yesterday s scathing report on inflation as well. dana: that number coming in much hotter than predicted. data suggesting the president s inflation problem is here to stay. the markets reacted accordingly. bill: the dow plunged almost 1300 points, the worst day since nearly the height of the pandemic in june of 2020. the sell-off fueling predictions of an even larger federal rate increase. dana: the rate hikes designed to drive down the inflation hurting your wallet. americans are paying more for everything this year, food is up more than 11%, that s the largest increase in 43 years. bill: wages are rising but can t keep up with inflation. that s leading to a 3% pay cut across the board. dana: despite all of that, president biden chose yesterday, of all days, to celebrate the so-called inflation reduction act. democrats touted the benefits of the $430 billion bill while brushing off the bloodbath on wall street. the stock market doesn t reflect the state of the ec
it s backed off a bit, but if you look at the tech heavy nasdaq, it is off 4% and plunging. john: debbie dingle standing by with her thoughts on how this could affect her party s midterm chances. but first, to jacqui heinrich live on the north lawn this hour and rather ironic the president has a celebration of the economy this afternoon. how are they reacting to the cpi report? either the white house expected numbers a whole lot better than this or someone in the scheduling office had an unfortunate oversight and getting an earful. it is ironic they are hosting a bunch of democratic lawmakers here today to mark the signing, last month s signing of the inflation reduction act just as those new numbers come out showing inflation, core inflation shot up last month 6.3% in august, up from 5.9% in july. and that is a key metric that the fed watches very closely and these numbers are more than the 6.1% that economists predicted, the next set of rate hikes will likely be quite a
casket travels from the palace of holyroodhouse in edinburgh to st. giles cathedral. shortly after a service of a reflection of the queen s life will take place there. we will bring it to you live as it happens. earlier king charles gave his first address to parliament as the new monarch, referencing shakespeare and saying that the queen was, quote, a pattern to all princes living. the new king vowed to continue the queen s dedicated service to her people. watch this. as i stand before you today, i cannot help but feel the weight of history which surrounds us and which reminds us of the vital parliamentary traditions to which members of both houses dedicate yourselves with such personal commitment for the betterment of us all. people are paying tribute around the world to queen elizabeth from the united kingdom to the united states, brazil, new zealand, japan, and many more nations. flags have been lowered and buildings have been lit up in remembrance of the queen. s
the queen s 70 years of service. elizabeth is now become queen elizabeth ii. elizabeth ii marks 70 years as queen. this is history in the making. it is called the platinum jubilee celebration. she s now the longest reigning british monarch and longest serving female of state in history. she entertained 14 british prime ministers, 14 american presidents. i raise my glass to you and to mrs. reagan. it is extraordinary, after all these years she s continued to uphold finest traditions of the monarchy. that s my home whether long or short, shall be committed to service of our great imperial family to which we all belong. the platinum jubilee celebration of queen elizabeth, we all beautiful. don t you feel it, this british pomp and pageantry. are you feeling it? i m feeling it, everywhere i go. london, nothing like it, this is biggest royal event of my lifetime. this queen has been on the throne 13 years longer than i ve been alive. i know you are thi