redecorate the white house when they move in. 57, $100,000. let's inflation. this is 1999 apparently. >> i am still going with a hundred. seems like -- stuart: so do our. to redecorate the white house. always right. 1800. $14,000. nowadays that is worth $340,000 adjusted for inflation. thanks for being on the show. president biden was supposed to deliver remarks on healthcare costs at 11:00 this morning, an hour late. that is it for varney and company. coast-to-coast with ashley starts now.

ashley: on cavuto coast-to-coast we are waiting for jerome powell's comments on the us economic outlook. markets are steady but willpower will shakeup investors. a powerful earthquake in taiwan. the very latest update

our top story, markets trying to find their place after a week start.

closely to share powell to see if he's taking a rate cut in june off the table. looking forward to july being the launch date. ashley: hikes, don't necessarily seem on the table. staying here for a long period,

and given the volatility assigned yesterday, not much has changed. interesting we have 75 basis points but entered the week with a market pricing around 65 basis points. what i want investors to focus on is few days of markets notwithstanding.

the plot showed, to lower rates. it is a 4.0%. having a justification. other views are being expressed. ashley: we talked about the recession is coming. was it going to be a hard

landing or soft landing. the us economy said clear of recession risks. we dodged a bullet bit, didn't we? >> i would certainly think danielle's point there is so much ways to interpret the data, economic conditions, the forward forecasting of the lo terms of the market and economic conditions and how that plays into the investment strategy and how they are correlated. right now what we need to focus on from an investment basis, more is on the fundamentals and

the upside to revenue growth. adam: you are going to stick with us, speak to us after we've heard the opening remarks from the fed chair and follow-up so thank you for that insight. i want to shift gears. the election at the economy. wall street journal paul has donald trump leading president biden in six key swing states. hillary vaughan on that story and joins us now with more. >> reporter: wall street journal forecast a storm

brewing for president biden in major battleground states he needs to win in november. the polls showed donald trump sweeping swings state support by single digits, beating biden between two and 8 points and pennsylvania, michigan, arizona, georgia, nevada and north carolina. the only state biden polls above trump in the polls is wisconsin where he has a three point lead. a test balloting included third-party and independent candidates. of the president was worried about this paul, the first lady is not showing it. >> polls like the wall street journal where he is losing the battleground states. >> is not losing another battleground states. he is coming up. or even doing better. >> a little worried? >> no, joe will be reelected. >> reporter: president biden is taking a victory lap on delivering lower cost of prescription drugs and

promising to do more yesterday. trump hit the trail in michigan and wisconsin, to hit president biden over the job he's doing at the border. >> i'm here to declare that president biden's border bloodbath, seal the border, stop the invasion. >> reporter: the big 2,024 question, will we see a debate between trump and biden? trump said he will debate biden anytime anyplace. the president has not committed to debating trump ahead of the november election. ashley: that will be quite a spectacle. i want reaction from gop pollster lee carter. swing states, the ones president biden won for the most part in 2020. >> we have seen this coming in president biden's key constituents, primarily independents but looking at other electorates, the hispanic voters, female voters across the board, taking ground with voters president biden carried in 2020, looking at the

polling, seems like there's a momentum shift on general polling, impacting swing states. swing states are close. within two points and the margin of error so nobody should take a victory lap right now. it's a consistent story the last six months, donald trump continues to win in swing states and that's the path to victory. neil: the number one issue in those swing states, certainly perhaps seven, keep wisconsin out of it for now but the economy. the economy is the biggest issue. how does that, depends what happens between now and the election. even though we were told about bidenomics, they dropped that term and people feel economic malaise. is that a warning sign for the biden campaign? >> i think it is an president biden is seeing people feel better about the economy. 's approval rating on it is still underwater and if you

look at the paul you just showed it's 3 quarters of american saying they feel bad about where the economy is but head to head on who will perform better on the economy donald trump wins 55% compared to 33 with president biden so donald trump has a clear advantage on the economy and inflation. the third issue is democracy and that is where president biden has the advantage. we are starting to see republicans are as concerned about democracy as democrats. they just view it very differently. ashley: interesting. they think about 25%. that's a high number, still undecided prefer third-party candidate. they are not thrilled with the third-party candidate but still undecided. how does that play out? >> one of the biggest none of

the above voters we've ever seen. i they going to sit out or choose someone? some voters say not voting this time is as much of a statement as anything else, not just throwing away my votes but i'm not happy with the choices i have so we might have voters that are different than we've seen before. there are a lot of voters interested in rfk junior, who his running mate is and what is platform will be. what's going to happen with no labels, who knows. when you look at the third-party candidates, starting to draw in biden supporters. interesting that rfk junior chose to be antiwar so he's getting pro-palestinian defectors from the democratic party as well. ashley: interesting.

