larry: thank you, gerri willis.teve forbes, forbes media editor-in-chief, steve moore, "moore money" on abc radio. steve moore, real hourly earnings, weekly average earnings continue to decline under mr. biden as gerri willis said, level of cpi has increased by nearly 20% since he was inaugurated. i want to note, the cpi for first four-month of the year running at 4 1/2% of annual rate. retail sales, core retail sales have fallen in three of the last four-month. i'm saying it looks to me like a weakening economy and still rising inflation problems. how do you see it? >> it is a weakening economy and i don't think people are going to be impressed, oh, may have been .2 of a percent better than what economists predicted. what they see interest rates are high. so the interest you pay on a mortgage, bad, on car loans, bad, credit cards, bad. people are taking out more dent and the fed has, this is so crazy, they have a thing called supercore inflation index they look at up four 1/2, 5%. so, yeah, enjoy it while you can w

thank you, gerri willis.erts and mike summers, president and ceo in the american institute and michael faulkender and former assistant treasury secretary and jackie deangeles, cohost of the big money show. jackie, i'm going to begin with you on the stock market. higher for longer. i think that's a key story here. >> the market's finally getting it; right, larry. you come on the show and we come on and talk about the data and there's no reason for the market to think it's going to get rate cuts this year. yet it's been very exuberant and congressmens from jamie dimon. larry: what's he say something >> we could see a hard landing after all and jerome powell didn't get this right and we'll be stuck in a state of stagflation. why the action is really important is because it separates ai out from the rest of the market is doing. ai is going to continue to move forward and we're in the very early innings of this and industries and going to necessarily make profits going for technology and sectors and retail and fro

gerri willis looking at it. buy stone scowled stick and dow hits a 40,000 milestone for the first time and s&p and nasdaq hitting all time free time and s&p down 11 and down 44 and they turned around a bit and good news and they beat on the top and bottom line and shares of wal-mart jumping 7% on the new 6.99 and dow closed for the first time over 40,000 and the move from 30,000 to 40,000 was led by goldman sachs, microsoft, united health and caterpillar, very diverse group and in addition to earnings, luke warm cpi inflation data released yesterday that stoked enthusiasm and stoking the trade and pricing a 68% chance of first rate cut in september. bond yields are lifting off six-week lows. larry, back to you. larry: great stuff, gerri, appreciate it as always. all right, folks, phony cbo inflation report that cover up for harmful effects of bidenomics joining me now talking about it is art laffer, great art laffer. former reagan economist and we welcome back texas congressman and budget chairman jodie arringto

here to tell us why is our great expert and friend gerri willis. gerri, what today?t all, right? lots of worries about interest rates. let's start with the broader market. all three major averages down of interest rate fears, besides nvidia blowout results. nasdaq off by 65. economic data including hot manufacturing results causing investors to see the federal reserve sit on its hands longer than expected. that's pushing out expectations for a rate cut to november. investors now see only a 52% chance of a first rate cut coming in september. the ai chipmaker nvidia surging 8% after posting stronger than expected fiscal first-quarter earnings, announcing a 10 for one stock split. the stock topping 1000 bucks a share for the very first time. the company raising its earnings outlook. treasury yields moving higher on the news, 10-year yield approaching 4.5%. as i send it back to you, goldman sachs ceo saying no rate cuts this year. back to you. larry: i think he is own target. thank you, gerri willis. we appreciate that as always. let's bring in our distinguished experts.

maria: gerri willis with the reality shake-up.t's a really fascinating conundrum that we're in because if people can't buy homes if they don't get insurance. most people need to get mortgages, and if you don't have home insurance, you can't get a mortgage. it's going to be interesting to see both how the industry deals with this, but what happens to the real estate prices especially in these markets that are, that are prone to hurricanes and natural disasters. maria: yeah. paul? >> well, obviously, insurance rates are going to affect this stuff, ask we had the rise in insurance in florida following the collapse of that high-rise near the beach, and that hit a lot of retirees very hard. i think that's why you're seeing some skewed numbers in florida. there are a lot of other things driving the housing market these days because it's become so disparate and localized. here in new york, new york city's prices are coming down sharply, and it's because of all of the obvious things, crime, quality of life, and yet places like long island

gerri willis e joins me now. what exactly are the students -- students learning in that class?bonds, they're learning how the u.s. stock market is the most powerful tool in the world for generating wealth. i'm here at p.s. mere intermediate school in brooklyn, and we're talking to the teacher of that school, ray end monday trance. -- raymond trance. first of all, you were in a a big four accounting agency for years. why did you change and become a teacher? >> i felt like i wasn't really making a difference in people's lives, so i sought a platform as an educator so i could teach kids and mold young minds to learn about investing. >> reporter: so you're using a stock market game to do that. tell us how that works. >> we play the success market game. in there students break out into groups. they have $100,000 in virtual money to buy stocks, bonds and mutual funds. in fact, every day the kids walk in -- >> reporter: oh, what's going on here. oh, yeah. >> i just bought 100 shares of amazon. >> reporter: all right. that's how that works, right in. >> absolutely. every day kids ring

