levels. we re going to talk about that today. david asman and lauren simonetti will join us and then i m going to speak with brian deese, the top economic adviser to the president. he s meeting with the president right now post this decision from the fed. i will ask him what the president has to say, what the approach will be. all along, the president says things like this. the bottom line is this. i truly believe we made extraordinary progress but laying a new foundation for our economy. and texas politics is in the focus with dana perino co-anchor of america s newsroom and the five and kellyanne conway, author of the new have book here is the deal. it s great to have you on set here in new york. first of all, kellyanne, what is your reaction to the fed move? the president and the people representing him haven t been forthcoming with the american people. and american people have been forthcoming with him. we re hearding, they say. the shelves are bear from infant
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
susan li has shown no food spikes have a sign of ending. let s begin with kelly. hi, charles. the stock market is now in bear market. everything was done as we take a look at the red hot inflation data and they liked it less. the s&p 500 closed 4% down. the dow lost 900% and more pain is expected tomorrow that will likely near or be worse than friday s cpi. markets have flunk wildly as investors decipher how the central bank will raise rates. that s why investors broadly unloaded riskier assets. the national average hitting over $5 a gallon this weekend. records are nothing new. we ve seen new highs across the country. for context, to fill up a toyota camera, that cost has soared 63% versus last year. now it will cost you $79 at the national average. charles, we spoke to frustrated drivers here. they re beginning to change their habits. when is it going to end? it s a lot to take in. you have to get it. it comes in to play every single day, do i want to drive to the bea
surrounding president biden s 2024 prospects, after brutal reports, that members of his own party see him as an anchor that should be cut loose. the times interviewing more than 50 democratic officials. a current dnc member saying, quote, biden should announce his intent not to seek re-election in 24, right after the midterms. oh, that s my prediction date, isn t it? it is. president biden getting no mercy from younger members of his party. listen to this about a second term. he s saying he s going to run again in 2024. will you support him? if the president has a vision, that s something we re willing to entertain and examine when the time comes. that s not a yes. yeah. you know, i think we should endorse when we get to it. democrats set on dumping president biden can point to a laundry list of reasons. national gas prices have sky rocked to over $5 a gallon, inflation on everything from shelter to medical care. some feels it s too late to change things aro
through the senate. we have fox team coverage with alexandria hoff and lucas tomlinson. reporter: the framework is significant in its own right coming to the point in agreement that has not been reached in decades. a statement from the group reads this, quote, our plan increases mental health resources, improves health safety and support for students and helps ensure dangerous criminals those who are adjudicated as mentally ill can t purchase weapons most importantly plans to save lives while protecting constitutional rights of law abiding citizens. it has billions more for mental health and school safety and expanded background checks for gun purchasers under the age of 21. the bipartisan group was led by senator chris murphy and john cornyn, ten republicans in total signed onto this agreement meaning as it s written now it has the ten needed to advance in the senatement on the senate majority leader chuck schumer added this, once the text of this agreement is finalized, i w