trinity, got that? >> got it. i learn so of doing this store. >> incredible isn't it? >> i have to get green bagels. bring them home to the kids. >> i tried to wear green this morning. i thought it was green and i think it is. programing note, donald trump will join this program on monday of next week. trump comes to varney. neil cavuto, take it, please. neil: thank you very much, stuart. look what is happening. you're looking at this very closely, barely budging of buyers and sellers, bit of an historic day here when you think about what is going on with waking up first time interest rates higher than the day before, talking about the rates, the federal reserve controls, up a quarter of a point right now. more to come. markets are still digesting that. on the same day we had, you know, this other view that other countries are racing along to

busily raise their rates and mortgage rates in this country over 4% for the first time in a few years. to a lot of young people that's a shock but again for those of a certain age, let's say you know, you got your first mortgage in the 1980s, you were paying kind of per pay. i exaggerate a tad but perspective is everything. head's go to jackie line i can, can -- jacqui heinrich at the white house. couple things we're following, asking the president whether vladmir putin was a war criminal. that reverberated around the world, jacqui, the back and forth on it from the kremlin, not too pleased with what the president told you. what is the latest? reporter: the kremlin reacting very strongly calling it unacceptable and unforgivable. that statement came out very quickly after the president made those remarks which was notable. we just got out of the oval office. the president was meeting virtually with the irish prime

minister on st. patrick's day. they were supposed to do a in-person thing but the prime minister tested positive for covid. president biden just wrapped up that bilateral meeting and basically praised ireland for taking in so many ukrainian refugees saying this is commendable behavior. they're taking in seven thousand. ready to take in even more. he condemned vladmir putin's war. listen. president biden: we're meeting at a moment when demands on unity in the world are really accelerating. we have to be united and we certainly are and but, i, putin's brutality, and what he is doing and his troops are doing in ukraine is just inhumane. reporter: for weeks u.s. officials resisted using the term war criminal, instead calling for putin and russia to be investigated for war crimes. yesterday after ukrainian president zelenskyy's emotional plea to congress which included a horrific video of death and

destruction across ukraine, president biden made his harshest condemnation yet. mr. president, after everything you have seen are you ready to call putin a war criminal president no. are you asking -- no, i think he is a war criminal. reporter: president announced $800 million in new aid to ukraine, 1000 light anti-armor weapons and a 100 area systems including switchblade killer drones but the administration has into the moved to transfer the polish mig-29 jets despite bipartisan calls growing in congress. >> congress continued to push president biden on the right direction, whether the aid, increasing the aid, or the ban on russian oil. the frustration is he continues to draw these false distinctions between this type of weapons

system is okay but this type of weapons system is not okay. give zelenskyy the damn migs. reporter: not clear why the administration does note view drones as escalatory even though they see mig fighter jets escalatory. jen psaki did not answer a question on that very topic, but provided the aid as defensive. we'll see the president on capitol hill. heading to a friends of ireland luncheon. tomorrow we hear he will speak with chinese president xi xinping amid concern that china may be aligning with russia in this war neil. neil: jacqui i asked you about this before, the question reverberated around the world with whether putin was a war criminal, the president said first no. people asked me since if you can confirm he did not talk to an aide or an aide get in his ear to clarify that. could you explain that?

reporter: yeah he did not speak to anybody. no one, actually, he spoke to someone in the crowd who was waiting for him but you could hear the conversation. there was no aide that said, hey you better turn around give a different answer to that. no one tapped him on the shoulder. he came up to me. i asked the question, he was looking at me so i assumed he understood the question. said no. walked away. greet ad person in the crowd. then on his way out it looked like he was think about the question he just answered, doubled back of his own volition clarified were you asking me if i called putin,. >> a war criminal, sir. maybe he was giving it extra moment of thought. no, he was not prompted by anyone on his team. neil: you're incredible, jacqui. jacqui heinrich at white house. we have congresswoman victoria

spartz, she was born in ukraine. quite concerned what is going on there. congressman, these switchblade drones president authorized for use in ukraine, some interpreted these as offensive weapons. the russians are concerned they are also called suicide drones. they are tube launched from the ground. i guess they plunge into their targets. are these offensive weapons in your eyes? >> i think you cannot call ukrainian defending their country being offensive in any way. not like ukraine attacked russia or entered russia territory. anything they do, they defend their country, they defend their people. the least we can do. there are some things we can do to help them defend people from being slaughtered and killed. being able to provide humanitarian corridors and safe passages. we need to provide proper equipment usable for them.

we politicize this issue too much and it is not necessary and stupid. neil: so congressman where are we right now on air support or something obviously president zelenskyy really, really wanted doesn't seemto be forthcoming but after president zelenskyy addressed you and your colleagues yesterday that more minds were changed. can you update me on that? >> i think when my colleagues see the atrocity and see the first-hand and their own eyes what is happening there, i mean, it doesn't matter if you were born in ukraine or not. you see this human humanitarian crisis, suffering of innocent people being killed, women and children, shooting them as they're trying to escape this hell. this is very, we need to be very honest with ukraine, no-fly zone is not on the table at least at this time because we cannot go in direct confrontation and enforce it right now with russia

with nuclear power. we can say, okay, we have no-fly zone. russia will fly a plane. what little we do, shoot the plane? what will end up? i think it is not feasible. it is not on the table at this point. there are some things feasible. we need to do something faster, de-escalate the crisis and bring putin to the table to have a real negotiation between him and ukrainians because he hasn't been doing that before escalates further. neil: congresswoman, thank you very much. victoria spartz, from indiana. born in ukraine. clearly concerned about ukraine and wants even more help, air power help for ukraine as well. let's go to mike tobin right now in lviv, ukraine. there are still airstrikes going on right now and what is disturbing about the airstrikes they always seem targeted at civilian locations. mike, what's the latest? reporter: speaking of civilian locations that were targeted we talked yesterday about the theater that was being used as a bomb shelter. they went to write the word kids

in russians in the back of the theater in big white letters. that got hirt, throughout the day rescuers were able to get to that theater. down in the basement, apparently the old construction held. the latest word they have they cleared debris out of the way. they're getting survivors out of the basement. we're not getting any information that there are any severe casualties at this location. the town of mariupol, which has been pounded for days, cease-fire after cease-fire has fallen apart, not giving civilians a chance to escape. they have been without water, power, without food. that has changed. we've seen now thousands of civilians escape. convoy after convoy getting out of town, heading for the the town zapricia. in kyiv, we have disturbing video to show you, people waiting in a bread line, according to the staff, they were wait negotiate bread line russian forces opened fire, 10 people were killed in that

murder in cold blood waiting for bread line in the a town in northwest kyiv. turn to the south of the country, by all indications the russian army is very interested in getting to the port city of odesa which is on the black sea. they have been stopped at mariupol but the russian navy fired in the area of owe dessachs because of that, what we're seeing now, because of all the horrors seen in other cities like mariupol, the civilian population has started exodus out of the town of odesa, the fighters are remaining. neil? neil: mike, thank you very much, be safe. mike tobin, in ukraine. we had a republican congresswoman on arguing case for more aid. fair and balanced, democratic congressman from pennsylvania, sits on house armed services committee. talking about chris houlihan. congressman, thank you for taking the time.

