Transcripts For FBC After The Bell 20170825 : vimarsana.com

It is now a category 3 storm with sustained winds of 125 miles an hour. When harvey hits the coast later this evening, it will be the strongest hurricane to hit the u. S. In 12 years. Here is the Texas Governor speaking this afternoon. We can tell at this stage this will be a very major disaster. David the president echoing his sentiment, the governors sentiment, just tweeting out, quote, i encourage everyone in the path of Hurricane Harvey to heed the advice and orders of their local and state officials. Fox news case see stiegel is right in the middle middle of it in galveston, texas. The bands are already coming in, are they, casey . I was given a sixpack of beer on live television, david, just as you were tossing the man casually walked in between our shot. I dont know if you made on tv or not. In all seriousness were starting to certainly feel harveys effects, to be honest weve been out here since 5 00 this morning. Only intensifying just as the forecasters said it would. Back out there is the gulf of mexico. We are in galveston. As you know, an area very familiar with tropical systems and hurricanes. And the water is coming up quite fast. In fact, we are already experiencing storm surge. Yet the storm itself, Hurricane Harvey, is still hours and hours away from officially making landfall. It will not make landfall where we are. It will happen just south of us, sort of between us and Corpus Christie. Corp. Russ christie is Corpus Christie is 200 mileses to the south. Hurricane harvey, according to National Hurricane center, will make landfall somewhere between those two place, overnight hours, Early Morning hours of tomorrow. The primary concern with this, in addition to the heavy winds and then the storm surge, but it really is the rain that is expected because this is a unique system in that once it comes ashore, it is going to sort of sit over us for days. Theyre talking about rainfall next tuesday, wednesday, thursday, possibly as a result of this system. And rain has already been falling. So the area is already waterlogged. So we have a number of factors that could be potentially, you know, catastrophic. Those are the exact words from the National Weather service, catastrophic event. Life, life endangering event. This is something folks are not taking lightly. A lot of people are watching very, very closely at this hour, david. David casey, stay safe. We thank you very much for that report. Well be bringing updates on the path and intensity of that storm throughout that hour. Cheryl . Cheryl breaking news continues. New orleans maryland drew on preparedness for harvey. Well listen in a minute. National Weather Service is expecting Hurricane Harvey to make landfall in texas. The storm could showdown considerably and make its way east in parts of louisiana next week but the future is uncertain. The latest forecast showing harvey strengthening and producing heavy rainfall in our regions. This is potentially localized flooding in new orleans from sunday through end of next week. Models will likely change as the start goes closer. Five to seven inches of rain five to seven days, potential for double if we get stuck in prolonged rain bands. Most heavy rain sometime between sunday through midweek. After slightly improving power and pump supply and adding pack of generators we believe our drainage system can handle this forecast unless of course we get stuck in a rain band that ken will talk more about. Again, small deviations in the storm tracks, intensity could lead to significant changes in impacts. National Weather Service urging all of us to be ready for flash flood warnings. Because the hurricane is not forecasted to come here at this time, we do not see a need for evacuation unless the hurricane direction begins to change. We will revisit that issue. Right now were encouraging people to prepare to shelter in place during height of the event which i will be next week sometime. Update the emergency plans starting today. Stay alert to protect not only the family, your property and your businesses as well. When there is he have had rainfall or flash flood warnings, everybody should move their cars to higher ground. We also have sandbags available to protect your homes and your businesses. Weve been coordinating with state, federal, local authorities for weeks. We are prepared for whatever comes our way. Right now, there is no reason to panic. Were prepared and were encouraging the public to do all they can to prepare as we do with every weather event, get a plan, be prepared to protect personal property. Want to talk about our city preparations. As i noted yesterday, last friday i led a tabletop exercise with Emergency Personnel from federal, state and local levels. This is something that we do for every hurricane season. This past tuesday i joined with governor edwards and fema administrator brock long. In that meeting i requested fema to preposition as many assets as possible on the ground in new orleans in the event of serious weather event. Were going to have that. I have led nearly daily calls with the city council and leaders of jefferson parish. Today participated in a coordination call with other regional parish president s. Were conducting calls with the National Weather service as i said at least twice a day. We have, as i said as a result of the tabletop exercise and anticipated event were about to have, been prestaging emergency assets throughout the city. The new Orleans Police department, new orleans fire department, ems, prestaged 20 high water vehicles, boats at locally strategically place around the city. Trying to prevent drivers going into those areas during high water. All of these assets are being backed up by the state searchandrescue units including Louisiana Fish and wildlife and the state fire marshal. The city is working with fema to prepare to bring in water and mres in the event we should need them. We have identified locations for special needs and other shelters should we need them. These locations are both on the east and west banks of the city. We will communicate those locations at the appropriate time if needed. Special needs shelters will be coordinated with the city and state Health Departments again only if we determine we need them based on weather forecasts changing as we speak. The citys Health Department has been in contact with those on our special needs registry, hospitals and Nursing Homes to insure they have updated emergency plans, generators and other necessities. Emergency personnel are being properly positioned. We will increase our First Responder staffing over the weekend, into next week to have all hands on deck, should the feed arise. Want to talk talk about surge water board pumps and drainage. They are working 24 7 to repair all power and pumps at the surge and waterboard. Since august we brought back one more turbine on line, three major pumps secured and mobilized 26 backup generators. Today 106 of 120 pumps are working. This includes both large drainage pumps and constant duty pumps. Cheryl listening to mayor Mitch Landrieu in new orleans talking about a threat of Hurricane Harvey. The landfall expecting to hit state of texas, the