west and winter storms out east. and now, rite aid and how the drugstore is being accused of fueling the opioid epidemic. this is what we are watchingt that hour. thank you for being here, i m kate bolduan, and we are beginning with the turmoil, the fallout, and the wild ride that has already been this week since the abrupt collapse of silicon valley bank. and the federal reserve is looking at the oversight of the bank and what went wrong and who missed what. the regional banks are bounce back after confidence of the institutions were shaken yesterday. this is how the stocks are performing right now. that is not all that is shaking up the economic picture this morning. we got the latest read of inflation. the government reporting that inflation fell for the eighth straight month in february. matt egan and john solomon joining us u no. matt egan to you, what are we seeing? we are seeing that the pressure is easing here, and the fact that the regional bank shares fell, an
and the latest on what china is saying about that balloon hovering over the u.s. and president biden is going to speak following a new jobs report that smashed expectations. 517,000 jobs added in january and nearly three times the forecast. we will bring you reaction live. and a life-threatening deep freeze headed to the northeast, and millions are bracing for once-in-a-generation sub-zero temperatures. china is confirming that the balloon floating over to the u.s. is theirs, and it is not a spy balloon as the pentagon says, but it is a civilian airship used for research are the words of the foreign ministry, and it is said to be the size of three buses. china says it accidentally drifted off course. and the sources says that china cannot manually control it, but how did it get there in the first place? the continental u.s. is a big target. yes, what happens next is the big question. the pentagon says it is not a military or physical threat to the people on the ground
floating above the continental united states, and we don t know what data it s collecting. you can see it right there on your screen and it s visable to people on the ground in montana. at least it has been since wednesday. today beijing confirmed it is theirs, claiming it is a, quote, unquote, civilian research air ship that went off course, but minutes ago, the pentagon flatly rejected that claim, calling it a surveillance balloon. secretary of state antony blinken s upcoming trip to china has now been postponed. the pro vocative move is inflaming a u.s.-china relationship already on the brink with tensions over everything from taiwan to tiktok. cnn s natasha bertrand is here to break it all down for us. natasha, there is so much to talk about here. so let s start at the beginning. what do we know about this balloon? yeah. so here, just to get a sense for the scale of this thing, this is the balloon, and what we know about it is that it is the size of about three busses.
it s the top of the hour in cnn newsroom. we re following multi-. concerns about that chinese spy balloon hovering over the u.s. secretary blinken just postponed his stop in china. the pentagon is about the size of three buses. it s huge. it was spotted soaring over montana at 60,000 feet. just moments ago the balloon was spotted over columbia, missouri. the national weather service tweeted these images of what they say is a large balloon in the kansas city area. despite growing calls to shoot it down, for now president biden is opting against that. the chinese are saying it s a weather balloon that blew off course. we re aware of the statement. the fact is we know it s a surveillance balloon. i can t be more specific than that. we know the balloon has violated u.s. air space and international law which is unacceptable. we ve conveyed this directly to the prc at multiple levels. john miller is here with us, cnn s intelligence analyst and kylie atwood. tell us abo
interior department. it acknowledged that charging fossil fuel companies less in royalty fees to krill would likely mean greater energy security, but the memo recommended keeping those fees high to fight climate change. let s go to lucas tomlinson live at the white house with the very latest. lucas. reporter: some are all called this leaked memo a negligent discharge. now, earlier on fox we had lawmakers from both sides of the aisle who shared hair opinions about this leaked memo from the biden administration. they have an agenda, and that agenda is the green new deal agenda. and it doesn t involve oil, it doesn t involve gas, it involves batteries and the things that we depend on from china. we need to make sure that we re moving as aggressively and rapidly as we can towards energy independence and renewable energies all actually. reporter: all at the same time. reporter: it shows the biden administration recommending higher royalty piece on oil and gas permits d