will janet yellen take the fall for that transitory b.s., will it be jennifer if granholm for all her cracking up about the price of gasolining? great panel and great content. thank you, everybody. mark tepper, dagen mcdowel, kevin has especially, steven schork and stephanie pomboy. we so aappreciate all of you and your expertise. we'll be back tomorrow, same time, same place. "varney & company" begins right now. stuart: great show, maria. good morning to you and good morning to everyone. bad news on the inflation front, consumer prices rising, energy prices hitting new highs. all right, let's go. here are the numbers. the consumer price index went up 7.9% in the last year, that's another 40-year high. these numbers are for february, that means the spike in energy prices in the last 10 days is not included. the energy spike continues. the average for a gallon of regular gas is now $4.32, and that's up at 7 cents just

overnight. diesel crossed the $5 mark. the average is now $5.06. we are in an inflationary spiral. we've not seen anything like this in two generations. i'll get to the financial market reaction in just a moment, but thirst first this: terrible see. a maternity hospital bombed, three dead. in that city they are burying the bed in -- the dead in mass graves, this is europe. president zelenskyy made a desperate plea for help. he wants air cover, but america is not going to give it. we're saying no to a no-fly zone and no to the use of polish jets. vice president harris is in poland. she was asked what we will give ukraine instead of jets. she did not answer the question. earlier this morning high-level talks were held, but there was no agreement. in fact, foreign minister lavrov said giving jets to ukraine would be dangerous. that's a warning. all right. let's get to the markets dealing

with the inflation news and the grim war news. the dow's going to be down about 400 points after yesterday's huge rally. the s&p down as well, 50 points maybe. and the nasdaq off another 200 points,es again, after a big rally yesterday. oil way down yesterday, coming back today, price now at $114 a barrel. interest rates rising this morning. we've got the yield on the 10-year treasury per literallously close to the 2% rate. bitcoin is back below $40,000 a done, 38,9 is your price. boris johnson backing up broun -- britain's threat to the russian oligarchs, seven of them sanctioned including the owner of the chelsea football club. that that club can no longer sell tickets, it can't sign new contracts, and it cannot be sold. another owns a big chunk of russia's aluminum industry. aluminum prices now going straight up. what a day.

thursday, march 10, 2022. "varney & company" is about to begin. ♪ ♪ stuart: inflation and war, what a day, as i said. consumer inflation up 7.9% this year just in the past year, i should say. brian brenberg joins us for the hour. is inflation at level going away anytime soon? >> i don't see it. this is the problem and p of course, the feed into it now is going to be oil and gas which is going to make it worse. wages cannot keep up with this, stuart, which means this hits spending. and if you hit spending, now you're not just talking about inflation, you're talking about growth, you're talking about stagnation. i really think we are seeing stagflation starting to rear its ugly head here. i'm concerned about it in 2022, and i'm most concerned because i don't think this administration has any will to try to solve

this. stuart: how can the federal reserve ignore 7.9% inflation at the consumer level? >> well, they can't ignore it, they've got to do something. they've got to raise rates, but if we really get a slowdown, what are they going to do then, stuart? are they going to do six, seven rate increases this year? i do not think they can do that. they might get to that rate increases in march and then at that point i really think this is going to become tricky for them. stuart: markets are watching this carefully, obviously, they always do. brian belski joins us this morning. i'll ask you the same question. well, i want to know what you think the federal reserve's going to do, because that's the key thing here. you've got rampant inflation, a war going on. what's the fed going to do? >> i think the fed has to raise rates. they've already forecasted that that they're going to. i'm with, i'm with your guest, i think they're probably going to do 25, 25, 25 and wait. they may not even get there

depending upon in terms of the three 25s depending on if growth decidedly slows. one of the most marking things you said morning, stu, is that this increase in inflation does not take into account the rising oil prices we've seen for the last ten days. so we're to going to be talking about this year-over-year, month over month change in cpi continuing to go up for the next couple months, and it's just delaying the eventual slowdown in inflation which we still think's going to happen, but now it's just kind of pushed back. stuart: well, why should i buy stocks today or in the next four or five months? why should i buy into the stock market when you've got rampant inflation, a federal reserve that's really in kind of a mess and a war going on? i mean, that's not a -- it's hard to make the bull case today, isn't it? >> well, that's when you should buy stocks, when you can't make the bull case, because if everyone's so negative, you want to try to find the positive. i still think the u.s. is the

safe haven, and canada's not too far behind with respect to earnings stability. we do want to be an investor longer term and pick your points. yesterday, obviously, we had that strong rally. we're going to have more like that but, oh, by the way, more days like today as well. the market has this tug a war on a short-term basis -- tug-of-war. what should we focus on, ukraine or inflation? i think the longer term picture is leery inflation, but -- clearly inflation, but we can't ignore what's happening in europe -- stuart: an awful lot of people in our viewing audience who follow the market very closely, and they're down 20 or 30%. and we've still got folks saying you've got to get into the stock market. brian? >> well, if they're down 20-30% if, they're massively underperforming the market. the s&p is down just over 10%. the portfolios that we run aren't down 10%, so it's a

matter of your discipline and process, and that's why we've always said be moderate in terms of growth and value, small, mid and large, and be very deliberate in terms of what you're buying. we have the best companies in the world, stuart. sometimes they're on sale. obviously, yesterday, they led the way, so this is why you have to be an investor and not try to time the markets. stuart: i will no longer call you bullish brian belski. i think you'll agree, right? >> no, longer term we think we're in a bull market, but you have bear markets, stuart, within secular bulls and, unfortunately, what we're going through here is a nasty correction. we're not in bear market territory for the market overall, but let's be careful in terms of labels. we're still bullish longer term. stuart: all right. we hear you. brian, see you next week. >> thank you. stuart: look at the price of gas, surging again. you're at $4.32 the national average, up 7 cents overnight. california's gas price at $5.69, up 12 cents overnight.

if you need diesel, well, that's $5.06 a gallon, up 95 cents this week. if you're looking to blame the white house, jen psa says look elsewhere. roll type. >> you would -- roll tape. >> i would say since president putin began his buildup on ukrainian borders, the price of gas in america has gone up 75 cents. stuart: so she blames putin. who do you blame? [laughter] >> i blame a president who goes to texas and when he's asked what's going to happen to gas prices, he says, oh, they're going to go up. go to texas and tell people we are going to pump oil. that diesel price, stuart, that's what kills me. those guys go total pump, they've got big tanks in those trucks, and they are paying hundreds of dollars more every time they fill up right now. that's going to field into inflation. stuart: all right. look who's with us now, we have with us will cain. he's at a diner in palmer, ohio.

that town has a very high number of ukrainians living in it, and you've been talking to the folks there. will, who do they blame? who are they angry at, putin or biden? >> reporter: well, here's what's fascinating, stuart. i'm sitting here right now, southside diner, palmer, ohio. why? largers ukrainian-american population in the state of ohio, and the state of ohio's the fifth largers ukrainian population in the united states. i've been talking to people all morning long, and this couple is fascinating. this is alexei, he's from belarus, irina is from ukraine. they're married. and they're experiencing this moment in history together, and i'm going to make no bones about it, alex wouldn't, he blames putin to answer your question directly, but irina has family in ukraine, and you've been talking to them ask hearing some of their experience including your cousin who got out of kyiv literally with four minutes left and taking bullets on the train. >> yes, correct. and it was very devastating time

for us here because we, at the end of the day, we go back to a warm house, we have electricity, water, it's peaceful, and my family is going through such tragedy and so is the rest of this people in ukraine who don't deserve what's going on there right now. i, when the war broke out, i couldn't sleep at night, and every ukrainian person that i came in contact here is sharing the same experience. my morning didn't start with coffee, it was checking to make sure my family's okay and they're alive and they still have a roof over their head and something to eat. it was heart a breaking. majority of my friends and framely are in western part of ukraine now which makes me feel a little bit better because it's not as terrifying as other areas of ukraine. so i am very hopeful, very hopeful that ukraine will come out of it. we will fight off russian

government and people will go back to the usual state of peace and happiness as they used to be. >> reporter: yeah. by the way, she emigrated here in 2004, i believe? 2003. alex came in the '90 from belarus. we've been talking about the relationship between belarus and ukraine and the thirst for independence in ukraine may or may not make it way to belarus. >> no, it may or may not. however, i think as the regime change, hopefully be changed, you know, on time and hope that it will change soon, i think there's a thirst for that independence in belarus. i think the people want it, the government doesn't. hopefully, the people eventually prevail. >> reporter: talking about the people versus the government in belarus, alex did point out this is what happens when you give up their guns because in belarus, of course, they have a government they cannot rise up against. it's been fascinating, stuart,

talking to people hearing a lot about inflation, gas prices, the impact on everything or from fertilizer to, you know, obviously your business trucks running all day long. it's been fascinateing talking to americans right here in ohio. stuart: absolutely. it's a tough day in the news business, and that's a fact. will, thank you, sir. check the futures again, we just headed further south, down 45 on the dow, down -- 425 on the dow. the evils of war on full display. a russian airstrike hits a maternity hospital in ukraine killing 3, injuring many more. -yard line's -- ukraine's president says the people are struggling to survive. watch this. >> they block our cities, the biggest cities in ukraine, and they've -- and because they don't want our people to get food or water. stuart: how much longer can the people of kyiv holdous? -- hold

