inflation. prices fell dramatically last month for manufacturers. of course, those costs passed down to consumers eventually. the flip side, there are still banking fears simmering, futures way down ahead of the opening bell, you can see there. what all of this means as we get another big decision coming, that is, the feds, whether it will raise interest rates again. plus this morning escalating tensions after an alarming encounter over the black sea, a russian fighter jet colliding with an unmanned u.s. drone. that $23 million aircraft then crashing into the sea and the race is now on to recover it. extreme life-threatening weather continues to hammer both coasts this morning. record rain, swamping california, heavy snow, 3 feet in some areas, burying the northeast. this morning nearly half a million people without power. we are going to get to all of that, but we do want to begin with the economy this morning, this new data that just dropped, cnn chief business corres
all those visits despite the president s claim. the new york post. the business partner called joe biden the big guy in a panicked message to hunter after the bombshell lap taupe story broke. ted cruz says enough is enough. this guy, how many films has he made of himself committing multiple felonies? i have to sai, jesse, if you put out a film with you with a pile of crack and prostitutes, somebody would come knocking on your door and they would prosecute you. but if daddy lives at 1600 pennsylvania avenue, apparently the criminal laws do not apply and it is deeply corrosive to our system of justice. griff jenkins is live in washington good morning, dagen. top news for hunter biden on multiple fronts. the new york post headline you referenced appearing to finally put to rest speculation around the identity of the big guy. the subject of much speculation as part of the ongoing grand jury probe into hunter biden s business dealings. but even more telling, dagen, fox n
these are the latest numbers. what do these numbers show? okay, these numbers show inflation cooling pretty dramatically at the frakt ri floor and that s what we want to see, quite frankly, 4.6% is the annual inflation rate for the ppi, the producer price index, and month on month it actually fell, prices fell. factory-level inflation down month to month. so that s an important number. when you look at the chart of it, it really clearly shows that a peak has been put in on the inflation front here and dramatic retreat in those inflationary pressures. important to watch there. retail sales a separate government report, very important because the consumer drives so much of the american economy, right? the consumer spent less. consumer spending fell, retail sales fell 0.4% from january to february. still up year on year, these are not adjusted for inflation, but you can see how choppy it s been, the consumer spending number, the retail sales number has been pretty choppy here.
themselves tremendously by telling people don t worry about how you feel, this is how you are supposed to feel. i think bernstein was half right. we have the head winds of inflation but not the tail winds he is talking about. that strong consumer spending number i am still going through the historic data. last quarter at 1.8% was the lowest since the fourth quarter 2019. business investment not what it was. coming down dramatically. dagen, we ll get a jobs report in the next month or two that will be dramatic and fall off a cliff because all the signs are there. tick up in initial jobless claim in other reports. it is right there. as far as the unemployment rate. let s stop using that. when people drop out of the labor force and unemployment rate goes down it doesn t reflect a healthy jobs market. just the opposite. in the last jobs reports no one wanted to talk about a quarter million black americans dropped out of the labor force and 166,000 lost their jobs. real people in this econo
all of america s chicken wings, ashley strohmier. 26% up, ground beef 13% up. snack and chips up 8.2%, beer up 4%. how worried are you about the chilling effect this will have on inflation, obviously, but markets as a whole. markets are not happy. brian: markets are not happy, we saw a bad consumer spending number in december, people say, i can t eat the costs anymore, change behavior. then you get stagflattion, stagnation. if you look at the numbers, they keep creeping us back toward the 70s, that is my concern. we need a radical rethink. the president needs to get out of the box he s in and think about getting people back to work and growth. it is time to turn around f. he doesn t, it will be too late