of course you need a very special capsule to do it. a lot of pressure down there at that depth. check the markets real fast. the dow down 170 but the nasdaq, and s&p a just a little higher. oil, where are we? $110 a barrel. quite a problem for the market. my time is up. a great show. thanks so much for joining us. neil, it is yours. neil: neil: stuart, thank you very much. we're following the run-up in oil prices, certainly a run-up in yield. the 10-year note, partly why we're down 169 points because of the runup in oil prices and the ongoing targeting it would seem of civilians in ukraine we've got a 10-year note at about 2.25%. that is a huge backup here. we're seeing similar bab just at a two year and 30 year bond. both of those at multiyear highs when it comes to yields here, on the belief federal reserve might

have to more aggressively hike interest rates beyond what it is committed to, roughly a quarter-point hike at every fomc meeting, every six weeks for the remaining of the year. consensus seems to be building unless it reverses and soon it will have to get in front of this and right now it is not. we have you covered on everything. we'll go to mike tobin in lviv right now amid the allegations that russian soldiers are in fact targeting civilians, the latest taking out a shopping mall in the capital city. also we'll be hearing from alabama senator tommy tuberville what he makes of our response should be, maybe what the president should do when he goes to europe this week. and a little later in the show amidst a runup in oil and gas prices no wonder electric vehicles are all the draw these days. why gm is beginning to frontload some new offerings including a big one today. we'll speak to mark royce, the general motors president momentarily.

let's go to mike tobin in lviv, ukraine, own the refusal on the part of those in mariupol for example, to surrender to the russians. mike? reporter: that is true. to start you off in the north of country, north central part of the country where a mall just north of the capital city of kyiv was flattened today by a russian missile strike. in the very early hours of the morning. we've got video of that strike. the ukrainian prosecutor general says eight people were killed and says this will amount to a war crime. vladimir clip coy, the brother of the mayor, this is the russians starting to starve ukrainians until they pressure their leaders. place where people are starving is mariupol. that town has been under siege for two weeks. the russian defense minister offered a escape for civilians with a cease-fire but ukrainian fighters needed to hand over weapons and surrender. it was flatly rejected. in a town of mikoliv where a

marine barrack was bombed. the one target was a hotel. the other was a shipyard. the mayor says the people are standing their ground and fighting. >> they are motivated, ready to defend our city, ready to stand until the last ammo. as for woman, we're trying to, woman we're trying to evacuate from the city. to be honest not many people want to evacuate now. reporter: here in the western part of the country the air raid sirens sounded three times today. no impact following those sirens. neil, back to you. neil: mike tobin, thank you very much, mike, do appreciate it. connell mcshane right now has been monitoring the map so to speak where these russian forces are targeting. i think it is safe to say, connell, pretty much everywhere. reporter: they're trying their best, neil. it is also important to point out follow up what mike is saying as there, as much damage and destruction being done

especially to the civilian targets all over the country the russian advance for weeks now has stalled in many parts of the country. we see that in wider view of the map with the red being the russian controlled territories. the white arrows showing you what we labeled access of advance. this is where the russian troops like to keep going in estimation of many analysts they have been speaking to. they haven't been able to do it because of the stiff ukrainian resistance in kyiv, kharkiv and even in mariupol. we want to focus on a little bit of that today. that is where a lot of heaviest fighting is taking place. if you zoom in, take a closer look at mariupol have seen the threat coming in from the russian forces last night. basically an ultimate made given to the ukrainians we'll give you safe passage out everything foes along with it. ukrainians rejected that.