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stuart: the war news from ukraine just gets worse and worse. trey yingst is in kyiv and has a report from the capital city. what do you have, trey? >> reporter: stuart, good morning. we've got a sad update for you following that russian strike yesterday against a maternity hospital in the southern port city of mariupol. officials say three people were killed including a child when the russians targeted this building filled with civilians. 17 others were wounded, and today ukraine's president is

calling this a war crime. you can see extensive destruction and people stuck there trying to be rescued by those in the southern city of mariupol. the deputy mayor detailing other disturbing actionsgy russian forces saying since the invasion began more than 1200 people have been killed can -- with dozens buried in mass graves. this does come as ukrainian's say russians which disconnected chernobyl from the power grid, emergency generators turned on there, but one member of parliament called this a very dangerous situation adding if russia will not cease fire, they expect radiation leaks. the international atomic energy agency says they see no critical impact on safety at this point. as the russians continue to suffer significant battlefield losses, the white house is warning this week that russia could stage a false flag attack that involves chemical or biological weapons as a pretext to further military action. today vice president kamala harris spoke alongside the president of poland and

discussed a possible nato response if russia expands their actions. take a listen. >> the united states' commitment to article v is ironclad. the united states is prepared to defend every inch of nato territory. the united states takes seriously that an attack against one is an attack against all. >> reporter: here in the capital of kyiv we've heard air raid sirens today. russian forces continue to target this city from the air and the ground. stuart. stuart: trey yingst, thank you very much, indeed, sir. in the mid manying of it as usual. all right. in a moment, we're going to be joined by the mayor of kyiv, vitali klitschko. after the break he's coming on the show. dow's down 400, nasdaq's down 200 after yesterday's big rally. the opening bell and klitschko next.

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big rally yesterday, we're talking volatility now because this morning the dow will go down about 400 at the opening bell and about 200 on the nasdaq. we got very bad inflation news this morning. gas, diesel, overall consumer prices, all bad news. down goes the market. the war news ain't great either. now look at this, it's a tweet. jen psaki, she's warning that russia could use chemical or biological weapons in ukraine. there's a threat. vitali klitschko is the mayor of kyiv, and he joins me now. your honor, if you can hear me okay, it's good to have you on the program. i see your brother there as well. do you have any defense against chemical weapons in kyiv? >> to be honest, we never have idea we need chemical defense, defense against chemical weapons, no.

stuart: how much food and water do you have left? >> we have reserve for, i guess, ten days. thank you very much for help for red cross, for organization who send right now medication, food, the stuff what people need because the infrastructure right now is -- the economy doesn't work and -- [inaudible] stuart: are you absolutely determined to stand your ground and not give in at all? >> we are determined to defend our home. this is our home, and there is nothing that can stop us. even though there are people fleeing the country, there are a lot of people that are coming back to the country and to the city of kyiv. city of kyiv is not going to be

giving up. so definitely we're going to stand ground. we stand in kyiv, we -- kyiv is not just a building, kyiv is the people who live here. and we ready to defend our family, our houses, our city and our wallets, and we will fight for that. and i'm more than sure there is no chance to be here in kyiv. that's why we're ready to fight. stuart: are you on the hit list? we understand that putin has a list of prominent ukrainians who would be killed or captured in the event of the fall of kyiv. are you on that list? >> at least 40 million ukrainians because already thousands of ukrainians die. millions of --

[inaudible] this war actually in the least every ukrainian believes, and you know what? i'm not afraid to fight. i'm if my home. ukraine is peaceful nation, peaceful country. we was never aggressive to anyone. but if someone comes with weapons to our hometown, to our home country, we will fight. stuart: thank you very much, gentlemen. we appreciate you being with us today and we offer you our support. >> thank you. keep supporting us. thank you. stuart: yes, we will. thank you, sir. the market shows a lot of red ink three minutes before we open the market in the morning. gary kaltbaum joins us. we've got a selloff, a small selloff this morning, and we've got very bad inflation news. it looks like we're in a bear market. who do you blame?

>> well, it starts out with jay powell and the massive printing of money creating bubbles and massive overvaluations which turns into inflation. then you have powell and biden that said it was transitory and did nothing about it, and now fast forward to today. the clear lack of flexibility on energy policy is not helping. of course, russia is part of what's happening in the markets, but i'm just amazed the things that are coming out of the mouths of d.c. that just make no sense, illogical. if you want oil prices to tank and tank big with, all you've got to do is say the words we're going to amp up production, but the market knows different, and that's a shame. and that's why you're seeing, you know, prices on the inflation front just continue to be where they are. stuart: why should i buy stocks when the inflation rate is picking up, interest rates are going to go up and we've got a war in europe? >> last week i said to you be patient, there's no reason to

buy right now, and i stick with it. the only bull markets right now are inflationary stocks as well as very much defensive issues as well as defense. of course, when you've got war, you see lockheed martin go up. but otherwise i'm in oodles of cash, and i'm just going to be patient. you know, these type of markets take time. if we have another leg down, if we break the lows of the last 6-8 weeks, we're going to have another vicious drop to the downside to. the good news is, stuart, i have to end on that, bear market will end. bear markets have ended since the beginning of time, and we're going to have a monstrous bull market when this ends, and we're going to have 5 and 10-bagger stocks with great companies from america going forward. but you've just got to be patient right now. stuart: how long do i have to be patient for, is a very good question. how much patience time do i have left, gary kaltbaum? >> i wish i knew, but you've got to watch policy because more now

than ever, d.c. interferes with free markets and, unfortunately, i say this with no joy, their reactions to what is going on on the ground with the economy is just the opposite of everything they should be doing. just remember, the president is still pitching higher taxes and more government coming out of the pandemic and with inflation going on. stuart: not good, in our opinion. gary kaltbaum, thank you very much, indeed, sir. it's 9:30. the market has opened, obviously, to the downside. you can see up 600 yesterday with, now we're down 325 in the very early going. left-hand side of the screen is the dow 30 stocks. 25, 26 of them are in the red, so it's a down day thus far. the dow is down 1%. the s&p 500 is down almost 1%. the nasdaq composite is also on the downside to the tune of 1.1%. have a rook at big tech. i presume they're under pressure morning. yes, they are. i've got one winner, and that's

amazon. and there's good reason for that. [laughter] i'll get into that in just a moment. microsoft is down, apple, alphabet and meta platforms are down. let's have a look at amazon. it's up $110. this is what happens when you do a 20 for 1 stock split. have at it, super. susan: you know, it was up 10% in the afterhours yesterday, so you're only at 4%. some might say that would be a bit of a discount. first stock split in 23 years, you remember that, right? 1999 was the last one -- [laughter] fourth one since amazon's ipo in 1997. stuart: i've often wondered why don't these mega stocks, why don't they split? why is amazon splitting now? susan: okay, so the reason why they don't split sooner is because we live in an online trading world, right? that means you don't have to buy a $3,000 amazon stock, you can buy a small sliver of it these

days in this computerized world. i would say the main motivation for a lot of these companies because amazon is joining google, nvidia, apple and tesla, they want included in the dow jones industrials, right? that is price affected and that means if you include it in the dow, index funds have to buy the stock, and that's why the stock rallies the way it does. and i think it's psychological too, don't you think? the fact that it's going to be 20 for 1 at the end of june 3rd, so much cheaper. okay, i can afford to buy amazon. stuart: you can speculate and buy like a google, down thousand bucks a share on -- couple thousand bucks a share on the expectation that going to split. susan: only going to be worth $100, and that's the cheapest you'll get google's stock since early 2000s. you're looking at a 4% rally for amazon, roughly $40-50 billion in value creation. that means new ceo andy jaffe has created as much value in 24

hours as jeff bezos took almost 12 years to do after its ipo in 1997. stuart: i'll run with that one. susan: a lot of big numbers. can i give you my perspective on the inflation figures? i saw the fed if funds rate, it's almost 100% probability we're going to get an interest rate increase, right, in just a few days' time. look at the market volatility. yesterday we saw the best day since, what, i would say octobes after the worst day in october 2020, in one week. one day right after the other. this type of market volatility, does it tell you that we're near the peak of pricing in. stuart: does it tell me? i have no idea. [laughter] i absolutely do not know. i've lost my shirt the that's few months. -- the last few months. susan: you have to stomach the ups and downs. susan: should someone of my age, i know you're big on this, if

