it the redacted mar-a-lago affidavit. what it means. i'm shepard smith. this is the news on cnbc. classified documents that should never have been in americans home. fears the spies could've been compromised in national security damaged. now, the new calls to assess the harm to the nation. the fed share, blunt and pointed.rates will continue to go up to control inflation, even if that puts people out of

work. comments from chairman powell sending all sectors of the s&p lower. full cnbc coverage. the secret service recovers more than a quarter billion dollars and stolen covid relief money, cash that was supposed to help struggling small businesses. tonight, the billions more lost to thieves. marking one year since the attack on u.s. troops during the botched withdrawal from afghanistan. eyeing a return to the moon with the artemis rocket set to launch. moderna sous pfizer in a battle of patent protections. britney is back and topping the charts. >> live from cnbc, the facts, the truth, the news with

shepard smith. good evening. the classified documents stashed at mar-a-lago were so sensitive that the fbi feared in the wrong hands, they could expose human intelligence sources. in other words, spies who were helping the united states, and the feds needed to get those documents back, and fast that is just one of the big revelations from the newly released affidavit from the search of the former presidents florida home. it lays out the fbi's justification for taking such drastic, unprecedented action. it is heavily redacted but does provide new insight. the affidavit describes the federal government month-long battle to retrieve the trove of classified material that mr. trump took with him to mar-a lago when he left office. some of those documents were at the highest levels of classification possible. the kind of documents that need to be stored in a supersecret government facility, not in a private resort club. the affidavit reveals the justice department he came alarmed back in january, when

mr. trump turned over 15 boxes of documents over months of government pressure. in those boxes, the fbi found 184 documents with classification marking, 25 of them marked top-secret and the feds knew that mr. trump still had more classified material stashed away at mar-a-lago, according to the affidavit. in the request for the search, fbi agents told the judge there was probable cause to believe mr. trump still possessed classified national security documents that he was refusing to give back. the feds said there was also probable cause to believe they can find criminal -- evidence of criminal obstruction during the search. the big questions that remain are, why did mr. trump want these documents? what were these documents all about, and why did mr. trump insist on keeping them, even when the government demanded them back? we will have analysis from a

former federal prosecutor. >> the doj said that they had to redact all that information to protect the multiple people helping it as well as the investigation, itself point in a separate filing that was also unsealed today, the justice department cited the safety and privacy of a significant number of witnesses and law enforcement personnel who said they could face intimidation, harassment, even threats to their physical safety is identified. the justice department also warned that the affidavit is complete with details that can provide a road map for abstract information. the fbi was worried that if someone of this information became public people might try to flee. trump dismissed this news as a political attack. a newly released letter from his attorney shows they argue that trump demonstrated good faith in turning over those 15 boxes of paper back in january.

they also claim he has the authority to declassify information on the law prohibiting the removal of those classified documents does not apply to him. today, president biden said it's up to the doj to determine if there was a national security risk at mar-a-lago but that he has a special place at his home in delaware for sensitive material like his daily briefing. >> i have in my home a space that is completely secure. i'm hoping to take him today -- >> today they're asking for a damage assessment of any mishandled information at mar-a- lago. danielle. now, former district attorney for the attorney general of new

york. the doj mentioned there is a significant number of civilian witnesses they want to protect. what should we read from that? >> i think it is notable, because this was a case where doj was not going to be satisfied, was not going to barrel in there without overwhelming proof that in fact, there were national security documents on the premises. we have heard in public recording about some of the evidence that doj had, including surveillance video, including having meetings with strom's lawyers. know what we are hearing is in fact, they had a number of witnesses who surely have first-hand information that in fact, not all of the secure documents or the documents that should have been secured were returned back in january of this year. so, it is significant because i think there are multiple

