>> yes. >> [applause] >> all right stuart: 42. you do look pretty good for 42. >> i'm 42. lauren: as am i. [laughter] >> three 42-year-olds right here. stuart: i didn't ask. >> answer to all of the questions in the universe. stuart: [laughter] 42. i want to thank mr. tepper for being with us for the hour good stuff, michael, a fine performance, you're not careful you'll be back. lauren you're always here. good stuff. now, times almost up for me. we have to end this at 11:59:58 so i've got five seconds left here we go. "coast to coast" starts, wait for it wait for it wait for it wait for it, starts now! neil: all right thank you, stuart pushing the pause in two hours most investors are betting the federal reserve stops raising interest rates, but just at this meeting. what about next months meeting? former td ameritrade chairman joe mogley is here to layout what's coming up and the

director of the congressional budget office even if rates don't rise our debt is and phillip swagel says congress shouldn't pause in that , it better move and soon. welcome, i'm neil cavuto and first steve forbes on what's at stake in a little over two hours from you. steve great to see see you. what are we looking at? >> we're looking at the markets already priced it in. the federal reserve is going to pause but will leave open the opportunity to raise rates later, which gets to the fact the federal reserve still thinks the best way to fight inflation is hurting the economy. already now as we know inflation is about half of what it was a year ago but they see sticky times ahead. the way they concoct all these indexes with core and super core indexes. neil: all are trending down from what they were and to your point both retail wholesale level running at about half in the increases we were seeing a year ago so the administration no doubt jerome powell will argue the trend is our friend and this pause gives them time

to gather more ammunition. what do you think? >> well i think the federal reserve is going to probably not raise rates but not cut rates any time soon, and already, things are already underway that are going to hurt the economy. banks have been effectively told by regulators cut back on lending so credits going to be there. they are going to be companies that are going to go under that are going to be a surprise because they gotta customed to a generation of zero interest rates. we all know the commercial real estate market some parts are good but some parts are in deep, deep trouble. neil: tightening in this environment like that even if not in this meeting but future meetings, that would complicate things, so that's another reason for them maybe to hold fire for a while, and maybe what do you think of that? >> well recognize we're like a big freighter and you can turn the wheel so to speak, but it takes time for the economy to respond. the economy is already in trouble, so don't pile on the trouble. in fact what they should be looking at is how do they get the financial system liquid

again. how about cutting back interest rates and what they pay on bank reserves? so banks have more incentive to go out and lend in the marketplace, and basic things like that, so they should be looking, how do we get the economy back on track because the way you fight inflation is you stabilize the value of the dollar. you look at commodities and go dollars been pretty stable recently. so leave it alone. let the economy heal, and also behind the scenes, tell the administration, stop waging war on every productive sector of the economy whether it lawn mower makers, air conditioners and the like, the whole thing on ev's, two-thirds by 2032 give me a break. neil: all right, so i'm going to put you down as a maybe on joe biden but let me get your sense of -- >> he won't be the nominee next year. neil: yeah, you were mentioning that why are you so convinced of that? >> one his capacity is becoming more and more of an issue. two -- neil: so is mine but i'm still here. >> you're light years ahead of

all of us. neil: that's a lot of talk. >> that's going to become more and more -- neil: what about donald trump? >> donald trump i think even though he's the front runner now will have some real contest early next year, especially after the first few debates, so i think that's up in the air, and in terms of the democrats, i think joe biden has got the capacity problem. he's got the family problem which is coming to the floor now there's no way they can keep tamping that down again and a sluggish economy. people don't believe the economy is in good shape and whose the capital an of the ship? neil: well we're not in a recession. doesn't look like we're headed toward one for the time being. >> people don't feel they are really moving ahead and their wages are rising the way they should and with the turbulence coming, yes. we won't have pneumonia but a version of walking pneumonia, not pleasant but i don't know what the economic theologians will call it but the instability the fed put out there and the harm they have done we'll have tough times and that's not going to go down well to the democrats saying

