furniture up 14%. and gas at more than 50% from a year ago. the cost of housing, food, clothes also spiking. the 7% increase in inflation over the last year is the highest jump in nearly four decades. while it's nowhere near historic highs of nearly 15% from 1980, it's one of the biggest challenges facing policymakers and the white house. >> we are working relentlessly. we are trying to make sure that competition is robust in industries so cost savings get passed on to consumers. >> reporter: inflation is only part of the economic picture. which has other signs of strength, including a 3.9% unemployment rate. and historic wage growth. yet with inflation expected to remain high for much of the year, the federal reserve is signaling its intention to raise interest rates saying the economy no longer needs emergency support. >> we see inflation persisting at high levels longer than expected, then we will, you know, then if we have to raise interest rates more over time, we will. we will use our tools to get inflation back. >> reporter: with a winter wave of omicron cases hitting restaurants, airlines and other sectors hard, the economic recovery from covid is shaping up to be even more tedious. inflation also threatening to further complicate the build back better agenda with senator joe manchin calling today's labor report very, very troubling. president biden will be on capitol hill tomorrow meeting with senate democrats. jake, the meeting is about voting rights and the new push. you can bet inflation also a key concern. in farktsct, it's one of the bit worries democrats have been talking about all day as they head into the midterm election races where they're trying to keep control of the house and indeed the senate. >> jeff zeleny, thanks. let's dig in on this. listen to some of these numbers. the price of gas up almost 50%. the biggest jumps ever in prices for new cars, fast food, restaurant meals, men's apparel, furniture and bedding up 13%. highest spike since 1951. chicken up 10%. biggest rise since 2004. fish and seafood up 8%. the biggest since 2011. kathryn, you track this stuff daily. what's going on. is there a single issue driving this inflation? >> there are a couple of factors. more more than a couple of factors. the main one, or one of the main ones is factory supply chain issues. you have ports still congested. too few truckers. and be the on the other side is demand. demand is way up. consumers have cash to spend and they're ready to spend it. they have that cash available because they amassed a lot of savings while locked down early in the pandemic. not spending money on travel, on restaurants, et cetera. and because the government gave them cash. that was sort of the goal. they are spending it now. and they are spending more of it on goods, exactly the same things having trouble getting through supply chains. so what we see essentially is that some of the very same policies that have given us really good unemployment numbers, really good gdp numbers, spending numbers are also contributing to higher prices. it's part of the consequence of running the economy hot. >> doug, last week president biden said that wages were at record highs for many workers. but the -- obviously the counterargument is that these higher paychecks don't mean much if the extra money is going straight to the higher cost of living. >> yeah, i think that's exactly on the mark. the labor market is incredibly hot. if you look at the combination of number of workers, the hours they work per week and how much they get paid for each hour, payrolls are growing at a 10% annual rate in the most recent employment report. there's a lot of demand for workers, generating a lot of wages but none of those numbers look like the 7% top line we saw in the report today. and indeed if you look at the core things, food, energy and shelter over 50% of the typical family's budget, that rose at 8.2% last year. so they've got record high wage growth and falling behind at the same time. that's a very troubling picture. >> the white house is quick to say, hey, biden's build back better agenda will ease the pain, but the truth is inflation is -- and concerns about inflation is why senator joe manchin opposes build back better in its current form. he's worried all that money going into the economy is going to keep rising prices. >> yeah, i think this is not going to make the biden agenda any easier, frankly, unless they can make an argument there's a way to do this, that that won't furthers exacerbate the proble we've been discussing. the coronavirus pandemic is also compounding some of these issues. on top of the rising cost of everything in terms of goods that people need in order to live, there's also this child care squeeze that is just causing families to feel like they are getting hit from all sides here. so this is really an urge int issue for biden to deal with. frankly, i think there's not a whole lot of hope there's much legislation of significance that's going to get through, in part because of the narrow majorities, but i think manchin will be dug in on this issue after this kind of inflation report. >> doug, take a listen to the type of thinking president biden is hearing from his economic advisers. this is a voice that will be familiar to you. >> every forecast shows that even with fed rate hikes penciled in, the unemployment rate will continue to decline this year and we should be back to full employment at the end of the year. so under this