witnesses. they are not your typical law-enforcement witnesses who you could argue are biased. these are people who have come forward and are clearly insiders and in trump's inner circle, and they felt compelled or were in fact compelled to provide this information to support the affidavit. >> in reading this affidavit, does it look to you like the justice department exhausted all other options before seeking the search? >> of course, a lot of it is rejected and so we don't have all the information of what doj did, what steps it took, but that is one of the things that the federal magistrate judge would have had to satisfy himself, that all other steps were taken. so like i said, a lot of it has been redacted. we've heard public reporting about multiple meetings,

including a grand jury subpoena, including acquiring surveillance video from the premises, so all of that would have to be laid out in order to assure the judge that less intrusive means has been attempted and have failed. >> danya perry, thanks for your time tonight . it was a brutal day on wall street.every major index posting a sea of red. the dow closed down more than 1000 points, the worst day since mid june. s&p down 141. it is off more than 10% this year. the biggest loser, the nasdaq closed nearly 4%. the markets went into freefall after the fed chair, j powell, warmed more rate hikes are coming. today, he delivered a speech in jackson hole, wyoming. he said the fed will have to get

more aggressive to get the near record inflation under control, but he warns that will come at a cost >> there will very likely be some softening of labor market conditions while higher interest rates, slower growth and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. these are the unfortunate costs of reducing inflation, but a failure to restore price stability would mean far greater pain. >> softening of labor market conditions. in people speak, jobs will be lost, people will be unemployed. fed officials have seen some encouraging signs that inflation is easing. the labor market reports consumer prices jumped 8.5% last month from a year ago. that is a hair lower than the 9.1% year-over-year in june. in a moment, cbcs dominic on the bloodbath.

first, steve liesman injected whole. >> it's hard to quantify, but there has been this lingering question. what would the fed do if we were really in a recession? normally if the economy declines meaningfully the fed starts to help people by cutting interest rates. they reacted very quickly when the pandemic hit ringing interest rates down to zero just a few weeks into the pandemic. powell said today sorry, folks, inflation is such a big problem were not going to be able to help out this time. he is saying the unemployment rate may go up. the economy may contract but the fed is going to have to keep raising rates or keep them high because the outcome will be worse if you let inflation

smolder. the markets got a sobering message today. there is a level of pain the fed is willing to take to fight inflation. >> some economists have said there have been recent signs that inflation has peaked. what is powell's view on that? >> some of the hottest items that have driven inflation, oil and gas, those prices are down. commodity prices are down and those declines are going to show up we think in the consumer price indices ready soon, and that the supermarkets obviously. but, it is not those prices that have spooked the spit fed. broad-based pricing throughout the economy is what has them worried. service prices are rising. housing pricing and personal care were standouts to the fed. the fed's message is pretty clear. not enough to stop the rate hike trained and one official yesterday told us that she needs to see three months at least of inflation coming down before she is confident that it is moving back toward their 2%

target. we use the number 8 1/2% before. two is the target. >> steve liesman live lesson jackson hole. let's turn to market correspondent, dominic chu. the s&p is down 4% on the week. do you see the markets retesting lows here? >> that is the key question right now and the reason why a lot of folks out there are trying to figure out whether today's down move is the precursor for something bigger, to retest those lows that we saw earlier this summer. to put all this in context, we are going to put the nasdaq and posit up there. the technology stock trade has been them epicenter of volatility. where we stand right now from the records that highs we saw last fall, we are down roughly about 25% from those record high levels. if you take a look at where we are from the lows here, we are

still up about 15%, so this is a territory where we are still in that so-called bear market, but we are not yet testing those lows, so the key will be whether or not some stability can be brought back. one place traders are keeping a close eye on is consumer trade and steve alluded to it in the previous segment.right now, everyone is watching inflation and whether the consumer spending picture can hold up .here is one chart that lays out how bad it has gotten for certain parts of the consumer market versus others. the white line is consumer discretionary stocks, the stuff we can buy, that we want to buy, not the stuff that we nee . meanwhile, the orange line up top is the consumer staples trade. cereal, toilet paper, dish soap, diapers. those companies have actually done pretty well given the market downtrend. they are still only down about 4% on the year versus a 22% client for those discretionary stocks and that gap is something a lot of traders going to be watching.