outer band expected to have a grave effect on city of new orleans. Remember 12 years ago, Hurricane Katrina in new orleans. The city preparing for ill effects of course of Hurricane Harvey. Want to take a look right now at the oil contract. Weve been watching oil moving as well as the dow. There is the dow rising 30 points. All this is happening despite what were seeing in the oil contract. Also some refineries under direct threat from Hurricane Harvey. Gerri willis on floor of new york stock exchange. She will wrap up a lot of big movers of today. Again the oil story is big. I want to go to phil flynn standing by at cme in chicago. Phil, first to you. We were talking early this morning with you, of course platforms are evacuated a couple of days ago. Platforms in the gulf are safe but those refineries still seem to be in the direct path of harvey. Absolutely. That is one of the driving forces of prices today. How bad are these refineries going to get hit . How bad is going to be the flooding . And how fast can they bring them back on line, if they bring them back on line, will anybody be able to drive because of flooding . This is very fluid. Department of energy will announce to be standing ready to release oil from the Strategic Petroleum reserve if needed. That is message to the market if the storm is bad to come, there will be oil there. That is one of the underplayed parts of this story. A lot of people are dismissing the fact this could have big impact on production. Right now we have 21 1 2 u. S. Oil production offline, gas production, 23 . That production is going up as we speak. Bp is shutting down production at two major facilities in gulf of mexico because the pipeline is being shut down. They cant move oil. That is going up even more. More production coming offline. The other concern is flooding, once we get on to land, how will it impact on land production . As we know texas is a big producer of oil. We have a lot of Shale Oil Production just offshore. Depending how this storm goes it could have a longlasting impact the current track looks like will miss majority of shaled fields. Possible some of the fields in eagleford shale may be underwater t may take months to bring them back on. We dont know until the storm hits. It is a very scary storm and the industry is bath down the hatches right now. David phil flynn, thank you very much. Well keep you uptodate what is happening with the oil rigs as the storm progresses. Meanwhile, gerri, the market lost a lot of steam by the end of the day. Is that because traders are worried about the storm . There is a lot of worry about the storm. Were looking at hurricane recovery stocks all day long. As you might expect, home depot, lowes, those stocks trading higher, we expect consumers be rushing to buy things to rebuild. It goes as far as Building Materials companies on fire. Beacon, usg, owenscorning getting a boost here. People realize a storm of this type, intensity and strength will create need for buying and purchasing among texas consumers. I want to address the fact what is going on in these markets. Stocks generally in the dow and s p 500, higher today and for the week. Why . Because they were able to shrug off some negatives. They were able to shrug off negatives from the amazon acquisition of whole foods and cutting back prices. So that is good news for some retailers. I have to tell you. Well be watching this monday morning for sure. Back to you. David whole weekend, particularly monday when markets open. Wells wills thank you very much. Cheryl. Cheryl all ice in washington on Hurricane Harvey as this gears up to be major storm. This could be the first major test for the President Trump and the Trump Administration as they push on the agenda. Blake burman from the white house surrounding administrations moves. Blake . Reporter President Trump is at camp david an hour from the white house. Vice president mike pence staying in d. C. This weekend. On his way to camp david as the president left the white house to board marine one. He was asked to give a message to the people of texas, he said, quote, good luck everybody, as he flashed thumbs up. The president briefed at the white house inside the oval office by Homeland Security advisor tom bossert. Bossert said the president had three main concerns. First he wanted to make sure everybody in that region could get out of harms way. Secondly he wanted to know that the appropriate resources are in place. Bossert said, that fema has no unmet needs at this point. Thirdly, bossert said, the president also wanted to make sure that the people of louisiana are taken care of, should the storms path end up changing. At the white house theyre dealing with entirely different issue. That being concerns of top Economic Advisor gary cohn as it relates to the response that the president had with charlottesville. The, cohn, in an interview today with the Financial Times said he had received an immense amount of pressure to resign because of those comments. Cohn went on to say the following, and i quote here, i believe this administration can and must do better and consistently unequivocally condemning these groups and do everything we can to heal deep divisions that exist in our communities. As a jewishamerican i will not allow neonazis ranting jews will not replace us, to cause this jew to leave his job. Treasury secretary Steve Mnuchin addressed cohns comments earlier today at the White House Press briefing. Gary and i have known each other for 20 years. I can tell you im speaking to him every day. His number one focus is absolutely working on tax reform with me, getting tax reform done. Gary is committed to be here. Couldnt be more excited about that. Reporter i also asked the treasury secretary about the timing of tax reform and whether or not this will be a 2017 or 2018 event. Mnuchin said to me, quote, he is very hopeful, i think i can get this done about it end of the year but we will continue to revisit that, end quote. He said tax reform is now the president s number one priority. Cheryl, david. Back to you. Cheryl a few days to get it done. Blake burman at the white house, thanks, blake. David here to react john hills send wrath, wall street journal chief investment and there has been a lot of gary cohn perhaps moving over to the Federal Reserve, an area that you know extraordinarily well. Nobody knows it better than you do. He couldnt immediately jump in take Janet Yellens place, right . He would have first to be appointed a governor. Do you think he might move out . Have you heard possibly moving into the fed for gary . Well we interviewed the president earlier this month and he put out gary cohn as janet yellen as two of his top candidates. He is looking at some other people but he doesnt want to name them. I think you have to consider yellen and cohn to be the two lead horses right now. David by the way according to the Federal Reserve documents that i looked at you have to first be a governor before you can be the chairman. Would the president the president could appoint him as a governor and chairman simultaneously. David i see, okay. Could move into the positions at same time. I dont see that being impediment. When Alan Greenspan became chairman