we've seen these type of things happening. a mall being destroyed. we talked about the maternity hospital on the 9th of march, a theater on 16th of march. on and on. eight examples. we could put double or triple number on the screen to show you what is happening. this is the type of a thing tells part of a story. sometimes you're looking at maps they only do tell a part of the story. many times you're better off with pictures and photos here. that is the mall. that is a picture taken before the hostilities began of that shopping mall in kyiv that was hit so hard. that is the before picture. this is what that same area looks like right now. this woman and her dog came to take a look what happened. you can see the sign sport, almost can make it out on the left, after the russians bombed that area. that is what a capital city at a major european capital city of kyiv looks like and how dangerous it really is for people to be operateing in there right now. as final point, neil, we've been talking throughout about the

refugee flow. we've seen interesting numbers. the total number of refugees has gotten up to 3 1/2 million moving out of the country. poland is the high number over two million here. a couple of things stand out about this. number one, the three million number is a lot higher than that, 3 1/2 million. the u.n.'s high commissioner on refugees said over the weekend there are 10 million ukrainians now displaced by this war. 3 1/2 is the number that left the country. the rest left their homes somewhere else in ukraine. 10 million here in a month of fighting. the other thing we keep in mind the impact this is going to have, neil on the european continent an economies associated with it. these numbers can be a little tving. instead of two million plus in poland, i will put the number of 52 up there for a moment. look at little moldova, instead of 365,000 in moldova. we'll use a number that is 136. when you look at a number per

capita. 52 refugees per 1000 residents in poland. there are 136 residents per 1000 in moldova. when you hear about the countries, the impact it is going to be very, very difficult for some of the smaller countries to absorb all the people coming in over the last month. neil. neil: just incredible. thank you, connell, very, very much. connell mcshane following all of those developments. to accentuate the point civilians are target of these attacks, they're is little doubt that they are, we're hearing from the kyiv mayor, a new curfew imposed because of likelihood of more shelling. the read on all of this from alabama senator tommy tuberville who joins us right now. senator, what do you make of this, beyond doubt now, when russian air raids are targeting malls, they're not looking for soldiers. they're looking to inflict damage on civilian population. it has been echoed in attacks on hospitals, on theaters.

what do you make of that strategy? >> well, neil, it is about food supply and water putin figured out this will not be real easy. he thought it would be a two or three-day ordeal. it didn't work out that day. so now he is encircling kyiv. that is where president zelenskyy is at. only one road in and out that is not taken by the russians. they're getting supplies to that road. sooner or later they will close it down. missiles are hitting malls and supermarkets. they're trying to put as much pressure on citizens, not the army. but citizens as possible. they will be ones say eventually enough is enough, let's get out of this. you have to feel from ukraine. we led from behind on this whole thing. five months ago we should have put weapons in, sanctions on but biden he continues to lead from behind and if he doesn't start, wake up and start playing the leader of the free world we'll continue to have problems.

neil: so when you say play leader of the free world, senator, does that include air support? does that include allowing those migs the pols want to get in there in there? >> well, here is what i'm talking about, neil. i was over in ukraine just a few months ago. zelenskyy told us then, guys, they're coming. we need weapons. we need to you help us. we talked to, lindsey graham and i talked to four generals, listen we're losing hundreds a week, thousands a month already. they're coming across the border. i don't think biden nor did nato think they were going to cross the border. they should have, nato and biden should have got together months ago, guys, listen, here is the deal. let's start putting sanctions on. put the missiles, surface-to-air missiles on the ground, prepare them, get ready. you can't do it after the war started. we're trying to panic, give them money, give them supplies. it doesn't work. game, set, match. putin want the power. he doesn't want peace.

he is trying his best, he is trying his best to knock out the citizens of the country to turn against zelenskyy. it is not going to happen. they are strong. they have strong will. they love democracy. they don't want to be under a dictator like putin. neil: having said all that, senator, you were quite right, you were issuing these warnings sometime ago, we can't correct the past to your point, do you think the time has come, as do a number of your colleagues we up the ante now, that we provide air cover because our strategy is one to worry over what vladmir putin will do, but he has already done so many heinous things, too late for that, go ahead give them the air support the ukrainians are asking for, do you concur? >> we don't need to get into that, neil. we need to stay out of it. even zelenskyy told us six or seven months i do not want y'all in this war. i want our people to do it. we want to do it. just help us, physically help us with supplies, with things that we can use to fight off the

