billion per day and drive inflation even higher. todd: kevin cork e has the lost. kevin: on the virge of striking across america as result some freight and passenger train companies have already begun reducing services. from the international association of machinists and workers, the tentative agreement has been rejected and strike authorization was approved by members and extension has been agreed to until september 29th to allow us to negotiate changes with the nccc, in hopes of an agreement. what that means is most unions involved well, unfortunately, most have agreed, but two major unions are holding out. so a 30-day cooling off period, we ve been talking about for weeks, ends on friday. that means a strike could begin later this week and that would be devastating. in all, talking about a dozen unions in dispute with six of the largest freight rail carriers in the country and a strike could be economically devastating with 60 s,000 workers holding out for better wo
li on the difference in 24 hours. susan? a new reality that inflation is higher and may stay elevated for some time. today s wholesale prices are the inflation that producers pay still much higher than a year ago. sure, coming down from the previous month. couple that with yesterday s consumer price jump and we re close to the 40-year highs and that s more than four times the way the federal reserves thinks is healthy for the economy. close to a third predicting a full 1 percentage point rate hike from the central bank. that could be the biggest central increase since 1984 when paul volcker was fed chair. before yesterday s report, that probability was at zero. elon musk weighing in. he thinks the federal reserve should cut interest rates because of the drop in lumber, cop per and oil. nobody is expecting a cut in rates until next year. stock market didn t recover much from yesterday s sell off. you have more job cuts by big technology companies. that s why some are calling
sandra smith will stick around for us today as well. and bret baier also joining us this hour as the president insists the economy is right on track. celebrates it with james taylor at the white house. first we go to white house correspondent jacqui heinrich. hi, jacqui. even though that new gallop poll shows that voters are far more concerned with the economy than the climate, the president is fixated on climate telling reporters that he s not concerned about yesterday s hotter than expected inflation reading or the stock market sell-off before announcing that $900 million for electric vehicle chargers on highways across 35 states. great america road trip will be fully electrified, whether you re driving coast to coast on i 10 or on i-75 in michigan. charging stations will be up and easy to find as gas stations are now. we ll invest $7 billion to have the batteries and other critical materials that car companies need. the white house wants half of all new cars to be el
holiday. we hear the president and democrats could be cooking up. welcome. i m neil cavuto. let s get to it with jacqui heinrich at the white house. hi, jacqui. yeah, with gas prices where they are, the white house is considering an idea that they tabled. that s sending out rebate cards to americans. they re eyeing a decision by the end of the week on whether to extend a gas tax holiday. it is a short term solution as one industry ceo puts it that they say runs counter to the administration s broader strategy. the first year of this administration, they were focused on demand destruction. this could be an exercise in demand construction. the real focus here should not be on short term solutions like cutting the federal gas tax but long-term solutions to provide american energy security from american producers here in the united states. whether the fed can cool inflation without trigger ago recession, the white house is getting creative. yesterday morning larry summers w
Mike Whitaker said the FAA s hands-on oversight of Boeing will ensure air travel is safe, even though Boeing s shift toward an adequate safety culture will take time.