do you believe it is time to up the aid to so speak, congresswoman, and these drones that the president went ahead cleared for use in ukraine to go still further than that? >> sure. thanks for having me. i was able to listen to my colleague and friend, representative spartz just across the way who i as you mentioned is born in ukraine, speaking very eloquently. i 100% concur with her, have been in support of making sure we get everything that president zelenskyy asked for short of american boots on the ground and americans in cockpits to make sure he can provide the defenses necessary for the ukrainian people. for ukrainian democracy and frankly for democracies around the world. >> you come from a special position, congresswoman. your dad was born in ukraine. was a holocaust survivor. many have said what is going on in ukraine even now threatens a

repeat of history. do you agree with that. >> absolutely. my father was born actually in 1942 in lviv, which is part of ukraine but interestingly in 1942 was part of poland. he did survive the holocaust. he did come here as a refugee, as a small child. he is very much concerned and alarmed as am i about the repetition of history. 1939 all over again and we had a conversation yesterday after he also watched zelenskyy's address to the congress and he was devastated by it as we all are. you don't have to have a personal connection to ukraine to understand why this is a threat to all of us. why this is a threat to all of our freedoms. we need to do everything we can as americans to help defend ukraine against attack from russia. neil: in the meantime, congresswoman, you led the effort as well to toughen up sanctions against russia. no matter how this ends, we hope pest fully, we hope. do you think the sanctions should remain in effect as long as vladmir putin is in power?

>> i think that is a real interesting question. sanctions are certainly having a bite and president zelenskyy did ask for more abundant and targeted sanctions across the russian parliament for russian congress for lack of a better description. sanctions have a definite purpose, we should look when if to withdraw them. we hope it will end up with a peaceful resolution be a diplomatic solution to this as i mentioned we need to look at all the levers they have, whether they are military or diplomatic or humanitarian to be able to help the ukrainian nation. neil: congresswoman, thank you very much for taking the time, chrissie hula hand, democratic congressman from beautiful state of pennsylvania. has a perspective on this like few others. the dow is down 64 points. oil up over $100 a barrel. we have growing questions how

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neil: just when you think you can't exact anymore economic or financial pain on russia and vladmir putin word right now the house is set to vote on a night to curb normal trade ties with russia, specifically something that would revoke its most-favored nation trade status that has been in effect now for decades. the implications of that are higher tariffs and still more penalties on russia at a time even vladmir putin acknowledged overnight this is hurting us but all the evil west's fault. we'll stay on top of that measure, whether it can get on to the senate with a senator from wyoming, cynthia lummis what she makes of that. but meantime let's go to edward lawrence at the white house, digesting the move on the part of the federal remove to raise short-term interest rates which many more hikes to come. you know, edward, i always get a

kick out of media reaction today something after the fact, headlines say, one caught my eye, he is channeling his inner paul volcker, the former central bank chief famous raising rates one point at a time. jerome powell did no do that. is the idea he might? reporter: no. i don't think we will see that fed chairman. he has been very steady when he goes up. he has been very steady when he goes down. he has been sticking to the quarter, 25 basis points. you are hearing grumblings from the federal reserve, they like 50 basis points. there was a dissenter. so far the market likes what they're seeing out of the federal reserve. no accommodation, the balance sheet will shrink but that has not state yet. the white house believes that the inflation will come down this year but the fed chairman telling a different story. listen to this. >> we expect with the effects of

the war, with the data we see so far this year we expect inflation to remain high through the middle of the year, begin to come down, come down more sharply next year. reporter: now the federal reserve is signaling six to seven rate hikes at 25 basis points, possibly three or four rate hikes next year. there are only six meetings left in 2022. that means one of the hikes could mean 50 basis points based on data. on inflation a common statement from the white house not confirming all of the president's nominees to the federal reserve has hurt the fed's ability to handle inflation. so i asked the fed chairman about this here's what the white house first and then the fed chairman. listen to this. >> republicans are awol on the fight against inflation. everyone understands we need a full federal reserve board. the first one in nearly a decade to tackle inflation and bring prices down for american families. >> given you're not actually confirmed and governor brainard is not actually confirmed is there any impact on your job or

the fed's ability to handle inflation. >> none whatsoever. reporter: very short, none whatsoever. no impact at all on their ability to handle inflation. neil? neil: all right, edward, thank you very, very much. danielle dimartino booth, a former fed member. now the quill intelligence ceo. danielle, i was doing the math like, you're much better at it than me. we will end the year with a two something fed funds rate, overnight bank lending rate if the fed has its way, move as quarter point at every meeting but i don't see inflation being down to 2% then. we'll still behind the curve, won't we? >> we will be, neil. in fact in u.s. history we've never been this far behind the curve when you consider that inflation is pushing eight pierce. we've just now gotten oaf the floor, off the zero interest rate floor. it is questioneddable that the fed can even get kinds of inflation that are percolating under control. of course they ignited inflation

in the housing sector. that is on them. and all the speculation that float from it but all the other forms of inflation really will be difficult for the fed to address. energy, food shocks, double what we saw in the 1970s. we're having both at one time and fed moving glacially slow. i was really intrigued to hear non-whatsoever reply because to edward, it is obvious that the fed has been paralyzed for a good portion of the last year as if politicking has been going on in the background. neil: i'm wondering too, about this sort of consensus that is building, danielle. you remind me over the years think twice when there is a consensus building that the fed will only move at regular meetings every six weeks or so, federal open market committee, there is history a lot of precedent for hikes or even cuts in the past in between meetings. so why is that a given, and do

you think we could see that? >> look, you had, you had gasoline prices up 38% year-over-year in the month of february. they chose to sit on their hands. it is pretty obvious jay powell is not about intermeetings, not making sudden moves. he does not want to rattle the market. with the lack of detail what they plan to do with the balance sheet in the coming months, you couldn't be more non-committal than that that you tried. what they know they will be slow, they will be steady and they're not going to be responsive as paul volcker would have been. paul volcker was a strong enough leader to be in order to address what is going on in the background and harming your average working american family. neil: perspective is everything, what you're used to is everything. you know, the big to-do made made with reports that the 30-year fixed rate mortgage is back over 4%.