one place to keep a close eye on is the health of the overall economy. one thing that could tell you more about those prospects would come in the high-yield or junk yard bond market. these are companies that may not have the strength to weather an economic downtrend. watch this right-hand side, whether these companies and these bonds doers, that will tell us something about prospects for a recession down the line. >> we will see what monday brings. the nfl season kicks off in less than two weeks, but a disturbing new allegation is rattling one of the league's top teams. what we are learning about the player accused of a serious crime, and how he has responded. plus, criminals fleecing the u.s. government for hundreds of millions of dollars in covid relief money. what the secret service just did to get some of it back.

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a accusation casting a shadow over the nfl tonight just two weeks before the start of the new season. the buffalo bills ricky starr and two of his former college teammates accused of gang a 17 year-old girl just last year. that's from a civil lawsuit filed in san diego county. the incident allegedly happened at san diego university. please have not made any arrests or publicly identified any suspects. matt araiza's lawyer calling the allegations false. he said an investigator he heard spoke with witnesses contradicting the claims. his lawyer told the associated

press his lawsuit is quote, a cash grab. a warning now, the allegations are disturbing. >> in the civil complaint filed against joe kernen and two other men, the 17-year-old girl referred to as jane doe said she was at a party in matt araiza's home. in the complaint, the girl is intoxicated as she arrived and matt araiza handed her a drink believed to have other intoxicating talk substances. he led her into a bedroom and went in and out of consciousness as she was being for about an hour and a half. she left the room but letty and crying. her body piercings had been pulled out and she was bleeding from her regina. she went to the police the next day. >> as a father, i would like to see people who did this to my daughter held accountable. >> when a young woman gets at 17, she doesn't forget about it.

>> today on twitter, gilly and releasing her diary entry from the day after. later writing i saw/come on, maybe someone recorded, and allegation that is also in the civil complaint. araiza saying in part, i had a private investigator get on the case right away. i do 100% not believe that matt araiza rates this girl or her while intoxicated. araiza is named pants god for his kicks. he was drafted last year. a spokesperson said they were recently made aware of the civil complaint and conducted an investigation for this matter. a spokesperson for the nfl that they are aware of this matter and declined to conduct comet. other players for the nfl have been suspended over allegations of sexual assault.

both men deny allegations. what separates araiza's case is the allegations are from his time before the nfl. >> because it happened before araiza was drafted before the bills, the nfl can do nothing about it under the personal conduct policy. if you would ever get in trouble in the future he could have expedited or enhanced punishment because of this. >> the bills have their final preseason game tonight. he is not playing. the girl's family has been in therapy for the last nine months. the secret service recovering $286 million in stolen covid relief money that was meant for struggling small businesses during the pandemic .officials say it is one of the largest financial crime investigations that the agency has ever undertaken. federal investigators say the thieves used thousands of stolen and fake identities to

rake in pandemic relief loans in a sweeping and ordinate its game. unfortunately, it is just a drop in the bucket of billions of dollars of covid relief money that fraudsters stole. kate, how did the secret service track down this money? >> the secret service had more than 15,000 accounts used in this multimillion dollar conspiracy by individuals in the u.s. as well as domestic and transnational organized crime rings. the suspects used green.bank to hold and move the fraudulent fans. investigations initiated the majority of the accounts were established with fake and stolen identities and willing or unwilling money mules. >> i think fraudsters, in general, are always looking for ways and techniques to better do their crimes. modern conveniences are just one of those things they use. currently cryptocurrency is a

