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[national anthem] rachel: wow. good morning, everybody. it is 6:00 in new york city -- pete: out of cats. rachel: i just love all those patriotic kid photos. i actually think we should do one with just kids. good morning, will, good morning, pete. pete: good morning. good to have you back. rachel: thank you. keep sending those pictures in, everybody, especially kids. we love those kid pictures. will: that'll be in the coffee if table book. a kids' section, a dog section, not a cat section -- [laughter] and a military section. rachel: cats aren't patriotic. they're just so into themse...

Don't remember the '70s and, you know, the energy crisis that we had. unfortunately, you know, i'm old enough to remember them very, very well. and the effect of rising interest rates. in other words, if the federal reserve starts hiking rates, does that slow the economy down, does that have the desired effect for some that will see some of these oil prices slide as well? >> well, certainly higher interest rates translate to the consumer and higher mortgage rates, higher interest rates on car purchases, and that leaves less disposable income for other things. but what we see right now is infla...