i'm at of an age, where that is a bargain basement deal to me. i know where a lot of young people, those of a certain generation are coming from, they missed the boat, now we'll be hard-pressed to get a mortgage. so, how do you think that sorts out? rates are still very, very low, but they're moving up and for a lot of people it is unprecedented territory, at least for them in their lives? >> right. you have to keep this in context and starting points matter as well and the record home, record high home prices also factor into this. the fact that despite the fact that they haven't been paying on their student loans if you're talking about millenials, they have very little in the way of savings. many who purchased homes in the past few years have this kind of regret, they didn't know that homes had maintenance costs associated with them and property taxes. there is a lot of nihilism. this is a lot of defeatism with

younger buyers. they feel they will never have access to the housing market. neil, i go back to what the federal reserve did not do in 2021. they did not remove support for the housing market that could have helped affordability. that would address whether you're buying or renting a home. we've seen speculation perk late throughout both sectors. neil: do you think we'll see a mad dash for mortgages are or to buy homes, if you have the where with all to afford that? you know getting in before the getting good before it is not so good? >> you know, yes, we can pull fence-sitters off the fence. you can have -- last few weeks when we had the 10-year treasury pull back, the yields pulled back a little bit, we did see a lot of those fence-sitters jump. on top of that a lot of demand was pulled forward in housing. exodus to the exurbs happened after the pandemic hit.

i'm not concerned there is a substantial amount of pent-up demand you will see because mortgage rates go over the line in the sand. we've seen so much activity already. neil: thank you very much. danielle dimartino booth following this very, very closely. time will tell as they say in this business, an overused phrase, whether powell is ahead of the curve, behind the curve, or just nowhere near the road. we'll watch that very, very closely. watching the development in the house where they're rushing some legislation through to take away russia's most-favored nation trading status here and zing them with more tariffs if that is even possible. a view from a senator who could be taking up that very legislation in that body after this. care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪

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neil: hit them again, that is a reading from a house major piece of legislation they're cragg voting as soon as today that would take away normal trade

ties with russia. in fact more than normal. it is among a select few that have the title of most-favored nation when it comes to trade status. in other words they can move to the front of the line on trade regulations and the like. if this passes the house and it is expected to, moves on to the senate and gets similar approval it would allow for even steeper tariff penalties and the rest, on a country already the most sanctioned on earth. for good reason. with cynthia lummis the wyoming republican senator support such a move? she is a kind enough to join us now. i'm hitting you broadside with this, i apologize for that, but would you consider, that support that type of legislation? >> absolutely. i do do support that legislation. we have to take every means possible to limit trade with russia and close ranks in europe and the united states to make

sure their opportunities to trade are very limited and put the squeeze on russia for this aggression. neil: all right, now, oil prices of course have been the big bugaboo. they're back over 100 bucks a barrel. you watch this closely, north dakota, of course, wyoming, some very important energy states. i am curious when you, what you make much elizabeth warren now targeting oil companies for the spike in prices? >> well the companies don't set those prices. you know only 5% of refiners own gas stations. it is the individual gas stations that set their prices. it is generally been true that when there is an incident of crisis such as the ukraine situation gas prices go up very quickly. they spike quickly and takes a long time for them to come back down because these gas stations are trying to figure out how

much gas is going to cost them in the future. they don't want to lock in prices now that is below their ability to sell later. neil: so -- >> or above their ability to sell later. neil: no i understand what you're saying. are you for, because even some of your democratic colleagues have expressed support for this, dropping for a period of time the federal gas tax? >> no. that is a short-term fix that will have very little impact on overall gas prices. what we need to be doing is re-engage in permitting on federal lands. we need to permit the lng terminals that are headed for europe. there are four of them, apparently just in the last 24 hours, two of them were ferc permitted. there was tremendous foot-dragging about that. we need to make sure we have more natural gas pipelines being

permitted. so we can get the gas around our country. we need to make sure that there are more outlets for our natural gas including rocky mountain natural gas that can go to asia. there are so many constraints on our ability to get our very abundant, very clean, natural gas, not only around the world but around our own nation. neil: all right. senator, we'll watch it closely. senator cynthia lummis from wyoming following those developments. in the meantime we're following a bit of a mystery in the credit markets right now as to whether russia defaulted on a substantial bond payment. if it did, it would be the first time since the bolshevik revolution. the russians are apparently no, they did pay interest on this obligation. i will get into details. if they didn't, yet another problem for a country whose currency has been savaged and

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neil: its currency shot, markets already cashed. tough to get money there. tough to take money out of the country there and now word russia could be on the brink of default by missing or allegedly missing 117 million-dollar interest payment on government notes due today. we're learning from government officials that didn't happen. they made good on that. the reason why i stress this, if you don't make good on interest payments, you're a government, you're in default. simple as that. the russians don't want that added to all of their problems. it would be the first timing is like that happened since the bolshevik revolution so we really don't know.

i want to go to my friend scott martin from kingsview asset management. i'm hearing about this development, scott, i hear about tesla halting a one billion dollar bond offering. i wonder if it just feels the conditions are not right for any type of bond offering and it is tainted by association, even though there is zero association? what do you think? >> yes, strange things are afoot at the circle k or in this case the bond market. a couple things to parse apart here. the russia deal, which the check's in the mail type of excuse probably isn't going to work here because we know what is going on with russia. we know what kind of actor they are. they certainly probably don't care either. with respect to russia going forward it is probably good to get aligned with some of their creditors, the fact they will need credit going forward to rebuild their country if they so desire. with regard to tesla, i don't think it is so bad with tesla. it was a billion dollar issuance, neil. a they have a couple, 15 billion or so on the balance of cash.

they have another 18 or so bill they bring in this year. so not that big of a deal. we're in a rising interest rate environment. if you're raising bonds in environment where interest rates are going up, you want to issue bonds, rather higher than the open market, not going up against you. therefore they will probably rate until interest rates calm down to reissue the bonds and get credit flow backs that they need. neil: scott, i worry about the compounding effect of this. if companies then feel nervous about you know, making a bond offering, we already know a good number of companies that put off, public offerings, those that wanted to debut, in this environment are saying we won't debut now. and it does tend to feed on itself, doesn't it? >> it does. it also tells you kind of environment we're in where everything is very skiddish still. even after the fed did what i think was a pretty good job yesterday, the markets are a still bill lit in the figure it out kind of phase.

with respect to the debt instances that happened over last six to say seven years. we've had other bond issuances delayed like this, like tesla. not that arcane to say this situation. you're right, some companies need debt more than others. i think tesla doesn't need it as some other companies, snowflake, some other companies not making as much money, teledock other guys, it is not need but more want. i'm sure tesla can be patient here. neil: if you have to look everywhere, the idea of a contagion, i mention it now with the house considering still more sanctions on russia by removing its favored trading status which would invariably bring on tariffs and the like. we already know that some russian financial institutions that are on their last leg, a lot of people are asking how much exposure to our banks have to that region, even in

citigroup's case, you know, it's a significant amount of money, $10 billion, but they have two trillion plus in assets, so i wonder if it feeds on itself, the perception that the good and the bad alike are caught up in apselling wave, if it materializes to be a problem? >> yes. the bad feeds on itself. feels like more than the good these days. you're right, neil, i do worry as a money manager, investment wealth manager, we worry a lot. we have to manage each day i scream myself to sleep most nights. with regard to contagion we had a couple dry runs, haven't we? we had the brexit scare, greek crisis before that, there was not a huge cone tank i don't know. some banks closed, banks that got taken over, some banks liquidated their assets. we've been here before and while this incident is scary, it has the potential to spread i don't think it will be bigger than those other two which really

weren't that big of a deal overall. neil: you're right about that. it's a spring-like reaction although spring to selling but bottom line, you just stay calm you got through it. we'll watch it very, very closely. none of this really materialized yet to scott's point. we're watching it. thank you, scott, very, very much. corner of wall and broad, the dow up 153 points. we'll be buzzing through sectors, all those benefiting from this, rat tat fashion, a lot coming up here. we'll give you as much as possible and as often. we'll keep doing that. please stay with us.

