thank you so much, cheryl cathy for speaking to us from tunis. thank you. chinese southern coast, being battered by gales and heavy rains, brought on by tropical storm. szabo or tornadoes swept through a village and rung going. providence destroyed a factory and knocked out electricity to the area. heavy rainfall is also called flooding and other parts of the region. now, thousands of people have an order to leave their homes in the australian city of sydney because a flooding. torrential, rain and damaging winds have been pounding the east coast. barbara and gulf, our reports. a suburb underwater, part of the australian city of sydney, inundated amid warnings that could be, was to come. we are now facing dangerous on multiple fronts, flash flooding, river rain, flooding, and coastal erosion in just one day. the sydney area experienced 4 times the amount of rain it normally receives during the whole month of july. sports fields have turned into lakes and forecasts as expect heavy rainfall to intensify. over the coming days. these ease a life thre

cheryl: no, i don't. >> this is exactly the problem, when stocks go on sale, and they're good stocks, good stocks, jpmorgan, not talking about cathiewe're talking about jpmorgan. when you think things go on sale for me, for any long-term investor like the banking industry, i think in a rising rate environment, banks end up doing well. i think this is a great opportunity. cheryl: banks usually make a little more money when interest rates are higher. dick bove doesn't quite agree with me on that. he used. fed funds futures after the cpi report yesterday they're pricing in a 85% chance of a full point rate hike this month. >> yeah. cheryl: do you have faith in the fed they can fix this? >> well, listen, i honestly think i'm in the larry kudlow camp. i think they should have raised by 100 basis points two months ago. i think they missed the opportunity. that puts them behind the eight ball after yesterday's ppi report, clearly inflation is not responding yet. i think they have to get more aggressive, 100 basis points in two weeks. now fed fund futures getting 75 in september. potentially talk may be intermeeting hike in august, right?