i've got spare cash, jump? is and buy more -- jump in and buy more big tech? susan: i think if you have 30 years leavitt, i'd say, yes -- left, i'd say, yes, especially with the type of value creation and business, $100 billion in three months -- stuart: you know, brian, that was very diplomatic. >> i didn't know you were having a financial add adviser. this is interesting to be in on this. susan: many years. stuart: crowdstrike, it's up 10%, and you'll explain why. susan: cybersecurity. fantastic quarter. i saw an even better forecast. they're guiding for their first $2 billion plus sales year this year, and that's actually 40% more than wall street estimates, 40% more. profit was also 40% better. that's impressive, don't you think? stuart: there's a whole bunch of corporations going to crowd crowdstrike and saying protect me. susan: amazon is one of their

biggest clients. and that's why crowdstrike expects recurring revenue which is subscriptions like amazon, it's up 65% from a year ago. stuart: there's a company called asana, which i think is way down. i don't even know what it does. susan: what it does is it aggregates all the remote software that you use like your oktas, workdays, etc. see this is what i have to do, brian. [laughter] asana says they will lose more money than anticipated this quarter, and that's despite the fact they had pretty good results to end last year. you know who's the founder, right? the billionaire cofounder of facebook, dustin moskovitz. he has actually been single-handedly going into the market and picking up the stock. so you're looking at -- now he owns 54% of all the outstanding shares. so if it goes up, he gets rewarded. if it goes down, he loses money.

stuart: every single day you manage to bring us news on tesla. susan: i love it. they're raising their prices on the model y. you don't own a tesla. okay. are you going to buy one for rachel or any of your daughters if they ask? no. [laughter] because it's going to cost you $1,000 more for model y, and this is something that a we've seen, the impact of higher prices impact other ev makers as well. the good news for tesla, expected to start rolling in berlin by the end of this month, right? isn't that impressive? stuart: is it possible that all the ev makers are down because of this problem with nickel? susan: well, that will eat into their margins, and we'll hear about that, hopefully, when rivian reports results after the bell today. rivian had to raise prices on their trucks by 20% last week because of the semiconductor shortage going to impact them for at least another year, and we'll see. i think nickel, which will add

$1,000 more per car for evs cold morgan stanley -- according to morgan stanley -- stuart: that nickel market's gone crazy. the london metals exchange is still closed. stuart: susan: nickel. susan: new commodity lanes, i love it. stuart stuart cryptos are all down following stocks. any comment? susan: that is the correlation these days. crypto isn't digital gold anymore. think of it as risk assets. pretty much you've lost all that 10% rally that you had after that white house executive order on cryptos, right? but again i would say, look, did you see the statistics on nft trading this morning? if. stuart: huge. susan: you're making $5.4 billion in profit trading off those nfts. and this is an asset class that's not going away, mind you.

bitcoin's worth a trillion. etherium, which is what you usually use in nft trading -- stuart: professor of economics is sitting next to you. susan: what do students say about nfts and crypto? >> they love it. i feel like i'm the student right now, you're the professor because i do not -- [laughter] i'm not paying tuition right now, but i should be. stuart: you'll never get her off the set. susan: i like brian. stuart: show me the dow winners. chevron. bounceback for oil, i guess. merck, verizon. no big tech names. s&p 500, amazon, of course. now it's up $122. splitting 20 for 1, okay? nasdaq leaders, amazon, of course. but i see losers -- activision blizzard on there. a move to, what is it, $85 a share? susan: that's right. look at that. sharp. stuart: let's move on. americans have a lot to say about high gas prices. roll that tape.

>> because, like, living paycheck to paycheck. it's $5 a gallon. >> it hurts us regular people who don't have a lot of money to [bleep] like gas. >> you can run but you can't hide from inflation. stuart: i like that, you can run but you can't hide. more reaction coming up for you. should 5-year-olds be taught about sexuality in the classroom? many on the left say, yeah, do it. they're pushing back against a florida bill banning gender identity discussions in grade school. speaker pelosi forced to cut covid funding off the spending bill after a revolt from her own party. we'll break that down, the drama from capitol hill, next. ♪ ♪

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stuart: the house passed the $1.5 trillion spending plan, and it includes $13 billion for ukraine, but it does not include

covid relief funding. if aisha hasny on capitol hill. >> reporter: believe it or not, covid funding is what progress is were fighting about all day yesterday, and that was holding up some pretty time-sensitive legislation that included very important awed for ukraine -- aid for ukraine. lawmakers wanted to get it done by tomorrow. lawmakers released thousands of pages of a massive, massive $1.5 trillion bill to avert a government shutdown. house democrats, they tried to move on a vote wednesday morning, but it was stalled by liberals who were shocked at the $15 billion allocated for covid in this package. mind you, stuart, congress has already dished out nearly $6 trillion for covid since the beginning of the pandemic, and progressives wanted more, and they were upset because a lot of that one was -- money was already allocated for states. so house speaker nancy pelosi

decided she was going to strip out the covid funding piece altogether to salvage the rest of that package. it got a little heated when i asked her about all the drama. you're blaming republicans for the delay and the situation with the covid relief, but you didn't have vote within your own party. >> no, no, no. that's the way it is. let's get, let's grow up about this, okay? we're in a legislative process. we have a deadline for keeping government open. we have a widening negotiation. it has to be bipartisan. we've got a war going on in ukraine. >> reporter: let's grow up about this. well, lawmakers finally did vote and got the package passed late last night. it includes, stuart, $13.6 billion in aid for ukraine, talking about humanitarian and defense dollars with rare bipartisan support. and, stuart, the whole mess, the whole drama over this apparently took so long that it actually

led to democrats having to postpone and cancel several events on day one of their philadelphia retreat which, by the way, ironically included a seminar on how to resolve conflicts. so there's that. stuart? if. stuart: there's a great deal of humor in your report there. that's pretty good. >> reporter: little bit. [laughter] stuart: great stuff, see you again soon. congresswoman kat cammack joins me now from the state of florida. they didn't pass any covid money. what's your response so that? [laughter] >> well, it's good to see you, stu. my response is thank goodness they didn't. [laughter] there's currently $800 billion, $800 billion with a b of unspent covid money still out there. and they want to spend an additional $ -- 15? give me a break. this is dems in denial. they are so out of touch with what the american people are going through and what we need that they are more concerned

about getting to their retreat in philadelphia with dj jazzy jeff than actually doing the work they are hired to do. stuart: you're incorporating a little humor as well. [laughter] it's disgust gusting, but you're having a good time here. how about this, we're trying to get oil from venezuela and iran rather than drill for our own. can you do anything about that? >> you know, i think this was a good first step taken last night with the russian oil ban that we passed. it was a bipartisan measure, and it's a good first step, but it doesn't go nearly far enough. there was no funding for authorizing the restart of the keystone type -- pipeline, and there has not been a single permit authorized by in the administration since they took office. we have six permits outstanding on lng export terminals. we need to get serious about domestic energy production. we can't we -- rely on iran or venezuela, we need to look to our own backyard, and we need to get going now. stuart: for another interview at a later date, i'd like to press

you for an increase in defense spending bearing in mind what's going on over there, but we'll get to that at a future point. kat cammack, we do appreciate it always. >> thank you, stu. stuart: sure thing. britain has added russian oligarch roman abramowitz to their sanctions list. he can't sell the chelsea football team. >> well, that football club is going to get creamed. the question is what difference does it make? these guys could have their assets frozen, lose yachts, apartments, revenue, but does it change what putin does. are they going to put pressure on the regime. that's the point, right. >> that's why we're doing it. right now some of them are saying let's end the war, posting on instagram, but does putin care? the guy's not online. that doesn't bother him. what's the effect on the war? stuart: but it's legitimate to

take or freeze their money on the grounds that they made it in the most unfortunate way when the breakup of the soviet union and putin allowed them to take their hundreds of billions. >> that's how they got it, i agree with that. the reason we're going it -- doing it now is because we want it to have an effect on military operations. that's obviously inconclusive. it's not about chelsea football club, it's about putin and ukraine. i don't care about soccer at all, by the way. [laughter] stuart: all right, brian. we are struggling with high gas prices and rising inflation. biden's top energy official doesn't want to answer any questions about it. roll tape. >> is there any talk about bringing iran back to the table? >> gas price miss. >> and what's your name? >> andrew murray -- >> murray, from fox? [laughter] stuart: that did it. we're from fox. can't answer a question from fox. certainly not. jason chaffetz takes that on. play ball, or not.

