cook political report, senior white house and political correspondent, ed o'keefe is here, and nick timiraosdent for "the wall street journal" is also at the table. good morning to all of you. >> good morning. >> amy, we just heard anthony's scenario here. this is not a red wave, but it is a republican majority. does it match with what you're seeing? >> yeah. i think the way that anthony pointed it out is a very smart way of thinking about this. you know, elections, normally midterm elections, the challenge for the in-party is usually their own side doesn't turn out. that's where the other side is much more motivated and you see those big, big gains like we saw in 1994 or 2010 on the part of republicans. this year we're seeing republicans and democrats are motivated. republicans a little bit more. democrats feel pretty good that they're at least getting more of their base turned out. now, young voters being always a challenge for democrats. look, i think what happened over the course of the summer is that the issues surrounding abortion rights, plus the focus on donald trump, january 6th, an

the new york stock exchange coming up, a big interview you don't want to miss, fed whisperer, nick timiraos"wall street journal." he'll tell us what's likely to happen at next week's meeting and december and beyond. the best october ever for the dow and what it migh

stock toes reversing earlier losses after fed whisperer nick timiraos of the "wall street journal" reported some fed official officials have begun signaling their desire to slow down the pace of rate hikes after the november meeting. we are expecting at least for the november meeting a 75 basis point increase. markets cheering the possibility that the fed, led by chairman jay powell, will reconsider its aggressive policy stance as treasury yields fall if their highs. but other factors driving the market as well. investors considering a slew of corporate earnings. american expression and -- express and verizon both falling to the bomb of the dow during today's session after posting quarter arely results. amex, as you can see, down more than 3%, on pace for its lowest close since february of 2021. they reported that they're building up bigger provisions to prepare for potential defaults. company cpos saying that delinquency rates for loans have modestly picked up but do remain below pre-pandemic levels. as for verizon, stock dropping to an 111-year low after missing estimates for wireless sub

nick timiraos from "the wall street journal" wrote, there is a chance jay powell will bring up or mention 75 basis point rate hikes but maybe 50 basis points. wall street really liked that. that is one of the things that sparked this rally but then over the weekend he also wrote about a dilemma, right? this dilemma, folks, is kind of monday boggling, cash-rich consumers, do you know anybody who is cash-rich? how many households are cash risch? by the way he shared a quote from esther george, the kansas city fed president, the household buffers may allow them to spend in a way that keeps demand strong. again, a little frustrating because, she is talking about this sort of excess savings, right? the problem though, is society at large is going to pay a heavy price because the fed says there is too much money out there. we know already that there are parents who are skipping meals to so the children can eat. savings rate was down, over 20% not long ago. excess savings, folk, this is the way it is broken down, top half of quartiles, 50% of households look how much they have. look at the botto