big thing. third-party payment systems, but there is not an institution, even our traditional financial institutions, that were not targeted during the pandemic.>> advisories were sent out from the small business administration's office of inspector general to 30,000 financial institutions in early 2020 to layout fraud indicators and to encourage working together to catch these criminals. that led to green dot working with the agencies to recover these funds. further information on the suspects has not been released. investigations will likely last years due to the size and scope. criminal charges have not yet been announced. fraud has been rampant in pandemic aid programs. $87 billion of potentially fraudulent loans have been identified over the past two years. the secret service says it has seized over 1.4 billion in

fraudulently obtained funds and assisted in returning some $2.3 billion to state and interment unemployment programs. there is a legal battle brewing between america's top covid vaccine makers moderna announced today it is suing pfizer and its partner for patent infringement. moderna claimed that those companies copied its two technology, and that they have been using it without permission. in a statement, but are the ceo wrote we are filing these lawsuits to protect the innovative mrna tech algae platform that we pioneered, invested billions of dollars in creating and patented during the decade preceding the covid 19 pandemic.room but moderna reports it does not want pfizer and biotech to remove the vaccine from the market and it does want those companies to

pay up for taking several key features of its shot. officials at pfizer's responded today, saying they will vigorously defend themselves against these allegations. more heavy rain and floodwaters pounding parts of the gulf south, the new urgent warning from the mayor of jackson mississippi.

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there is more widespread flooding in the deep south. in mississippi, the mayor of jackson is telling residents to pack a bag. the big concern there, the pearl river. two years ago it overflowed and parts of the state capital were underwater. in a news conference today, the mayor warned residents they should be ready to leave within 48 hours. >> we are trying to give you this timeline so that you can prepare as soon as possible.

if you were one of the early impacted communities in 2020, it is likely that you will be one of the early impacted communities in 2022. >> the jackson mayor says floodwaters could start overlaying neighborhoods as soon as sunday. the national weather service reports the pearl weather river will continue to rise until tuesday. more than a dozen people hurt after riding a roller coaster at six flags, according to officials. it happened last night at six flags great adventure in jackson township, new jersey. this is the scene near the el toro roller coaster. park officials say the 19 story wooden ride malfunctioned at the end. they say that is when people got hurt. some of them said they ad back pain. first responders to people to the hospital for medical staff treated and released them. officials at that six flags shut down the right. they say workers will repair the roller coaster and send in inspectors before it reopens.

el toro has the steepest drop of any coaster in the world. the incident still under investigation. europe's largest nuclear plant on the brink of a potential disaster this week. today, word from ukrainian officials on whether it is safe as russian forces continue to hammer civilian targets in the eastern part of the country. from apollo to artemis, as nassau gets ready to launch a test mission around the moon. we will show you the progress made since the apollo missions and talk with the man responsible for the program to responsible for the program to nasuastronauts back on t when we started selling my health products online

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now we're shipping out orders 5 times faster and we're saving a ton. go to shipstation.com /tv and get 2 months free. the price tag on a popular electric vehicles going up, and that is what is topping cnbc's on the money. ford hiking up the price of some models of the elect rick mustang mach e. markets could be as much is $8500. according to ford, continued supply chain and significant cost to make the batteries. the wave of unionizing efforts hitting chipotle in michigan. workers there voted in the parking lot yesterday to form a union. two months ago, workers filed

for union election at an outlet in maine but the company closed that location shortly after, citing staffing issues. they did it. oscar meyer introducing hot dog flavored ice pops. the frankenstein frankfurter cold dogs, complete with a squiggle of mustard. the idea began as part of the company's stupid or genius marketing campaign. oscar meyer billing it as a wonderful, odd way to enjoy a hot dog. hard pass. today at the pump, the average price nationwide for a gallon of gas, $3.86 the cost down 73 state days and counting. still, a gallon will run you $.72 more than it did this time last year. on wall street, as we reported earlier, the markets tanked. the dow down 1008. s&p down 141, the nasdaq down