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31st. brian brenberg is with us. look, the players' union says, look, this is completely unnecessary. i don't understand it. what's the basic problem? >> it's all about money. the players' union wants the teams to spend more money. there's a luxury tax. if a team spends more than that, they get taxed on it. players want that tax level to be higher, why? because they want to get paid more money, the owners don't want that. players want higher minimum salaries as well. so they're fighting other money and rule changes as well. but this is really about the money, and it's really about players getting more of it at this point. the sense is owners have taken a big bigger share over time, players want some of that back. stuart: as a sport, i mean, that's not a good thing. >> it's terrible. this is the second time in three years they're going to play a shortened season. fans want the game to happen ors, they want something normal in life. they're watching major or league baseball squander it. that's a very bad look for this sport. stuart: been a long time since is i've actually watched a baseball game. >> we should go to a game.

eat a hot dog, bring your glove, catch a foul ball. it'd be fun. this is it, we could see a mets game. stuart: why would i see the mets game? >> you've got to get out to queens, stuart. stuart: i've been there a couple of times. >> that's why you've got to get out there. a couple of times. [laughter] stuart: all right. quick check of the market, please, because we're on the downside to the tune of 200 points. we were down 400 on the dow. got to give you the big piece of news on energy prices. gasoline, average gas price for regular is now $4.32. how about that? new record high. brian, thank you very much, indeed, for being with us for the hour. i really do appreciate it, man. thanks a lot, sir. still ahead, dr. ben carson, bret baier, bill hemmer and pete hegseth9. the 10:00 hour of "varney" is next. ♪ ♪

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nasdaq is down 140. coming back a little. the price of oil tank, back to the tune of $2, now $110 a barrel. the yield on the 10 year treasury, we are right at, almost at 2%. bit coin $39,300 per coin. it is 10:00 eastern time, mortgage rates, you've got a number. >> it is 3.58%, higher than the 3.76% we saw and we expect a rate hikes, everyone can see the handwriting on the wall, not good if you are a new buyer and want to buy home it will get tighter and tougher and that is what people should expect on top of the other problems. stuart: i mortgage rates, to

fund first-time homebuyers. the inflation rate, 7.98% jump in the consumer price inflation rate. take us through the numbers. >> as far as i am concerned if it is not a one or 2 month transitory which we know it's not done all that matters is the 7.9% number year-over-year. food and energy are the highest increases on record and that is what people are feeling in their budget. it doesn't matter, the gas prices we've seen increase in the last month and the last year are not reflective in this number.

watch out when the next number comes out. stuart: people are talking about the grocery store and the gas pump. that matters to everybody unless you are a billionaire. now this. a year ago the left was the most powerful block in the democrat party, now they have no answer to the inflation problem they largely created which will really hurt them in november. i think some change is coming. the price of gas and other record, regular averages $4.32, diesel comes in at $5.06 a gallon. overall consumer prices rising at a clip of 7.9%. is to respond, aoc said we got to lower our dependence on oil and walked away. doing nothing about the damage done to working people which are her constituents which energy secretary graham will not answer any questions. fox reporter was pulled away when he asked about pipelines.

she, the secretary has presided over the cancellation of four pipelines that would observe 24 million homes which are silenced volumes. speaking for the president, jen psaki blamed it on flavor been ignoring the fact gas and oil prices were rising before ukraine was invented, the president blamed letter boone and the oil companies. during the campaign he proclaimed his intention to kill the wheel business and just oil company executives go to jail and now faced with the inevitable shortage of fossil fuels our president is negotiating with terrorists and tyrants, the greens look really bad when we go in hand to maduro and the mullahs. i don't see how biden can allow the left continue to run his party. today's dire inflation news will force a reversal of our energy policy.

i think we will drill and i think we will okay pipelines. maybe i'm out on a limb with this but politicians are in the business of winning elections and you do not win elections in america with $5 -. second hour of varney just getting started. let me go back to something i was mentioning. energy secretary jennifer granham refused to answer questions on the rising price of gas. role tape. >> me talk about bringing iran back to the table because of gas prices, to help with the energy crisis? >> what is your name? >> from? fox? >> that was it. you say fox and you are out. no questions asked. they have no solution and won't

answer questions. >> that is about. andrew murray is the nicest person you can meet at fox and to give them the stiff arm is like president biden saying this is russia's falls. aoc won't answer the question. the energy secretary won't answer the question, democrats not only closed the keystone pipeline the went enter anwar. they wanted higher fuel prices because that the justification for the green new deal. stuart: i think there's going to be a change which i don't think democrats want to go into the november elections with $4 or $5 gasoline. i think they will change. what do you say? >> i don't going to. politically the voters will make a change but i don't think the core of the democratic base

is going to do anything to make these changes. if they wanted to do it they could have done it opening u a anwar, expediting these leased lands, opening up the pipeline. there is no american energy plan. the president said to buy american but it did not include energy because that is the one thing he does not want to develop. stuart: in my right in saying this is what everybody is talking about? the price of gas at the pump, the price of diesel for your truck or tractor or the grocery bill. in my circle which is rather limited, that is what everybody is talking about. did you see this grocery bill? >> if you go to the line to achieve gas provider like costco you can wait 20 or 30

minutes to fill up your tank of gas to pay a few pennies which he would literally have gavin newsom in california saying we should rebate some people, states like georgia suspending the gas tax, anything to shave $.25 off and if you are a business this your bottom line. you've got to do something. stuart: newsom cut the production of oil in california. see you again soon. cnn host anna cabrera is defending the president over high gas prices. it was she blaming? >> is blaming this information. played a soundbite of what she said and we will explain. >> gas prices have hit a record high again today, $4.25 a gallon, up by $.60 in one week and while there is a lot of understandable anger and

frustration over the pain at the pump there is also a lot of misinformation about who or what is responsible. no one person or entity is in control of the price of gas. >> she went on to say the reality is us oil production is up from 2020. that is unequivocally not true. go on the website and you will see we hit peak production march 2020 before the pandemic of 13.1 million barrels a day and could have equipped that and kept going. according to the latest data where 11.6 million barrels, that is a 1.5 million barrel deficit. is unequivocally not true. let's talk about gas prices was a month ago we sought 84 sent gas prices but before that we saw $.66 increase so this is not just because of ukraine, not just because of vladimir putin. it is the administration plus

the circumstances we are under. stuart: a very good explanation was back to the markets, some red ink, not catastrophic but we are down today, david, inflation, 7.9% over the last year, highest in 40 years which i think the fed is in a pickle. what say you? >> the fed has said what they are going to do, very little of this inflation is under the fed's purview. they let it stay too long, the rebound rate is problematic but not just because of excess liquidity, it distorts asset prices, it is unhealthy in our economy. stuart: we always like to hear about dividend plays, the simon property group, what is so good about them? >> they are down a little bit.

i've been heavy in this energy theme and everyone is looking at chevron and exxon and i am saying let's look at dividend growers are down through the market volatility, simon property is down and i would love to know what tenants are not going to pay their rent because of ukraine, to lisa, you're getting a 5% dividend yield and they will be growing the dividend in the next quarter as well. we love simon property. stuart: 3 m. >> it is down. there plenty of consumer staples that are down but on a valuation basis at 13 times earnings, very cheap, over 4% dividend and they've grown their dividend more years in a row than any penny in america. stuart: i was going to bring one more but i'm flat-out of time. 4%, 5% dividend yields are very attractive.

see you later. tesla always in the news, down $23, quite a drop, 2.7%. they want to support ukraine. what are they doing? >> if you are asked to defend your country and you are a tesla employee in ukraine we will pay you for 3 months while that goes on so you can support your family. conditions are really bad right now but it won't help people if they don't have a paycheck. is one american company trying to help in any way we possibly can and elon musk wants to get in on this and show he can be part of it and he also said even though he is promoting electric vehicles said we need to produce more oil and gas and get back to fossil fuels to get through this situation. stuart: who would have thought an electric car guys as drill baby drill. can you explain to me what

twitter is doing? they found a way to get around russia's block of twitter, does that mean people in russia can now use twitter? >> on the dark web. they can circumvent and get around it. the russian government is a we don't want you looking at facebook or twitter, we don't want you to know what is happening on the ground because that is how we keep you in line so you don't rise up against us. what twitter has done is privacy protected version allows people to find out what is going on on this dark web. it's called an onion service that allows us access if they download a certain browser and people are very smart and into their technology and learning how to do it. stuart: thank you. gas prices so high that some states are pushing to suspend their gas tax was we will tell you which states are trying to do that was ukraine's first

lady makes a plea to the world, close the skies. we will take that on. secretary blinkian says vladimir putin will fail as russian forces pummel ukraine. >> absolutely convinced that vladimir putin will fail in russia will suffer a strategic defeat no matter what tactical gains it may make in ukraine. stuart: coming up i will talk to a former top gun commander who says it is time for the west to call vladimir putin's bluff. ♪♪ your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed.

