i mean, the truth is that no one has a crystal ball here. we re really in unchartered waters and so that probably mean as bumpier ride ahead in the economy and the economy. and when they speak, the market listens. all right, thanks to explaining it. and we talk a lot about how inflation is driving prices higher on just about everything from gas to food. still, america s meat packing industry has some explaining to do as consumer prices are soaring, and their corporate profits are surging. ceos of the four largest companies will be grilled at a house hearing later today. daniella tee asdiaz is live on i will for us. what do the lawmakers want to hear from these execs? reporter: these ceos will come under a tough line of questioning from house members later today at a committee hearing where they will be asked repeatedly about the rising cost of food. now, those ceos of course being
i know you said obama administration, but i know, pete, you meant biden administration. i m sorry, yes. i know our viewers know that as well but just in case, let s clear that up. thank you. kim, let s talk about the two cases kim was just laying out. i wonder if the biden administration tried to narrow down the scope of who needs to get this testing, if they said meat packing industry where people are working side by side and other industries like that, those are the ones that are required to get that testing, do they would they then have a better chance with this supreme court? if we re working under the assumption that they re probably not going to overrule this block on osha? i m not so sure about that, katy. this is really a massive power struggle, not so much about whether vaccines are okay or even mandates, but who has that power. and i think it goes beyond whether it should be congress. i think there are some people on this court who would believe,
bit. john: did you say nasdaq is down? sandra: the nasdaq is down, s & p 500 is down. the dow is slightly higher. john: that means brian killmeade is not going to get his pick six victory tonight. he thought the nasdaq would finish the highest of the indices today. sorry, brian. sandra, the white house out with a new plan to fight soaring meat prices. focusses on increasing competition within the meat packing industry but is that the right move? tomi is going to weigh in on what s happening in the meat packing industry. stay with us. sandra: looking forward to that segment. plus, winter storms slamming parts of the south to the northeast. a look at the chaos it has caused next. on a quarter tank of gas and just sitting here watching the road, making it even harder to get home.
the books not being enforced so biden is correct we need competition, hold meat packers accountable. think of how great things are for the meat packing industry. they are able to import this cheaper foreign beef, pass it off as product of the u.s.a. and our american ranchers, more than capable of supplying the beef and the meat needs for the nation and much of the world cannot differentiate their product. so you are seeing the prices, going to the grocery store and meat costs more but the ranchers are not able to take advantage of that, quite the opposite. they are being undercut. all they want is a country of origin label on their products. and if you want to buy brazilian beef, australian beef, canadian beef, that s up to you. the consumer ought to know. you pay a premium price, you better know where the product is from and i believe the american ranchers have a premium product and that helps the consumer, the rancher and holds the meat packers accountable. right now they are getting
tomi: thanks for having me, issue so close to my heart and home state and family so i appreciate you taking the time. i know consumers are starting to realize the issue more and more each and every single day, impacting them, impacting us all, we need to get to the bottom of it. sandra: it s really something, i don t know that a lot of people knew that about you and when you grew up near, you know, near farms and near these ranches, it s very personal. what are you hearing? when they hear president biden say that the cause of inflation is because of these meat companies, and the lack of competition from these meat companies, that they are able to charge these higher prices. and now he wants to increase competition to bring the prices down. is that the solution? tomi: president biden is not all together wrong on this. this is a problem in the meat packing industry.