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reuters is saying that those payments that were due march 16th, were received by bondholders. they did not indicate bond hold he, got their money yesterday. that would technically again avoid default. the reason why this is important with all the other problems russia has, eventually we'll get beyond this war i pray and hope just like you do and then russia is in a real pickle for getting money. its currency just destroyed, its economy just on life-support. the last thing you want a sign you won't make good on aid and money and support going forward. so you don't want to default. that is something that they appear, again, only reuters is reporting this, to have avoided, but there is another big interest rate payment coming up in about 2 1/2 weeks. so you know, you just push back, you know, the day of reckoning here but again we're watching that. in the meantime watching what's going on in this great

exodus from ukraine. better than three million refugees now. more than half make that i wear to poland. ashley webster now with the latest from there. ashley. reporter: yeah, good afternoon, neil. of course the costs of this continues to rise every day as these refugees come in and they are then moved through. we're talking about the cost of not just of you know, food and shelter but the the cost of transportation. the polish government now decided to put aside $1.7 billion to try to help offset some of those costs. when we talk about transportation, of course we talk about the price of gas. if you think it is expensive in the united states i spoke to the mayor of a local town. he said, oh, boy, don't talk to me about gas prices. take a listen. >> petrol prices are crazy now. nearly nearly two euro, compare

to price one year ago, it was one euro. big price change for us. reporter: everybody talking about a price of gas today, we're looking at the high grade diesel, this is 7.75 polish slaudi. that is $10. convert that to a gallon, $7 a gallon. i fill up mercedes diesel van, half a tank will cost one hundred dollars. the average salary here is $700 u.s. a month. 100 for half a tank. when you think of cost of transporting refugees, you think how expensive proposition this is. >> we're doing this for the third time. the prices are every time we come here. and yeah, we see that, actually but, the at the moment it is not

stopping us from coming here. reporter: it is not stopping here. that was one lady we spoke with outside after local train station. she come from germany, hundreds of miles. she brings supplies. picks up 20 refugees to go back to germany to provide homes for refugees. she has done it four times, it is absolutely remarkable. neil, don't mistake the cost of this is extreme. neil: all right, ashley, thank you very, very much. we're getting more updates by the way on some of these bond payment issues. ii want to alert you to that. jpmorgan is among those that indeed processed russia bond payments, a couple of sources of mine have been emailing me this development here, that u.s. entities that were owed money on this bond payment have been paid. that includes jpmorgan and citigroup. so, again if i have any further info on this of course i will

let you know. we'll be looking at bank stocks. we'll be looking how energy stocks are responding to the runup with oil again, now up over $100 a barrel. meantime how would you like to be a russian-american, russian decent where the environment is not all that great? karol markowitz, "new york post" great writer, family lives in ukraine and russia. karol has vetsed interest they're not all evil. that is kind of a unique position to be in. what is your family saying, feeling? you tell me. >> i have family still in russia and in ukraine. my family in ukraine left a few weeks ago. it is all women that were left there. they left a few weeks ago for germany. so they're out. but yeah, it is a really complicated time for a lot of people. i grew up in what is called the russian community in brooklyn but we weren't russian.

most were jews, which in russia we were never considered russia, in ukraine we were never considered ukrainian. we were a jewish community from the former soviet republic. we shorthanded to russian because it seemed simpler. we spoke russian. a lot of people ate russian food, et cetera. seemed to make sense at the time. now people are sort of moving away from this all encompassing term, saying no, i'm from belarus. no i'm from ukraine, et cetera. actress mila kunis referred to herself as russian. she is clarifying i'm actually from ukraine, it is a moment in time people don't want to be associated with russia. i want to add the russian community in brooklyn, i got to know the russian community in florida, they're very, very pro-american. they came here to be american. they wanted to leave all of that behind. they hate they have to associate with the country that they left behind. neil: you know, karol, back in

russia, the word is that older russians support vladmir putin and are apoplectic that younger russians, ukrainians call them, tell them what is going on, they don't believe it. >> right. neil: i'm wondering how that can be? they feel the economic pain on the streets. so how is that being explained? >> right. i would say everything we hear about what russians think and believe we need to take with a grain of salt. these are not free people. we cannot expect them to give us their real opinion. their whole lives, during communism and actually even since then have been spent covering up what they really think in order to preserve their safety. we as free people really can't imagine that there are people who just can't have an opinion on putin. that can't express any opinion other than the acceptable one in their country. you know, again, people that i know in russia they will not discuss what is going on. they will not discuss the war. they will not discuss putin.

they're afraid. they're afraid to say anything at all and get in trouble for it. so they were, it has been the case a very long time. the culture really does not encourage you to speak out in any way. so they have really taken that cue, and they're not speaking out. neil: yeah, they don't want to chance it. i guess i can understand that. karol markowicz, thank you very much. >> thank you so much. neil: taking a quick peek, maybe confirmation russia made good on the bond payment, giving dow extra boost. financial shares many of them turned around in this environment where they will benefit anyway from the inexorable uptick in interest rates. we'll keep an eye on that and much more after this. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪

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neil: all right, we're beginning our second hour here and i'm really happy to have you with us right now. you might have noticed we picked up a little bit of steam in the dow, mixed message for some of the big financials here on word that russia did make good on a bond payment a little bit more than 120 million u.s. dollars worth of interest, it was due to pay today the big bond holders like citigroup and morgan stanley, jpmorgan i should say more to the point, they got paid today and had they not gotten paid of course this isn't a big part of their business but anytime a government doesn't pay, interest on a treasury note or what they

call their bank notes and bonds, that's technically default. you don't want that but the russians hasn't happened since the revolution and they have mixed memories o of that in the meantime, we're getting financials digesting what is going to be a steady wave of interest rate increases in this country and by a phone call between these two guys, president of china and of course the president of the united states, they are going to be talking on the phone tomorrow, oh, to be a fly on the wall there, edward lawrence is close to that wall. he's at the white house right now. edward? reporter: yeah, if i could only hear, holdup that cup to the wall, yeah, that be , it's going to be a very interesting conversation. this will be the fourth time that president biden has spoken to xi-jinping during his tenure here at the white house. now, if you listen to the words from the chinese, they are distancing themselves from russia, on one hand. on the other hand, you're also seeing a chinese spokesperson say that china will not end