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stuart: a big rally on wall street giving some of the gains that, dow is down 180, nasdaq down 140. nasdaq on a down side. amazon is up $151 a share doing a 20 for one stock split. google, microsoft, med and apple all down. there winding done business in russia, wall street's first bank to exit russia. not much impact on the stock. russian forces destroyed a children's hospital killing three in maiopol. how far out are they? >> the institute for the study of forces the battle for kyiv has begun and tanks are moving in on three sides a couple miles from the outskirts but they encountered fierce

resistance and this shows ukrainian forces repelling what the convoy suggesting putin's forces face along and. he campaign as they try to take the capital. russians lost 335 tanks, 1100 armored personnel carriers and 12,000 troops though those numbers can't be verified. russia said it destroyed 3000 ukrainian military facilities but also the maternity ward was yesterday was one of the men used by ukrainian melissas. president zelenskyy issuing a call for help. >> you have 2 -- to our people who lost their children, we didn't to do it yesterday. the world did nothing. i am sorry. it is true.

>> reporter: in turkey, talks between the foreign minister and ukrainian foreign minister made no progress with ukrainian's foreign minister said he tried to seek a cease-fire across the country but in his opinion the foreign minister of russia did not have the authority to make those decisions to the death toll keeps rising coming muriopol mass graves are being filled and 1200 bodies have been picked off the streets. for aid to get in it remains under heavy attack and we saw kamala harris meeting with the polish president, offered understanding and support for what is happening in ukraine. here on the ground they are not looking for understanding and support, they are looking for more military weapons to hold back the intending russian invasion. stuart: entirely understandable. secretary of state linkian says he is convinced vladimir putin

will fail. watch this. >> i am absolutely convinced putin will fail and russia will suffer a strategic defeat no matter what short-term tactical gains it may make in ukraine. you can win the battle, but doesn't mean you win the war. you can take is you can't take the hearts and minds of its people. stuart: we are joined by tom trotter. you want to call vladimir putin's bluff and give ukraine airpower. are you prepared to risk a wider war? >> i think they need airpower. how do they obtain that airpower is open to question. it's not going to be in the form of nato forces flying over ukraine. you are months late in

establishing a no-fly zone. this is a no tank zone, obviously not. stuart: how do we do that? they haven't got and delayed by months. how do we get to them now? >> the polish idea is a good one. who would turn that down? stuart: america has turned it down. >> let the ukrainians accept it. is there a base to put these rare claims in ukraine? the big 29 doesn't have a range to control the entire country. it is the size of texas. missouri to the atlantic, huge area. command and control first, is to air missiles to take on the russian airplanes coming across. the air defense has to be put in place, you would have to have started this a year ago. you might have had to started

this whole concept back in 2014 when they invaded crime eerie to say we need to protect our airspace was right now the ground is being controlled by the russians. it is a no-fly zone and it is against the ukrainians and the russians controlling everything, you got to control the ground first, you have to have integrated air defense in place, command and control and the aircraft. stuart: we are not going to do it. you don't have the aircraft or command and control. >> you don't have the fundamental elements in place to say let's put up a no-fly zone. it won't happen. stuart: they know where we are and where we are not. thanks for joining us. your expertise is valuable. ukraine's first lady elena

zelenskyy wrote a letter is the global media. >> we've seen the pictures of the murder of civilians and essentially she is saying the sky must be closed. ukraine wants piece but ukraine will defend its borders was we need those in power to close the sky and we will manage the war on the ground ourselves. despite assurances from kremlin backs propaganda outlets who call this a special operation, it is the mass murder of ukrainian civilians and her office has been flooded with requests to talk about this commission released this as her testimony to what happened, start your supporter of her people come a staunch supporter of her husband as well. stuart: she said close the skies, we can to do it. president biden meet with the president of colombia as a

potential oil deal with venezuela. carlos jimenez is not happy about this. he joins us next. ♪♪ ♪ cool ♪ ♪ breeze from the air ♪ ♪ wind ♪ ♪ blows through my hair ♪ ♪ don't care ♪ ♪ if people see my dancing in my car ♪ ♪ and if it shines or rains oh ♪ ♪ i can't complain ♪ ♪ it's still a beautiful day ♪

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stuart: president biden released a statement about the inflation number, 7.9% in the last year. he has a large contributor to inflation was increase in gas and energy prices as markets react to vladimir putin's aggressive actions, the president is blaming vladimir putin and the spike in gas and oil prices did not appear in february's consumer price index. the price of oil $109 a barrel. united airlines, stock price not moving in reaction to the story but $35 a share. united is going to let unvaccinated employees return to work on march 20th. president biden meets the president of colombia this afternoon. it has got to be about oil. >> the colombia president made comments that the united states is going to have to reflect on his notion that it is considering easing us oil sanctions on venezuela in light of what is happening now, he

said maduro is a dictator and you come at us but you are going to let him get away with this and sanctions and take his oil. is ludicrous. stuart: it is ridiculous. the oil deal with venezuela rattling lawmakers was man carlos jimenez, republican from florida. you represent south florida. your constituents i heavily hispanic which are they angry about doing business with venezuela? >> they are really upset especially i represent thousands of venezuela exiles in south florida. why dealing with the government that is considered a legitimate

by the united states? the legitimate governors of venezuela, they are dealing with the maduro regime which jailed tens of thousands of people, people have disappeared, probably murdered, this guy is a dictator and we said no to vladimir putin's oil and that is just great. stuart: every single person who has come on this show, and the iran oil and all that, why not produce our own oil? never had a satisfactory answer, the president never answered that question. why do you think we won't drill for our own oil? >> can't answer because it makes no sense why we are not drilling for our own oil, that is common sense, we have the ability to produce all the energy we need. a year ago we were getting over

1 million barrels of oil more the last month donald trump's nimiraston 1ng mi llion baelilof perofof mo n we an reoday oy o ttg ttard ndou rrels rrelom rrrussia.us kprode tiode itiodte ite in.rywiwa t ghe ghe ghe i i ir t thurth petroleutraneutrgas euingast a a nwi er neve is wrong wro the failinfail o o ce h e tse n a pathpa ne aelcorrecconcence no it i iwronever he hewr stuart: secretary of state blinken says we will get the oil we need from the united arab emirates. are you happy with that? >> i don't think they are answering his phone calls as i

don't think they will get the oil from them. saudi arabia won't answer the phone call. i'm more worried about iran and venezuela. iran because if we get oil from iran, now -- they are going to sign the iranian nuclear deal soon and iran will produce nuclear weapons in 2 to 3 years and then we will be funding the production of nuclear weapons for iran if we buy a rainy and oil. if we buy venezuelan oil we are propping up in a dictator in south america. stuart: you make far too much sense would you are in south florida. i live in the new york area. everyone i know is talking about grocery prices and gas prices. is at the same in south florida? >> yes. the grocery stores, food prices going through the roof, gas prices going through the roof but inflation is number one on our minds but we are 70%

hispanic, many of us are exiles from communist and socialist regimes, what is this president doing? why are we going in this direction and that is a topic of conversation in south florida. stuart: there goes florida in the next presidential election i believe. thanks very much for being with us. always enjoy your presence was that spike in gas prices forcing major lifestyle changes which are fewer people going out? >> they are. a survey shows when we had the $4 mark the average for gas is $4.32, 60% of people said they would change their lifestyle and habits and a routine. at $5, 70% of people would make the same adjustments was we are headed to that $5 mark and people can't take it in their

budget so they have to cut back because that the end of the day and putting food on the table, taking an extra trip here and there. stuart: stuart: removing the state gas tax. >> going to camp has in gas prices rise 50%, they are planning to halt at least temporarily the gas tax, $.29. michigan is looking at this, they would do it for 6 months, the gas tax is $.27. the average across the country is 31 states, the federal gas tax another 18.3 cents. the federal government should think about their end of this. stuart: okay, it doesn't change

the underlying problem. democrat in fighting for speaker pelosi to drop billions of dollars of covid funding so she could save the big spending bill. the administration does an about-face after secretary blinken after nato countries have a green light to send fighter jets to ukraine. bret baer will take that on next.

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stuart: still some red ink on wall street was the nasdaq is down 13/4 of 1%. there is reading in the stock market. top lawmakers approved $13 billion worth of emergency aid for ukraine.