happy days with here again. even around three years where are they? neil: yeah, we have the former head of ameritrade joe mogley joining us a little later, steve, but the one question i have in general and i ask this of a lot of guests whether they come from politics or economics or the markets. what do you make of a market today, notwithstanding, but even that's not a true statement because technology stocks are continuing to advance, nasdaq, s&p. there is this incredible wall of worry and one of the most picked on, bashed on bull markets we've seen, in quite some time, what do you make of it? >> well you can have inflation around and you still can have a market that does fairly well, at least in nominal terms, and already now you're seeing concerns about the breadth of the market and things like that, so i'm delighted that people are weary about the market, but i do worry about the state of the economy, and i'm not sure the markets are fully priced in. maybe they are looking to after 2024 we're going to get a big change like we did in 1980 pro-

growth policies instead of the anti-growth policies that are in fashion in washington. neil: gotcha. steve always good seeing you my friend. >> good to see you neil. neil: steve forbes, frances newton stacy is with us, director of strategy. we've also got scott martin with us, the kings view asset management cio. francis? if i could get your take on a couple of things steve just mentioned, that the federal reserve might be between a rock and hard place whatever it's pausing and doing now, it might hike down the road but it's actually making things worse. whatever it does, and in this battle to fight inflation, has put us in a precarious position. what do you think of that? >> well, steves argument fact that all of the tightening they have done so far hasn't really worked its way through the market and he is very right about the fact that we have a lot of problems ahead in commercial real estate, and about 50%, over 50% of the $3 trillion in commercial real estate is coming up for refinancing in the next couple of months, so if you're

jay powell and you know that, if i know that, he knows that, you know, you might not want to just edge these rates higher right in front of that refinancing because you don't know where the threshold is where you push that over the edge. if we make it through these next couple months, without a massive wave of defaults and commercial real estate that look like what happened with the mall in san francisco, further across the country, then okay, great. maybe he will start hiking again because he wasn't broken anything, but if that breaks, then he'll be ready with his bailout. neil: you know, i'll flip it around and take the contrarian view here, scott, that maybe everything he's doing is working out just fine. if he pauses today in a couple hours we'll know for sure. he's watching to see what happens. we know inflation of the retail and wholesale level is running about half what it was a year ago. we're a long way from the 2% target i guess the fed has been focused on. we're a lot closer to it as well and job growth is still

pretty darn respectable as are most, not all, corporate earnings. what do you say? >> it's going okay, neil. the fed has gotten lucky with this a.i. boom and the rallies we've seen in tech stocks because of the chase on there, but look. the reality is the fed is not done yet as francis pointed out so that's what's scarier. even if they pause for say one or two months what do they do afterwards in the face of say a weak economy as steve forbes pointed out so that's really the concern for me. the troubles at the banks notwithstanding but just the fact too, neil. we've got 10 interest rate hikes in the books here and they have not stopped once over the course of that interest rate hiking cycle so they need to take a step back and let things permeate and see what the market does when they stop and let interest rates kind of normalize neil: you know, guys, one of the things that amazes me and scott, it does sort of dovetail to what you just said, the technology thing. the a.i. thing, and this notion that that is what sort of, you know, rebooted interest in technology stocks. it seemed limited seven or

eight major players. i do notice that breadth is expanding to a number of small cap issues not just technology. what do you make of that? >> it's probably just the craze that's on, it's the chase, neil. what'll happen is typically as we saw say in the late 90s early 2000s, you'll see a few players really win and win big and some of the smaller players phase out, so the way we're playing this is with the big guys playing it with google, apple, microsoft and other firms because of the fact that they have the money to buy some of the smaller guys. they have the money to really ramp up the technology and they have the experience to do so as they have done with other products in their belt. neil: by the way, we temporarily lost, i hope temporarily, francis because of satellite connection. hopefully we'll get her back, but i do want to pursue united health as sort of debbie downer in the dow today. now united health is dragging the dow lower because it outlin ed it's facing higher costs because of pent-up demand for surgeries. i'm never in a demand for surgery myself but i guess