of the fed back in 1987, he was outside the fed, moved straight into the job. Codo it. He is one of the lead people. Some people argue he might prefer that job because he has more independence in the job as fed chairman than the righthand person to the president. David its a very powerful job. Carol, some people say at times, could be more powerful than a president. Lets talk about taxes because so many people are waiting with bated breath for tax reform, some kind of tax reform. The president is going out barnstorming for tax reform next week. I think he begins in somewhere in the midwest, i believe producers, minneapolis . At any rate, going to be in the midwest, missouri. Okay. Do you think that he will do for tax reform what he did not do for health care . And that well see it in 2017 . I certainly hope so, david. I know that you and i have both said many times we think this should have been a top priority instead of going down the Health Care Route but i think this is really more within the tool kit of not just President Trump but people in his administration. Whether it be mnuchin or cohn and this is something that even if they cant get the entire sweeping reform done, they should at least be able to make some progress on taxes. David let us hope and pray. Carol, jon, sorry to cut you short. We have breaking news on the weather situation in texas. Well be right back. When heartburn hits fight back fast with tums chewy bites. Fast relief in every bite. Crunchy outside. Chewy inside. Tum tum tum tum tums chewy bites. Im. Im so in love with you. Whatever you want to do. Is alright with me. Ooo baby lets. Lets stay together. con artists. theyll try anything to get your Medicare Card number. So they can steal your identity, commit medicare fraud. What can you do . Guard your card . Guard your card . Just like your credit card. Nobody gets my number, unless i know they should have it. To protect your identity, new Medicare Cards without Social Security numbers will be mailed next year. Visit medicare. Gov fraud stay sharp people so we need tablets installed. With the menu app ready to roll. In 12 weeks. Yeah. The world of fast food is being changed by faster networks. Data, applications, customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Fast connections everywhere. Thats how you outmaneuver. Cheryl the white house and fema facing a big test with the pretty muching hurricane. Are they prepared . Senator Chuck Grassley realdonaldtrump, hurricane keep on top of Hurricane Harvey. Dont make same mistake president bush made with katrina that was from Texas Governor<\/a> speaking this afternoon. We can tell at this stage this will be a very major disaster. David the president echoing his sentiment, the governors sentiment, just tweeting out, quote, i encourage everyone in the path of Hurricane Harvey<\/a> to heed the advice and orders of their local and state officials. Fox news case see stiegel is right in the middle middle of it in galveston, texas. The bands are already coming in, are they, casey . I was given a sixpack of beer on live television, david, just as you were tossing the man casually walked in between our shot. I dont know if you made on tv or not. In all seriousness were starting to certainly feel harveys effects, to be honest weve been out here since 5 00 this morning. Only intensifying just as the forecasters said it would. Back out there is the gulf of mexico. We are in galveston. As you know, an area very familiar with tropical systems and hurricanes. And the water is coming up quite fast. In fact, we are already experiencing storm surge. Yet the storm itself, Hurricane Harvey<\/a>, is still hours and hours away from officially making landfall. It will not make landfall where we are. It will happen just south of us, sort of between us and Corpus Christie<\/a>. Corp. Russ christie is Corpus Christie<\/a> is 200 mileses to the south. Hurricane harvey, according to National Hurricane<\/a> center, will make landfall somewhere between those two place, overnight hours, Early Morning<\/a> hours of tomorrow. The primary concern with this, in addition to the heavy winds and then the storm surge, but it really is the rain that is expected because this is a unique system in that once it comes ashore, it is going to sort of sit over us for days. Theyre talking about rainfall next tuesday, wednesday, thursday, possibly as a result of this system. And rain has already been falling. So the area is already waterlogged. So we have a number of factors that could be potentially, you know, catastrophic. Those are the exact words from the National Weather<\/a> service, catastrophic event. Life, life endangering event. This is something folks are not taking lightly. A lot of people are watching very, very closely at this hour, david. David casey, stay safe. We thank you very much for that report. Well be bringing updates on the path and intensity of that storm throughout that hour. Cheryl . Cheryl breaking news continues. New orleans maryland drew on preparedness for harvey. Well listen in a minute. National Weather Service<\/a> is expecting Hurricane Harvey<\/a> to make landfall in texas. The storm could showdown considerably and make its way east in parts of louisiana next week but the future is uncertain. The latest forecast showing harvey strengthening and producing heavy rainfall in our regions. This is potentially localized flooding in new orleans from sunday through end of next week. Models will likely change as the start goes closer. Five to seven inches of rain five to seven days, potential for double if we get stuck in prolonged rain bands. Most heavy rain sometime between sunday through midweek. After slightly improving power and pump supply and adding pack of generators we believe our drainage system can handle this forecast unless of course we get stuck in a rain band that ken will talk more about. Again, small deviations in the storm tracks, intensity could lead to significant changes in impacts. National Weather Service<\/a> urging all of us to be ready for flash flood warnings. Because the hurricane is not forecasted to come here at this time, we do not see a need for evacuation unless the hurricane direction begins to change. We will revisit that issue. Right now were encouraging people to prepare to shelter in place during height of the event which i will be next week sometime. Update the emergency plans starting today. Stay alert to protect not only the family, your property and your businesses as well. When there is he have had rainfall or flash flood warnings, everybody should move their cars to higher ground. We also have sandbags available to protect your homes and your businesses. Weve been coordinating with state, federal, local authorities for weeks. We are prepared for whatever comes our way. Right now, there is no reason to panic. Were prepared and were encouraging the public to do all they can to prepare as we do with every weather event, get a plan, be prepared to protect personal property. Want to talk about our city preparations. As i noted yesterday, last friday i led a tabletop exercise with Emergency Personnel<\/a> from federal, state and local levels. This is something that we do for every hurricane season. This