i m harris faulkner and you are in the faulkner focus . the producer price index up 11.3% over last year. now adding to fears of a recession compounding trouble for americans after yesterday s consumer prices index hit a four-decade high. notice the number on the left for wholesale prices, the goods being made for us, is cooking hotter than the inflation that we re faced with. now how long do you think it will take for them to pass that along to the consumer? will they even have a choice? former trump economic advisor explains it this way. i would like to walk through how you should think about inflation so people understand why. if you start the car at zero and accelerate 10 miles per hour per month after six months you go 60 miles per hour and after 12 months 120 miles per hour. what s my velocity right now is what you care about. we re hiding how big the increase in prices are that are affecting ordinary americans by a very large amount. inflation is startlingly high ri
not ones to write home about. 11.3% is the jump in wholesale prices from a year ago and came in lot steamier than economists predicted coming off the you know what it feels like when you buy things. consumer prices are up substantially. fastest pace we ve seen since 1981 back in reagan years. you have to go to art laffer to find that out. white house points out wages are up. here is the deal. wages aren t rising at the pace of inflation. you look at a pay cut of 3.6%. if you crunch the numbers inflation is costing the average american household $500 a month. setting on fire every single month because you aren t getting anything for that $500. bill: questions now including this how did we get here? many economists blame out of control government spending along the way. democrats are passed more than $3 trillion in new spending under president biden and they aren t taking their foot off the gas as they look to revamp build back better. let s go to mark meredith live f
settlement has been taken from the russians. you the russians not being able to make much progress. what they have been able to do, as you can see here is blow up bridges. it s one of three they have blown up. also they can halt what appears to be a counter offensive by the ukryukraini ukrainians. russia plans to cut electricity to finland. they say it s lack of payment. it comes after the country appear to be on the gentlemen of the jury of joining nato which is what vladmir putin did not want to happen. russia warned both countries if they did join. putin discussed the situation with his national security leaders and an exchange of views took place. there was an exchange of views between russia and the united states. im it koicame in form of a phone cl . the assault of the steel plant continues. i want to show you video released yesterday. it shows a ground level view of fighting at the steel plant. we don t know when the footage was recorded . you traveled to the northeas
The president does fully understand the khashoggi situation but just didn t telegraph it. i don t know if it means it will come up. from you just reported it doesn t sound like it. well, if he was going to bring it up and he wanted the world to know he was going to bring it up he could have just said that. we ll see. harris: there you go. my plain speaking colleague peter doocy. thank you. now i m joined by joey jones fox news contributor, fox nation host and retired marine bomb technician and a veteran of both the wars in iraq and afghanistan. we will lean on him mightily for expertise and guidance. always good to have you in focus. you heard the difference between what our president thinks will work, pure diplomacy, and what the prime minister of israel says he knows will work and that s a threat of force. what is your take? i think it s tough to be president biden in israel right
Nation s highest honor on four american world war ii veterans in washington, d.c. we spoke with three veterans who made the trip. hi, jennifer. today is bastille day in france where liberty, equality and fraternity are celebrated mark the day the french government bestowed the legion honor of medal who fought the nazis and saved france from being overrun an occupied. david bailey landed in normandy and fought knee battle of the bulge. the oldest veteran of the battle of the bulge that happened in 1944, and i m 100 years old. it wasn t very pleasant. 100 years old. earnest marvel of frankfurt, delaware helped liberate the dachou concentration camp.