if you were and the costs were up you'd be worried and now united healthcare is worried what do you make of that? >> yes according to them neil everybody is running out getting surgeries and whatever else they need to do to their bodies to get insurance to cover which is shocking but maybe the sign the recession is definitely not over and not coming and that covid is over maybe we're getting out there and getting bigger and better but the reality is this. the p &c space too, neil, property and casualty too has been rough over the last to you months as well tied to the banks with the trouble they had so if you look at the insurance space we don't own it right now but a pullback like this today and say that space would actually attract some of our dollars potentially if it bails out here neil: well if frances is back with us and i'm glad to hear that. i did want to pick your brain a little bit on what you tell investors now in this environment. you know, we always get these exciting little teasers that mortgage demand picked up, rates came down a little bit since that print though, mortgage rates have actually backed up a

little bit. that aside, what do you tell investors who look at this rally are amazed by the growing, still early but growing breadth of it. what do you tell them, they want in. what do you say? >> right, so the bull argument is that all of the problems that all of the lagging effects and all of the stuff that we're going to have to work through is priced into the market and the bearish argument is that the market hasn't priced in. how do you tell we're at a very key level on the nasdaq 100. the nasdaq 100 has to take out 15,000 which is where we were exactly in march of 2022. if it takes it out, we're off to the races and we don't see a credit event in the economy. if it doesn't take it out you could fail here and what viewers should be watching to know what direction we're headed in is they should be watching headlines about defaults because any kind of a credit event is going to undo this market very quickly, neil. neil: so what we saw with the regional or the smaller

banks, we're not out of the woods there or are you looking elsewhere? >> well we're not out of the woods, because we have 3 trillion in commercial real estate and no idea what percentage of that is going to default when these refinancings come due because they were paying 3.5-4.5% on interest on the old mortgage. they are paying 6.5-7.5% on the new mortgage and many of these office buildings particularly only have about a 40% capacity, so they have less rental income and higher debt service, and to steve's point. you can take the money out of the economy as the fed is doing particularly via the balance sheet but you can't take the debt out of the economy. so it's all about the debt service. neil: got it. all right, on that toe tapping happy note, frances, we shall leave but scott -- >> always the optimist. neil: that's fair. i want to thank you both, joe mo gley on this in just a second but in the meantime, here is why you could tell the

dynamics for donald trump are changing and not necessarily for the better. a lot of the people who are challenging him for the republican nomination are more than happy to say that what came out in these revelations with classified documents is pretty icky bad stuff. they didn't say icky or bad stuff. what they did say is it wasn't good. that's at least five candidates now, and counting. what it means after this.

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>> i am the only one that can save this nation, because you know they're not coming after me they're coming after you and i just happened to be standing in their way and i will never be moving. >> [applause] >> on november 5, 2024, justice will be done. we will take back our country and we will make america great again! neil: all right that was only hours after the former president plead not guilty to some 37 charges concerning those classified documents. he raised more than $2 million in the effort here. sarah bedford, the washington examiner with us. sarah, what do you make of the take from just one event? >> well, you know, he raised $4 million after the manhattan indictment, so clearly, his

supporters are likely to rally to his side. he also got something of a little bit of a polling bump. we might see that happen again and i think prosecutors here are in a little bit of a boy who cried wolf situation, even if these charges are more serious than any of the legal peril trump has been in before. not just trump supporters but i think even a broader swath of the country, independents included, are sort of tuning it out at this point so it's a difficult case, i think, for his opponents to make that this case is disqualifying when there's so much evidence that prosecutors, the legal system, has gone after him before, for unsubstantiated things. neil: i believe even the wall street concurs with your overall sentiment but in an editorial today as i'm sure you're aware, it made the argument that the document indictment is indeed misguided, but he made it easy referring to the former president for his enemies as he always does and low and behold, we hear from those taking him on

