michael farr joining us.ibutor as well i mean, should we just be nervous about this is jay powell going to screw this economic expansion up >> not even jay powell will screw anything up today. so we'll see a very expected rate hike here so they're going to announce they did it. we'll look closely at the language in the report and we'll listen closely as they interview and figure out what jerome powell was trying to say this is telling us the economic expansion is intact. i had dr. jeff lacker on my podcast last night, the farrcast is what we call it he's former president of the richmond federal reserve he says four more hikes? yes. he thinks six to seven, maybe eight to nine. he's hawkish that was big news out of lacker. he has not been out a full year yet. so he knows those personalities. that can take those fed fund rates up to 3.5% he doesn't think that would be out of the realm at all. >> i heard your name was farr out, maybe that name was taken what would be the best case scenario for the fed a rate hike

judge kavanaugh impact president trump's agenda in the future let's bring in cnbc contributors michael farr and sara fagan. sara was white house political director for george w. bush. sara, let me begin with you. i will get to your relationship with judge kavanaugh it's a personal one, you work together with him and we'll get there in just a moment but as we look forward to the midterm elections and as this turmoil continues to brew, and there is that tomorrow and there is the president's meeting with mr. rosenstein about his continued tenure as the deputy director at the justice department, how do you think all of this will play out with the electorate and the voters in early november >> well, the supreme court i call it chaos, because that's where we are right now, has really energized both bases. there was a lot of thinking and actually a lot of evidence in polling and other public opinion measures, ballot measures that republicans weren't energized and weren't showing up in primaries as compared to the democrats. i think that changes all of this there's no doubt democrats are energized

threats as one of the biggest risks to financial stability so how worried should we be about that michael farr and lynn saunders is joining us. good to see you both >> i mean, there are a number of bogeys out there 37 we've be we've been talking about the next catalyst for the next crisis but cybersecurity is concerning because we've already had some companies that have been hacked at some point. how worried are you at schwab? >> i think we all need to be worried about it i can say at schwab we take this very seriously in terms of what we are doing inside our own organization and within our systems as i'm sure every other financial institution is but i think -- i have no greater than anybody else to speculate on if it happens and how big it is but i think there are a couple factors to consider. it does represent potentially something systemic that really kind of moves into the entire global fnkts system. but maybe just as important would be what it would do to see you coal g you -- psychology. if you think back to 2008, there were many reasons why the market went down as it did. but a lot of i