scenario, inflation comes down in the second half of the year. >> that's jared bernstein, obviously. might it be too soon to raise interest rates? could that drastically raise the cost of loans on higher priced items as new cars, mortgages with home prices already at all-time highs. >> jared should know you should never take a forecast to the bank. it's the reality on the ground that will matter to voters. they have a problem with inflation right now. the labor market is red hot. i think the outlook for continued growth is very good. i don't see a reason to be pessimist identical that. the fed needs to move from stepping on the accelerator to tapping the brakes. it needs to do that as quickly as possible. so they should not be lobbying against rate increases. rate increases are necessary, justified and part of controlling inflation and continuing job growth. so i think they have to be careful where they go when they start lobbying the fed for not doing its job. >> kathryn, dwwhat do you sty republicans and others who say corporate greed have overstimulated the economy and created this surge? >> i think probably federal stimulus has contributed to the higher demand. people got the stimulus payments. they got all sorts of other kinds of transfers. they were lifelines for much of the public but they did enable people to spend more money. that's reasonable. when it comes to something like build back better, though, i'm just not persuaded, given the way that bill is structured, that it will have any effect on inflation one way or the other. biden says it will bring down inflation. republicans say it will jack it up. i think it's probably going to have negligible impact. i'm not terribly worried about that. the corporate greed stuff, i just think this is nonsense. it's political posturing. it's demagoguing. it's easy to claim that there's a villain out there and that's what's driving up these prices but it's the fact that demand is up and supply is constrained. corporations are always greedy. it's not like all of a sudden in the last year they remembered, oh, gee, i'm supposed to be greedy now p. abby, today proib -- >> go ahead. >> i think you have to emphasize what catherine just said. it's not like before this year we're in the era of corporate altruism. they do what they do. no question about that. and as far as the box the administration is in, the mistake was the american rescue plan, $2 trillion was just way too big at that time. if they could just say that was too big. it was a mistake, and $155 billion, which is what build back better would be is not a threat, then they might have a chance and make that argument. but they can't acknowledge the error and they are pivoting to the corporate greed arguments. >> proesident biden said inflation is a global problem. last month he called inflation just a bump in the road. what people don't hear is what is he going to do about it? that's an increasing problem for biden whose poll numbers are in the toilet. >> yeah, i was very interested in hearing, you know, brian deese at the white house talking about this. he acknowledged that they didn't -- they got it wrong. they didn't foresee this coming. and that's -- i mean, you know, it's good when politicians acknowledge when they've gotten things wrong but from the perspective of the american public, they are looking at the biden administration that they are asking, do you guys know what you're doing. do you guys have a handle on these problems. and there's a perception now that they don't. and so they've got to right that ship if they're going to regain the confidence of the american public. because americans will weather inflation. they will weather some of this stuff if they feel like the leadership has it under control. but right now it seems like the biden administration is just, you know, they are lurching from one extreme to another and saying that they are not anticipating things that people are telling them are coming their way and that is, i think, you know, that's a perception problem that erodes confidence in the administration from a political perspective. >> our thanks to all of you. breaking news from the january 6th committee. the committee has sent a request for the top republican in the house, kevin mccarthy, to talk to them. they just met with one of the most recognizable faces from the trump administration, if not one of the most honest. then -- closer to the brink and russia refusing to blink. the warning from a top u.s. diplomat about vladimir putin. plus, a medical helicopter crashes in a crowded neighborhood and everyone survived, including the baby being flown to the hospital. how did they do it? 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it's not that ukraine is poised on the border with russia, about to invade them. it's the other way around. russia has 100,000 troops looking like they're about to invade ukraine. so the head of the u.s. delegation, deputy secretary of state wendy sherman told me there is no sign that after these talks russia looks like it's going to de-escalate. take a listen. >> there was no commitment to de-escalate, nor was there a statement that there would not be. what i think is very important and which i think russia heard loudly and clearly from all allies today is, it's very hard to have dialogue, to have diplomacy that is conducive to success when, in fact, you have 100,000 troops, live-fire exercises, propaganda, disinformation, other efforts to subvert that