This afternoon President Joe Biden is taking his brand on energy on the road after a fiery state of the Union Address in which he laid out the choice facing voters in november. He made a stunning indictment of the gops decision to turn its back on democracy and freedom both here and abroad, all in service of the disgraced wannabe autocrat who is The Republicans presumptive president ial nominee. President joe biden will be soon making remarks in pennsylvania. Pennsylvania is central to his hopes of prevailing in november. If todays speech is like anything we saw last night from the president he will take a blow torch to his opponent and the Republican Party. Standing before congress in front of some of the very same people who aided and abetted donald trump, trying to overturn the 2020 election, and the very seen of the crime that is the january 6th insurrection, President Biden on thursday night painted a picture of a Republican Party that has fallen so far it no longer respects or ad
welcome back to morning joe. it is 6:00 a.m. on the west coast and 9 a.m. here in washington, d.c. we have breaking news on the economy. it is bad news for consumers, it is bad news for working-class americans. it is bad news for middle-class americans. it is bad news for people invested in the stock market. it is bad news if you have retirement accounts because they will be going down. but it is good news if you re a republican running for office in four weeks. the year-over-year inflation rate barely slowed last month from 8.3% in august to 8.2% in september, the last report before november s midterm elections and the last report. a key federal reserve meeting early next month on how much they re going to raise interest rates. let s bring in cnbc s dom chu. dom, wall street s going to be partying like it s 1981, which means they re not going to be partying. going to be ugly out there. take us through it all. all right. so, joe, mika, to your point here, there s no easy
alarms about what his return to the white house could look like. you would never abuse power as retribution against anybody. except for day one. plus, abortion fwiet. the texas supreme court temporarily blocks a pregnant woman from an emergency abortion. there s no outcome here that i take home a healthy baby girl, you know. so it s hard. will the state force her to continue her pregnancy? and new charges. president biden s son hunter is indicted for the second time this year. nine new criminal counts including tax evasion and filing false returns. what would be the political impact. plus, under fire. the president s three elite universities facing backlash after their testimony at a congressional hearing on anti-semitism, and now the president of the university of pennsylvania has resigned. does calling for the genocide of jews violate penn s rules or code of conduct yes or no. if the speech becomes conduct, it can be harassment, yes. conduct committing t
the interest rate hikes are a blunt instrument. it s not like the fed and jerome powell can go in there and tweak eggs we it s well above what we paid last week. the consumer out there is not paying attention to .1%. it s better than a .3% increase in the statistics. they are paying attention to the print at the gas pump and the grocery store. you go through these routines and you know what milk costs. you know what bread costs and chicken, fish, dairy, all these things you have been going to the grocery store forever. when you get these chunky double-digit price increases year over year, that s not being suspended by this pullback in core and non-core inflation, you don t care what the statistics are. moreover, this is a big cause between 7% headline inflation and the 2% target that the fed wants. it still means the fed is going to hike. maybe by half a point.
Candidates. they re actually some of the worst i ve ever seen in american politics running for the united states senate. but today they could go out and talk about inflation. and it will connect with middle-class voters. yeah. herschel walker s stories about pregnant cows notwithstanding, they want him, because he s not a good candidate, to talk about inflation, and now they have that. that s why tom cotton and rick scott went down there to ensure that the subject would be crime, would be inflation, would be immigration. so they re just going to hammer this in the face of everything else, talking about democracy, doug mastriano s case in pennsylvania, running for governor, other candidates like him or election deniers. they are going to talk about this number. they re going to say everything else you re hearing from the democrats is meaningless because you can t afford to pay your rent, you can t afford your health insurance anymore, and because a loaf of bread costs so much, that s