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
strong economic recovery. the fed will continue to hike rates until inflation comes under control. and he signaled the action may be even more aggressive than last week s increase which was the first rate hike in more than three years. inflation, are as we have said is running at its highest level in 40 years. stock market didn t particularly light the fed s hawkish comments today. the dow lost 202. the s&p 500 fell 2. the nasdaq dropped 555. confirmation hearings for supreme court nominee judge ketanji brown jackson ban today up on capitol hill. if confirmed she will be the first black woman to serve on the nationest highest court. fox news chief correspondent anchor fox news at night shannon bream with a wrap of today s meeting and shows us where we go from here. good evening, shannon. shannon: hello, bret. day one is in the books, the real action starts tuesday morning. judge ketanji brown jackson spent week going through murder boards. prepare her for the pointed questions she is
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