for 98. i'm shepard smith. on cnbc, it's the bottom of the hour. time for the top of the news. today marks one year since the deadly attack at kabul airport as the u.s. pulled out of afghanistan. 14 american troops killed that day. how the country is honoring their sacrifice. is more employees return to the office, summer working hard to coast for their careers. sharks hank star kevin o'leary weighs in on the quiet quitting trend. first, nasa gearing up for the next phase of lunar space travel. it's biggest, most powerful rocket ever on the launchpad at kennedy center now. as the agency prepares to light the candle on monday morning and send artemis one around the moon and back. it is the first mission to the moon since the apollo program nearly 50 years ago. in greek mythology, artemis is the twin sister of paula. in a moment, we will speak with

jim free, the head of nasa's program to return humans to the moon. at first, how far we've come since the first apollo missions. things are a little more updated now. for example, this is the old apollo spacesuit, and here's the new version for artemis. these suits have cooling technology and can keep astronauts alive on their own for six days. the new orion capsule is bigger. four astronauts can fit inside. apollo could only hold three. ryan also has exercise equipment, even a compact toilet. nbc's tom costello spoke with both the artemis and apollo flight directors about how far we have come. >> reporter: step inside one of the most iconic symbols of america's space program, nassau's original mission control, restored as a museum down to the ashtray, rc cola can and slide rule. to that day in 1969 when apollo

11 landed on the moon. nine months later, the drama of apollo 13 played out here. >> okay we have a problem here. houston, we have a problem. >> reporter: what is it like to come back and see this in stand here now? we asked apollo flight directo , 90 years old, to come back. >> it's what the spacecraft is doing, what the systems are doing. >> it is hallowed ground for you walk in here and still have memorabilia on the wall that reminds you of these accomplishments these guys did and apollo days. >> reporter: the lead director for monday's artemis mission to the moon. >> when these guys did it, nobody had done it before. we are writing on their shoulders because they figured it out for us. >> the physics has not changed.

so, a lot of the things are different. the tools are different. >> reporter: newton's laws of motion are the same, but technology has come a long way since 1969. >> reporter: there is more computing power in my cell phone then you had during the apollo days. how did you do that? >> well, that is all we had. we did with what we had. we didn't know what we didn't have. >> my generation looks back at what they accomplished and wonders how they did it. >> reporter: in 1965, they ran every apollo mission out of here, every moon landing and then they ran skylab and shuttle missions, enclosing the loss of challenger. today, an updated mission control runs the space station and the upcoming artemis moon mission. >> we learned from their generation how to plan a very complex mission, and how to go and train it. that is the big part. we train it. >> reporter: a new generation planning to return to the moon and stay with a nod to the

apollo team that made it possible. for the news, i'm tom costello. >> jim freeze with us now, the associate administrator for exploration systems development at nasa. he is also part of the program to return chris to the moon. jim, great to have you. no crew on this test flight, obviously, but if it all goes well, what is your number one priority for this mission as you put the spacecraft through its paces? >> three objectives we have. to test the vehicle, which includes getting it into orbit, to test the heat shield when the capsule comes back, and to recover the vehicle. we are going to push the vehicle further than we would with crew on there so we really exercise the systems. if we accomplish those three things, our mission is done. >> also reports this is all part of an effort to eventually

create a permanent base on the moon. is the gold have astronauts of their 24/7? >> no, we would not. our goal is to get for four crew members down to the surface for 30 days. that is what we are planning because then we get the maximum use of the systems we eventually need to go on to mars. we need to test them in the partial gravity of the moon and then we are hoping that other international and commercial entities come with us to expand that base. they can use the base for their own purposes, but 30 days on the surface for four people is our goal. >> there have been some cost overruns and scheduling delays in the artemis program, but assuming all goes well with this mission, how comfortable are you that they will have astronauts back on the moon, let's say within three or four years. >> if we do well on this mission and the chief those objectives, we will be able to get there. we are hoping our target for a

