expected to defend the banking system after his government scrambled to prepare emergency measures to bail out silicon valley bank customers. here comes the president coming up to the podium. president biden: before i leave for california, i want to briefly speak about what is happening in silicon valley bank and signature bank. today thanks fought quick action of my administration america will have confidence that the banking system is safe. your deposits will be there when you need them. small businesses across the country that deposit accounts at these banks can breathe easier knowing they can pay their worker and pay their bills. hard working employees can breathe easier as well. last week when we learned of the problems of the banks and the impact they could have on jobs, some small businesses and banking systems overall, i instructed my team to act quickly to protect these interests. they have done that. they have done that. on friday, the government regulator in char
adding 390,000 new jobs, the unemployment rate also holding steady the at 3.6%, the lowest since february 2020. however, the positive report is little comfort to many americans who are shelling out more money, well, for just about everything these days. president biden blaming the price spikes on vladimir putin and the war in ukraine. fighting inflation is my top economic priority. the two the challenges on the minds of most working families are prices at the pump and prices at the groce ifly store. grocery store. both of these challenges have been greatly exacerbated by putin s war in ukraine. eric: lucas tomlinson is on the north lawn of the white house with more. reporter: hi, eric. the good news here, the labor county says nearly 400,000 jobs were added in the month of may. the bad news is many people are leaving labor force altogether. president biden spoke from delaware yesterday where he s spending the weekend. i want to speak very briefly today the about our eco
economic news, the productions with nearly 400,000 new jobs added last month but gas prices hitting another record high today. families nationwide struggle to find baby formula. as the humanitarian crisis continues at the southern border, d.o.j. appealing a ruling to keep title 42 pandemic restrictions in place. tennessee for hogan senator marsha blackburn is standing by and we have fox team coverage lucas thomases at the white house, griff jenkins of the border but christina : is live on the killing of that former wisconsin judge and what else the suspect might have planned. apparently the 56-year-old suspect had a list of targets including prominent government officials. the suspect is listed in critical condition right now, police say he entered the home of a former judge, shot and killed him and he went into the man s basement and shot himself. the sheriff s office, call about shots fired around 6:30 a.m. friday in the township of an hour northwest of madison in rural
gasoline. peter doocy starts us off with a complete picture of the economy live from the north lawn, good evening, peter. good evening, bret. officials around here saying two things that sound like they both can t be true at the same time. on the one hand they say they think the president s economic plans are working. but, observed they say they know that people are paying more than ever for essentials. fighting inflation is my top economic priority. and despite rising prices on just about everything, biden officials are celebrating a stronger than expected 390,000 jobs created in may. we aren t likely to see the kind of blockbuster job reports month after month like we had over this past year. that s even though the economy remains 822,000 jobs short of pre-pandemic levels. inflation has been an issue since last year. before russia invade ukraine but the president continues to blame. putin s war in ukraine. putin began amassing troops. this is a putin price hike.
sugar high is wearing off and this is the ugly stuff that s left. dana: is there more ugly to come? there could be. the stock market. here is what is scaring me this morning. red and yellow flags. bond yields are coming down hard and crashing. the stock market is coming down at the same time. that is a signal of fear. that s a flashing red sign of fear. we don t know all the answers. the best thing to do right now in terms of the markets is just they are going to a place where you say the market is going hay wire. it should not have been a contagion event. this is a different kind of bank. it could have gone broke by itself. people with $250,000 would be paid. small businesses could have gone back to venture capitalists and say help us raise more money.