13 $.6 billion. where is that money going? >> a lot of it is helping the humanitarian crisis in ukraine and nato allies but here are the details of that package the house passed this weekend the senate needs to approve, 13 $.6 billion in ukraine aid. and $1.8 billion go towards economic aid for the country but this is part of the omnibus package the house passed to avert a government shutdown friday. the reason that is relevant is a lot of talk on capitol hill about the inflation numbers sending packages to approve, leading to the deficit and increased government spending by 6%. i spoke to senator manchin about if he sees inflation

about a big concern. >> a threat to our national security because it continues to rise. >> with lots of people are depending on. number one enemy we have. >> reporter: we also talked with senator manchin if he thinks the white house is done enough to bring down gas prices and he feels we could be doing more and the sense for him is the white house, the president, congress should be doing more and can be doing more. stuart: let me jump in with a quick market check because there is some red ink on wall street, down 260 the dow, the nasdaq down sharply, down 217 points. the 10 year treasury yield is close to the 2% level. last time we checked, 198, now 199 so that is to present, very

close, the price of gold all over the place played is below $2000 an ounce. bit coin, $31,000 a coin. oil the center of market activity, $109 a barrel. natural gas moving up a little, 1.3%. gas $4.32 from a new record high. $5.69, the average price of regular in the golden state. ukraine president zelenskyy -- i've got to talk -- i want to talk about california. what do you got to say about that. >> reporter: this happens when you have an administration that lays out this climate agenda and big oil saying everyone

saying it is the pipeline, the federal lands, those are important but the fact is big oil hasn't invested in projects, it takes a year to 3 years and a ton of capital expenditure to drill an oil well. they are facing labor shortages and supply chain issues for all the parts it takes to run and operate an oil rig. you are seeing gas prices this high, give 80% of this to vladimir putin at $.66 over the course of the last year apportionment to this administration and its policies, the oil companies come you can't expect them to flickr lightswitch. stuart: california where the average for regular is $5.69. you've got to have a boutique. >> standards are high and they will get higher, prices go up. you need cleaner blends.

stuart: governor newsom, in california. >> the people who vote for the use. leaders that implement these policies, you pay it. stuart: the producer price index 7.9%, a 40 year high. edward lawrence blaming russia for the spike again. >> in the last 20 minutes president biden released a statement, at detail of two recovery, when the inflation recovery the white house is pivoting and saying this is because russian president vladimir putin. the 7.9%, 40 year high inside of that when you look at food prices that went up 7.9%. underneath that, milk prices

going up 12.4%. used car prices are up 42%. this has been driver of that inflation. the first quarter gdp will be negative, a recession in the second quarter, listen. >> president biden has given us jimmy carter's america in so many ways but the economic outlook and inflation picture are as bad as i can remember them being when i was in college. >> mother from and inflation is going up. stuart: these numbers not good. ukrainian forces are fending off russian troops, trying to take kyiv. bret baer takes us to the map after this.

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no, not going to do it. >> with the difference in providing javelins and stinkers to the ukrainians versus bigs or fighter jets was wise and more provocative? >> the transfer of combat aircraft could be mistaken by mister putin and the russians as in aeschylus or establish we need to be allowed every decision we make, the we aren't making the potential for escalation worse. that is not only not good for nato but for the ukrainian people. stuart: let's bring in bret baer. the pictures we are getting out of ukraine are horrific. with that justifier stronger military response like delivering some jets? >> there is a balancing act and a concern about world war iii from official that the pentagon and the white house. a quick look at where we are today, russian forces control the south. a lot of activity around

mariupol where that maternity and children's hospital was bombed, kharkiv still being bombed but the biggest activities outside kyiv as forces moving from all directions to cut off the capital city. i want to go closer in. this is kyiv up close. you can see these different areas, the movement of russian troops as they encircle kyiv. a few seconds ago you had the director of national intelligence on capitol hill, admiral haynes. this is about the russian action. moscow underestimated ukrainians resistance and the degree of internal challenges in the russian military which include an ill constructed plan. morale issues and considerable logistical challenges. what is unclear is if russia

will pursue a plan to or most of ukraine which we assess would require more resources. they judge it will be challenging for the russians to hold and control ukrainian territory because they're not effectively doing that right now and that, the south having the most success as far as containing but even these towns are being defended by ukrainians that are really a lot more intense and resolved and resilient at fighting back. stuart: i'm trying to read between the lines of what the national intelligence director said but it seems like the russians are not doing well. it is a negative view of russian involvement in ukraine. >> she ends by saying it's not sustainable and if you install a pro russian regime to kyiv it will be a persistent and significant insurgency.

you are talking about a long, long war and remember what the russians went through in afghanistan. they left with their tail between her legs defeated. you are looking at something similar in the beginning stages right now. stuart: do the russians have an exit ramp, or do they compelled to keep going forward and make it a wider war? >> the scary part, the same intelligence officials believe vladimir putin will not just get off this was he will double down a triple down unless he has provided a diplomatic offramp and they have not reached that. stuart: can i ask whether democrats did last night in congress, they passed this one trillion dollar federal spending bill but they dropped $15 billion worth of covid aid. what happened? >> reporter: his debate and republicans want to offset and

it would not pass in the senate if not for office for the new covid aid. there is a lot of covid aid from the last tranche of money around the country and the whole school district thing, a lot of schools were given a lot of money but still closing for covid. now we are at a different stage was the money is repurposed to ukraine. it is earmarked for ukrainian aid and we will see what the senate does with that. stuart: i don't know how you keep it straight with the maps and the war and 1 trillion here and 1 trillion there but you do keep it straight. thank you very much. we will be watching you to wrap it up tonight, 6:00 eastern, special report with bret baer, thank you for being here. still to come on this program in the next hour, pete exists, washington columnist kathy mc morris rogers and bill hammer.

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>> i more than sure there was

no chance, that is why we are ready to -- i'm not afraid to fly. i'm in my home. ukraine is a peaceful nation. >> we need to get serious about domestic energy production. we can't rely on iran or venezuela. we need to look to our own backyard and get going. >> inflationary stocks and defensive issues as well as defense. cash -- i'm going to be patient. >> the fed has to raise rates. it does not take into account the rising oil prices. the year-over-year change continuing to go up the next couple months. stuart: 11:00 eastern time thursday, march 10th. the rally yesterday, we are down 350, a 2-person drop.

the price went down, 109. the 10 year treasury yield a problem for the nasdaq, a second ago at to present even. now it is that $1.99 which is near as damage is to swearing as my mother would have said. now this. the city of mariupol is subject to indiscriminate shelling. the people there are without water and heat and leaving their dead in the street to be buried in mass graves and president zelenskyy asked how long to ignore tara? stop the killings. you have the power but seem to be losing humanity. we've not offered the military

help the zelenskyy is pleading for, will not create a no-fly zone or supply jets to ukraine's air force. vladimir putin would see that as an escalation. the russian stepping up their attacks, pictures will get worse. that the dilemma for president biden. watch and change course or send in the weapons that would kill russian troops, stay out of a war, will be still feel that way when vladimir putin's. is lay waste to the country and watch it on tv. another timely appearance. the pictures will get worse and

we are faced with a dilemma. come pretty beating military aid that zelenskyy is looking for a. this is a war broadcast on tv, even more jarring for the human soul. you can't look at humanity on the screen without an urgent need to do something which i don't want to world war iii. you don't have to say that callously but with a full understanding of destruction and despair while saying we don't need images across europe by escalating this and turning it into a war that is america's war, europe's opportunity to stand with e putin, it's not a fair fight and some skills to

the ukrainians nowhere near what they would need but the russian military is bogged down, aerial bombardment of a russian column of assets they have, on the open road. they go into major city centers which kyiv has been fortified for two weeks. they had enough problems taking a kilometer to on an open road. they would become very deadly for russians if they attempted to do that. help the ukrainians win but don't escalate this into a large-scale war. that's how world war i started. it was protecting this angle in this relationship the drag this into a 4 year long war but the images are tough. stuart: i was expecting a

different answer. i thought you might say yes, vladimir putin can be beaten, the russian army can be beaten in ukraine, because they are performing so badly already. i thought you were going to say give them some weapons. no planes or helicopters. >> i don't like the weakness this administration at all. the idea that vladimir putin would sit by as planes take off from nato airbase in poland with ukrainian pilots or not, he's looking for an excuse to use as a reason to widen the war which would give them an opportunity, so many ways that goes sideways was like the russians were bogged down in afghanistan we didn't give singers to the mujahedin thinking they would defeat the russian army, we knew they

could be bogged down and blood long enough to think the cost isn't worth a consequence. i've seen more firsthand, rockets? i've been in rocket attacks. as a soldier they are scary enough. these are bigger rockets, can't imagine the terror. stuart: i really can. us officials are warning about preparation in russia. russia is planning to use chemical weapons whichever worked with chemical weapons? >> we trained on being prepared for a chemical weapon attack and you've got to have the right equipment and to know how to use it was they don't have enough body armor, little-known gas masks and chemical and biological materials they would need. i don't have the answer, vladimir putin uses chemical weapons, what do we do?