trump's legal problems. if there is a conviction does that have a dramatic impact? >> a lot of people, if they were convicted, a lot of people say will have no bearing at all. 70% of americans say they believe this to a 2-tier system of justice, that these charges are politically motivated. one thing we've seen is enthusiasm increases when there is an indictment or court appearance and can't help but think the same should happen should he be convicted. people disagree with me on that but if people aren't buying into this, seeing they are politically motivated they will want somebody who will shake things up and 2 thirds of americans want a fighter who will shake things up because they believe the system is rigged and unfair and that's playing to donald trump's advantage. ashley: no matter what the

polls say, it's fascinating to follow on a day by day basis which we have a ways to go before the election. from a news point of view it's fascinating. thank you so much. coming up, there is tension brewing in the house of mouse as disney ceo bob iger's face will be decided in a proxy battle against an activist investor. we will bring you the battle after this. ♪ ♪

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ashley: he and his fellow officials are no rush to ease monetary policy. markets not reacting, still on the upside. it's very wait and see.

the fed chair saying not only is outlook on certain but risks on both sides. a reversal of the progress on inflation, with and with tighter policy. that's the fed chair speaking. no huge response so far on markets, the dow, the s&p and nasdaq modestly higher. let's get to the story. a mouse house divided. the battle for disney's future decided in a high-stakes board vote. kelly o'grady has the latest. what's going on. >> reporter: the shareholder vote will start at 1:00 pm. disney fending off an activist investor attack, two board seats arguing disney has dropped the ball on everything from studio performance to shareprice. it won't do much for company

overhaul but those voices could be meaningful. one of the most-watched changes in disney history. they launched a campaign listing the endorsement of popeye profile shareholders, george lucas, jamie dominant a few of those names. huge sums of money, disney per the $40 million on this. mouse expected to win likely and due to the major turnaround the stock has seen this year close to 35% year to date. it is worth 40% more than when he announced the activism push and activists say that this has been good for stock. >> i support bob iger, also glad nelson francis stirred the pot. that's been good for the stock because it exposed the faultlines. it has been positive. >> reporter: big improvements needed. the company needs to make good

on its promise for a cost-cutting plan, put your profitability in the streaming division and returned to quality content the brand is known for. even if disney wins, if it's not a landslide, the scrutiny doesn't go away. next time earnings disappoint, a long succession announcement, the vultures will come back. ashley: they will indeed. strategic wealth investment strategist luke lloyd to talk about it. disney has been struggling with viewership and the box office and various networks and streaming platforms. if bob iger wins, what changes. >> it looks like iger will be the winner but this isn't iger or disney, this is about individual investors ruffling feathers when it comes to corporate governance and control of assets and stocks,

democracy is failing us for multiple angles, the little guys from a political standpoint, if you with deep pockets get what they want from political elections and very few with deep pockets do what they want as well. this is known as passive investments that are destroying democracy and the stock market. they are using our money to make corporate decisions for us. if you are an activist investor or shareholder company you need to get what you want. once they announce they sided with iger, this ends up costing money. activist investors are projected to spend $40 million to sway votes their favorite. these costs get passed on to the consumer, the little guy. it's good these corporate battles for the long-term, the question, is the pendulum going

to swing from one side to the other? ashley: nelson peltz has solid points. the return from disney has been poor, box office flops, problems with streaming, no succession plan for bob iger. he should leave. in 26 his most recent contract. >> reporter: disney forgot their product under iger. he was the first component to push us down this agenda. they lost the brand of family values. disney plus was away to push their shows and content in one spot to get excited around the brand, when you get people angry about that brand, pushing political ideas onto you, you lose subscribers. and they raise prices, not a great business model.

they are in this middle area where they convince 50% of america, in business 10% of people want to work with you, 10% of the population, your goal as board of director at our company, 80% of america to come to your business, with shareholder value to get. ashley: disney always had the midas touch. what has gone wrong with their box office? why so many flops? is it just getting the wrong, you know, not understanding what the audience wants? >> more about content fatigue. so many options in today's world, disney plus or netflix, what movie to watch, what show to binge watch.

a lot of people between cell phones, daily jobs, computers, going home, turn on the screen, we spent 6 or 7 hours a day in front of the screen, people are content fatigue it. younger generations are addicted to their cell phones or screens but eventually you get exhausted. that's what is happening and why they've got to focus on their parks. 70% of profits come from their parks. we've got to focus on their amusement parks. of their brand is not driving people there they won't make the money anyway. ashley: terrific insight. thanks for joining us to give us your take on disney. thanks, great stuff. and update on the devastating earthquake that hit taiwan. live report after the break. s! starting a business is never easy, but starting it 8 months pregnant... that's a different story. i couldn't slow down.