crew on the moon is 2025 and in between now and then, we will slay a crew around the moon, much like apollo 8, to test out the vehicle with crew in it before we try to go down to the lunar surface, so our target is 2025 we have tested this vehicle on the ground as much as we can, and our next step is to really put it in orbit and put it through its paces there and the next time get it ready for crew. head jim free, cannot wait to watch it all happen. thanks so much for your time tonight, and good luck. an american city, a citizen fighting in ukraine has died. that today from the state department. officials have not identified the victim but say they are in touch with the family. the state department has urged americans to get out of ukraine immediately. meantime, europe's largest nuclear power plant in ukraine back on the power grid and

supplying electricity to the country according to ukrainian officials today. as we reported here last night, the plant disconnected from the national power grid yesterday for the first time in his 40 year history. ukrainian officials say engineers were able to restore the damaged external powerlines after shelling hit infrastructure outside the plant. ukraine and russia are blaming each other for the attacks. mainline, russian military is set to get bigger. yesterday, putin signed a decree that increases the number of active duty service members by 137,000 to boost the overall number of russian combat troops to more than 1 million. the announcement came today after putin's defense chief acknowledged the russian invasion has stalled. the pentagon and the white house remembering the lives of these men and women killed in kabul during the final chaotic hours of the u.s. withdrawal from afghanistan. it was one year ago today for the nicest suicide bomber attacked the abbey gate outside

the kabul airport. that is where thousands of desperate afghans gathered, hoping to catch one of the last u.s. flights out of the country. 13 u.s. service members killed, more than 170 afghan civilians dead. the president's chief of staff called it the darkest day inside the biden white house. these are the americans the attackers killed, 11 marines, a soldier, and a sailor, several of them just 20 years old. in a statement today, president biden called them all heroes who work to save lives. he wrote in part, i am praying for the families of those 13 fallen warriors who lost a piece of their soul one year ago. nbc's pentagon correspondent spoke with some of the servicemembers who were there that day. >> those marines made a huge impact to plenty of marines around them, they were role

models. >> reporter: chief foreign offer sasha savage was there in kabul last august, leading a team of female marines, their assignment, searching the women and girls arriving at the airport.>> it is hard to see that from like an outsider looking in. people are trying to get to you so they can move on and get to a safer place. >> reporter: the mission a heartbreaking one form or in gunnery sergeant zachary. a father himself, he says he became emotional seeing a young mother with her infant child being crushed by the crowd. he is the marines seen in this now viral video, lifting the 16- day-old afghan boy up over barbed wire to safety. >> reporter: what was it that made you say i need to reach out and help this infant? >> i think it just strikes a nerve. you become empathetic and try to put yourself in their shoes. being deployed there and how things ended for them, it was just a moment that i would hope if that ever happened to me,

somebody would do the same. >> reporter: the mission, as upsetting as it was dangerous. the pentagon concluded that a soul isis, carrying 20 pounds of explosives got past the taliban checkpoint and detonated his suicide vest. it would become one of the hardest days of joe biden's presidency. >> do you bear any responsibility for the way things have unfolded in the last two weeks? >> i bear responsibility for fundamentally all that is happened. >> reporter: defense secretary lloyd austin today in a statement asking all americans to pause in solemn remembrance of the lives lost that day. >> those marines did make the ultimate sacrifice but they did that doing what they love. >> reporter: despite the heartbreak felt on today's anniversary, both marines told me they still feel a tremendous amount of pride about all the people they were able to help during last year's withdrawal.

>> courtney, thanks very much. quiet quitting. good for the soul but bad for good for the soul but bad for artaeconomy? these folks don't have time to go to the post office they use stamps.com all the services of the post office only cheaper get a 4-week trial plus postage and a digital scale go to stamps.com/tv and never go to the post office again.