normal economic relations with russia, and that includes credit card transactions. the white house press secretary jen psaki says the two world leaders will talk about managing competition as well as the invasion of ukraine. senator marco rubio says china's watching what's happening in ukraine and feels emboldened. >> encouraging someone like putin to do more and i think the president is getting that balance wrong. he has been led on many of these issues and dragged by members of his own party in congress to position after position with regards to ukraine, and frankly, i think that existed before then invasion and it was a contributing factor to this happening. reporter: yeah, it could be also chinese xi-jinping who will try to project strength in the call with president biden, the chinese have been consistently warning the u.s. in every meeting that they've had that taiwan belongs to china. this week the white house press secretary says the administration reaffirmed that for china. >> lengthy conversation that our national security advisor

had with his counterparts. he also conveyed and reit raided our one china policy based on the taiwan, and underscored concerns about beijing's coercive and provocative actions across the taiwan straight which is of course our position, publicly, but is also something that he took the time to reiterate during this conversation. reporter: so we'll have to see how forceful president joe biden will be and how many topics they get to in this call. back to you. neil: all right, thank you my friend, edward lawrence at the white house. you know, china has got a heap of problems ahead of this call having nothing to do with what's going on in ukraine but covid is speaking seriously in that country close to 60 million are in lockdown there, and the city of shenzhen of course which is the big technology juggernaut area, foxconn produces manufactures a lot of iphones in that neck of the woods, all but shutdown and it's causing some supply chain constraints right

now. kelly o'grady on that part of the story at the port of los angeles, kelly? reporter: good to see you, neil. yes, this is china's worst covid outbreak since early 2020 and it's wreaking havoc on a tech manufacturing hub. officials are pursuing a covid strategy and they have shutdown shenzhen, locking down over 30 million people in that city alone. now the cost to ship a standard container from china to the west coast rose over 1,100% during the pandemic. you can see that cost has started to rise again in recent weeks, spurring fears about an already-fragile supply chain. now those shipping costs impacted the price of goods dramatically in some cases. the costs to import a couch from china rose over $500 at the same time inflation hit a 40 year high. the international chamber of shipping representing over 80% of the world's merchant fleet is sounding the alarm telling fox business, the reinstatement of harsh travel rules by government are of great concern, we do not want to see a return to the peak of the crude change crisis that will have a negative impact on

global trade. tech and auto are especially seeing crunch. so many manufactures telling us they don't expect the current shutdown to impact output. >> companies are using existing inventory and alternate sourcing to get around i think a lot of the issues that is the military conflict and also what's going into china have created but that inventory only last for a few months. if this goes on for half a year, for a year, then, you know, things are going to be very different. reporter: now, the current lockdown is scheduled to end sunday but if that extends or moves to the ports, the clog could get more severe. there's already warning signs 34 vessels are loitering outside shenzhen as compared to just seven a year ago. neil? neil: oh, boy, all right, kelly o'grady thank you very much at the port of los angeles, so my next guest worried about the potential economic and financial fall out of something like this , in other words another supply chain problem, just when we thought we were coming out of that, complicated

obviously what's going on in ukraine, these covid case spikes going on in china, to dan geltrude, geltrude & company founder, luke lloyd strategic wealth partners investment. so luke, to you first on this. this is sort of out of left field and i'm just wondering if you're worried about it. >> yeah, no, absolutely. this just adds to the fire, right so there's a lot of things in the economy completely out of whack right now. supply chain issues, inflation, covid cases speaking, i mean, goldman already is saying there's like a 35% chance of a recession? i actually think it's closer to a coin flip chance there's going to be a recession. look, the perfect storm for a recession comes when you have commodity inflation, federal reserve policy errors and a geo political event. we already are in that hurricane so on top of that, most people forget that the economy was slowing before all of these issues were present in the russia-ukraine situation, so commodity inflation and inflation in general isn't showing any signs of slowing.

the federal reserve messed up the first time they used the word transitory over a year ago and these geopolitical tensions are going to take months maybe even years to figure themselves out so do i think we'll see a negative quarter of gdp growth over the next year? yes, i do, but do i think we're going to see two negative quarters to call it a recession? well that's determined whether or not the federal reserve breaks the economy by hiking rates too quickly, whether the geopolitical tensions last too long. neil: well i don't think they will be fatted for moving too quickly, dan, if they have any wrap against them is that they are behind the curve and moving too slowly. what do you think? >> yeah, i think that's the case. look, the fed has really been missing this the entire time as luke was saying when they started with this is only transitory, they were way off the mark. let's really take a look at what's happening here, so as we're going into a period of raising interest rates and with the economy potentially slowing down, where is that going to

take us? well it takes us into stagflation. now, i don't know about whether it's 35% or 50% chance of a recession. either way, we're headed in the wrong direction, and i also want to point this out, neil. i know you were talking about it earlier in the show. mortgage rates going up. think about that. so now, that is going to have a cooling effect on the real estate market, which is really going to cause issues because prices will come down, a lot of homeowners are now going to be under water on their homes, so to me, that's the beginning of a bad economic trend. neil: well, unless they bought very very recently, the prospect of being under water might be quite a feet at this point, but luke, do you see that? in the recent buyers who might have bought at a market top, i'm not saying it was or is, they

might be dinged by this. i don't know about homeowners in general though, what do you think? >> so i do think that there's tons of demand in the housing market and supply is limited so with interest rates rising i think the housing market is going to remain pretty strong for the foreseeable future, now two, three, four years down the road can it cool down? absolutely but i still think we got growth right there right now , for the housing market but in general, i'm taking a look at the yield curve right now and it's starting to invert. the five year and the 10 year, the two year and 10 year hasn't inverted yet. the feds now suggesting they need to raise rates six or seven times this year, i mean it seems like that is enough to break the economy in the invert ed yield curve is suggesting that so if you look at history, the bond market is smarter than the stock market so that's why i think 2022 is a year you want to hit singles. you don't want to hit doubles. you don't want to hit triples and definitely don't want to hit home runs. you need to get hads away from the indices that own everything because when you own everything

you own the winners and you own the losers and winners are harder to come by this year. neil: dan, how do you feel about that, those who just buy at index fund or anything like that, it's going to come back to bite them. >> well, you know, neil. if we had that crystal ball to really know how things are going to play out on the market, look. i'm still bullish on what's going on in the stock market and i think that people who maybe jumping over into the bond market probably going a little bit too soon. i still think that the market is the best game in town. certainly you don't want to be sitting on cash, and to even to go into some of the short-term bonds, i just don't see that right now. we're seeing quite a bit of green there, and i think we do have more runway with equities right now. neil: we'll watch it close gentlemen, thank you very very much. most of the dow stocks are doing just fine, financials in particular, oil is, you know, a

push and pull situation, of course it responds to higher oil prices when we get over $100 a barrel but its been a volatile investment of late so keeping an eye on that with crude now up about 8% today, this is something that is effectively double over the past year, actually more than that, so perspective is everything, isn't it? just like interest rates and whether a 4% mortgage is the end of the world. don't get me started. we'll have more, after this. this isn't dry food or wet food. it's not burnt brown pellets. the farmer's dog makes it simple to feed your dog real food. it's real meat and veggies. freshly-made. developed with vets. delivered right to your door. that's why dog lovers are choosing the farmer's dog. a smarter, healthier pet food. delivered.

