the fed scrambling to tame prices for seven consecutive rate increases bringing interest rates to the highest level in 15 years. chairman power makes it clear that at the final meeting of the year there is more work to do and more payment had. you wish there was a completely painless way to restore price stability. there isn t. this is the best we can do. but i do think that the markets are confident that we will get inflation under control we are certainly highly committed to do that. bringing in our panel. and editorial board member kyle peterson. mary, i appreciated the candor of the fed chair what this will take that what are your lessons of policy? what you have to take away from that clip is that jerome powell understands the importance of credibility if that is not a credible manager of inflation, then it gets out of control. it was just over one year ago that jerome powell said that transitory may not be the best way to describe the inflation problem and since t
harris making administration case on wednesday. there s no question we still have work to do but it s important to note these numbers do not fully reflect the recent drop in gas prices. average national gas price have fallen everyday nearly 30 days. since mid-june, prices are down 40 cents a gallon. paul: republican constant kevin brady of texas, top republican on the house ways and means committee. welcome mr. chairman. you heard the vice president say this is out of date, the numbers are out of date, what do you think that? they have no good news to talk about, maybe that s their effort but the fact is, most americans are learning joe biden s economy is a cool economy and we got to double down and inflation is raising both for families and mainstream businesses. it s getting worse, accelerating. you are seeing significant pay cuts for families, mainstream businesses already struggling with shortage and high prices. this tells inflation staying high for an extended perio
him to the hospital where he succumbed to his injuries after being knifed to death. fox news has brand-new information on the suspect you see on the right. the suspect in the killing, christina coleman is live with the latest. sources tell me the suspect in this case, 27-year-old trent is now dead. i ve asked to confirm the details of his death but tmz is reporting officers were informed he may have been cold out and in anaheim area apartment in a s.w.a.t. team executed a search warrant friday and during the raid and officer involved shooting happened leading to his death. also no police officers were injured. for bobby east, police believe two days earlier an orange county gas station, officers describe millsap as a transient who frequents the area. he was found on the ground suffering from stab wounds to his chest area, his murder shocking the racecar world two times nascar champion and fought for panelists or analysts for fox. tom bodine wrote a tragic incident involving
and is a soft landing for the u.s. economy still possible, or are we heading toward a recession? let s ask the chairman and ceo of baird company. jason, nice of you here. lots of turmoil in the financial markets. i wonder what you think they re telling us. is this just the end of easy money with higher rates adjustment and the adjustment to that, or is it something deeper in the economy? i think it primarily is an end to easy money, and the fact really is that the fed has obscured what the rate in the markets has been for 13 year. so there s an adjustment period right now. i think most of the decline in stocks thus far has been associated with higher interest rates and an acknowledgment the that inflation is a little bit more structural. what you haven t seen yet and which is somewhat concerning for us is that you haven t seen earnings expectations for, for many companies come down yet. and so right now it would be hard to say that the market is telling you there s going
this inflation and if it can be tamed. and border patrol agents, we re told, are furious that the department of homeland security is about to discipline their colleagues who were falsely accused of whipping haitian migrants last summer when they were actually using reins of their horses to control those animals. we have live fox team coverage and all these stories for you coast to coast. let s begin first with bill melugin with more on the situation among the border patrol agents because of those photographs that went viral with a lot of false accusations. hey, bill. reporter: eric, good afternoon to you. that s exactly right, multiple sources tell me they are irate about this. they feel that the president and other politicians essentially convict these horseback agents before they ever had a chance at an investigation, and now we re hearing they re going to be disciplined. if we can rewind the clock to last september, del rio, those horseback agents were responding to thou