past tuesday i joined with governor edwards and fema administrator brock long. In that meeting i requested fema to preposition as many assets as possible on the ground in new orleans in the event of serious weather event. Were going to have that. I have led nearly daily calls with the city council and leaders of jefferson parish. Today participated in a coordination call with other regional parish president s. Were conducting calls with the National Weather<\/a> service as i said at least twice a day. We have, as i said as a result of the tabletop exercise and anticipated event were about to have, been prestaging emergency assets throughout the city. The new Orleans Police<\/a> department, new orleans fire department, ems, prestaged 20 high water vehicles, boats at locally strategically place around the city. Trying to prevent drivers going into those areas during high water. All of these assets are being backed up by the state searchandrescue units including Louisiana Fish<\/a> and wildlife and the state fire marshal. The city is working with fema to prepare to bring in water and mres in the event we should need them. We have identified locations for special needs and other shelters should we need them. These locations are both on the east and west banks of the city. We will communicate those locations at the appropriate time if needed. Special needs shelters will be coordinated with the city and state Health Departments<\/a> again only if we determine we need them based on weather forecasts changing as we speak. The citys Health Department<\/a> has been in contact with those on our special needs registry, hospitals and Nursing Homes<\/a> to insure they have updated emergency plans, generators and other necessities. Emergency personnel are being properly positioned. We will increase our First Responder<\/a> staffing over the weekend, into next week to have all hands on deck, should the feed arise. Want to talk talk about surge water board pumps and drainage. They are working 24 7 to repair all power and pumps at the surge and waterboard. Since august we brought back one more turbine on line, three major pumps secured and mobilized 26 backup generators. Today 106 of 120 pumps are working. This includes both large drainage pumps and constant duty pumps. Cheryl listening to mayor Mitch Landrieu<\/a> in new orleans talking about a threat of Hurricane Harvey<\/a>. The landfall expecting to hit state of texas, the outer band expected to have a grave effect on city of new orleans. Remember 12 years ago, Hurricane Katrina<\/a> in new orleans. The city preparing for ill effects of course of Hurricane Harvey<\/a>. Want to take a look right now at the oil contract. Weve been watching oil moving as well as the dow. There is the dow rising 30 points. All this is happening despite what were seeing in the oil contract. Also some refineries under direct threat from Hurricane Harvey<\/a>. Gerri willis on floor of new york stock exchange. She will wrap up a lot of big movers of today. Again the oil story is big. I want to go to phil flynn standing by at cme in chicago. Phil, first to you. We were talking early this morning with you, of course platforms are evacuated a couple of days ago. Platforms in the gulf are safe but those refineries still seem to be in the direct path of harvey. Absolutely. That is one of the driving forces of prices today. How bad are these refineries going to get hit . How bad is going to be the flooding . And how fast can they bring them back on line, if they bring them back on line, will anybody be able to drive because of flooding . This is very fluid. Department of energy will announce to be standing ready to release oil from the Strategic Petroleum<\/a> reserve if needed. That is message to the market if the storm is bad to come, there will be oil there. That is one of the underplayed parts of this story. A lot of people are dismissing the fact this could have big impact on production. Right now we have 21 1 2 u. S. Oil production offline, gas production, 23 . That production is going up as we speak. Bp is shutting down production at two major facilities in gulf of mexico because the pipeline is being shut down. They cant move oil. That is going up even more. More production coming offline. The other concern is flooding, once we get on to land, how will it impact on land production . As we know texas is a big producer of oil. We have a lot of Shale Oil Production<\/a> just offshore. Depending how this storm goes it could have a longlasting impact the current track looks like will miss majority of shaled fields. Possible some of the fields in eagleford shale may be underwater t may take months to bring them back on. We dont know until the storm hits. It is a very scary storm and the industry is bath down the hatches right now. David phil flynn, thank you very much. Well keep you uptodate what is happening with the oil rigs as the storm progresses. Meanwhile, gerri, the market lost a lot of steam by the end of the day. Is that because traders are worried about the storm . There is a lot of worry about the storm. Were looking at hurricane recovery stocks all day long. As you might expect, home depot, lowes, those stocks trading higher, we expect consumers be rushing to buy things to rebuild. It goes as far as Building Materials<\/a> companies on fire. Beacon, usg, owenscorning getting a boost here. People realize a storm of this type, intensity and strength will create need for buying and purchasing among texas consumers. I want to address the fact what is going on in these markets. Stocks generally in the dow and s p 500, higher today and for the week. Why . Because they were able to shrug off some negatives. They were able to shrug off negatives from the amazon acquisition of whole foods and cutting back prices. So that is good news for some retailers. I have to tell you. Well be watching this monday morning for sure. Back to you. David whole weekend, particularly monday when markets open. Wells wills thank you very much. Cheryl. Cheryl all ice in washington on Hurricane Harvey<\/a> as this gears up to be major storm. This could be the first major test for the President Trump<\/a> and the Trump Administration<\/a> as they push on the agenda. Blake burman from the white house surrounding administrations moves. Blake . Reporter President Trump<\/a> is at camp david an hour from the white house. Vice president mike pence staying in d. C. This weekend. On his way to camp david as the president left the white house to board marine one. He was asked to give a message to the people of texas, he said, quote, good luck everybody, as he flashed thumbs up. The president briefed at the white house inside the oval office by Homeland Security<\/a> advisor tom bossert. Bossert said the president had three main concerns. First he wanted to make sure everybody in that region could get out of harms way. Secondly he wanted to know that the appropriate resources are in place. Bossert said, that fema has no unmet needs at this point. Thirdly, bossert said, the president also wanted to make sure that the people of louisiana are taken care of, should the storms path end up changing. At the white house theyre dealing with entirely different issue. That being