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ashley: at least nine dead and 900 injured after a powerful 7.4 magnitude earthquake that rocked taiwan, the strongest earthquake to hit the island in 25 years. >> we been tracking these images, quite astounding, the area is used to earthquakes but the shook a lot of people up,

it hit the eastern coast of taiwan. the damage was dangerous from the main city hit by the tremor and collapsing a precarious angles. happened at rush hour catching a lot of people out, the team struggled to find survivors. 100 people remain missing under the rubble and road tunnels hit by landslides. and 90 miles away. and and a big military presence offering any assistance, some of taiwan's fighter jets damaged in bases.

electricity has been restored, crucial semiconductor industry in taiwan wasn't disrupted by the tremors. a lot of people still caught out right now in this disaster. ashley: remarkable images. appreciate that. as taiwan deals with a natural disaster janet yellen heading to china and there are signs the biden administration moving forward or toward trump era tariffs including electric vehicles, it would probably raise them, rebecca heinrich joins me now, treasury secretary yellen goes to a southern chinese city to meet with local officials and beijing. always lots of talking.

do you expect much to come out of this. >> he is the one who is going and taken a different tone than previously taken. she is the quintessential china dove in the biden administration's cabinet. the chinese officials have a consult reapproach to the man is symbolic of decades ago when the united states opened up, traded with china and thought as china became enriched and tied to the global economy and brought cheap goods to the united states of america that would be good for china and americans. we know it gotten american manufacturing, enriched china but rather than liberalizing the government china is marxist low month -- adversarial towards the us-led order of which trade is good, and good for everybody in a stable environment.

and opposes it and 0-sum game. ashley: what is interesting is an ongoing problem and to your point china has been propping up its economy about flooding the world with cheap exports. janet yellen will tell them don't do that. >> reporter: is counterproductive for the united states and the chinese communist party. even with tariffs on electric vehicles and additional tariffs, the chinese are able to produce electric vehicles at half of that. and extremely cheap labor.

and genocide camps of the weaker muslins and china is using inhumane practices to gain advantage when it comes to electric vehicles. ashley: it is talk talk talk, will china cut back on its excess capacity when it comes to exports? i don't see it. >> i don't see it at all. the biden administered in has several priorities at cross purposes and each undermine each other. they prioritized the climate change agenda. president biden called the most essential threat to the united states. if that's true, you're going to create policies that prevent the united states from taking advantage of our own oil, and raises inflation, americans can't afford what is necessary

to buy these electric vehicles. and the chinese, this party is getting enriched by this policy. the administration has to settle where is incoherent, what this president or the next president does, the american consumer has been so backwards, manufacturing trade policies, enriched our adversaries, not easy for the united states and it's going to create more tensions for the united states. ashley: telling it as it is. appreciate your insight. jerome powell, we've been following along with the state of the economy but the market is not reacting but we will talk to our market expert next.

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than just a bump, don't expect it will be appropriate to lower policy rate until we have greater confidence 2%. given the strength of the economy will have time to that incoming data guide our decisions and policy. ashley: let's get reaction from our panel, chief strategist danielle martinoh and senior vice president nicole webb. thanks for sticking around. the fed chair saying it will take a while to figure out where we are with inflation but we are in no rush to do anything now. >> he came across from a balanced perspective and assured us the outlook had not changed.

i think most important for investors we need to focus on the strength of the economy is buying the fed time to collect more data and that is a positive things in terms of creating this forward-looking pathway, getting closer to the eve of the first rate cut and it will take data to support it. ashley: the reaction is muted and it is uncertain. can't grab onto anything right now. same as you are, right? >> i would point to the fact that bond yields are lows of the session. there's been some calming on the side of the treasury market. it intriguing to listen to powell taking pains to be a political. he shrugged off a notion of the

fed becoming embroiled in climate change initiatives which is saying something in california, he channeled milton friedman, said there would be no risk-free path, no free lunch in terms of whether the fed waits too long to begin cutting rates and spoke to immigration, the budget office revised upwards, us population growth by 3.3 million, he said that's a significant effect on laying slack in the labor market, he refused to speak honor -- we call balls and strikes as we see them. a nice job. ashley: very good. my own family, still expensive when it goes to the grocery store, cost of living is still high. if you keep wanting prices to