for the republican presidential nomination at an increasing number are taking him on over what's been revealed in these indictments. nikki haley says that it's true it's incredibly reckless. tim scott serious case with serious implications. chris cristi, i don't think i can repeat what he's been saying but he's not happy. asa hutchinson also saying it confirms the fact that the former president should step out of the race. now that's a bit extreme and that's not going to happen, but that didn't happen after the alvin bragg indictments came down. it's happening now. what do you make of that? >> well, i think two things can be true and this is a sentiment i've heard from some of trump's own advisors that yes the justice department pretty clearly was targeting president trump. i mean, they took a lot more aggressive investigative steps against him then against any other figure who had been accused of mishandling classified information. nobody slapped wires on hillary clinton's aids and sent them into the office to try to find out why she really had the

server and at the same time, trump did in fact make it easy. he was pretty reckless with the handling of the classified information. it seems that he was boasting even about the fact that he had held on to sensitive documents, so for a rival to argue that this case, not russia, not the hush money payments, not the ukraine phone call, but this one, this time, is disqualifying i think is a really difficult case to make. ron desantis has handled in my view maybe the most strategically in continuing to defend trump, keeping good in the eyes of trump supporters, against what he's described as justice department overreach and really steering clear of making any judgments about the substance of the case before we see what the trump defense argument is going to look like. neil: yeah, because if you just recite some of these charges they are pretty awful but again maybe that comes up in a debate but we'll see how it irons out, sarah bedford, great to see you again. >> thank you. neil: in the meantime here

everyone is talking about a federal reserve pause in interest rates. trouble is, no one is talking about a pause in government spending. this debt deal sort of like band aid on a gaping spending wound. the guy that runs the congressional budget office says it's a gaping wound. ♪ (vo) while you may not be a pediatric surgeon volunteering your topiary talents at a children's hospital — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you give back. so you can live your life. that's life well planned.

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♪ (upbeat music) ♪ ( ♪ ) constant contact's advanced automation lets you send the right message at the right time, every time. ( ♪ ) constant contact. helping the small stand tall. neil: all right it's a tough job being the head of the congressional budget office the director they crunch all the numbers and i'm sure phillip swagel, when he saw us avoid what could have been a default and both sides agreed to keep the government lights on for another couple years he welcomed that but in the process we discovered a lot of the

agreement was built on federal spending, big entitle ments to medicare, medicaid, social security and whether we like it or not, phillip swagel says we at least have to start looking at it so the congressional budget office director, phillip swagel. director, always great having you. you raised that when last we chatted. you cited republicans and democrats alike who understood and argued that you could see why they were reluctant to touch these third rail but the third rail still is there. what do we do? >> neil that's right thanks for having me on again and that still is "the situation." the fiscal responsibility act that was enacted a few weeks ago , that has savings in it. it saves at least $1.5 trillion over the next 10 years. the fiscal challenge is still there. it's still large, and looming in front of us is the exhaustion of the social security trust fund in 2032 and so in terms of that like that's not over the horizon that's really within our view.

neil: so where are we going on this? there was some construer nation among conservatives in the house as you're aware, you don't like to get into the politics or are mad at the speaker for doing this and coming to this agreement that many of them did not like, a couple were even thought the speaker should go, vacate his seat as it were, that doesn't look like it's going to happen but only now are they going back to address some other initiatives including more tax cuts and the like. how do you feel about all that? >> i mean, we support the congress. so wherever the congress goes, we will support them and do the fiscal arithmetic but as you said at some point we have to address this challenge and it could be done, look it could be done on the revenue side if that's what congress wants and what the american people want it could be done on the spending side. the entitlements are driving the long term spending trajectory and so its got to be one of those too, and look, it's not up to me to tell congress when to take it on but at some