concerns of top Economic Advisor<\/a> gary cohn as it relates to the response that the president had with charlottesville. The, cohn, in an interview today with the Financial Times<\/a> said he had received an immense amount of pressure to resign because of those comments. Cohn went on to say the following, and i quote here, i believe this administration can and must do better and consistently unequivocally condemning these groups and do everything we can to heal deep divisions that exist in our communities. As a jewishamerican i will not allow neonazis ranting jews will not replace us, to cause this jew to leave his job. Treasury secretary Steve Mnuchin<\/a> addressed cohns comments earlier today at the White House Press<\/a> briefing. Gary and i have known each other for 20 years. I can tell you im speaking to him every day. His number one focus is absolutely working on tax reform with me, getting tax reform done. Gary is committed to be here. Couldnt be more excited about that. Reporter i also asked the treasury secretary about the timing of tax reform and whether or not this will be a 2017 or 2018 event. Mnuchin said to me, quote, he is very hopeful, i think i can get this done about it end of the year but we will continue to revisit that, end quote. He said tax reform is now the president s number one priority. Cheryl, david. Back to you. Cheryl a few days to get it done. Blake burman at the white house, thanks, blake. David here to react john hills send wrath, wall street journal chief investment and there has been a lot of gary cohn perhaps moving over to the Federal Reserve<\/a>, an area that you know extraordinarily well. Nobody knows it better than you do. He couldnt immediately jump in take Janet Yellens<\/a> place, right . He would have first to be appointed a governor. Do you think he might move out . Have you heard possibly moving into the fed for gary . Well we interviewed the president earlier this month and he put out gary cohn as janet yellen as two of his top candidates. He is looking at some other people but he doesnt want to name them. I think you have to consider yellen and cohn to be the two lead horses right now. David by the way according to the Federal Reserve<\/a> documents that i looked at you have to first be a governor before you can be the chairman. Would the president the president could appoint him as a governor and chairman simultaneously. David i see, okay. Could move into the positions at same time. I dont see that being impediment. When Alan Greenspan<\/a> became chairman of the fed back in 1987, he was outside the fed, moved straight into the job. Codo it. He is one of the lead people. Some people argue he might prefer that job because he has more independence in the job as fed chairman than the righthand person to the president. David its a very powerful job. Carol, some people say at times, could be more powerful than a president. Lets talk about taxes because so many people are waiting with bated breath for tax reform, some kind of tax reform. The president is going out barnstorming for tax reform next week. I think he begins in somewhere in the midwest, i believe producers, minneapolis . At any rate, going to be in the midwest, missouri. Okay. Do you think that he will do for tax reform what he did not do for health care . And that well see it in 2017 . I certainly hope so, david. I know that you and i have both said many times we think this should have been a top priority instead of going down the Health Care Route<\/a> but i think this is really more within the tool kit of not just President Trump<\/a> but people in his administration. Whether it be mnuchin or cohn and this is something that even if they cant get the entire sweeping reform done, they should at least be able to make some progress on taxes. David let us hope and pray. Carol, jon, sorry to cut you short. We have breaking news on the weather situation in texas. Well be right back. When heartburn hits fight back fast with tums chewy bites. Fast relief in every bite. Crunchy outside. Chewy inside. Tum tum tum tum tums chewy bites. Im. Im so in love with you. Whatever you want to do. Is alright with me. Ooo baby lets. Lets stay together. con artists. theyll try anything to get your Medicare Card<\/a> number. So they can steal your identity, commit medicare fraud. What can you do . Guard your card . Guard your card . Just like your credit card. Nobody gets my number, unless i know they should have it. To protect your identity, new Medicare Card<\/a>s without Social Security<\/a> numbers will be mailed next year. Visit medicare. Gov fraud stay sharp people so we need tablets installed. With the menu app ready to roll. In 12 weeks. Yeah. The world of fast food is being changed by faster networks. Data, applications, customer experience. Which is why comcast business delivers Consistent Network Performance<\/a> and speed across all your locations. Fast connections everywhere. Thats how you outmaneuver. Cheryl the white house and fema facing a big test with the pretty muching hurricane. Are they prepared . Senator Chuck Grassley<\/a> realdonaldtrump, hurricane keep on top of Hurricane Harvey<\/a>. Dont make same mistake president bush made with katrina that was from Chuck Grassley<\/a>. Bring in mike brown, former fema director during Hurricane Katrina<\/a>. Sad reason to have you on as we heard from the mayor of new orleans. What do you make of that tweet from senator grassley. I think it was a shot across the bow a little bit, dont you think . Maybe a shot across the bow. I happen to agree with him. I wrote an opinion piece for the hill magazine where i talk about the bully pulpit. One of the problems that i had during katrina was it was august. It was summer. Everybody was on vacation. There was this lack of urgency. There was this lack of bureaucracy and cabinet officials responding. So i said almost exactly same thing senator grassley said. Mr. President you need to make certain whatever brock long the fema administrator asks for, members and subcabinet know, give it to him, dont ask questions. He is on the ground, give it to him. We have a problem we have a lot of vacancies in this administration. I think the president can make it work if he gets on bully pulpit. Cheryl it is interesting, mike, first time i interviewed you during the katrina crisis. That was such a surprise, if you will for all of us, that the path of the hurricane changed so quickly. Yes. Cheryl this seems different. We heard from the white house at the briefing. A lot of focus and texas and attention on texas and from bab bab abbott. Seems theyre prepared for this and Vice President<\/a> pence is monitoring the hurricane. Governor abbott knows what his responsiblities are. As i have told people in other discussions, right now, what you and i dont see, but whats going on is that representatives of fema are sitting down with representatives of texas and this is the conversation theyre having. Okay, governor, what do you need . What is working, whats not working . Theyre divvying up responsibilities of who is going to do what. What does texas need they cant get that fema can provide is that fema can start thinking about deploying those assets now, rather than wait two or three days