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neil: we've already told you president biden plans to have a phone call tomorrow, with xi-jinping of china, but ahead of that word out of france that macron plans to be speaking to both the ukrainian president and the russian president, sometime later today we don't know when. he isn't ruling out that is emmanuel macron a trip to kyiv, ukraine, but only if it's useful and at the right moment well of course everything is risky there in kyiv to put it mildly, and the country is still at war, and things are getting pretty dicey with an up-tick in air strikes on the part of the russians. bill hemmer following it all and looking at the math.

bill: i'll run through math and try to paint a bit of a story and some of the numbers at the end of the report, neil, they are stunning with what's happening militarily here. we've got the map here just want to focus down here in the southern area there's a lot of concern with the town of mariupol. mariupol down here in the southeast, just being hammer ed as you know. there's a lot of cars that went out over the past 36,000, neil, thousands of them so there is a bit of relief here but i want to focus in on this. this gives you an idea, there was a hostage situation here the other day at this hospital, you might remember, last week this is a maternity hospital that was hit by that giant bomb that left a crater in the middle of the square that was 20 feet deep and this is the drama theatre just hit in the last 24 hours, and this is what was written on both sides of this drama theatre. you were reporting a bit earlier today and it's like the language almost looks like detm, but it

spells children on both sides to mark that location here, and this is what rather magestic building three stories in height it looked like about 48 hours in the sunshine and this is what it looks like now. absolute devastation, we think they are reporting today, it suggests there were a thousand people many of them children and women were taking shelter in a bomb shelter at the bottom of this building and they are still trying to get them out as of today and we'll see what the casualty number is but so far it appears, it appears they got very lucky; however if the russians targeted this which obviously appears they did, the question is why? you know, and this goes to the whole issue of war crimes and it could be from joe biden a moment ago. this is kyiv, there has not been a lot of change in the situation there, neil. many of the buildings that are getting bombed here are 10, 12, 15-story apartment buildings however overnight there was a strike here is the city center here, there was a strike about 1.5 miles from the center of the city, by my recollection and accounting, neil, that's about

as close as the russians have gotten to bombing the city center. it's just something to keep an eye on. up here in the north the reason why i wanted to talk about this is this is cherniah, you may have heard the story about ukrainians lined up for food, bread and 10 were gunned down taken out by russians and there's video of them on the street and it's some really sick, sick stuff. the point i wanted to make about what you see in red again for the past three-plus weeks now, trying to track the russian military and what the red army is doing we believe this is pretty accurate based on their advances. not to suggest that they are holding the territory or holding every city they go by and certainly that has not been the case, because the ukrainians are fighting back, but think about met metaphorically what the color red represents, metaphorically that is russian blood that's been spilled in here. neil, the pentagon yesterday came out with his own assessment of what it believes is the russian casualty number. they put it at 7,000 soldiers.

through a sense of relativity, 7,000 as of yesterday, 21 days into this war, at iwogima in 1945 the u.s. marine corps lost 7,000 marines in the battle that lasted 36 day against the japanese, just to give you a sense of relativity about the losses putin is taking in his army. they have also lost, we believe, up to four leading generals on the field of battle and how do you keep your men in a fighting position when you're losing your leading charge in so many different areas of the country, tremendous losses for putin. in return, talk about numbers here, neil, to give you a sense of what's happening. the red cross earlier today reported that it had shipped 5,200 body bags into the theatre to help remove a lot of the bodies that are still left there on the bottle battlefield.

stunning, right? 2022 and 22 days that we can talk about this amount of loss. i just, it blows the mind, neil. neil: you know, then you have this overnight, these comments from vladimir putin trying to put the blame on western powers and trying to steal russian heritage and all of that. i just wonder back in russia, how that is going down. i know very few can get the real information and the real deal and i know there's a separation between older russians and younger russians, but the more economic pain they're feeling themselves, the more they got to be wondering why. bill: you know it's an excellent consideration, neil, and hard for me and you and all of us to get in our minds but like you and i would think, well , i mean, if we're losing our livelihood, this has got to end and if we're seeing devastation, that's a lot of women and children its got to

end it is just wrong. the ambassador of finland was on our program a bit earlier today and i asked him, what happens here with the oligarchs? they are losing their livelihood s, so do they put the pressure on putin to get him to change? because that's the way i view it you know, they are losing so much, you must stop this , morally it's wrong, and he flipped it around, neil and he said i think it's exactly the other way around. i think putin still has the pressure on them. point number one. point number two there was a press conference by sergey lavrov, you know him well, right, neil he's been in western circles for 30 years now and what he said about the future for russia, i thought was very intriguing because we're trying to get germany to change the way it gets its energy, trying to change the way nato supplies itself, and arms itself, and he said that in the future, russia will reconsider its relationships

with the western world because of what they have done to our economy and then he dropped the line, uncle sam in the future will not be able to do this to russia, and he reflected on a little bit about the reasoning for why they went forward with these relationships and how when they were building the relationships, they were thinking is this a smart move to do? is this a smart move for us to take? and he was clearly having regret s about that. really, i mean it's a world that's flipped upside down because we've been saying to the germans, why are you getting your gas from russia? why are you building nord stream 1 and nord stream 2? why are you giving up your nuclear power plants to rely on vladimir putin because some day you may not want that, and inversely, russia is doing the same thing right now. i think the point to be taken away, neil is that in realtime, today, in mid-march, 2022, the world is realigning itself and its got a ways to go to figure out what is left after the rubble of ukraine and how it affects all of us in the near

future. neil: i caught your show this morning on fox news and when talking to these officials and particularly from finland and their view of things and the alienation of the oligarchs, i'm wondering who are vladimir putin's friends? he's gone back to the oligarchs and threatened them. he's not pleased with his generals and i'm sure he doesn't give anything about the death of four of them, and i'm beginning to wonder who is he relying on? bill: totally agree with you. the only thing i can add-on that , i don't know what the answer is clearly, but there was a piece in the new york times in the last week, i forget the gentleman, but he's got a long history in russia, with the communist system and transfer in the early 1990s and what he said was during covid is that putin spent his time at a place called valdai, and that's the midway point between moscow and st. peter's berg formerly le ningrad, and i did a deep dive and it's a hilly area