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the color quite putting. the work trend does not actually involve quitting at all, just doing a lot less. like working overtime? no thanks. some workers are you it is about finding a work-life balance. others don't see it that way. in a recent post on linkedin, arianna huffington wrote quiet quitting isn't just about quitting on a job, it's a step toward quitting on life. our next guest agrees. mr. wonderful is here, kevin o'leary, cohost on shark tank and chairman of o'leary ventures. i product of unemployment or

long-term thing? >> you know, the economy is changing. obviously we are going into a whole new metric where some people work at home, some people go back to the office. we don't know how it's going to shake out in the long run. it is more project based.in other words, you're hired in your tested to finish things off. some ideas are bad ideas and some ideas are stupid ideas, but very rarely can you combine both and that is what we have here. this is the dumbest idea i've ever heard in launching a career and what i'm hoping i can do, and i've told the recruiters, as i've got about 10,000 people in the companies we are investors in, plus these investor chains. i've asked them, can we identify these people early and help them get jobs with our competitors? if you are a quiet quitter, you are a loser. you are an american. that's what i think. >> workers are so in demand. we started talking a year and a half ago about how power to the

workers. this is part of that, right? >> it could be, but really your job is to find something you are passionate about and find a way to work with your team. really, it is about culture. i am an investor in small business in america. that is 65% of our economy. these are family businesses. you build a culture. when you bring somebody in that slams shut their laptop at 5:00, you are introducing a cancer into your culture. eventually, you're going to have to do surgery and cut it out. the whole idea would be avoid these people. i don't know where this started. it is the worst idea i have ever heard because it is against what we do in business. we try to build teams that work together, achieve something, set objectives and work together. it does not matter whether you are working anymore at 6:00 a.m. or 2:00 in the morning. you are just giving your job done. that's the freedom the economy is giving you out in distant

spaces. no one is asking you to work 9:00 to 5:00. they're just asking you to get your job done. this is like a virus. this is worse than covid. >> i got it. you are on the fence about quiet quitting. all day long around here, we have been reporting on what an awful day it was on the street. do you see the market downward trend continuing now? >> yes, i do, for a while. we have really got to adjust to the hawkish comments powell made today, and that is okay. i have seen this multiple times. any investor who is invested for more than 20 years has been through multiple cycles like this. at the end of the day, you get that jolts down, almost 1000 points. volatility is really the hallmark of fed rate hikes, but we have a remarkably strong economy and that is because we printed over $6 billion and it is still sloshing around out there. the reason we have inflation is because we keep printing.

we are going to have this problem systemically until we stop doing this and you can debate the politics of it, but the midterms are coming, and i'm going to make an assumption right now that after the midterms, there will be no more bills printing anymore money. not that i want to get into politics, but i think we're done doing this now. >> chair powell said more rate hikes are coming. it sounds like more rates are coming until they see inflation is under control. is that the right move? >> i think it is. if you are sitting in cash were basically being taxed at 8%. half of this inflation is supply-chain damage and what we really need to do is we have this remarkable situation we have never had before. we have full employment with hyperinflation so you have to start to question unemployment. we need more employees and more businesses to fix the supply

chain problem. and powell has done a masterful job. he is not popular everywhere, but he is really trying to land that plane. at the end of the day, half our problems, just fix our supply chain. i have companies that can buy anything anymore because they can't get the supplies out of port of los angeles. we have to make it 30% more expensive. i am always bullish. i love entrepreneurship and that is why when we start to talk about quiet quitting, just say no. >> no quiet quitting. kevin o'leary is on the fence but you know, we will get him to appointed answer at some point. mr. wonderful, we will see you on shark tank. tough way to end tonight, but the day after her husband died, she discovered she was pregnant. how one woman is carrying on and caring for her husband's legacy. you will like this one.

britney spears, she is and just free, she is back on the charts with elton john, so return to tick-tock to talk to

get ready because britney is back, the popstar drugging a new song for the first time in six years, and the first music whitney has released since the california judge ended her 13 year conservative ship late last year. this is a collaboration with elton john. the song is called hold me closer. you will recognize it.

