and a possible visit to taiwan. if u.s. fighter jets escort pelosi s plane in taiwan, it s an invasion. the tweet reads the pla has the right to forcibly dispel pelosi s plane and the u.s. fighter jets, including firing warning shots and making tactical movement of obstruction. in ineffective, shoot them down. peter doocy asked the white house about this latest rhetoric just moments ago. action it relates to the speaker s trolls, something that we re just not going to speak to right now. it s hypothetical. we re just not going to speak on her schedule. as i mentioned, we ll bring you the latest recession spin. jared bernstein and neil cavuto are here. let s begin with michael waltz, florida congressman. he s a former green beret commander. congressman, thanks for joining us. the threat about the u.s. jets, pelosi s plane. what do you make of that? well, you know, first of all, the response in the white house is apparently this is unnecessary rhetoric. this isn t unneces
awhile. great to have you. stocks have been rejoicing. more on that in a second. now on something that is happening that would make you wonder why are they rejoicing? edward lawrence with more. we end a week with more bad economic data for this administration. now, the fed s favorite inflation indicator, if you see inflation, is now at the highest level since january of 1982. in fact, the hit song at that time was let s get physical by olivia newton john. pc inflation year over year after 6.86. core, which is without food and energy costs 4.8% year over year. when you look at this month compared to last month, the increase at 1%. that s the highest increase since march of 1980. now it s a lot of numbers but you get the idea here. republicans will remind you that all of this is because of president biden s policies. they re doubling and tripling down on failure at a time when we may be in recession, at a time when the american people are hurting in so many different ways
kids. perfect example of great things happening to great people, trace. trace: thanks, charles. good to see you. that is the story of friday july 29 of 2022. as always, the story goes on. martha will see you back here monday at 3:00. your world with neil cavuto starts right now. neil: all right. well, inflation is not abating. in fact, it s spreading. new numbers showing inflation remaining at a 40-year high in this country. now word that it s spreading across all of the european continent. this as america is officially in a recession. it s something that keep langone has been saying and warning about here. so is billionaire investor ray dalio. he says it will stick around