despite the biden administration really trying to do what they can on inflation, another key measure of inflation shows how high it is soaring. the producer price index which measures the prices paid to producers of goods and services jumped 11.3% year over year in june. this is all after what we pay for things, showed inflation at a 40-year high. the white house says congress has to pick up some of the slack. some of the most significant steps we can do right now are things he needs to partner with capitol hill on. there are steps congress could take to reduce some of the big tickets facing families and that legislation has been languishing over there. joining me now is the chief u.s. economist and managing director of fs investments. thanks for the time and good morning. good morning. so let s begin where the white house just left off there. they are saying there s more we can do. one thing is a gas tax holiday. there was a piece that highlighted carter administrati
could high level negotiations be an explanation of this new surge in military activity? plus, news you can use about forgiving student loans. cnn is asking what exactly is the rollout plan to relieve millions of dollars in student loan debt? senator elizabeth warren will visit the lead as well to respond to the criticisms of biden s plan. welcome to the lead. i m jake tapper. we ll start with breaking news. just moments ago, a judge ordered the release of the mar-a-lago after date. but with the redactions proposed by the justice department. the affidavit is the document that outlines why prosecutors thought they needed to take the step of searching the home of a former president and why they believed there was probable cause that crimes had been committed. let s get to jessica snyder. what did the u.s. magistrate judge bruce rhinehart say in his decision? reporter: the judge here acting with remarkable speed. less than four hours after the doj submitted their redact
messages, the house select committee investigating the capitol insurrection wants by tomorrow. plus, after a wild week on wall street, earning are rolling in and this morning from some of the world s biggest companies such as goldman sachs and bank of america. cnbc s andrew ross sorkin is breaking down the latest number as we get them in. and we ll explain why democrats are very upset with joe manchin. it is groundhog day. it is getting old. and we ll play for you president biden s response to reporters when asked about his fist bump when saudi arabia s crown prince. we ll also talk about the actual visit to saudi arabia. but first, the damning new report about the police response to one of the deadliest school shootings. systemic failure is the way it was described in a new preliminary report written by the texas house of representatives, the report also details how nearly 400 law enforcement officials responded to the mass shooting and basically waited outside as the
as well as a new video showing the police response to that massacre. a texas house committee investigating this may 24th shooting at robb elementary released a preliminary report on what it has learned so far. saying it found, quote, systemic failures and egregiously poor decision making. those systemic failures including three exterior doors that were unlocked, a classroom door with a faulty lock that nobody dealt with, wi-fi that was not working properly, and a force of nearly 400 law enforcement officers larger than the garrison that defended the alamo that did not have clear leadership, basic communication, significant urgency to take down this gunman. uvalde s mayor responding to the report by putting the city s acting police chief on administrative leave and releasing body cam footage showing the horror in the hallways and outside the school as well. i want to warn you, some of these images you re about to see, they are incredibly disturbing. [ gunshots ] am i green,
lives? reporter: ryan, in the report it does mention a few lines about why officer waited. it states they were waiting for the keys. they were waiting for more equipment. but let me take you through it because there are very telling details we did not know before reading this report. according to this report chief pete arredondo actually wrote the active shooter policy. he wrote in himself as the incident commander but, according to this report, he didn t take on that role on that ill-fated day. it says that he not only didn t take the role, he didn t transfer command of the scene to any other officer which, according to this report, could have been done in this case in this jurisdiction. now the report is much broader than this. it does not just point the finger at arredondo. it also says that there were hundreds of police officers who responded to the scene, and it points out those trained police officers then did not question that command. they didn t question that there