4% of the dow is the worst we ve seen in two years. all hit hard because inflation remains stuck and no one can get it under control. an 8.3% annualized inflation rate. the core rate, that is without food and energy, also soaring more than 6.3%. this is the fourth 1,000 point sell-off for the dow just this year. again, this was a worse than expected inflation report. now the president is heralding this inflation reduction act that some people said is actually making the situation worse. because across the board, prices are going up. he s touting the prospect of eventually drug prices going down. even if he gets that and it s a herculean leap, it would be but a fraction of the overall costs that continue to soar. keep this in mind that with inflation running north of 8%, most food and related items are running at about double to sometimes triple that. whatever progress we ve seen on gasoline and related prices has done little to affect prices almost everywhere else. and then a
turning up the pressure on pat cipollone to testify after hutchinson revealed that cipollone was worried that he and trump s entire team would face a litany of criminal charges if trump went to the capitol on january 6th. hutchinson said the president knew his supporters were armed and trying to join them. there are also new questions, though, about the former white house aide s claims that trump lunged for the steering wheel of his presidential suv when secret service agents told him he couldn t go to the capitol. now the secret service tells the committee that agents are willing to dispute that story under oath. cnn s ryan nobles is on capitol hill. ryan, big day for the committee. do we know what s next? reporter: well, there s no doubt, victor, and alson that the committee seems to be razor focused on pat cipollone the former white house counsel and his role in all of this. to this point he s only had very base level conversations with the committee. he has not had an
the gains since biden took office. bill: the biggest rate hike in three decades. new york post, it s looking grizzly. dana: adding to the concerns is the producer price index for may out just moments ago showing wholesale prices up 11% year-over-year. all of that gets passed right onto you, the consumer. bill: it does. the price of gas holding steady, record $5 a gallon all threatening to overwhelm a white house in crisis. we begin with griff jenkins on the north lawn. good morning. that s ppi number which increased month over month is not welcome news at the white house because it rose and it is rising is an indication that inflation may not yet have peaked. that number, by the way, without going into the weeds represents what companies pay to make the things we buy and that cost gets passed on to us. by the way, bill, i doubt the president wanted to wake up feeling grizzly this morning. a bear market occurs when an index like the s&p falls 20% off a recent high. i
investigation in uvalde. then breaking this morning, nearly 400,000 jobs were added in the month of may. labor secretary marty walsh will join us with more on the new jobs report. and today marking 100 days since the start of russia s brutal invasion of ukraine. we re going to bring you the very latest on ukraine s fight for freedom. hey, everybody, good to see you on this friday morning. we re going to begin this hour with this renewed message from the white house on gun violence enough is enough. in a rare primetime address from the east room, the president laid out specific policy proposals he says will, in fact, address this crisis head on. he s calling on congress to reinstate the 1994 assault weapons ban. and if not, raise the purchase age from 18 to 21. he s also proposing congress ban high-capacity magazines, extend background checks, enact red flag laws, repeal gun manufacturers immunity from liability, and address the mental health crisis. he called out sen
left 19 students and 2 teachers dead. in uvalde families continue the excruciating task of burying their loved ones, their children. today three little girls murdered in robb elementary will be laid to rest. all between just 10 and 11 years old. during the shooting, 17 others suffered life-threatening injuries. the tribune reported five of the wounded are still being treated in the hospital, including a 10-year-old girl who remains in serious condition. the gunman s own grandmother shot in the face before the school rampage, now slowly recovering. meanwhile, rear hearing from the uvalde mother who ran into the school to rescue her two children, her sons, after being handcuffed by law enforcement. nothing was being done. if anything, they were being more aggressive on us parents that were willing to go in there. as i told the officer, i don t need your protection. i need you to go in there with me to go protect my kids. if anything, they were being more aggressive on us. the