or even worst case situation, having some argument back in d. C. Among cabinet officials, will fema ask for five black hawks. They only need three. Do what fema asks, they are the folks on the ground and they know. Cheryl President Trump<\/a> tweeting a picture from fema. We didnt have this 12 years ago. We didnt have twitter mike. Right exactly. Cheryl it gives americans comfort to see how ready and prepared they are now. That is the difference from 12 years later. That is a difference. I tell you the other difference is, brock long was my representative at the National Hurricane<\/a> center when i was fema director. I can tell you unequivocally, that brock long understands federal state and local responsibilities. He knows how and where to deploy assets so they dont get in the way of the storm. He knows how to sit down with a governor to ask tough questions about what can you do, what cant you do. Cheryl right. I think there is a whole different attitude this time. I think it is great. Cheryl i think youre right. Mike brown, great to have you on the show. Good to see you guys. You bet. David coming up President Trump<\/a> versus congress. President trump pushing ahead on his ambitious agenda but are all Republican Leaders<\/a> on the same side . Former governor Mike Huckabee<\/a> weighing on that after a short break. Dont let dust and allergens get between you and lifes beautiful moments. Switch to flonase allergy relief. Flonase outperforms the 1 nondrowsy allergy pill. When we breathe in allergens, our bodies react by overproducing 6 key inflammatory substances that cause our symptoms. Flonase helps block 6. Most allergy pills only block one and 6 is greater than 1. With more complete relief you can enjoy every beautiful moment to the fullest. Flonase. 6 is greater than 1 changes everything. David President Trump<\/a> sparring with yet another member congress. This time the president taking aim at republican senator bob corker of tennessee. Of course the senator really started it. He said that President Trump<\/a> has not shown what it takes to be a successful president. The president tweeting this in response, quote, strange statement by bob corker, considering that he is constantly asking me whether or not he should run in 2018. Tennessee not happy. Joining us to react is former governor Mike Huckabee<\/a>, also fox news contributor. Why, oh, why, would anybody think they could get away against a cheap shot against the president . He always comes back harder . He always comes back 10 times harder. Anybody who doesnt know that, was sound asleep during the entire gop primary and entire election. David you found that out, governor. I wasnt stupid enough to call him out. I was one of those guys who never went out to have a fight with donald trump. Number one that wasnt very productive. Number two, i looked around and saw the carnage all of my colleagues who thought it would be smart to take on donald trump during the primary. Here is what i want to know, david david think of the stakes, the stakes are so high, one time weve had in 20 or 30 years to have comprehensive tax reform to get the countrys economy back on track. This is a time for every republican to stick together to get that tax reform in. Why are people straying away from that . It is beyond my ability to understand why some of these senators, whether it is bob corker, jeff flake, they want to write books, they want to be loved by the media. They want to be embraced by democrats, i dont know what it is but here is what doesnt make sense. They have got a president ready to deliver the most significant tax reform in our lifetime, who is already delivered on an economic environment in which the stock market has sorn to new levels. We have some things we could be getting done. But what do we have . We have individual legislators want to go out to criticize their own president , the people of their own party elected and, let me be clear, first, nominated by the largest margin of votes in the history of the gop primary. David, it makes no sense. David david, makes no sense. Lest forget who is leading republicans in the u. S. Senate, we have a guy, day before yesterday, came out in the new york times, tremendous criticism of the president. Raising issues, for example, applauding, patting on back those Business People<\/a> who let the white house Business Councils<\/a> applauding their actions. This is not what a leader is supposed to do to rally forces behind a president of his own party . Well, i think a lot of republicans outside of the bubble of washington where they sniff a Different Air<\/a> than the rest of us, i think they need to really understand that a lot of them are likely to be sent home at the next opportunity because people have gotten sick of waiting for eight years during the obama years, to get something done, real tax reform. Real reform in regulation. Of. Genuine repeal and replace of obamacare. The list goes on. Simple things, defunding planned parenthood, not one of those things has happened, not because of a being la of effort on the part of the president but because of a complete stonewalling from this congress. And it has got to change. David governor Mike Huckabee<\/a>, wonderful to see you, thank you very much for being here. Appreciate it. Thank you, david. Cheryl Hurricane Harvey<\/a> continues to barrel down on the gulf coast of texas right now. The storm has gained some strength as it is going along. Bring in Rick Reichmuth<\/a> tracking the storm of course in the weather center. What is the latest with harvey . Still strengthening. The looks like the pressure con ins to drop. Look at satellite imagery, cheryl, look at that. They launched a new satellite, goas 16. Gives refreshes of images. Every five minutes. We have never seen a hurricane before on satellite imagery, this clearly defined. Look at the eye not so clear, getting closer to land, much clearer. That is bad news with a strengthening storm getting toward landfall. Unfortunately category 3 storm can not rule out it is getting stronger. Makes landfall tonight sometime. Of tomorrow at 7 00 p. M. Still category one hurricane. 18 hours of hurricaneforce winds. Corpus christie, wind gusting 70 milesanhour. Youre still 70 miles away from center of the storm. A large area getting strong wind, incredible area getting strong wind and heavy rain. Nudged up against high pressure. Once it moves inland, it will move it back a little bit. Because of that were talking about rainfall totals, three, four feet. Models put out things as high as 53inches. I dont know if that will verify when you have a verifiable model showing that, it worries. Cheryl when do you see it making landfall. Landfall is big thing, we get excited and talks about it, but probably talking about an event goes to wednesday next week. Five or six days. Tropical kind of rain across this area and the wind and storm surge across such a big area. Why were talking in such terms like catastrophic and lifethreatening. Cheryl devastating. Rick, thank you very much for that appreciate it. David i saw 53 inches at one point, the worstcase scenario. 