alternative, right? when interest rates down at zero, 1%. now it is. treasurys yielding at 5%. you have alternative. equities need to return more to do well, still epinvestors are not flummoxed by anything that hits the headlines. there is just persistent wall of worry we keep climbing which you know, i would rather be a bull than a bear most days. neil: yeah. how do you play it? >> i certainly think you have to go run with it while it is there as long as we have this positive sentiment, you don't want to miss out but i do like to position portfolios this is some defense. i'm a big investor on having

free cash flows in case there is a credit crunch, any type of recession. you've got companies still weather that storm. neil: all right. >> i think having some sort of a defensive play within your, you know, realm of investments is healthy way to go. nonetheless, there is uncertainty out there. i would not say go in all in growth. we're fine out of clearing. i would be a little weary. neil: balanced among the both of you. i appreciate it guys, busy schedule the both of you. i do want to see a leisure suit. you're too young. you never know. >> always comes up. i wear it for you. neil: just jealous. guys, thank you very much. we did have a democratic senator on fair and balanced. we always aim for that on the show. no republican without a democrat. no bull without a bear. we have the republican senator bill hagerty joining us. what he makes of the debt ceiling impasse, how bad it could get, what we should be planning on, worrying over, after this.

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1-800-763-2763. that's 1-800-763-2763. neil: i don't know what it is about banking sites, sybil, one day extremes, very source the next. regional ones under enormous pressure yesterday, some falling 20, 30% or more coming back. maybe nothing to worry about. probably is a bit premature. bill hagerty, tennessee republican senator, sifts on foreign relations committee, appropriations committee, senate banking, looking into the whole phenomenon with banks, where they stand. senator, always great seeing you. a bit of a reprieve for a lot of banks when it comes to the market, how they're being treated today. i learned not to you know, say that gains traction here because always a little surprise that comes. what do you think? >> well i, i'm with you, neil.

i lived through the leisure suit era like you did. neil: i want to see that senator. >> i don't want to see it come back. neil: i hear you. >> absolutely. but i do think that we need to be quite careful right now in terms of the environment that we're in. this afternoon at 2:00 we're expected to hear from the fed. likely another quarter point interest rate raise there. we've already seen what's happened in terms of the marketplace with banks not done an adequate job much managing interest rate exposure. i hope we're at the end of this. we've seen significant disruptions, a lot of variability introduced into the marketplace i don't think is deserved. neil: senator, what do you think of the folks, regaling my guests. they were not regaled but hearing me out on a friend leaving a bank with whom he had a very long-term relationship, never a problem at the bank, figure it is a regional, small, medium-sized bank, maybe he should be at bank of america, city group, something like that.

nothing has gone wrong, but he doesn't want to take chances. doesn't that feed on this? >> i think that is a real concern, neil. i've spoken with members of the banking sector at every level. i think larger too big to fail banks have been instructed not to be preying on regional banks. ones in my state, very well-run but they're fighting hard to retain their clients right now. they will get pressure from loan officers from these larger banks. it is inevitable that it will happen. i think local touch, their service levels, the fact they know the markets is a real competitive advantage. that will continue. there is real pressure you cited there. we need to be cognizant of it. neil: if i could switch to the debt ceiling where things stand. this will be a separate house vote among democrats, i understand, senator, to raise this now and end the kabuki theater. it is not expected to go anywhere. where do you see it going? >> house republicans already

passed a bill. what we need to do is focus on this bill. we need to bring it to the senate floor to begin to address it, amend it if necessary, but begin to address -- neil: chuck schumer said that is not happening. it is dead on arrival. >> i hope they will get a little dose of reality here. if we don't begin to do this the markets will do it for us. if we don't address the out of control spending markets will do it for us. you know, neil, it will not be pretty if we let it get to that stage. neil: that is a very good point. you're good at history. that happened with the troubled asset relief program, when congress voted that down back in fall of 2008, the dow fell almost 800 points. that give the nerve back, go back to revisit the tarp thing, guest it approved. irony, as you know, senator, month later we were thousands of points lower anyway. you are right it takes something like that to get action. i don't know if that is such a healthy sign? >> it is not but i tell you the