and the kind of place during the summer it has lakes around the area in the summertime with the rich and wealthy and well affluent would seek their refuge like new yorkers going to the hamptons it's like new yorkers going to upstate new york to get out of the heat of the city in the summertime, so putin has a property there, it's about 300-acres and he has a massive home there as well, and what this gentleman suggested is that the writer of the new york times piece is that putin spent a lot of time during covid at this retreat, at the midway point between the two major cities and he was in communication with one of the russians, it was the head of the rac exa bank i believe i can't remember his name but they were pretty much on what views they shared about russia today, what views they shared about russia yesterday, and the views they have for russia going forward, so perhaps, that might have been the one relationship he had over a two-year period. that conjecture a little bit on my part but i'm just trying to

piece it together and try, we're all trying to figure it out, right? this is a big mystery. neil -- neil: maybe that's where he hatched all of this? bill: maybe. neil: you've got to wonder. bill: neil, you maybe right and i mean listen, you and i could talk forever about this because we're trying to figure it out, right? we were alive and we understood the communist system and what it did to people and human beings and how much of a relief it was in the fall of 1989 to tear that wall down and give these people hope. there's a reason why ukraine wanted to join nato. there's a reason why they were attracted to the west. they've seen the old system. they didn't want it anymore. now, we can quibble and debate as to whether or not we went about it the right way. i don't think that security agreement signed on november 10 was a smart thing. you know, with ukraine, if you're going to sign the deal, fine but give them the weapons in november. you know what putin has been saying in private for a long time. he wants the real estate of ukraine. if he wants that make sure this country is fortified, or

don't sign the agreement and still give them the weapons they need to defend themselves. just a few words. neil: well-put. we look back at that though, right? as the fall of that berlin wall, a great day, is very very clear for vladimir putin, it was the worst day, and there inlies this today. still existing today. bill: good to be with you. neil: thank you my friend always appreciate it, bill hemmer on all of that. then, there is the outside issue of china, right? what will china do? as far as military help right now, that looks very unlikely, maybe even economic help, very unlikely, because its got a serious spike in cases and a lot of people are saying, there by the grace of god go when xi-jinping thinks about what's going on, he doesn't want the same sanctions and the same isolation. we'll find out more when he has a chance to talk to president biden himself, tomorrow. we'll have more, after this. i promise - as an independent advisor - to put the financial well-being of you

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neil: all right, where are investors kind of hedging their bets? well today nothing to hedge, they kind of like the stock market right now, but when it comes to some of the crypto currencies they have a mixed mind on all of this. let's get the read where we stand with natalie bernell, the coin stories podcast host. natalie great to have you. what do you think of how cryptocurrency investors are responding to the ongoing war, i mean, going almost four weeks into this? >> yeah, absolutely, thank you so much for having me, neil. well you know, i think that the war has actually put a spotlight on the use cases for bitcoin, i mean, we're see ing millions of people trying to flee the country and they need to take their life savings with them and so there's no form of money out there right now, other than bitcoin, that is censorship resistant that is borderless, permissionless, that can allow you to essentially flee with your entire life savings on a hard drive or memorized in your head and that's really powerful in a time

where currencies are being manipulated or seized by central authorities, and we're seeing people actually help refugees in realtime using bitcoin, through donations and you're seeing ukraine ask for crypto donations so i think it's a really powerful time putting the spotlight on this industry. neil: but it's also allowing the bad guys if you want to look at russian oligarchs and others to do the same thing. now, i know this idea that you're invisible with crypto purchases and sales is just a falsehood, and you can follow where that moneys going but it does seem to heighten this regulation effort not only in this country but across the world. does that worry you that it can go too far, or are you of the mind that that gives it street credit, if there's a structure around it. >> you know, i think regulation is going to be a good thing because it's going to provide more avenues especially in the united states for investors to come in especially the

institutional avenues. i've said on shows before and it's something that's popular in the bitcoin space to remind people is that, you know, using something like bitcoin, the network, it can be used by anyone, it's not controlled by any authority or corporation. it's the same way that a knife can be used by a criminal for something bad, or it can be used by a surgeon for something very good, so it really depends on the user and their intentions and certainly that's the case with something like bitcoin that again is under the control of no authority. now regulation i think is going to happen. you're seeing it right now in ukraine. they just passed that virtual assets bill, they are trying to pay for regulations so they can sort of see what's happening with the exchanges and allow the legal facilitation of crypto assets to citizens, and you know , we're going to see more of this and this is the time for the united states to take advantage of this technology, because the u.s. dollar, you know, we're seeing it's at risk right now. the other countries are de- dollarizing, they are doing deals in foreign assets and that's very dangerous to the u.s. dollar but if they embrace

something like bitcoin, i think that could be a good message. neil: of course the world is still looking at that as a safe haven but you're right. that might change, we'll watch it closely. natalie thank you very very much we told you about a russian default avoided, charlie gasparino on banks still wondering, charlie? charlie: kind of interesting that we looked at our producer and i started looking at the fdi c numbers, problem assets at the big banks, and there was a noticeable pop in the fourth quarter. now, obviously, the fourth quarter of 2021, we did not see the russian invasion, although, you know, people were talking about it that putin was on the verge of invading, and there are banks with, and that would lead to sanctions, the biden administration clearly signaled that sanctions all last year were definitely in the card s and they could hurt and they could hurt counterparties and deal with russia, and we saw apparently,

not apparently but according to the fdic a $120 billion spike in those problem assets, and this is what people are speculating about. which bank in the fourth quarter is responsible for that 20 billion or is it a bunch of small banks we don't know. the fdic doesn't know but clearly, people are pointing fingers, you know, you could just throw this out there, i'm not saying citigroup is the bank responsible for that, but if all the u.s. banks that are still dealing with russia, citigroup is still dealing with russia. we put a call into citigroup. they declined to comment. they won't confirm, they won't deny, i obviously gave them a chance to deny that this is them , or not them, and they wouldn't do that, but this is kind of interesting, neil. again, putin invaded ukraine three weeks ago, but the buildup to this was months in the making. the fdic, the fed, all the regulators had the banks on notice that they were going to

look at their counterparty risk to russia. then you see this big spike. by the way this is the biggest spike in the quarterly problem assets, we are told, since 2013, so something is going on here. the market is speculating it's russia and obviously, citigroups name is coming up a lot and the company is not denying it, neil, back to you. neil: all right, very very interesting. all of the financial issues doing okay today, maybe just some relief at this russian default was avoided, some were indeed on the hook for that interest payment, they all got it today, citigroup was among the names mentioned as was jpmorgan chase. we'll have more, after this.

