1981 when ronald reagan was president and battling a recession that seemed endless. a guy names paul volcker was hiking interest rates a full percentage point at a team to squash inflation that proved relentless. when indiana jones was the hottest movie in the country and charles and diana, the hottest wedding ticket in the world. back then bacon cost $1.75 a pound. try more like $7 now. coffee was $2.46 a pound. closer to $6 now. a half gallon of ice cream set you back about $2. nearly trip that will today. some perspective on time and prices. lower and slower back then. faster and out of control right now. we are all over it with lydia hu at a new york city supermarket on how folks are holding up. hillary vaughn on capitol hill where democrats and republicans are digging in. edward lawrence in jerusalem on if those inflation numbers are weighing the president down. why house economic adviser jared bernstein on what costs he sees no longer going up. welcome. i m neil cavuto.
pbs, rick stengel, an msnbc political analyst and gordon chang, newsweek columnist. yammish, what do we know about this call between president biden and president xi jinping? we know the president for a long time has called china the u.s. s main competitor and said there is this really tug of war between democracy and autocracy this is really a high-stakes call and also a call president biden is welcoming because he has said diplomacy is the thing america should be known for. he s said over and over again that america is back. there s a lot going on there. we should also note that hanging over this call is the potential trip between house speaker nancy pelosi and taiwan. there s a lot of criticism coming from china, based on reporting, that says she should not take this trip and it could set off a sort of crisis. others are saying, if she cancels that trip, the u.s. would look week, including to nations like japan. there s a lot going on the domestic front and the nationa
to vice president pence, mark short, greg jacob, they were both asked during their grand jury testimony about the fake elector scheme and the roles of trump lawyers rudy giuliani and john eastman. this morning in additions, the new york times and washington post are reporting justice department investigators back in april received phone records from key officials and aides in the trump administration including chief of staff mark meadows. all of this as the attorney general himself, merrick garland, is speaking out in a new interview responding to criticism that the justice department isn t moving fast enough. let s begin with cnn s evan perez. he s been standing by. what more are you learning about the justice department s investigation here? how broad and far they re looking? reporter: well, in this interview with nbc yesterday, the attorney general, merrick garland, made clear that this is a very broad investigation. this is what he described it as, an investigatio
who can t afford it. martha: the dow is up a lot on that news. in less than 24 hours, we ll know if the u.s. is officially entering a recession. charles payne joins me on that. and the other big story that we start the hour with here on this wednesday, china. warning the united states saying that when it comes to nancy pelosi s trip, it s a red line for them. china recognizes obviously china believes that taiwan is part of china, that it s not an independent country that can greet u.s. officials on their own. when asked were republicans from the hill will join her on this trip, the speaker said this. i never talk about travel. it s a danger to me. so why is the white house trying to dissuade this trip? we ll ask john kirby about that. he joins us in a few moments from there. first, to gillian turner covering this story for us today. it s a story that keeps moving all throughout the last couple hours, gillian. what is the very latest? martha, this just in. the secretary
will not be on stage, instead he will spend the evening fundraising. but he has already captured the headlines with a fox town hall he did last night, hosted by sean hannity, who gave him an opportunity to deny these reports that, were he return to the white house, he would rule as a dictator. except for day one. except for day one. ~ . i except for day one. except for day one i want except for day one. except for day one.- i want to - except for day one. except for day one.- i want to close - except for day one. except for day i one.- i want to close the one. meaning? i want to close the border and one. meaning? i want to close the border and i one. meaning? i want to close the border and i went one. meaning? i want to close the border and i went to one. meaning? i want to close the border and i went to drill, - one. meaning? i want to close the border and i went to drill, drill, i border and i went to drill, drill, drill. . , ., , ., border and i went to drill,