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sandra smith in new york. john, great to be with you. john: good to be with you, too. just when you thought it was safe to put your fingers back in your wallet, up go the prices again. this is america reports. dwindling supply along the west coast, and apparent causes for the uptick, ahead of a critical opec meeting, considering the largest cut in oil production in nearly three years. sandra: that big decision will be coming tomorrow. now five weeks to go to the midterm elections here at home, the biden administration has become quiet on the subject after repeatedly boasting how its actions led to falling prices this summer. john: fox team coverage to kick things off, charles payne is standing by, but first white house correspondent jacqui heinrich live on the north lawn. what is the treasury secretary now saying, jacqui, about what this could mean for inflation? nothing, john. even though administration officials have consistently pointed to soaring energy co ....
one person who will not be in the room? yeah, that s committee chairman congressman bennie thompson. he s announced that he has covid. it s not clear if the chairman will appear virtually, but he says that his covid diagnosis will not disrupt the committee s plan. members say this eighth hearing will focus on the 187 minutes the former president trump failed to intervene as his supporters marched on the capitol, swarmed the halls of congress, and did this, took over the building there. also today, a jury has now been seated in the trial of trump s chief strategist, steve bannon. bannon is facing two criminal counts for failing to comply with subpoenas from the house january 6th committee. cnn congressional correspondent ryan nobles joins us now from capitol hill. so, what is the committee hoping to learn from these witnesses, matthew pottinger and sara matthews? reporter: victor and alisyn, they re firsthand witnesses to what was happening inside the white house o ....
you have a recipe for disaster for disaster. mike: the delays and cancellations are already piling up. all signs pointing to a rough weekend. for travelers the frustration is palpable. senior correspondent casey stegall is following all of those from dallas-fort worth international airport. good morning, casey. good morning mike and dana. the folks at aaa tell us this fourth of july holiday us expected to be the second busiest since the year 2000. 20 plus years with over 48 million americans total traveling over the next couple of days where the majority by car, by air is about three and half million which is higher versus last year. only time will tell whether those holidays passengers will further bog down the airports and airlines already this morning i can tell you that more than 700 delays in more than 230 cancellations are being reported by flight aware within the united states. so cute with those long lines, weights, and frustrations. dana: like to get stre ....
the gains since biden took office. bill: the biggest rate hike in three decades. new york post, it s looking grizzly. dana: adding to the concerns is the producer price index for may out just moments ago showing wholesale prices up 11% year-over-year. all of that gets passed right onto you, the consumer. bill: it does. the price of gas holding steady, record $5 a gallon all threatening to overwhelm a white house in crisis. we begin with griff jenkins on the north lawn. good morning. that s ppi number which increased month over month is not welcome news at the white house because it rose and it is rising is an indication that inflation may not yet have peaked. that number, by the way, without going into the weeds represents what companies pay to make the things we buy and that cost gets passed on to us. by the way, bill, i doubt the president wanted to wake up feeling grizzly this morning. a bear market occurs when an index like the s&p falls 20% off a recent h ....
especially supply vendors who are getting jackhammered by rising inflation, especially the cost of gas. i remember when gas was $2.50 a gallon. it s kind of like hard to fill up your tank for just $40 now. today at ramstein we ve been watching service members put together these pallets. 1.5 million eight-ounce bottles of infant formula. i m pamela brown in washington. you are in the cnn newsroom. and we are following several major stories for you this hour on the saturday night. happening now, two u.s. military planes are set to leave germany in the next few hours loaded with supplies to help ease america s baby formula crisis. and then extreme weather across america. residents in michigan are picking up the pieces after a devastating tornado while more than half the country bakes in record heat. also tonight, tiger woods has just dropped out of the pga championship following his worst ever score at the tournament. and a group of social media big hitters have a ....