point before the social security trust fund is exhausted, its got to be addressed. neil: and when is that date again just so i know, i don't care if it's younger people than me but as long as i get in under the tent here. >> that's a challenge so it's in 2032 the revenues available will be about 25% less than the benefits that are scheduled, so we're not sure what will happen then but we won't have the legal authority to pay full benefits then. neil: you hope it doesn't come e come to political settlements that bury the hatchet to try to get something done. i harken back to ronald regan and tip o'neill what they carved out to add decades of proverbial shelf life to social security so it is possible. i just don't see it in the present environment. that could change, a crisis and looking and staring at one could make you change, but does it worry you that that's not going to happen? >> yeah, i mean, that's the danger is that we wait so long that it does get reflected

in markets. on the other hand, i look at the 10 year treasury is right around 3.8. look that's higher than it was a year or two ago, but that's not high relative to other countries it's not high relative to history so that says that market participants expect us to deal with this fiscal challenge. neil: good luck with that. it is still high when you talk about the cost of our debt because its double what we were paying on our debt. little more than what a year and a half ago when all this rate hike stuff started so the cost of what we owe is getting to be problematic. do you think there's any progress on the part of countries like china and iran and brazil and hope to come up with a rival currency, a rival basket of currencies to the dollar. that could push some action, because that's the kind of thing that credit rating agencies look at. >> you know, that's right and you're combining two key issues there. one is our rising net interest payments and so they have gone from less than $500 billion a

year ago, north probably north of 600 billion this year and set to triple over the next 10 years , so the rising interest rates as you've said means we're paying more in interest costs. on the other hand we're still the reserve currency and that's keeping those rates and payments lower. if those other countries were to get their act together, it doesn't look like it right now but is a danger that would have serious financial repercussions for us. neil: i know they are coming up with a solution to these debt ceiling nightmares we go through i think it's dems for the time being are trying to find a solution, i believe us and denmark are the only two countries that have something like this. do you give it any chance of success? do you want to see something like that? >> you know, our job at cbo is to support the congress so we'll do the analysis and it's really not for me to say change the law , get rid of the debt ceiling. it has its proponents and both sides used it in the past to spur fiscal policy changes that

they want, but as you said, it puts these risks in place and we avoided it this time but there would have been very serious negatives had we not. neil: phil i just want to catch you in a weak moment where you might say something stupid and it be all over the wires but i failed at that, but phillip swagel it's always good having you. thank you very much i mean that. >> thanks so much neil. neil: the director of the cbo, you need a serious guy in that posting. he is that. meanwhile very big news in washington nothing to do with the arguing back and fourth but with the stunning development. hillary vaughn is back. so glad to see you back, as every politician in america that i could think of. they see her down the hall like oh, my god she's back. welcome back. >> [laughter] thank you, neil. it is great to be back. neil: all right, now, when they saw you, some politicians saw you, we're already chasing a few down, what was their reaction? what's on their minds? what were you trying to get to

the bottom of as you always do. reporter: yes, listen we were trying to figure out if they were concerned at all about president biden's age as we head into 2024, and the reason why we were asking about it is because it is something on voters minds. president biden, right now, is the oldest president in u.s. history and a recent poll from quinnipiac shows that voter s are concerned about that. 65% of registered voters believe biden is too old to serve another four years if he were re-elected in 2024 but most democrats we talk to are down playing biden's age and playing up his athletic ability. >> not worried at all about him being able to complete his second term if he were re-elected. >> oh, no the man takes care of himself. he goes bike riding probably in better shape than me. i trust him. he'll be all right reporter: biden has taken a few public

