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he s actually done. so there s never any upside in letting joe biden speak injo public. d but unfortunately for the white house, sometimes you don t have a choice. disasters happenn ha. and when they do, the public expect somebody to pretend to be president. the american economy a is currently a disaster. therefore, joe biden had to h talk. so his aides dutifully let him out to the podium today to say something edifying about it. what happened next has got to be one of the weirdest presidential briefings ever conducted. new economic numbers show has declined for two quarters in a row. that s the definition of a recession. we re in a recession. that s why joe biden had tofi hold the briefingng. and yet biden never once mentioned those numbers, not a single time other than that, mrs. lincoln, how was the play? it was completely bizarre. instead, biden simply announced that there is no recession in the united states no matter what you may have noticed aboutt your own count ....
we start today with the problem staring at us every time we go to the shops and look at our bank balance: the cost of living crisis. today we ll get the latest estimate of inflation here in the uk for the month of may. we ll go back to april to set the scene: inflation that month was running at 9%, the highest rate here in the uk for a0 years. looking into the future, the bank of england has warned inflation might exceed 11% later this year as the prices of fuel and food put pressure on household budgets. the response by the bank of england has been to raise the cost of borrowing. rates have recently been increased from 1% to 1.25%, the fifth consecutive rise, pushing them to the highest level in 13 years. our business correspondent, emma simpson, has been speaking to the chairman of the supermarket chain asda, lord stuart rose he told her that his customers have been cutting back on their shopping. if you haven t got the money, i cannot eat. iii if you haven t got t ....
thing, we win the election. i remember hearing the word wimp. he called him a wimp. wimp is the word i remember. it was a different tone than i d heard him take with the vice president before. do you remember what your father called him? the p word. the hearing included testimony that even after trump was informed violence was breaking out on the capitol, he tweeted an insult saying that pence lacked courage which the committee says led to a surge in the crowd. then i remember getting a notification on my phone and i was sitting in a room with roma and ben and we all got a notification so we knew it was a tweet from the apresident and w looked down and it was a tweet about mike pence. it was clear that escalating quickly. the committee also walked through right wing trump attorney john eastman s relentless effort to advance his legal theory that vice president pensz oi pence could on his own block certification of the election. and that theory was reject ....
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 ....