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neil: a war raging in ukraine, it's one thing to say that president zelenskyy has decided to stay in ukraine, not leave, but consider this. virtually the entire parliament, most of it, all of those members

, staying behind as well, putting themselves at great risk including my next guest, kira ruddick a ukrainian parliament member, how are you holding up these days? >> hello, thank you so much for having me. so we are just over the 55 hour curfew that we had, because we were expecting the russians will do a full speed attack on kyiv. they, indeed, tried to and they failed at the outskirts of kyiv, so not that bad these days. there has been continuous shell ing over the last two days so four buildings in kyiv were destroyed and people killed, we don't know the exact amount just yet, and partially one of the subway stations were destroyed as well, so we are holding up, we are getting ready , we are getting stronger, we are preparing for a different variance of event, so land attack, ground attack, and siege

and obviously, the air force attacks. unfortunately, we cannot do anything about as citizens, but we can again and again plea for additional air force support and we are extremely grateful to the aid that we were promised yesterday by president biden; however, the situation remains extremely unstable right now, and the russian forces still don't, are not losing their idea of taking on the capitol of ukraine. neil: you know, it doesn't seem just coincidence that the russianings target average ukrainians, not military, are trying to shield themselves from a hospital, i guess two dozen hospitals now by the latest

count, two nuclear facilities. do you think that's intentional? >> absolutely, it is intentional, i will tell you more that the theatre that they attacked yesterday, it was clearly, it was a huge letter on the ground, children, they were children, so the person, you know, with this tiny hope that the person who will be firing the missile, who will be making the correction, will see it and think twice and maybe have this hint of humanity in him, and will stop it and will not execute on the order, but unfortunately, it didn't happen, and the refugee camp where women and children were targeted and we know right now that some of them at the bomb shelter underneath it, but some of them were hit by the missile and were

buried under the building, so after it collapsed, so putin is war criminal, this is all i can say, and it hurts me so badly that we can fight so bravely on the ground, but right now, we cannot do anything to protect us in the air, so this would stop happening, because you see , they are getting help from us on the ground, so they are not attacking straightforward anymore, but they are then targeting civilians with the missile. neil: kira, it's how he's working. this is not as you say coincidental. kira rudik, just be safe. hopefully a lot of the latest supplies of military aid including the swiss blade drones will do the trick. i guess they launch from the ground and just sort of plow into any aircraft that might be

above, so hopefully they will be of some important user to you. in the meantime, thank you. you can understand in the middle of all of this why better than 3 million have left the country, or are on their way out of the country. where they are going, after this your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

neil: all right, just think about this. more than 3 million ukrainians have left or are still scrambl ing to get out of the country. that's almost 10% of the population, and the numbers aren't slowing down they are increasing and what is the largest refugee crisis certainly in the european continent since after world war ii, jeff paul in warsaw, poland with more on the process and how it's going, particularly in poland. jeff? reporter: yeah, neil, it's not easy, for cities like warsaw to take on so many people at once but as we're seeing throughout poland, so many communities are putting out that hand and trying to help as many refugees as possible. the shelter we're in housing about 125 people, but it is a sort of transitional place.

you're only supposed to be here for one to three days until you figure out a more permanent move and that's where every day polish families come into the picture opening their doors case after case of their own home allowing many ukrainian families to come in and stay with them inside their home. we spoke with one ukrainian mother who says being inside the home with another family has offered a little bit of stability. she told us that in feeling normal normalcy, especially for her younger kids who had to leave their father behind so he can serve and are still trying to process this invasion. she says leaving home has made many ukrainians realize how much they love their country. >> we all wanted to go somewhere in europe to live there, because life in ukraine is not so easy. now i'm talking to my friends to those who came here from ukraine , and all of us want to come back to ukraine, all of us,

because there's something inside us. reporter: now for the polish families hosting the refugees they say its strengthened the meaning with their relationship to the direct neighbor to the east. one family who lives just outside of warsaw tells us they tried to put themselves in their shoes and it was an easy decision to open their doors. >> so now is the time to prove what you talk about. it's easy to go to church every sunday and talk about values, but it isn't always easy to actually do the things, and this is the moment, when i can redo the things to show that the hospitality isn't just a mere word there. reporter: now one of the younger ukrainian girls we spoke with involved in that family we first showed you earlier in the story told us that she's going to try to get her education while she's in poland but as far as long term goals and what her future means, she says really, that's in putin's hands right now. neil? neil: yeah, just take it a day at a time. very inspiring jeff paul, thank you very very much, my friend.

also very inspiring is the yo men's work we're seeing out of the red cross, dominic stillheart is the director of operations at the international committee of the red cross. they are shepherding a process that now is distributing food to nearly 100,000 parcels and just to keep up with this and it's a growing demand. dominic, very good to have you. how are things looking right now >> well, thank you for having me. look, the situation is dire. you said it before, within only 21 days of war, we've seen already more than 3 million refugees and probably an equal number of people who are displaced in ukraine and think about the hundreds of thousands of people who are trapped in these towns such as mariupol where food, water, electricity, is running out and people are

just sitting in cold, damp basements feeling for their life so the situation becomes more and more difficult by the day. neil: and you know, you think about it, dominic, your people are in harms way themselves, when these humanitarian paths out of the country for people that want to leave and aid to come in, anyone on those paths or getting people to those paths are targets as well of russian air strikes and the rest. how do you balance all of that? >> well, yeah, that's exactly the type of situations that we are dealing with on a nearly daily basis and that is why it is so important that the parties agree on practical actionable and precise ways of providing safe passage to people , because it is only then

we can really be confident that our own people can accompany people out of towns such as in s umy where a couple of days ago, we accompanied thousands of people out of that town, helped elderly people, women, children get on these buses and out of harms way. neil: now, we're told that a number of older ukrainians who very much want to leave can't. they are physically not up to it can you tell me more about that? >> yes. look, we see that in many many different war zones. the first ones who leave are those who can, and very often, we are then dealing with situations where only those who cannot don't want to are staying behind and particularly that is the case for elderly people and that is precisely why the focus

cannot just be on people getting out. it is absolutely critical that the basic rules of international humanitarian law are respected and that means that all the civilians have a right to be protected, including those who stay in these towns that are subject to these very heavy fightings that we see now. neil: dominic stillhart, thank you for all you do, director of operations international committee of the red cross, you can see the low part of your screen redcross.org/foxforward if you want to give help, something that started with a million dollar commitment on the part of fox has just balloon ed thanks to your generosity and your big heart. still tap it, still use it, step give it. we'll have more, after this. i'm greg, i'm 68 years old.

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♪. neil: you know building markets climb a wall of worry. a lot of worry tossed to the market this is week, interest rate hikes, ongoing, getting nastier more horrific war in ukraine. through it all, today's gains, holds through tomorrow, we're looking at one of the best market weeks for all the major averages, dow, s&p, nasdaq in quite a long time here, certainly going back to 2020. a lot is built on the belief

that things might be looking promising on the peace talk front. that might be a bit of a leap, that the federal reserve will be aggressive and finally getting out from being behind the curve. that might be optimistic. be that as it may, the hope there will be good reason to buy because we oversold. that is the hope, for those who want to buy as they look at the people who sold. we'll see. charles payne, right now. charles: hey, neil. person due lump goes back and forth. finally moving the other way. thanks a lot. good afternoon, i'm charles payne this is "making money." breaking right now it is the day after. while debate rages whether the fed pulls off ambitious plans, jay powell, he knows how to sweet talk stock investors when he has to. bond investors a different story. president biden signing off on hundreds of millions of more aid to ukraine. the president says it is simply not enough. pressure mounts on capitol hill