tumbles as president, even while riding his bike putting his age and physical fitness on voters minds. biden had to miss work on monday to get a root canal, canceling his public events for the day, postponing a meeting with the nato secretary general, and vice president kamala harris had to fill in for him at an event with college athletes but despite biden's sick day and recent falls, some democrats don't want to be bothered alt all with questions about biden's age. >> do you think president biden 's age has finally caught up to him at all? >> absolutely not. i think the president is great. look, i'm proud to be supporting him and i don't even know why you asked that question. reporter: do you think he has the stamina to finish a second term? >> yes, i do and please don't bother me with such frivolity, okay? reporter: neil it's not democrat s grappling with an aging front runner in 2024. former president trump, if he were elected in 2024, by the end

of his term, be the oldest president in history tied with biden. neil? neil: well, please don't bother us with such frivolity. i just thought you'd got your act together when you got back but apparently the same old hillary vaughn senselessly chasing these people trying to do good. hillary, it's so good to see you back. reporter: thank you, neil. great to be back. neil: all right such frivolity. you can't make that up. can't make that up. all right, joe mogley is with us he's a very successful coach. good book "coach yourself to success" but looking at the world here saying you know? there is some things that maybe i have to kind of recoach investors on. he's here to do just that, after this. ♪

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neil: one of my favorite people in the financial world by many decades doing this , i know i don't look that old but trust me i'm that old but joe mogley if you think at what was done at td ameritrade democratizing people and not treating them like idiots paid off handsomely for him, a very very successful coach, joe mogley with us right now. >> hold it hold it you're talking about the last segment you talked about i've got to get under the wire on 2032 and now you're talking about i don't look that old. you got to worry about that a little bit. neil: no, no, i'm just looking after that myself so then we'll get social security and i say no , you are not but i am, but let me ask you a little bit about this environment we're in and people are between how to characterize this bull market or whatever you want to call it because its been the most trash

able market i've seen in quite sometime and maybe rightly so but there are a lot of people what do i do? should i jump in now, should i not? you had an interesting solution. >> well i think for many many years, the typical person that was trying to advice somebody else would say, you know, you really can't have a good asset allocation strategy because rates are so low. it doesn't make sense, so you got to be able to do it this way this way and this way and they go back to what your risk profile and how you handle it and how you do this. i think for the first time, in 15 years, in the last year or so, i think we are specifically supposed to do something with our portfolios. we create a bar bell, for those who may not be familiar with that that you have one set of securities on one side and a different set of securities on another side. neil: 50/50. >> you can get 5.5%-plus by having your money in three-month , six-month bills, no risk 5%. how many times we said what am i getting 5% on entire return for

the year? the other side if technology could be anything in equities or 50% in technology so now, you have zero risk here with 5%. the markets do well with half your money in technology. it should do very very well plus you get 5%. if the markets crack and we don't know what's going to happen if they crack, you only are at half your money in equities but still getting guaranteed 5% here. for the first time in a long time that's what we're supposed to be doing. neil: interesting but if it's like last year, right, joe, the technology part could fall 30, 40, 50%. you still got the 5%. but you've crashed that much if it were mimicking some of the more popular tech issues, and how they did last year. >> you could always have diverse equity portfolio. it could be the s&p 500 right? but last year, rates weren't at 5%. 15 months ago they were still around zero so you didn't have that opportunity and that's where a lot of questions come in but right now when i look at it and you want to have a simple, smart strategist approach to how you want to manage your money,

neil that's it. neil: interesting. let me get your take on the feds dilemma, we'll find out in a little over an hour 15 minutes or so that they pause, but they signal in pausing yeah, but we still could raise rates down the road so they kind of yank us here but what do you make of that? >> i think it confuses the typical individual investor and even though institutional investors won't acknowledge it confuses them too. neil: they want clarity. >> the world wants clarity. neil: what's clarity to you? >> first of all clarity for a leader is critical so if i were in charge, the first thing i want to do is make it very very clear that we're not where we want to be yet as far as inflation goes, so therefore, we're going to go ahead right now and we're going to raise 25 basis points. i want all the bad news out of the way. get it behind me. i don't want to pause now and say i may increase rates again later on. to me that makes -- neil: just rip the band aid off. >> i think it's crappy guidance