fox news gerri willis shows us how the students are improving their ability to understand and make use of skills that could help make their financial future a lot brighter. >> welcome to is 281, in brooklyn, new york. i'm sending in a financial literacy class. the teacher here is raymond tran. raymond, good to see you. tell us how you teach these kids about financial literacy. >> so we use a system foundation, stock market game. each kid breaks them into groups. they have $100,000 in virtual money to trade stocks, mutual funds and bonds. in fact, every day when they walk in, they come up to check out their standings. they check to see if they're going up or down. what's going on? >> i just bought 100 shares of meta. >> so that's the way this works, right? >> absolutely. and so when you think about this is does this have more ramifications for the entire community other than just this classroom? >> for sure. >> our school is represented by over 40 countries in the world. now, as a first generation american, i was told to save, save, save. in fact, we really wanted to build wealth. you w

thanks, gerri willis. we appreciate it, as always.witching gears a little bit, the phony cbo inflation report is a cover-up from the harmful effects of bidenomics. joining me the talk about it is the great art laffer, former reagan economist, and we welcome back texas congressman and budget chairman jodey arrington. gentlemen, thank you ever so much. jodey arrington, so let me get this right. phil swagel, who's the cbo director -- now, the guy's a republican, okay? i don't know what he's doing. he's covering up the biden inflation by using 2019 as a base instead of 2021. so i did some numbers, just hear me out. i'll be through it in a second. the actual inflation rate under bide an yulized is 5.6% at an annual rate. under mr. trump's four years -- this is biden, three years and one quarter. under trump's entire administration, it was. -- 1.9, okay in 5.6 biden. the second point i'll make is the level of the cpi through april, 19.9, okay, percent. it's actually 19.866. i'm only doing that a because art laffer likes to do math and arith

gerri willis with us today. what to these earnings say about the consumer?e consumer is doing can well, but that that's not exactly true when you listen to the walmart executives. they're really goosing their sales by appealing to a higher-end consumer. but hopefully this bodes well for the rest of the reporting season by retailers. it was a strong quarter for the nation's biggest retaller, walmart -- retailer, leading the company to boost its annual forecast. share price up 6% as you said earlier. that really is good for a company that big. meanwhile, walmart dealing with consumers feel under pressure from inflation. listen to this. >> any consumer pocketbooks are still stretched. we see the effect of that in our business mix as they're spending more of their paychecks onion discretionary categories and less on general merchandise. >> reporter: executives noting that consumers are still value-conscious. walmart's cfo saying that, even so, the company beat on both its top and bottom lines reporting earnings of 60 cents a share and revenues of $1 is 61 billio

gerri willis has the story here. home prices and higher insurance costs? >> reporter: in some markets there is a connection. in places like florida where we've seen the prices spiral out of control for homeowners insurance, we're being told by movers that they're having deals fall out of bed at the last minute. so when you go back in that market to sell that home after that deal blows up, do you ask for more? no. do you ask for the same? no. you can ask for less. stuart: that's interesting. >> yeah. homeowner insurance costs spiking so much they may be contributing to lower home prices in about half the nation's markets. across the country the average annual rate increased by almost 20% between 2021 and 2023. but it's not over yet. an online insurance price comparison service forecasts average national rates will rise another 6% in year -- this year to 2500. one florida mover who also sells home insurance tells fox business that he hasn't seen homeowners insurance costs this high in 27 years of business. listen. >> a

i want to go to gerri willis with more on this. >> reporter: charles, there is no doubt that the fednomic fate. jay powell concludes all of his speeches with these sentences we understand our actions affect communities, families, and businesses across the country. everything we do he says is in service to our public mission. during her time at the helm of the federal reserve, janet yellen was even more direct n. in a "60 minutes" interview -- >> i [bleep], i want people to look at me take seriously the harm and misery that was being experienced by all too many americans. >> reporter: now the fed knows higher rates exacerbate inequality. a federal reserve working paper in january of 2023 noted that nearly everyone percentage point policy induced increase in mortgage rates lowered the presence of moderate lower income households in the population of homebuyers. get fewer people with homeowners in 2023 savers made 315.4 billion in interest in deposit accounts. that is four times the 78.7 billion they earned in 2022. that is according to deposit accounts.com. which brings us to janet yel

gerri willis here with the details. >> reporter: charles, you got that right.he president to do the right thing for the u.s. economy, well it is down for president biden. look at this cratering, right? the bounce in confidence for jay powell at the start of the pandemic has also faded a lot too. take a look at this. this is just one train wreck happening here. it looks like some of this might be longer term decline in confidence in the federal reserve as an institution. now, inflation, most important financial problem amazing all americans although less for lower income households who are more worried about paying debts, health care costs and a lack of cash. get this, only 1% of upper income households are worried about cash. now a big reason for this is the two million dollars, two million dollars, being minted per minute, not month, not week, not hour, per minute by the treasury department which paid out a total of $89 billion last month. now this has created a conundrum for the fed. they can't cut-rates with rich folks spending but if they don't cut-rates ri

also joining us is gerri willis, also kennedy and also fox news contributor paul mauro. there is a lot to go over here but i want to start with this appeal decision from the first appellate division on the gag order i have it right here. >> kayleigh: let me sum this up, we have a picture politifact, this is michael cohen, what is he wearing? he is wearing a shirt depicting the former president donald trump behind bars. so he can wear this on tiktoker talk all about the trials but donald trump cannot respond. this is what they found, donald trump's documented speech is demonstrated will -- i am wondering what the functioning of a national presidential election of one of which they serial with a gag order that is inextricable from the d.c. case. this child has a direct bearing on a presidential election where free speech and political speech should be at its penultimate level but no, according to the appellate division he cannot speak. >> paul: of course political speech is your articulate, remember something else as well, while the jury is not sequestered they have been i