go lower and lower you start raising the specter of disinflation and that could be dangerous indeed. >> we throw around the word consumer as if it is all encompassing everybody. what is alluded to often, when talking about the bumpy path and pockets of reacceleration, the concentration of wealth is not necessarily rate sensitive and we've seen that play out. the market is coming into balance and seeing areas of disinflation as we ease back. it doesn't mean all consumers are feeling the same way day in and day out and that continues to be the plot line for a while. ashley: let me put you on the

spot, there's a growing belief, rate cuts on the fourth quarter, difficult to predict, what do you think? >> a bit of a stretch unless there's a significant decline. we will find out friday. chair powell does not have friday's jobs data in hand until tomorrow but it's a stretch to say unemployment will decline from 3.9%. 1/10 of one percentage point, more likely we will see something by july. ashley: wish you will find out, terrific stuff. thank you for your insight help today. talking high prices, oil prices at a 5 month hires opec plus has output policy and changed. they are feeling more pain at the pump with gas prices on the rise.

jeff flock say it ain't so. look at the weather. >> reporter: i wish i could convey the weather in philadelphia but speaking of unpleasantness, there may be some at the pump coming soon. not bad right now if you look at the numbers. the average a gallon of regular is $3.54. that up only a penny but is up $0.20 in the last month and rising steadily for some time and gas prices are underpinned by oil and there' s news from the government and the strategic petroleum reserve. the biden advanced ration has tried to replenish that after draining it to not completely drain it but to the tune of 100 million barrels to try to bring gas prices down which they did

to some degree but they are having trouble getting oil back in because oil price is very high. today, it hit $86 for the first time in long time and they say they are not going to buy anymore, last month, $81, they don't want to spend that much, not buying 85, 86. take a look at the numbers, 638 million barrels from president biden taking office, 363 million. not a good time to be low on spr. the folks, think oil prices go higher. opec confirmed it is not going to move away from production cuts, the iran consulate with concerns about the middle east,

sanctioning their oil again and ukraine has been hitting russian infrastructure with the drone strikes, with threats out there, the greatest is the middle east. >> if the strait of hormuz, 20% of the world's oil is transiting every day, and oil prices spike $30-$40 a barrel which is a significant one dollar per gallon increase in gasoline prices. >> another gallon, to get peoples attention. the fancy gas premium already 599 in philadelphia. ashley: are you hearing some grumbles from drivers there?

>> reporter: they are grumbling about the weather but everybody notices. most people drive. everybody notices. everything else is going up. gas goes up -- ashley: jeff flock does his best with a mary poppins impersonation. costco numbers, with popular weight loss with ozempic but new research reveals the litigations may not be worth it, we will take a closer look after the break. ♪

ashley: oh ozempic coming to costco near you offering

exclusive pricing on the blockbuster drug to its members when they sign up for the weight loss program. some evidence coming out now the price of the drugmaker your base -- make account more than your waistline. time to bring in doctor marty makary, at fox news contributor. we continue to hear reports of people not doing so well on these drugs, they become nauseous or simply don't lose any weight at all. >> reporter: these drugs are mimicking hormones that are normally in the body and they slow the g.i. system down and cause crampy abdominal discomfort and that the side effect, of 3 months or so transition period many patients describe and it can be tough. they can stop it altogether and that is why 18% of people who take the medication have 0 benefit because these

complications aren't real. ashley: in other cases people will lose weight initially and plateau and don't lose any more. is that very individual. >> i would like to see more access of these medications. would also like to see more people taking them under the care and direction of a physician. is not simply an antibiotic you take for a urinary tract infection, you get the drug, take it and you are done. this is the sort of thing where you have to see how it is going, adjust the dose and you've got to weigh the downside of these drugs of frailty. lose muscle mass and that something drug companies are working on right now. how can they prevent the loss of muscle mass.

another company working on the muscle wasting but that the concern right now. other companies like abbott is coming up with a line of protein shakes for people on these drugs for protein intake. ashley: it's not a weight loss drug. is prescribed for people with high a1c numbers, diabetes, and it is a nice one, and the diabetic levels, but not a weight loss drug per say. >> reporter: the study shows it works for weight loss but the fda label is for those with diabetes or metabolic syndrome and obesity. it works in general for weight loss, the problem is it is not

perfect solution. that is why people get the ozempic face because they had muscle wasting in their face. the number one predictor of longevity is muscle mass. we may be trading one downside for another in converting people with obesity to another drug that results in muscle loss. ashley: there will be more to say. everyone is looking for the magic pill. thank you so much today. very good indeed. the market is not reacting to the comments on jerome powell saying in no rush to cut rates. that doesn't for cavuto coast-to-coa