environment. >> remember, russia came into these talks this week with two major demands that had already been rejected out of hand by the u.s. and nato. and that is that ukraine never be allowed to join nato and nato withdraw troops from eastern europe. that was never going to happen, according to u.s. and nato leaders. that's why russia feels like it is being ignored. now nato wants more discussions. they hope to make more progress. but deputy secretary of state sherman said they don't know what russia is going to do next. that russia themselves might not know what they're going to do next. a real indication this comes down to the decision of one man, vladimir putin. jake? >> alex marquardt, thanks. here to discuss, susan glasser for the new yorker and global affairs analyst, stationed in moscow for several years. susan, thanks for joining us. this latest threat from the russian deputy foreign minister seems like a significant escalation in the rhetoric coming from russia. what does it suggest to you? >> yeah, look, i think, jake, that was the worry about this intensive week of talks all along was there was no possibility of an agreement because they were framed in such a vague way. russia's demands are complete nonstarters. it's a pretext in the first place. remember, this is a completely manufactured crisis and so i think the worry all along was that russia had demanded these talks, not because it wanted serious negotiations but because at the end of it, russia would then be able to say, see, look, they didn't meet our unreasonable demands and, therefore, no choice but to move forward. so i fear that's a potential scenario that we're looking for is russia walking away at the end of this week and saying we have no choice but to proceed. >> yeah, i asked secretary of state antony blinken about that. do you think these are just bad faith efforts the russians are going into with the pretext as you described it. he projected a more optimistic view. i suspect he's more clear eyed. today's meeting is the second tleef with russia scheduled to take place this week. any reason for optimism that some sort of breakthrough can be reached and some off ramp for putin can be offered? >> you know, that phrase off ramp, i have to say, it triggers me. >> sorry. >> because i remember for months during the 2014 ukraine crisis, the exact same thing, again and again. what's the off ramp for putin? how can we get him to look at the cost of this? and putin has already factored in the exact costs that the american diplomats are now talking about publicly as a consequence of any further military action. he already understands that cutting off the nordstream 2 pipeline with germany is almost certainly to be one of the costs. he understand ls that sanctions that would cut russian banks off from the international banking system is cooked into the price at this point. and so the fact they're still willing to engage in this rhetoric, that they still have this enormous military footprint literally threatening ukraine right now, i think it's very worrisome and it seems like a much bigger force, i should point out, than the one that did begin a military incursion into ukraine in 2014. this is a bigger and more serious invasion force than we saw a number of years ago. >> the u.s. said it's finalized the sanctions options in the event russia does ultimately invade ukraine again. the state department is warning putin of severe consequences again. are these threats? how does putin even hear these threats? he already calculated what he might lose, how the u.s., how the west would respond. is he just playing a completely different game? he just doesn't care? he's going to do this? >> well, look, i think those who are saying and many of the wisest russia watchers believe that putin himself likes to reserve all options until the final moment that he's not somebody who necessarily knows, you know, a month or six weeks in advance exactly what he's going to do. but that he wants to put his pieces in position for him to be able to have the flexibility to make that decision to the end. and i do think it's important having observed putin over these last two decades to underscore that he really is the decider in that system. the russian foreign ministry was never super empowered in soviet times and it's not superempowered today. all those conversations taking place in geneva are basically with pass-throughs, not people who have the position to decide or not to decide what happens next. >> susan glasser, thanks, as always. breaking news. the january 6th committee just sent an invitation to top house even kevin mccarthy. this as we learn the committee met with donald trump's former press secretary. stay with us. and put 48 hour freshness and 1 quarter moisturizers in. dove 0% aluminum deodorant lasting protection that's kinder on skin. liz, you nerd, cough if you're in here! shh! i took mucinex dm for my phlegmy cough. what about rob's dry cough? 