how far are we willing to step back and allow the carnage to happen? there is no clear answer. the problem is vladimir putin doesn't leave the white house will be decisive in either direction, there is no unpredictable donald trump where he would step back from the precipice. he looks at conventional foreign-policy of the biden ministration, i can calculate their next move and that can keep going on the pace i am going. stuart: lucas tomlinson reporting 200 workers from the chernobyl powerplant are being held hostage by russian forces. that is an escalation because chernobyl is a nuclear plant. >> those on behalf of are captured. there is an entire canadian battalion, 20,000 foreign fighters as part of the ukrainian foreign legion, thousands of which are americans.

we have got to have americans shooting at russians, not part of the us military. there are many ways this goes sideways and keeping it contained to ukraine and making vladimir putin feel it, i sat there with my heart bleeding for the ukrainian people. stuart: valuable military experience. back to the markets please. more for the dow, 400 points, nasdaq down 300. contrast what is going on today, it is called volatility up and down all the time. it is difficult to navigate as an investor. michael lee joins us now. we used to call him the super bowl but he is here with us now. the cpi report shows consumer prices up 7.9%. what does that do to your investment outlook? >> when you look at the core we increased 0.5% month over

month. next month, we are at 0.4, at this point in the cycle you want to look at it at 0.120.2% month over month. the use month over month increase as i too high but headed in the right direction. dramatic amount of -- the fed is not raising interest rates, the 2 year treasury has gone from 20 basis points to 1.5 now. credit tightened dramatically in chicago fed national financial conditions index tightens dramatically. this is bad for financial outlets, this kind of gets to a peak closely. stuart: why should i put money into stocks when you've got a

war that appears to be escalating. high level of inflation and likelihood of sharply higher interest which i can't see the case to put a lot of stocks to go up. >> if these things happen the market will turn positive. we are at a road to nowhere. best place to hide his energy stocks. a 20% position for my clients and that is where you can hide out. you have a multi-year time horizon. stuart: a lot of viewers are really angry, they lost 20%, 30% of their money, be bullish long-term. not exactly happy right now. >> that is unfortunate they've done that poorly. the market is down 10% from its

all-time high after plus 25% last year, 15% the year before. we had a tremendous bull run, off of the all-time highs. i have been saying that. all the cash right now, we could recover the losses in the blink of an i. i'm not a super bowl but if certain things happen. stuart: you were a super bowl but i don't think you are now. movers start with 3m, suspending business in russia, two plants there and the corporate office in moscow. goldman sachs pulling out of

russia, the 1 major wall street bank to leave, cloud strike, morgan stanley upgraded the stock, the stock is up 12, 13%, the outgoing owner of a british football club has been sanctioned by the brits. climate czar john kerry admits the ukraine crisis is bad but pales in comparison to the climate crisis. >> we are already seeing climate refugees would wait until you see 100 million people for whom the entire food production capacity has collapsed. stuart: ben carson, doctor ben carson is here to respond to that. connell mcshane at a train station filled with refugees in hungary will file a report for us next.

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stuart: the nasdaq below the 13,000 level, down better than 2%. 1% drop for the dow and the s&p. rio tinto cut ties with russian businesses. >> the anglo australian corporation, the second-biggest minor says no operational assets or employees to pull out of russia or ukraine but it is actively reviewing an existing commercial tie. it's part of a joint aluminum

venture with the russian committee, it is unclear, from mining to gaming, japan, sony, nintendo suspending deliveries of their gaming console. sony is suspending the launch of racing game grand touristmo 7. stuart: thanks. we will change the subject to this. the florida senate passed a bill restricting teachers and school districts from discussing sexuality and gender identity with children in kindergarten through third grade. doctor ben carson joined me now. do you think 5-year-olds should be instructed on their own sexuality in elementary schools. >> of course not. they are not prepared to handle those complex topics, growing

up is supposed to be a fun time, not a time you are presented with confusing information. there are a lot of adults who don't understand sexuality. why would you burden a young child with something like that and these are the things parents are there for. not the kind of things schools are there for. stuart: the lgbt queue community is upset about this. does that matter to you? >> the lgbt queue, yes, they matter. everybody matters. that has nothing to do with whether we are confusing our young people. it's not a matter of politics. it's a matter of common sense. what is school for? so that we can teach our young people how to manage in a complex world.

they need to be good readers, they need to handle mathematics. they need to understand history. they need to express themselves. they don't need to be engaged in conversations about whether i feel like a girl or boy today. stuart: biden's climate czar john kerry admits the refugee crisis is so bad but once again he ties the real crisis back to the climate. >> we are already seeing climate refugees around the world. if you think migration has been a problem in the europe and syrian war or what we see now, wait until you see 100 million people for whom the entire food production capacity -- stuart: tying back the refugee -- associating refugee problem in ukraine and tying it back to the refugee, enormous numbers of refugees because of climate.

what do you make of that? >> if we were to apply a little bit of logic here we would recognize yes, green energy, renewable energy are lofty and admirable goals, however in order to get there you need to use what you have already. you don't throw away what you have already which puts you in a deeper hole to dig out of and the things that -- replacing the production in this country are dirtier than the ones we have. we have the cleanest air and the cleanest water since we had measurements for those things under previous administrations, we were energy independent, net exporter of energy, we were able to control the narrative. we took all those keys and handed them to vladimir putin which made him start thinking

about other things he can do and xi is thinking about things and i would implore the politicians of today who is in charge -- don't think about your party, don't think about political party power, think about what is good for the country. what is good for children and those coming after us. be willing to admit that you made a mistake. we are willing to forgive mistakes but if you double down on them and keep making excuses don't be surprised if people reject you in the future. stuart: doctor ben carson, always good to see you. don't be such a stranger. >> thank you for being such a patriot. stuart: thank you very much. 2 million refugees have fled

ukraine since the war began, roughly 5% of the population. connell mcshane is speaking to refugees as they arrive. what are they telling you? >> reporter: absolute horror story. a lot of focus on how many people are coming in to these european countries, hungary where we are, poland, moldova, and others. there will be time to talk and we reported on the challenges it will present to european economies but hard to focus on anything but widespread and growing humanitarian crisis insight ukraine. we are getting eyewitness accounts over and over again. i want to introduce you to a mom, her young daughter and mother-in-law traveling together. in normal times they live an hour and a half outside kyiv, capital of ukraine. it took 10 hours to catch a train here, dodging bombs on their way.

when conversation turned emotional this woman talking about people in her town, they didn't get out in time and he says the russian soldiers will not let them leave. take a listen. >> russian soldiers come in other houses, you understand? some people stay in our house and move from houses to the floor onto the floor. they leave. >> reporter: after our conversation she and the family catch another train. i want to be clear, when she said people were forced under the floor, the russian soldiers

in the account she was given came into the apartment building and forced the residents into the basement and told them they had to stay caught took their phones away. the only reason she knows about it, one person smuggled a phone in and was able to relay the message. by that person's accounts with the russian soldiers it is you will stay here as long as we do, those are the things we are hearing. in this train station, families come in, family sitting here checking their phones and the like, they will be on another train heading out to budapest or somewhere else. that is the migration, all the things these people have been through is really increased the last couple days from what we've been hearing. stuart: terrible, thank you for joining us, see you later. drivers have had enough of records and gas prices.

>> long-term -- >> you can run but you can't hide from inflation. stuart: gas prices rose $0.07 overnight. we have a story. ukrainians setting up roadblocks and sandbags as russian troops prepared to attack kyiv. how close are the russians? bill hammer is next. he will tell us.

