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Panama city, florida. rick leventhal is in panama city with the very latest. rick? >> neil, this town just got absolutely slammed. everywhere you look, there's trees down, snapped in half. this is a park where at least 70, 80% of the trees came down. if you look down that way, you can see they came down on power lines. some houses as well. come back around this way. i want to show them this one street in this one neighborhood. a lot of neighborhoods that look like this with roads completely blocked and trees down on homes. there's hundreds of streets in this one county alone that are blocked b...

>> yeah. >> congress has always done that. >> larry? >> yeah. exactly. congress has always done that. the danger right now, we have a december rate hike priced in. if we don't get the inflation needed, which we're not, policy rates will be higher than what they are. so we'll have a lot of questions. you know, even the president can't fight the fed. >> neil: is there a danger with putting him on the spot? no matter what they do now, they're going to look, they eased up on hiking because they're afraid or they went aggressively because they -- >> this is -- neil, this is a completely independent...

Is a big problem with me. even volunteers that i'm not going to fire the guy but i'm not happy, talking and jerome powell. what is he doing? >> there's no danger. washington is a historical town. i was told at the white house, there's two issues we don't comment on. one is interest rates and the second is the dollar. we don't talk about it at the white house. and then i asked why not? because that's the way it's always been done. that's not the right reason to do something. so when president trump comes along, he breaks traditions. there's an upside to it. the upside is he's blunt, plain spoke...

Mirror opposite of what he said when he was running for president, the economy and the fed were rigged, the rates were artificially low. i want you to react to this from candidate trump. >> they're keeping the rates artificially low so the economy doesn't go down. so that obama can say he did a good job. that's the only reason that the rates are so low. shoe they're keeping them artificially low so obama can go out and play golf after january and say that he did a good job. it's a very false economy. we have a false economy. >> neil: what he was saying, we weren't at natural equilibrium for ra...

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