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just ask your asthma specialist about dupixent. a major development in the investigation into the deadly january 6th investigation. kevin mccarthy has been asked to provide information to the committee. let's get to cnn's ryan nobles on capitol hill and, ryan, this is, as of now, a voluntary cooperation request. is there any chance that the committee, if he refuses to cooperate, could subpoena him? >> there's also that chance, jake. the committee said from the beginning they wouldn't hesitate to subpoena anyone they feel is not cooperating fully with their investigation. but it's pretty clear they would prefer these members of congress, including now the house minority leader kevin mccarthy, to do so voluntarily. they believe that mccarthy has a lot of information, not only about the insurrection itself on january 6th, but the events leading up to it that leave them to believe that there are many things he can share with the committee that would help their investigation. now in the past, mccarthy has said he has nothing to hide. he even said sure when asked by manu raju if he'd be willing to testify in front of what was then plans for an independent commission. since then, he has said about the select committee that he has nothing to hide but also has nothing to add. we'll have to see how he responds to the voluntary request and then, jake, whether or not the committee will move forward with a subpoena. >> and you have more breaking news about trump's former press secretary kayleigh mcenany? >> that's right. kayleigh mcenany, now works for fox news, did testify in front of the committee today in a virtual hearing. we dont know exactly what she are layed to the committee but she had been under subpoena for some time. her initial deposition appearance was delayeds as she engaged with the committee. now she's sat down with them virtually and answered questions. of course, mcenany, another one of these people very close to the former president donald trump who could have specific insight into that day specifically on january 6th. at this point we don't know what she told the committee, jake. >> ryan, one other question. this is a fringe conspiracy theory, but i have to ask you because it is showing up at congressional hearings raised by house and senate republicans. an arizona man, ray epps, has become a taertrget that he was undercover fbi agent or informant or operative at the capitol on january 6th last year. that he was planted by the government, this is the conspiracy theory. planted by the government to encourage the insurrection. from his public profile and from reports about epps, it appears he's a trump supporter and a former member of the arizona branch of the far right wing group the oath keepers. has the january 6th committee looked into this accusation at all to see if there's any truth to it? >> yes, they have. the committee put out a statement yesterday saying that they have interviewed and talked with ray epps about his conduct around the capitol on january 6th and that they specifically asked epps if he's ever been employed by any federal government agency, specifically the fbi to which he told them no. they also specifically asked him if he was an informant. he also said that he has never at any point in his life been an fbi informant. part of this conspiracy -- there's no evidence of which to back up -- is at one point epps was on a list of individuals that the fbi was looking for as it relates to activity related to the capitol insurrection and he was eventually taken off that list. the conspiracy theorists have run wild with that, many of them members of congress. matt gaetz, marjorie taylor greene. of course, none of that has to do with his status as fbi informant. as the committee found out, he simply never was and that's the facts of this matter, not that it may matter to some of those peddling this conspiracy. >> they thought the fbi put an image of one of their undercover operatives online and said wanted and then took it off? that makes no sense at all. >> that's the most specific piece of quote, unquote evidence they've offered when it comes to this conspiracy theory, jake. there's just nothing else that would lend you to believe there's any facts. joining us now, republican congressman of the january 6th committee adam kinzinger. congressman, i want to get to ray epps in a second. first this breaking news. your committee sending a letter to your leader, kevin mccarthy, the house republican leader. have you heard from mccarthy? do you think he'll cooperate? >> haven't heard anything yet. i certainly hope he does. do i think he will? we'll see. but holding a title in congress doesn't make you exempt from having to be -- to bring information you may have related to such a serious investigation. it's obviously been reported that the president called him on january 6th and said, kevin, obviously, these people care more about the election than you do. that's information we want to talk to him about. so certainly hope he does voluntarily cooperate after all. it's the body he serves in doing the work that the body has been charged with doing. we'll see -- have to see how it goes p. let's assume the worst about kevin mccarthy for a second. i don't know why i'd do that but let me play that game. would the committee subpoena him if he opts to not voluntarily tell you the truth? >> yeah, i think as the chairman said, it's on the table. you know, obviously, there's a number of members that would probably face us. you're not exempt from having to come and testify. that's an issue we're working through as a committee and figuring out what can these people provide that we can or can't get somewhere else and we'll make a decision from there. >> what do you want to ask him? the letter seemed to suggest he knew there was a scheme to overturn the election by not counting the electoral votes. >> there's a number of things i'm curious about. what did he know prior to january 6th. on a call january 1st i