and leadership, and then, you also announce with that though at 2:30 you announce but if we continue to go the way we are, then next time, there's a pretty good chance we are going to pause, unless the data tells us something else. that's crystal clear and by the way i think it's a smarter strategy. neil: do you follow politics at all in this presidential race or donald trump and his fortunes, the republican leader. does that enter into your investment equation? it's still early. >> it doesn't enter into my investment equation because i talk about 50/50 is pretty solid simple way to go. one of the big, big things in my life that i feel really strongly about in terms of my personal life whether it was my business life on wall street or football , is leadership. leadership is very simply taking responsibility for yourself. you treat others with dignity and respect and recognize you're going to live with the consequences of your actions i have never found, we have never found our own country more divided than what we are today.

that's because a lack of leadership. one side hates the other side and if you come up with a good idea the other side wants to kill it. no individual group is taking responsibility for whatever issues they've got and to me, that's a very very significant issue. it's a leadership problem. not so much an investment problem but a leadership problem and it's true for our entire country. especially in an environment where i think the geopolitical tension is as serious as i've seen it, maybe since like the cuban missile crisis. so it's a lack of leadership that's troubling me and the dividedness within our country that's troubling me. neil: do you want to see a republican in the white house? >> i want to see the right person in the white house. i want to see somebody whose going to step up, take responsibility for themselves and treat others with dignity and respect. i'm not sure -- neil: then you wake up. >> then you wake up. so right now i don't know if that's what we've got now. neil: i want to get your sense of the banking industry here because an argument for the fed going slow, on raising rates

more, is banks, and that given the regional and small banks that are troubles that would widen. if rates still go up the big money center banks would also be affected and then we would have this back and forth in leadership potential changes and angst at places like goldman sachs and change of command pretty soon at morgan stanley. are you worried for the financial sector? >> well i am a little bit, yeah i think the first when you stick with the banks. the fdic still needs to step up and get a couple things done so do a better job with regard to their leadership because right now there's lack of clarity between what the chairman of the fed said a while and go and janet yellen said a while ago so we don't need that in our country, we need clarity. neil: the fdic need to make it limitless how much you insure. >> i don't know if i'd go limitless but by the way most of americas at 250,000. so this is not bothering the majority of our country, but if you've got some money i think you go 250,000 or 5 million with the 5 million you got to raise the insurance on that and

by the way if you go -- neil: but then the big money center banks are the ones paying for the guys providing that too. >> and they will somehow get that cost over to the consumer. so if you've got $3 trillion -- neil: it's not a free gift. >> it never is. if you're the business whether you're a bank, whether you're a drug store, if your prices go up , i'm sorry if your costs go up, you figure out a way to increase your prices somehow to be able to do that and if you have a trillion dollar balance sheet, it doesn't quite take a lot of, it doesn't take that much creativity to figure out how to increase things by 25 basis points. you've got your cost covered. by the way i think individuals should take some responsibility too, so whether or not 5 million is st. right number or not, if you want to go more than 5 million you go around, you don't have it over 5 million you go around to different banks or you have the right to be able to pay an insurance premium yourself, so i want to be covered x amount of dollars for each million dollars.

neil: people cover themselves for hurricanes, their insurance, beyond what it is the typical. >> yeah, so you've got the government stepping up, the bank stepping up and you've got individuals that have the money not being given total free gravy train. neil: you know there's always a wildcard they call a black swan event we didn't see coming that in retrospect we should have seen coming. you were talking about what's going on with china and where the world is. what keeps you up at night? >> i think what you just said. i think in terms of the geo political situation that we've had, i think that is just growing and getting more intense is the one that keeps me up at night. it used to be terrorism and now, we don't even reference terrorism. we just have all these issues going on and the time when we're not as united as we should be. i think if i'm looking at the markets or banking industry which is what we spent a lot of time talking about i am concerned on what may happen in commercial real estate. neil: finally, i know everything about you is coastal carolina.