russians. they don't want that part. neil: include those migs though, senator? that is also what he is pushing for. you know better than many as he was addressing a session of congress last week, he wanted those? >> if the migs would help. they still have migs themselves, neil. they're not getting them off the ground very much. they're using themingly, if that would help, i don't think that the key to it. the key to it is diplomacy. we have to get the ukrainians out of it. through diplomacy with putin, talking with zelenskyy. he is saying i want to talk, i want to get this on the table to talk straight to putin. putin sees him he panicked a little bit. he is playing with his toys. he shot two hypersonic missiles. that wasn't for ukraine but to tell us look what i got and they

work. they want us to back off. he is hitting supply lines with those. he could have shot downtown kyiv, made a west. he went across the country to the west part of ukraine, hit a supply dump. we have to be careful what we do. we should have done what we were going to do four or five months ago. we're playing from behind. it's a home field advantage for ukraine. that is the reason they end up their end of the bargain. their end of the bargain is coming to a close. they're slowly choking them off. we need to save as many people as we possibly can. thank goodness the nato leaders are finally getting together. biden is arriving a bicycle over the weekend. get there and get this solved. they want help. the must now is diplomacy, sitting down with putin, getting on the phone talking to him, saving as possible many lives as we can. these people are in trouble. neil: senator tuberville, thank you very much. president in fact is going to

brussels this week to stop in poland. indications he might go to ukraine. they're not talking about that. senator, much appreciate it. let's go to the former translator of ukrainian president victor i yesthenko. he is behind the eight ball. escalating attacks on civilians seem to be a strategy. what do you think of that strategy? >> hi, neil, thanks for having me. yes indeed i was listening to what the senator has said but before i give you the exact answer let me tell you two quick stories. number one story, earlier today a 96-year-old citizen of kharkiv surviving four concentration camps, nazi concentration camps was shot dead by a russian

bullet. story number two, same russia provided these bullets to shoot this old man, surviving four concentration camps bans nice back and instagram on the grounds that these are extremist media. after these two stories i have a question to the senator, what kind of diplomacy do you expect to work with these people? what common sense do you expect to work with these people? what kind of persuasion, arguments can you expect to work with these people? no, i do not believe, no ukrainian believes that any diplomatic moves, actions can somehow change the twisted mine of this lunatic of this paranoid. neil: so your view, a lot of people, i could point to in this country as well, sir, diplomacy

a waste of time. russians don't honor any agreement they make, even up so-called humanitarian passageways, they haven't stuck with that, so what do we do? one of the things president zelenskyy lot and a lot of ukrainians want to get more air support, to police the skies, to give an even field or try to get an even field against the russian air onslaught, what do you make of that? if you don't get that what do you think happens? >> i, first of all, i fully subscribe to each word spoken by president zelenskyy when he addressed the joint session of congress and the senate and in that address president zelenskyy described in every detail what exactly ukraine is expecting the u.s. and the west collectively to undertake. i will not repeat all, all the

talking points of his speech. yes, if the collective west is reluctant to provide this no-fly zone which is quite understandable, we do need serious weaponry including aircraft, fighter jets and other things and that everything that we need is on the table of all the decisionmakers across the board in europe and the u.s. so until -- look, it's important to understand that as long as the west is confining itself to sanctions this is something that president putin is very happy about because all the sanctions do not in in he way touch upon him personally. yeah, they bite his oligarchs, they bite russian citizens but

he is quite happy because he sees the west does not, does not want to get involved in this fight. the west kind of says, oh, no, it is not our war, we better stay aside and that is exactly what putin wants. so not until there is any military involvement, whether in the form of providing all this materiel and all the armaments that ukraine desperately needs, not until he sees that, he will be, kind of motivated to change his mind. neil: so when there is this fear in the west that if we gave, you know, air support to ukraine, that it would lead to a wider war, world war iii, others have said that vladmir putin has had such a difficult time getting ukraine under control, he is nowhere near that after a month of fighting he would be crazy to

try to move into another country because his soldiers are not up to the task. where are you on this? >> well i think that we have taken too much time testing the degree of his paranoia and lunacy. i think that by now it is perfectly clear expecting some logical moves from this man is impossible and i think it has to be clearly understood that if he is not stopped this point, because, you know, he has already made it clear that his goal is not ukraine. ukraine is just an intermediate point in his advancement against, in his crusade i would say against all this, west that is trying to oppress and enslave the russian nation.

