we will look at taiwan in the moment and the implications of nancy pelosi s trip there. we start with oil and the impact high prices is having on the global economy. nearly every country is struggling with the climbing cost of oil and gas as it fuels inflation and households struggle to pay bills so much so that president biden visited saudi arabia last month to persuade the major oil producer to increase supply and cool soaring prices. saudi arabia meets today with the other members of opec plus to decide on their next move. our middle east business correspondent sameer hashmi has more. another opec plus meeting but this one is a crucial one that comes with them if as of august producing the same amount you are back most members of opec plus in the uae only to members which have limited spare capacity. that boils down to them whether they will be able to boost production substantially to balance the market and bring down oil prices. it s very unlikely they are going to mak
several decades back going back to october 1989, several decades back going back to october1989, sirjohn several decades back going back to october 1989, sirjohn major, the then chancellor, giving his first speech in the job then chancellor, giving his first speech in thejob in northampton, i know how to live on a wednesday night, reading speeches from three decades ago, in which he was talking about the spectre of inflation and what to do about it, and had a very striking phrase. he said if the policy isn t hurting, it isn t working. and it is reminder of those timeless challenges in politics and economics around trade offs. the language mr hunt uses is more modest, there is a reflection on how difficult this is for households and businesses with the climbing cost of borrowing. but there is also recognition that getting inflation down is crucial. the government says it is still on track to try and halve it by the end of the year, but one former senior treasury official says that that
we will look at taiwan in the moment and the implications of nancy pelosi s trip there. we start with oil and the impact high prices is having on the global economy. nearly every country is struggling with the climbing cost of oil and gas as it fuels inflation and households struggle to pay bills so much so that president biden visited saudi arabia last month to persuade the major oil producer to increase supply and cool soaring prices. saudi arabia meets today with the other members of opec plus to decide on their next move. our middle east business correspondent sameer hashmi has more. another opec plus meeting but this one is a crucial one that
unre unrelatedly, soaring prices. the biggest increase in prices in four decades and that s measuring the period before russia s war on ukraine. experts think prices will continue to rise, perhaps even worse, and americans are already feeling it from record gas prices to rising rent. the climbing cost of putting food on the table. our panel is here. let me start with you, west virginia senator joe manchin told cnn he doesn t think the biden administration has done enough to deal with inflation. mark kelly, senator from arizona, is calling for biden to suspend the gas tax. how do you get ahead of this if you re joe biden. if you ve got democrats that are starting to separate themselves from you it doesn t look that great in terms of getting ahead of it as a full party as you knew you d have the republicans criticizing any move and it was going to get even worse after the decision to block russian oil imports shooting up the price as more. so the president is going to be having to do a
just spoke to senator warren about her new bill to rein in the cost of federal student loans by giving them the same rates to borrow money for school the government gives to banks. a blockbuster report from the huffington post details how sally mae is making a fortune and colleges are make hg money off of sally mae. university endowments and teacher pension funds are big toward in sally mae, the private lender generating enormous profits thanks to student debt and this climbing cost of education. that means education professionals are able to profit twice off the same student. joining me tonight are the reporters who sproek the story, ryan grim, bureau chief for the huffington post and chief