now. president biden was wrong back in december when he predicted that inflation was at its peak and said this. i think you ll see it change sooner than quicker, more rapidly than it will take than most people think. leader mcconnell is standing by. first, gene sperling. good to have you with used too. the question that comes up again and again is that the messages that we received from all left fields of the white house and treasury have been wrong. so how did you get this so wrong? well, martha, the white house and the treasury department were saying last year and i can t stress this enough, reflected the overwhelming economic consensus in the private sector, in the u.s. and other places around the world. it wasn t so much it wasn t the people were wrong with the facts that they had. it s that things happened after that that affected the outcome. so we had not just delta, but omicron. we had gas prices at $3.31 january 17 when putin first started doing military ex
what a crazy day in the markets and for the economy. just when we thought the inflation news couldn t get worse, it did. a sign of what is coming. wholesale inflation that makes you think wait a minute. the retail inflation that is bad could get worse. susan li with more. the dow down sharply this morning after the near record high inflation numbers for producers. wholesale prices coming at 11% higher than last year. you couple that with the steepest consumer price increase and 41 years. we know that americans and companies are paying a lot more for their goods these days. meantime, you have america s biggest banks kicking off what wall street sees as a crucial earnings season to check on the health of corporate america. the biggest lender in the country, j.p. morgan and jamie dimon confirming that his prediction of a economic hurricane down the road has not changed. he points out that the u.s. economy continues to grow in the job market hand consumer spending remains healt
and elegant and sophisticated and all the rest of that. she was more than just a pretty face. martha: ivana marie trump was married to donald trump and has passed away in new york city. thank you for being with us. we ll have more to come on this story as fox news continues this story. we ll see you tomorrow. neil: inflation spiking again and stocks tumbling. now j.p. more than chase s jamie dimon says the risk of a recession is growing. susan li on businesses that are bracing. lydia hu on americans that are now just reeling. hillary vaughn on democrats pushing for more taxing and spending. along with missouri republican senator row blunt who says don t count on that happening. welcome. i m neil cavuto.