directly told him there was going to be violence. i predicted violence and it was very much dismissed and just said next caller. it was a large conference call. he made the decision to object to the electors. all that led up to january 6th. it convinced people that, in fact, january 6th was some patriotic duty to fight against the stolen election. of course, he's very close with the former president. he had the conversation on that day and maybe more. and i think that's of interest to the committee as we get to the bottom of what happened on that day and what led up to that day. >> your committee also talked with kayleigh mcenany. did she have anything to contribute that you didn't know before? >> i'm not going to, you know, talk about what was testified to or what wasn't. i'll just say that as the subpoena required, she appeared and we'll go from there. i'm sure as information -- as folks put the pieces of this puzzle together, we'll find out the bigger picture. >> let's turn to the ray epps conspiracy theory and watch a clip of epps, well, there is this clip of epps the night before the insurrection and then during the insurrection. the night before he says tomorrow we need to go to the capitol, peacefully, peacefully, and then on january 6th, he says take a step back. we're holding ground. we don't want to get hurt and the crowd is chanting fed, fed, fed. you tweeted a colorful thread about this baseless conspiracy. you said, quote, he didn't enter the capitol on january 6th and was removed for the most wanted list because he broke no laws. i'm pretty sure the fbi wouldn't be dumb enough to put their own agent on a wanted list. what do you make of this? you have republican colleagues of yours in the house and ted cruz in the senate pushing out this nonsense, and i don't even understand why. >> so this is part of this whole flood the zone with confusion, with conspiracy. in fact, now the reaction is, you know, i don't know why wasn't he arrested? because he did say go into the capitol. and what happens is any time you call them out on bs, there's a circular argument and one way or the other. the truth is the conspiracy said that ray epps was an fbi agent. ray epps is not an fbi agent. and that is the crux of this fbi conspiracy that somehow maybe their own base is too stupid to be able to resist somehow an fbi-inspired insurrection. that's the kind of garbage we're dealing with. and this is new. his name is new to a lot of people. for about the last three months it's been growing on right wing twitter and conspiracy blogs to the point where whatever percent of the american people take it as fact as ray epps was an fbi agent. he was not. this was mainstreamed yesterday when ted cruz asked specifically to the fbi about ray epps. they can't comment as they don't about individual cases and that was seen as even further of a conspiracy. this is why conspiracy theories can't be ignored with this new social media environment. they have to be nipped in their infancy. >> and also because you have people who you'd think would know better like u.s. senators and house members mainstreaming this stuff. i want to get your reaction to something i saw today that was kind of shocking. so the mayor of d.c. muriel bowser put out a tweet about new regulations in d.c. proof of vaccination if you go to a restaurant and also a masking order. your republican house colleague, congressman warren davidson of ohio, responded to that with a picture of nazi imagery of a nazi order and wrote, this has been done before, #do not comply. he added a comment. let's recall the nazis dehumanized jewish people before segregating them. a jewish democrat confronted davidson on the floor of the house today and told me, he said i could report this, i told him the use of such imagery wasn't just repugnant and dangerous and false equivalency but deeply offensive and painful for jewish people. i said i'd debate whenever he wants but there's no debate on the offensiveness of this post. >> he's going to raise money on this. he's going to be known. this is the new politics. it's not about -- it's about how can we outrage the other person that just had the greatest outrage. look. you can disagree with vaccine mandates in restaurants. there's some of it i disagree with, but to say that that's somehow equivalent to adolf hitler early stages? i would encourage warren or anybody else to go back and maybe take a history lesson of what happened in world war ii, what happened to 6 million jews. it is insane. the government wants to keep you healthy. i'm going to tell you, the nazis weren't interested in keeping the jewish people healthy. that's a basic start to this. if we go down this level as a party, shame on us. as we go down this level as a people, shame on us and every republican leader needs to be condemning that kind of bs right now and saying there's no place for that. instead they're talking about debating whether or not liz cheney and adam kinzinger should be republicans and not someone like warren davidson tweetingim. >> congressman kinzinger, appreciate your time. >> you bet. it's considered a w breakthrough in treating covid but it's not easy to find. why antiviral treatments are so scarce. age-related macular degeneration may lead to severe vision loss. and if you're taking a multivitamin alone, you may be missing a critical piece. preservision. preservision areds 2 contains the only clinically proven nutrient formula recommended by the national eye institute to help reduce the risk of moderate to advanced amd progression. 