353 inches. Let smack talk begin, millions of dollars flowing into las vegas, what could be most heavily bet on backing match of all time. Details coming up. Copd makes it hard to breathe. So to breathe better, i go with anoro. Go your own way copd tries to say, go this way. I say, ill go my own way with anoro. Go your own way oncedaily anoro contains two medicines called bronchodilators, that Work Together<\/a> to significantly improve lung function all day and all night. Anoro is not for asthma. It contains a type of medicine that increases risk of death in people with asthma. The risk is unknown in copd. Anoro wont replace rescue inhalers for sudden symptoms and should not be used more than once a day. Tell your doctor if you have a heart condition, high blood pressure, glaucoma, prostate, bladder, or urinary problems. These may worsen with anoro. Call your doctor if you have worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain while taking anoro. Ask your doctor about anoro. Go your own way get your first prescription free at anoro. Com. Excuse me, are you aware of whats happening right now . Were facing 20 billion security events every day. Ddos campaigns, ransomware, malware attacks. Actually, we just handled all the priority threats. You did that . We did that. Really. We analyzed millions of articles and reports. We can identify threats 50 faster. You can do that . We can do that. Then do that. Can we do that . We can do that. David taking a live look right now at galveston, texas, where the storm surge for the cat3 hurricane, harvey expected to be at least, very least two to four feet high. It will be a dangerous surge. Please take cover if youre in the area. Cheryl. Cheryl were continuing to track harvey. Were tracking what is happening out west today, economic power players gathering in jackson hole, wyoming for the annual fed conference. Adam shapiro after just finishing up a interview governor jay powell. Adam. Reporter cheryl this, is all focused on boosting global growth. The theme we heard from janet yellen and mario draghi, the head of the ecb, policies Central Banks<\/a> in the United States<\/a> and one in europe using to avert the financial crisis that began in 2008, they say those policies are working. So i asked the governor, jay powell, do you agree, and here is what he said. I think that is very wise council frankly and i think that is why were so focused on preserving and improving the fundamental pillars, higher riskbased capital. Formal liquidity requirements, stress testing and resolution planning. Those four things are certainly important. We can improve them, make them more efficient, that sort of thing. At the same time, the chair said we have obligation which we take seriously, to review our reforms, to insure they are efficient, make improvements where theyre appropriate. Doing quite a bit of that as well. Reporter went out of her way in the speech to talk about the largest banks, Capital Requirements<\/a> seem to be appropriate but perhaps tweaking of this would be to benefit of the community banks, Smaller Banks<\/a> which are not held to same standards, correct . Capital standards will be a little bit lower than they are for the highest, for the largest, most systematicallyimportant banks but additionally Smaller Banks<\/a> feel burden of regulation than larger banks. Large ink banks have a way to sd the costs better than Smaller Banks<\/a>. Reporter theyre looking for comments from you and other people we interviewed giving them an idea when Interest Rates<\/a> go up and actual unwinding of the Balance Sheet<\/a> would begin and you in speeches prior to today talked about the fed need to be open and transparent but hard to target when those will actually happening because the situation is moving correct. The markets are constantly evolving but i think weve been very transparent. For example, we very carefully develop ad plan for beginning to normalize the size of the Balance Sheet<\/a>, to shrink the Balance Sheet<\/a>. We socialized the plan with the markets. The markets accepted it, without much reaction at all. We said well do that fairly soon. That i think is more or less in the market. I expect well do it very soon. On Interest Rates<\/a>, where we are the economy is very strong, unemployment is low, were continuing to create a lot of jobs but inflation is low. That low inflation gives us a chance to be patient if that turns out to be appropriate. Reporter we also asked the governor if the president were to call and ask him to be the next fed chair, what would he say . And he said he would not speculate what will happen in the future. Of course janet yellen, her term is up early next year, and the question people are asking, who might be the neck chair if the president doesnt choose to ask or reappoint janet yellen. Of course her speech this morning she made it very clear although the president called for the fed to remove and rescind some of its policies, she doesnt think that would be appropriate and doesnt really have any plans to do that. Back to you, cheryl. Cheryl then there is gary cohn right there in washington right next to the president. So, yeah. It is an intriguing story line. Adam, intriguing interview. David the gulf coast bracing for the strongest storm to hit the u. S. Coast in 12 years. Hurricane harvey expected to slam into texas late tonight. It could linger for days. Texas officials warning people in particularly lowlying areas to get out now. What you need to know about the storm. The latest news coming up. Cheryl plus the man behind a discredited trump dossier ordered to testify. Was this disinformation . Well talk to a excia station chief what is going on, next. Reat for you today. Michael awesome. Potsch im going to show you a next generation pickup. Michael lets do this. Potsch this new truck now has a cornerstep built right into the bumper. Gary super cool. Potsch the bed is made of highstrength steel, which is less susceptible to punctures than aluminum. Jim aluminum is great for a lot of things, but maybe not the bed of a truck. Potsch and best of all, this new truck is actually gary all laughing oh my. Potsch the current chevy silverado. Gary im speechless. Gary this puts my ford truck to shame. James ill tell you, i might be a chevy guy now. laughing when heartburn hits fight back fast with tums chewy bites. Fast relief in every bite. Crunchy outside. Chewy inside. Tum tum tum tum tums chewy bites. Cheryl want to give you another live look at galveston, texas, an texas a m professor in college of Sciences Says<\/a> that harvey could knock out power for 1. 