you probably noticed it is a mashup of elton john's tiny dancer. it is already number one on itunes in the u.s., and more than 30 other countries point on twitter earlier this week, britney spears wrote it is pretty cool that i am singing with one of the most classic men of our time. it is a big deal to me. i choose happiness today. audrey hepburn once said to plant a garden is to believe in tomorrow, and believing in the future is what liz fidler needed to do two years ago. her husband died suddenly, left her with a three-year-old and another baby on the way, so she made a promise to keep running his fifth-generation farm for their kids and planted that garden. local reporting now from our affiliates and their reporter, boyd. when life lies heavy upon

one's shoulders, there is something about the morning. >> things that you worried about all day the day before, and the morning they seem a lot smaller. >> reporter: liz fidler has experienced both the weight of loss and the light that makes it bearable. a gardener forgetting not the man who brought her to the stearns county farm. >> josh was the how to my wow. >> reporter: liz husband, josh, welcome to the farm he grew up on. liz earned her doctorate as a nurse practitioner. the couple envisioned a hobby farm, selling flowers and canned goods, a place of their own they named sunny merry metal after josh is late with

her. then, two years ago, liz had finished her first season in their first flower garden when they're well laid plans were uprooted. >> reporter: how old was he? >> 39. >> reporter: liz was at work, her husband home alone. josh collapsed while running on a treadmill. fits and in seemingly perfect health, josh had breezed through a physical one day before. one day after josh's funeral, liz learned she was pregnant with her second child. her mother suggested continuing the flower business might be too much. >> i just remember looking at her and i was like don't take away one of the things that still makes me happy. >> reporter: let's just say two summers later, good things are growing. >> this is davey. and this is by dalia.

we've got some wind chimes. >> reporter: his last canned vegetable and his college flag, but approaching two years since josh's death, also signs that liz is making the old dairy farm her own. >> these reflect her personality very well. she is colorful and vibrant. >> reporter: the new farmhouse liz and josh and started planning together is now under construction. one cut flower garden has grown to three. and all summer long, customers arrived to pick up the hundreds of bouquets liz assembles in the farms old butcher shop. >> you have a choice and move forward is kind of what i've

chosen. this is what he wanted for us, i know it is. >> these little ones are baby chicks and these big ones are the hens. >> reporter: the sixth generation on this 134-year-old family farm where the products are no longer meat and milk. >> the sunflowers need to sit a little bit lower. >> reporter: the lessons not just about bouquet making. but, lawson love. and life. >> am just the keeper of the flame for now. >> reporter: for the news, i am boyd hooper. 65 seconds left on the race to the finish, a newly released affidavit shedding light on the fbi's justification researching former president trump's florida home. it reveals that some of the documents of mar-a-lago were so sensitive that the justice department feared they could

expose human intelligence sources. the dow plunged more than 1000 points today after the fed chair more and more pain to come for americans and businesses as the central bank tries to call red-hot inflation. the secret service recovering billions of dollars in covid relief funds meant for struggling small businesses. now you know the news. for this friday august the 26, 2022, i'm shepard smith. follow us on instagram and twitter at the news on his cnbc. twitter at the news on his cnbc. weeknights 7:00 eastern on hi. i'm wolfgang puck

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and wolfgang puck >> narrator: in this episode of "american greed," new-age evangelist lydia cladek says she can awaken minds to untold riches, but her promise of big returns buying up auto loans isn't just mystical -- it's unlawful. >> when these investors are really putting money in lydia's pocket. >> narrator: and even an army sniper can't defend himself against this greedy guru. >> the threat is right there -- wears a little dress, wears a big smile, and that's the threat. >> narrator: and later, south carolina's silver dealer ron wilson is sounding the alarm on the u.s. economy. >> ron predicted, esseiay,