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take him behind the school and beat him up. tough guy. but he falls over with the wind, going on air force one. nobody fs with the biden except for venezuela, saudi arabia, every other opec nation. we ll explain in detail. recently, biden got on his knees, hands and knees begging and pleading the saudi s crown prince to please produce more oil. he s been begging opec as well. the same crown prince in this case that biden openly refer to as a pariah, that he accused of torturing and murdering the journalist jamal kavhogghi. opec says they will be reducing oil production by a whopping 2 million barrels a day that will reduce supply and increase the price of the a barrel of oil. this is not only deeply humiliating for joe biden and the u.s., most importantly, it is painful to millions of americans. now, gas buddies, patrick is predicting opec s decision today will drive passes up to 15 to 30cents per gland. look at this, $5 in reno. $6.42 in california. that s average. $5. ....
4% of the dow is the worst we ve seen in two years. all hit hard because inflation remains stuck and no one can get it under control. an 8.3% annualized inflation rate. the core rate, that is without food and energy, also soaring more than 6.3%. this is the fourth 1,000 point sell-off for the dow just this year. again, this was a worse than expected inflation report. now the president is heralding this inflation reduction act that some people said is actually making the situation worse. because across the board, prices are going up. he s touting the prospect of eventually drug prices going down. even if he gets that and it s a herculean leap, it would be but a fraction of the overall costs that continue to soar. keep this in mind that with inflation running north of 8%, most food and related items are running at about double to sometimes triple that. whatever progress we ve seen on gasoline and related prices has done little to affect prices almost everywhere else. and ....
it s backed off a bit, but if you look at the tech heavy nasdaq, it is off 4% and plunging. john: debbie dingle standing by with her thoughts on how this could affect her party s midterm chances. but first, to jacqui heinrich live on the north lawn this hour and rather ironic the president has a celebration of the economy this afternoon. how are they reacting to the cpi report? either the white house expected numbers a whole lot better than this or someone in the scheduling office had an unfortunate oversight and getting an earful. it is ironic they are hosting a bunch of democratic lawmakers here today to mark the signing, last month s signing of the inflation reduction act just as those new numbers come out showing inflation, core inflation shot up last month 6.3% in august, up from 5.9% in july. and that is a key metric that the fed watches very closely and these numbers are more than the 6.1% that economists predicted, the next set of rate hikes will likely be q ....
join us coming up. john: first fox news alert to an economy in crisis. americans crushed on high prices from gas to food while their retirement accounts evaporate. growing concerns a dramatic move by the fed on interest rates could send the economy spiralling into recession. john roberts in washington. sandra. great to have you back. sandra: i am sandra smith in new york. this is america reports. we are watching all of this, brand-new numbers today from may painting a bleak picture of the american economy. consumer and producer prices still skyrocketing, and hitting record highs. all has major implications for your wallet as those producers that are facing higher costs plan to pass those higher numbers down to the consumer in the form of higher and higher prices. john: national price of gasoline up 63% from a year ago and the highest ever. sandra: it is almost hard to believe, every day a new record. the white house has announced a middle east trip to saudi ar ....
/PRNewswire/ Ted D. Kellner, Todd Deutsch and Robert L. Chioini (collectively, the "Kellner Group") today issue the following statement in connection with. ....