25 million texans. Well watchstorm for the whole weekend. David, fusion, the Organization Behind<\/a> a widely discredited russia trump dossier is coming under closer congressional scrutiny. The former british spy who put it dossier together may be forced to testify here and britain about his russian connections. Daniel hoffman, former cia station chief who worked in moscow for several years. Thanks for coming in. Youre in a unique position to tell us what is going on here. Do you think the fusion gps dossier or supplied to fusion, a bit of russian disinformation . We used that term a lot during the soviet union, does it sound like that to you . First a couple quick background points, the russian bringing a defamation suit against the british former mi6 steele, is the ceo of xbt holdings. He lives in cyprus but operates extensively throughout europe and the United States<\/a>. He is up plys web servers and he is upset because he believes that he is losing clients because in the dossier it claims he was responsible for viruses and malware hacking into the Democratic National<\/a> committee. From my reading this, there are a lot of open questions, and i would be wary of making any precipitous conclusions. David right. But whats happened of course as it became a Political Tool<\/a> of both parties if you will, particularly the democrats who are saying even now, theyre saying this proves that there was collusion between trump and the russians, when in fact, fusion gps has done a lot of work for democrats. Theyre the ones that came out with information that was critical of donald trump, and they were working with the russians . Yeah, thats true and i think there are three really key Unanswered Questions<\/a> here. One is, we still havent seen the forensics on the dnc servers. That is important. We dont know the extent to which he was linked with russian intelligence or the russian government. That is also important. And then third, we dont know much about steeles sources and methods. An Intelligence Officer<\/a> looking at this would want to make analytical conclusions. It is not important own hi what we believe, but how strongly we believe it and that is based on the veracity of sources and im not so sure how great steeles sources were. David seems like there was an attempt by the russians leading up to this election to lure both parties, individuals we had the june 2016 meeting with donald trump, jr. , and this russian lawyer, this woman lawyer, which seemed to kind of lure them in, come on, we got information about hillary. She had nothing. At same time you have fusion gps kind of luring democrats in come on, we have some really damning details about donald trump and russia. That turns out to be largely discredited, if not completely. So it was an attempt by the russians to lure both side in with bad information. I agree. My reading the evidence russia writ large wanted to soil our democratic institutions. I think that is where the evidence points us right now. David that they have been doing for decades. Daniel hoffman, thanks for your service. Thank you. Cheryl show you something pretty incredible. Look at nasa images from space. David wow. Cheryl well keep an eye on the storm. Well bring all the latest on texas. You will want to stay with us as we watch Hurricane Harvey<\/a>. That cause symptoms. Pills block one and 6 is greater than 1. Flonase changes everything. You totanobodys hurt, new car. But there will still be pain. It comes when your Insurance Company<\/a> says theyll only pay threequarters of what it takes to replace it. What are you supposed to do . Drive threequarters of a car . Now if you had Liberty Mutual<\/a> new car replacement\u2122, youd get your whole car back. I guess they dont want you driving around on three wheels. Smart. With Liberty Mutual<\/a> new car replacement\u2122, well replace the full value of your car. Liberty stands with you\u2122. Liberty mutual insurance. So new touch screens. And biometrics. In 574 branches. All done by. Yesterday. Banks arent just undergoing a face lift. Theyre undergoing a transformation. A data fueled, security driven shift in applications and customer experience. Which is why comcast business delivers Consistent Network Performance<\/a> and speed across all your locations. Hello, mr. Deets. Every Branch Running<\/a> like headquarters. Thats how you outmaneuver. Cheryl the fight of the century is almost here. Floyd mayweather and Conor Mcgregor<\/a> are getting ready to square off in las vegas tomorrow night. Hillary vaughn is live in vegas with the details of, well, a billion dollar boxing match. Hey, hillary. Reporter hey, cheryl. Right now the arena is filling with fans ready to see Floyd Mayweather<\/a> and Conor Mcgregor<\/a> meet facetoface for the final time before the big fight tomorrow night. Both fighters will take the stage and be weighing under 154pound to make the cut and maybe it into the ring tomorrow night. If all goes as planned, mayweather and mcgregor will say the same. In 24 hours, mcgregor is expected to bulge up to weight which would give him a 20pound advantage going into the fight overnight. Even with the advantage, sports books expect mayweather to walk away with his undefeated reputation intact. Most gamblers are backing mcgregor. Our average wager on conor is about 200. So all the smaller stuff coming on mcgreg gore. All larger stuff coming in on mayweather. Our average ticket on mayweather is 8,000 per ticket. Reporter 95 of tickets have been for the underdog. If mcgregor hands mayweather his ever loss, need sports books could be hit for the biggest loss nevada ever has seen, more than 50 million. Mayweather could get up to 400 million for this fight. Mcgregor, even if he loses will get five times more out of this fight he would have fighting for ufc. Cheryl. Cheryl Hillary Vaughn<\/a> live in las vegas. Hillary, thank you. David lets us talk you live to Corpus Christie<\/a>, texas where Hurricane Harvey<\/a> is intensifying. The eye of the storm is getting more intensified. Easier to see, in Corpus Christie<\/a> they have sustained winds up to 53 miles an hour. Gusts up to 68 miles an hour. These are just the outer band. The eye of storm will not pass over corpus until sometime later tonight. For that to be that powerful right now is very big danger signal. Cheryl there is a small town port oconnor right in the path of the storm. There is massive evacuations. David a lot more on the storm coming up right after this. Ems and could be on the journey to much worse. Help stop the journey of gum disease. Try parodontax toothpaste. More breaking news the National Weather<\/a> service is now issuing a Tornado Warning<\/a> for galveston, texas and for lamark until 4 15 p. M. Central time so thats 5 15 p. M. Eastern time, david. Obviously the path of the storm is heading right for that part. That storm by the way is the strongest hurricane to hit the United States<\/a> coastline in 12 years. We havent had a cat 3 storm in 12 years and there are all kinds of political implications could happen from this too. We all remember what happened with katrina. Everybody thought katrina was going to be handable and it wasnt. We had Michael Brown<\/a> on earlier of course he became kind of a national joke because of the way it was handled or mishandled. But Governor Abbott<\/a> in texas has been incredible. Hes been great. Today leading that state getting them ready. Were going to stay with it risk and reward starts right now storm surge has gone from a four to six feet to a possible 10 feet. With 10foot water height youll be cut off from the island and theres a good chance youve got that much water you arent going to have any electricity. So youll be on an island with no electricity, no air conditioning and no water, no anything so we are recommending in the strongest terms that if you live in those low lying areas, that you get out and you begin to get out now. 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