way things work here in washington, we've seen it with the banking failures. a whole group of people here like to leverage any crisis to accomplish whatever their policy objectives may be. i hate to see cause careening toward a crisis. we've been given a date in june. i hope we turn our attention to it as soon as possible. neil: thank you, senator. i make a deal with you. if things get back we get back to the jimmy carter leisure suit era, i bring my photos in if you bring your photos in. >> you've got a deal, neil. neil: senator bill hag getter. from the great state of tennessee. jackie deangelis giving us what is coming up in 14 minutes on their fine show. >> countdown to the big fed decision. that will be released at 2:00 p.m. eastern time. will jerome powell hike interest

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♪. neil: you know what i love about a lot of small businesses? they see things a lot of big businesses never do. big businesses try to take advantage of later. this one, you might call airbnb for rvs, book staying on a farm, winery, all of sudden you have a burgeoning industry. joe holland is behind it. harvest host ceo. he will tell us a little bit about it. that sounds pretty cool. explain how it works? >> thanks, neil. harvest hosts is membership club for rv-ers. our members are able to stay at 4,000 wineries, breweries, distilleries, golf courses, farms, other unique small businesses over america. they get a really nice experience. more importantly they support

the small businesses they visit that turns into really meaningful revenue for these businesses. neil: we're showing footage, there is no one around them. in the case of the winery. if you go to rv parks and the rest they're all lined up like soldiers. it is fine. it is an rv, a cool experience. is part of the draw here, they're not lined up like that? you can spread out? >> that is absolutely right. so this year 67 million americans are projected to go rving and, that is a lot of people on the roads. campgrounds are crowded, national parks are crowded. people are looking for ways to get solitude. in my opinion there is nothing better than staying at a winery parked among the vines where you can taste, and go back and not drive anywhere. i feel like we're sporting supporting a pretty niche, nice way to stay while supporting a good cause. neil: are you linking up with the winery in this case?

do you have an arrangement with them, x number of rvs can show up, how does it work? >> that is exactly right. we allow the winery, or any small businesses to join the program as long as they have a safe hopefully scenic place for an rv to spend the night. there is never any charge to be in the program. our members this year will spend over $50 million, directly with the 4,000 businesses in our program. we don't take any of that. so for the business it is extra revenue. it's way to share their lifestyle. obviously for the rv members it is really pleasant experience. neil: yeah. i mean, i'm not a winery in an rv, only trouble driving home the next day. that is something you can address as well. >> -- same day. neil: there we go, joel who hand, harvest host ceo. taking again something a lot of businesses miss, particularly big businesses, not small businesses. all right, right now we're up 24 points on the dow.

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>> adam: they say. 20 they say consensus is a risky word but consensus is we are an hour from seeing may be the last rate hike of the cycle, the year, quarter point hike at that. to a range between 5%, 5.4%. to scott martin, whether he buys it or not, what do you think? >> 25 in the basket. if you want to talk jay powell speak and he wants to make a statement, listen to me right here. don't do anything, don't do anything. check out a couple data points, let the market do the work because it is.

rates are plumbing getting -- plummeting. the fed is taking hints from the market. hopefully just taking a pause here. of that would be incredible and make a nice statement. neil: you are the expert, there is a trade on any time jerome powell goes to speak. even if you go back in time and get his fomc minutes, six weeks after the fact, whatever rally we have is quashed and whatever goodwill or happy thoughts are out there, he clarifies what was just done. do you think that will happen today? >> you are referencing times i speak at the luncheons and dinners and everyone ask excited to be happy to be there and then i speak and who is this guy? whatever this move is that we see that preempts these fed

meetings, it just reverses course of the next day. it is one of those things where the market is noisy, a lot of expectation when in reality the right thing to do is to back away, let things chill out, take a break, and the follow-ups and expectations powell will talk about. neil: if he doesn't signal the things you are worried about what then? >> markets as you got this wrong, tell them the market is telling you you got to back away and let things work and let the rate hikes go through the system. neil: it would be 10 after today. we will watch it closely. thank you very much. i want to go to jackie deangelis. to see how it affects the debt ceiling and all that, that is a subject further show.