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stuart: there is the overall market, heading south, the nasdaq is down 300. the dow is down 1.3% but there's a ton of red ink. please show me amazon, got to be the stock of the day, $136 a day. am i right? susan: buying back $10 billion in stock, forever amazon share, 20 back on june 3rd and i like the historical context you and bill hemmer were providing for amazon because this is the first one in 23 years.

and unless than a year, the amazon ceo, need to get aggressive here at the cash return, the goal is included in the dow. and then to buy the stock. tech names past 18 months. stuart: these other stock listed over $1000 a share. why don't they split? susan: they are not as focused on the dow as something big. stuart: stock price up and. >> it is worth $1000. it is going to be $100 by the summer. stuart: getting me in trouble. susan laid a trap for me.

which stock -- you know perfectly well i would say google and you would say -- do you want to say anything? susan: that is primary -- like -- the limit price orders so quickly we do. paeleton in a new pricing strategy for $100 tested in texas, florida, minnesota and denver? stuart: i can't wait a. i am in a mood. $22 a share. here's a story will hammer -- bill hemmer are involved in, the out going owner of chelsea club added in a swift action list with ashley, i want to

hear about this. ashley: a longtime ally of vladimir putin, he doesn't like to talk about that, being sanctioned by uk authorities, one of 7 oligarchs the bridge government is targeting, they will have their assets frozen and travel restricted. ever-growing calls from uk lawmakers to go after him. the 55-year-old russian is conducting a fire sale of his assets, putting chelsea football club up for sale and a string of luxury london properties the following this announcement any sale of chelsea is on hold and the government must grant permission for any deal to go through. chelsea worth $3.2 billion. it has to billion dollars worth of debt. stuart: i was discussing soccer with bill hemmer.

let's get serious now. the russian convoy near kyiv has made the no progress and severed continued losses at the hand of the military. i'm not seeing much change in location of russian troops. >> go back to the map, the south is a bit of a slog surrounding mariupol, hammered consistently. to the west, about 75 miles shy, note that odesa has not been touched yet? in the north of the action is around the capital city of kyiv, not from the west or northwest but the action from the east and we have video to show that. stuart: i want to see video of russian tanks in the street. looks like they are getting clobbered. >> the story of the day, this

is in the town, this is northeast of the city center by 16 miles, a 2 lane open road during daylight, the russian tank column chose to move during those hours. any military commander who doesn't have air cover says that's a stupid move. we don't know how many ukrainians took out but several were able to drive away but this is why this is important. there is a convoy on the other side of the city for two weeks, 40 miles long, how did he get to be 40 miles long, along the highway. why have they not moved? i don't know what the truth is but here's what i think. russian air cover protects the convoy.

watching this video, air force, the tank column moving, it may be kyiv said hold your fire and then we will make a move. there would be an interesting military strategy and based on what we are seeing they have the capacity to do that. stuart: a video of that street, the original part of this video. they don't know what they are doing. they don't know what they are doing. >> will the russians learn? yes. how long will it take to learn it. stuart: teach them a lesson real fast. thanks very much and we will see you on the air. the president of lithuania warned vladimir putin will not

stop with ukraine, we will ask for lithuanian ambassador. high-level talks wrapped up, mike towbin has the report after this. this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each, with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you.

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stuart: the red ink is getting worse, the dow is down 1.3% and nasdaq down close to 300. there's a lot of red ink on wall street today. i will show some horrific images out of ukraine. russian forces destroyed a children's hospital in mariupol, three people killed was mike towbin at the lviv train station. >> reporter: all of these people getting out of these

towns as humanitarian corridors open up head west to the train station. this is where the wto's by setting a. you will recognize the familiar symbol of the red cross. they have hot rice dish, spice, apple cider, big black cauldron making soup, that the world central kitchen with all of the supplies are stockpiled. plain old firewood is what they're using and people are huddled trying to get one. on the outskirts of kyiv, the town of sumy, woman said the bomb stopped and she got her kids out of town as quickly as they could. in the distance beyond people try to get warmed by the barrel this is the lviv central train station. so many people from all over the country and this is the last stop before poland.

there are two trains to small towns on the polish border, and the problem in lviv is they are not all making it out and the population has expanded by half 1 million. stuart: that is a crisis and a half. lithuania's ambassador to the united states joins me now, putin will not stop in ukraine. are you seeing any evidence of a russian attack on your country, lithuania? >> we don't see evidence of an attack on our country but russian actions until now, remember 2008, the war in

georgia, crimea was annexed. now we see the war in ukraine and what vladimir putin says, clearly ukraine was the target but also questioned and targeted western democracies and european security. i think clearly, and all of us, that's why they support it. stuart: has there been any economic fallout in lithuania, are you seeing a rise of inflation, are there shortages of anything. >> no shortages. what we see now, with the whole population, in solidarity with ukraine. gathering, fundraising, food supporting economic measures against russia. we don't think about economic price of supporting ukraine because we have to do it.

stuart: do you want to see america or poland deliver jets to ukraine to assist in their defense? would you like to see that? >> what we want to see, the best support for ukraine. it is the most effective to defend the country. stuart: you agree with the american administration that says no jets to ukraine and no on a no fly zone, you agree with that? >> for me it is difficult to say they don't have jets as well but -- sorry? stuart: does your government support no on the no-fly zone and no on jets? is your government in support of that policy? >> i said we support all

possible means to support ukraine and what was most effective. our allies are speaking, what is the best way to support ukraine and what each country can do that? from our side we support ukraine and we will support that. all their experts should be -- stuart: i'm sorry i keep having difficulty. i want to repeat, all possible means you support to support the ukrainians. >> all possible means. stuart: trying to narrow it down here. thank you for being on the show today. we support you. good to see you. let's get us the market. the dow 30 not good. 26 of them are down. four of them up. the dow itself is down 420 points go back to 32,800.

russia is accused of funding environmental groups in america to interfere with our energy policy. nato warned about this year ago and we are paying for. kathy mc morris rogers next.

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stuart: price of oil, $109.39 was a couple days ago, talk about volatility, the average price of gallon of regular is $4.32, up $0.60 a weekend up $1.50 from one year ago. we are getting reaction from people across the country. what exactly are people saying about it. stuart: ashley: we are wondering when the prices at the pump. going up. listen to these responses. >> or term, long-term -- >> $55 to fill it up. i have been filling it up every three days when i take my kids to school. >> it hurts us regular people who don't have a lot of money

on gas and something like this. it makes a difference. >> you can run but you can't hide from inflation. >> it goes up to $6 or $7. is it affordable to go to work? ashley: is affordable to go to work? in response to this president biden said the crisis should motivate us to accelerate to a transition to clean energy. at this rate we will become bankrupt before that happened. stuart: i knew you were going to say that. my next guest is investigating russia's attempts to influence green activists in america to undermine our own energy policy. kathy mc morris rogers from washington state committed russians help green activists in america to undermine our energy policy? >> very important question. we are in the process of asking

that question. it is important to follow the money when you look at what happened in russia it looks like president putin has funded a propaganda campaign that he was using his resources, his money to fund the environmental groups in europe, nongovernment organizations, environmental groups that were anti-fracking, working to discredit european and american oil and gas for decades to increase their dependence on russia and president putin because that is the way he funds his economy. 40% of european natural gas comes from russia. this is how he funds his military and his current aggression in ukraine. stuart: vladimir putin funded these activists, this happened in germany. maybe it happened in america. he funded activists against fossil fuels so he would

eradicate fossil fuels and get the value of fossil fuels up and vladimir putin would cash in. not exactly a conspiracy but not a nice thing to do. >> it would play into his hands was whether they did it knowingly or not is the question to be asked. in 2015 the energy and commerce committee visited ukraine, nato and the ukrainians, nato leaders were warning us russia was funding nonprofits that were working against expanding fracking in europe, this technology was developed in the united states that created this shale revolution that is helping us lead in this clean energy transition like europe is not done any of that. stuart: i want to thank you before we close this out for

joining me on energy shock. here is a clip. >> $100 a barrel, gas prices increase in the united states of america. stuart: as energy prices soared vladimir putin cashed in. >> russia's major exporting oil and gas so american consumers are paying more for their gas and it is going into the pockets of mister putin. stuart: thank you for appearing on this special with me. it is available on fox nation. you know what that means? it is the trivia question. i like this one. what is the average shoe size for men in the united states? 9.5, 11.5, 12.5, the correct answer after this.

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stuart: i thought this was an interesting question, what's the average shoe size for men in the united states? ashley, before we give the right answer what do you think, what's your guess? >> you know what they say the bigger the shoe the bigger the feet. so i'm going to go with 10 1/2. number two. stuart: you sir, are correct. that is the answer. >> yea. stuart: it is indeed 10 1/2. just out of interest, ash, do you have any idea what the average shoe size for women? >> i have no idea.

seven? stuart: walking in a minefield here, you realize, don't you? >> i do. stuart: eight 1/2 and nine. i have no idea how you can have an average between eight 1/2 and nine. mathematically. >> 8 and 3/4. stuart: i never seen a shoe size of 8 and 3/4 but i'm looking. appreciate it. ashley. see you soon. my time is up. stuart, it its yours. neil: we're watching what you're watching. a selloff here. depends on the day and moment, how they react. normal catalysts giving us release from inflationary bring pressures. the bottom line the inflation report coming out as expected but a 40-year high for inflation, annualized basis, 7.9%, up .8 of a percent. it is best to put in perspective how much you're making versus how much you're