university, head football coach, but i think you'd have to admit that this is clemson's year, don't you? >> i'm rooting for clemson. one of the guys on my team, his brother, his brother was a four year starter for clemson. neil: my son goes, a kid but you're widely respected in that field as well. joe moglia, thank you very much. start stating more often what's on your mind because it's hard to tell. >> clarity. neil: i like that. clarity. we need a lot more of that, my friend. taylor riggs is co-anchors, that's what makes the show great taylor, what do you have? taylor: we're trying to get clarity at 1:00 p.m., neil, to hike or not to hike is the big question. charles payne, larry kudlow going to be answering helping us answer that question as we can down to the big fed meeting. wall street itching for a pause. the main street is very much feeling the effects of the inflation, how does this federal reserve square those two competing forces. that conversation coming up at 1:00 but first more "coast to

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to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life. when i first started golo and taking release, my cravings, they went away. and i was so surprised. you feel that your body is working and functioning the way it should be and you feel energized. golo has improved my life in so many ways. i'm able to stand and actually make dinner. i'm able to clean my house. i'm able to do just simple tasks that a lot of people call simple, but when you're extremely heavy they're not so simple. golo is real and when you take release and follow the plan, it works. neil: all right, ev's are all the rage and you know there is a bit of a transition going on. last year at this time we're looking at about 4% of all vehicles were the electric variety now closer to 9%, still a long way to go, john bozella

following this the alliance for automotive innovation the president and ceo john what do you make of that that ev's might be gaining traction, still a long way to go , but what do you think? >> can you hear us, john? it's that pregnant pause that gets interesting here. we'll take a quick break here but just to illustrate this , the ev push is still relatively small but a couple of seminole events on the week with the fact that tesla now has sort of gotten the good housekeeping seal of approval as the standard for a lot of these batteries that go into these vehicles. gm will be using that. others are looking forward to agreements with tesla, with, you know, some sort of contraption that will allow your car to be powered up at some of these tesla charging stations. so people are taking note as are we, after this.

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excess of 40%, signed that evs are back or his editors lonely situation? they allies or automotive innovation, the president and ceo, can you hear me? >> i can, nice to be with you. neil: let me ask you a little bit about evs and where they are going, a lot of stars aligning for this technology. what do you think? >> no question, the auto industry is moving to an electric vehicle future, no question. 97 different models in the market place today, one hundred $15 billion of investment across the midwest and the south for battery component manufacturing and supply chain developments so a lot is happening. neil: all dressed up with no place to go, a lot of people look at these cars, they look at the range has improved on a single charge, the charging stations, not enough range improvement and not enough

charging stations to diving. how do you woo them in? >> no question, there are key uncertainties here and this is one of the challenges we have. the environment a protection agency is about to make a new rule that is going to require two of every three vehicle to be electric by 2032, so we could be moving too fast for the market. we could be moving so fast that we give china which has a 15 year advantage with regard to ev and ev supply chains more dominance? i think we have to be careful to have the pace for consumers and the developers of our supply chains and manufacturing. neil: more americans are going back to car showrooms. i don't know if that gains traction. what do you make of it? >> i agree with that. the market is strong, certainly the ev market is strong.

cars in general are selling. there is still a little bit of pent up demand from the pandemic and supply-chain challenges like semiconductors have been a little better managed. supply/demand equation seems much more in balance, definitely more inventory in dealer showrooms around the country. neil: to find the model you were looking for, couldn't find any model but that is changing. so good seeing you again. apologize for the problems, some ev dealers didn't want you getting that attention. we are down a hundred points, we are going to get the decision out of the federal reserve. let's see what the gang is looking at. taylor: are we done? neil: paused but not done. taylor: thank you. taylor: i'm taylor riggs. brian: i'm brian brenberg. jackie: and i'm jackie deangelis.