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>> i wasa lot of stories about w people's health has declined very fast in a matter of days. i know that me being overweight just kind of worried me. >> reporter: despite being boosted, clay's bmi of 35 placed him at higher risk so clay's doctor prescribed him paxlovid, an antiviral that has been shown to reduce hospitalizations by nearly 90% among those at highest risk for developing severe disease. >> they're a game changer and have the potential to dramatically alter the hymn pact of covid-19. >> reporter: paxlovid is a compli biination of oral pills that work by interfering with the virus' ability to replicate. based on the high efficacy, the 20 million courses bought by the biden administration could eventually prevent more than a million hospitalizations. based on cnn's calculations. but the problem is this, the majority of those doses won't arrive for months. >> there's hardly any of these pill packs around. >> reporter: dr. eric topal is executive vice president for research at scipps in san diego. he believes the biden administration should have invested in paxlovid months ago. >> had we had hundreds of millions of booster packs of paxlovid right now, we would be able so much better to fend against omicron. >> reporter: several months before the vaccines were authorized, there were at-risk investments being made. many bets being made on various vaccines and those were gambles. were those same sorts of gambles made on therapeutics? >> the fact this was the first medication that was designed specifically against this virus that i think was worth a shot. it was worth an investment. but there was none. >> reporter: so far, just 160,000 courses have been delivered around the country. and with more people currently hospitalized with covid-19 than at any other time during the pandemic, these pills will soon be in short supply. they will need to be rationed. leaving doctors like sharisha at the university of washington's harbor view medical center, with some tough decisions. >> we're using these medications judiciously and really giving them to the people that would most benefit from these therapeutics. if we open it up to vaccinated individuals, we would not have enough therapy. >> should a vaccinated person get it versus an unvaccinated? or only for unvaccinated? it's going to raise ethical and medical sort of questions. >> the availability is so limited. and more people who are unvaccinated are going to wind up in need. >> reporter: the national institutes of health guidance prioritizes treatment for those at highest risk. the immunocompromised, the elderly and, yes, the unvaccinated. >> many of the people who are seeking this therapy may not need this therapy to recover from covid-19. and it's particularly if you're vaccinated, boosted. >> reporter: there are other treatments available. but remdesivir and monocolonial antibody both require infusions. and another oral pill is the last line option being recommended. none of them as effective as paxlovid. >> yesterday my cold wasn't as worse and today i'm feeling a lot better. >> reporter: clay was one of the lucky few getting both physical relief as well as mental relief from the drug. >> once you're sick and, you know, you feel the symptoms and you're kind of like, oh, my goodness, is this going to get worse? so that kind of -- the medication helped alleviate that stress and anxiety. >> reporter: jake, there was so much enthusiasm, understandably, around vaccines, but in order for them to actually have had the supply that they wanted, they made these at-risk investments months earlier and the vaccines had some of the trial data. those same sort of at-risk investments have not really been made in therapeutics. and i think it's why we're having the problem we're having now. we also don't have enough testing and masks. people thought it was going to be the vaccines that everyone was relying on and understandably. but as a result, other things suffered. >> it's so difficult to watch your great piece there, sanjay, and not gets caexasperated. where exactly are the remaining 9,840,000? >> i know. i share your frustration here. i mean, the issue is -- first of all, this is a hard drug to make. the manufacturing of this is not easy, to be fair, but if they had been manufacturing at-risk months ago, we would be having those millions of doses available now. as things stand, what we're hearing is that the doses, the first 10 million at least should arrive by june. another 10 million by september. but we can pretty much be assured the numbers of cases are going to go down. certainly over the warmer months. and there won't be as much of demand. we need them now and they're not there. that's part of the concern. the white house says, look, they cut a lot of red tape and have tried to increase manufacturing. they're speeding up the process as much as possible but again, what is the obligation to make at-risk investments in things besides vaccines like therapeutics. >> dr. sanjay gupta, thanks so much. great report. a medical chopper transporting a baby to the hospital crash lands in a busy neighborhood and everyone on board survives. stay with us. ♪ ♪ ♪ ♪ ♪ ♪ ♪ (music quieter) ♪ (phone clicks) ♪ ♪ if you have postmenopausal osteoporosis and a high risk for fracture, now might not be the best time to ask yourself... 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