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Reserve. one million barrels per day for six months through the end of september. despite that, gas prices hitting a record high $4.37. the president again freezing student debt payments through the month of august just ahead of the midterms. some progressives are calling on the president to wipe out student debt. there s a lot of pushback on that effort, but also fixing the family glitch and the affordable care act which will benefit about 5.1 million americans, half of which are young people, children, by allowing workers who have access to the affordable care act to then share it with their family. underlying all this is the frustration among americans, a lot of it directed at the white house and the federal government, that they re not doing enough to combat inflation. the president s effort today is to try to demonstrate what they say they are doing and how their plans compare to those of their political opponents on the other side of the aisle. peter alexander at the white hous ....
Congress, the white house is preparing for a shortage of vaccines for the fall. that could happen around the same time. it warns up to 100 million americans could get infected. right now the white house wants to make sure there s no shortage of military equipment for ukraine. president biden just signed a bill that will help ukraine get the weapons it needs to fight russia. in ukraine, russia is stepping up its assault on the strategic port of odessa and that steel plant in mariupol. without any major wins for russia, it raises the question, where is the off-ramp for this war. we ll have more from ukraine in just moments. we start with our team looking ahead to president biden s speech on his plan to fight inflation. nbc news chief white house correspondent peter alexander, senior markets correspondent, dominic chu. the president is scheduled to speak and it sounds like he s also going to take specific aim ....
The black market, so to speak, or doing that in a facebook group, there s a very high risk there. experts do not recommend doing that as we try to weather out the storm for this shortage, jose. jo, this is so difficult, so critical, so dangerous. if you re lucky enough to have a doctor that you can call, and if a doctor will answer your phone calls, that s already a very difficult thing. but then it s just like this is it s a daily need. yes, this is a daily need. what you re seeing is the supply chain problems are exacerbating it. it is definitely hitting communities, black and brown communities harder than others, low-income communities, of course, hit the very hardest. as you look at the very picture when it comes to inflation, the affordability of food and gas right now is the number one issue for voters across america right now. this makes it only worse, jose. ....
Pnc bank: see how we can make a difference for you. 30 past the hour. we re back with a live look at the white house, the podium there where the president is set to be speaking from shortly. he ll be laying out his plan to fight inflation and lower costs for working families. we will, of course, bring you his remarks right here live as soon as he starts. inflation is one of the factors experts are pointing to in the alarming shortage of baby formula. 40% of america s baby formula supplies, out of stock according to data from the end of april. that s a jump from 29% in march. nbc s jo ling kent joins me with more on this. i know some retailers are limiting how much formula can be purchased. that s right, what we re seeing from cvs, walgreens, ....
Take a listen. reporter: unfortunately one of the consequences of prices going up with just about everything is there s a growing number of people in need of the most basic necessities. at the north texas food bank they ve seen a rise in hungry families that absolutely matches that record rise in inflation that the fed is now trying to tackle. this morning wall street is bracing for another bumpy ride. nasdaq going out with a loss of 4.3%. the selling continues. reporter: with the dow dropping more than 650 points monday and the s&p 500 seeking to its lowest level in more than a year, what s driving the market selloff? rising interest rates set by the federal reserve aimed at stamping out rampant inflation as consumers pay more for food, rent and fuel. gas prices hitting a record high today. now $4.37 nationwide. in chicago, some drivers are waiting in line to fill up. i was here friday, and the line was all the way out, so i actually left. i just did morning drop-off and ....