so it has to be clearly understood that this war will not end in ukraine. unless it is stopped collectively. whether or not he will resort to nukes i don't know. nobody does. maybe even putin doesn't know but i think that the message is very clear. it is not about ukraine. it is about the civilization. neil: yeah. to your point he is using supersonic missiles and the rest, up to and can include everything. former translator of ukrainian president victor yushchenko, thank you very much. >> thank you, neil. neil: the backdrop for all of this some nervous selling at the corner of wall and broad today, but particularly what is going on with interest rates. they are backing way, way up. a 10-year note, little more than a what, a month 1/2 ago we were

at about 1 and 3/4% on a 10-year note. now another of 2.25%. that is a half-point hike, those are market rates over the which the federal reserve has no control but even with the pace of interest rate it can control the overnight lending rate even that might not be enough. we're on it after this. - i'm norm. - i'm szasz. [norm] and we live in columbia, missouri. we do consulting, but we also write. [szasz] we take care of ourselves constantly; it's important. we walk three to five times a week, a couple miles at a time.

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neil: all right, oil prices moving up again, about 110 bucks a barrel. the spillover is pretty much everywhere. let's go to jackie deangelis following it all. jackie. reporter: good afternoon to you, neil. the charts show we're up 5% just today on wti, that is crude oil prices. these prices are still off the most recent highs and that is important to note but the pop we're seeing today over fresh concerns what is happening between russia and ukraine. the latest europe is considering joining the russian oil embargo. that would create a supply issue. that would have impact on these prices. the expectation of course is that this week a series of meetings led by eu leaders could come to that conclusion. president biden is going to join them at a summit on thursday. of course putin says that a european oil embargo will hurt europe more than it will hurt

russia. in some ways that is true because europe gets 2/3 of its energy supplies from russia. meanwhile an off the record briefing for oil bank and food executives in this country will be held at the white house today. it will be led by national economic council director brian decent. jake sullivan and commerce secretary gina raimondo. execs from visa, bank of america, land o' lakes, are just some names that are expected to attend. president biden isn't going to be there but there have been calls to get these oil companies to sit down with this administration to figure out how to strike a balance to supply more oil in order to brings today devices down to help the other countries pivot from russian oil during this crisis and possibly even after. speaking of gas prices, the national average for regular has dropped to $4.25 according to aaa. prices of course were as high as

3.34 just about a week ago, a month ago, 3.53. so we're seeing slight relief for some consumers but not enough at the moment with their costs rising. many uber and lyft drivers are considering quitting and having the company, those companies have added a 55-cent per ride surcharge to help offset the rising fuel prices as well. the drivers, actually, i didn't know this they pay for that fuel themselves, neil. so they are feeling it. neil: yeah. it will be a devil of a time getting more drivers if some of these drivers do quit as many of them have. jackie, thank you very much. reporter: sure. neil: jackie deangelis with that. rob luna, surevest ceo. what he makes of this. war is dictating trade sentiment at the corner of wall and booed we're seeing it play out again. i guess that will be the case as long as the war drags on, what do you think?

>> yeah, neil, you know markets hate uncertainty and this is one of the greatest uncertainties the market is facing right now but there are some positive notes as well. if you look at the nasdaq, last week it really bottomed last monday, again today they were trying to sell it off but it has found a bottom here. i think one of the major uncertainties taken out of the market is the fed. even though we're in a higher interest rate environment that has been telegraphed so the market can prepare for that but with russia and ukraine obviously that will be daily headlines to keep volatility in the market. neil: i wonder what does the market want from the fed? it seemed okay with the strategy with quarter point hike every time the fed meets every six weeks. then it hears of internal fighting going on at the fed with some advocatinger increases between inbetween meetings, with others say steady as she goes

it? what do you think the market would want? >> bullard obviously wanted 50 basis point last week. neil: right. >> i think the market right here i think as you mentioned like what the fed has telegraphed. i think it will be 25 basis points. i think the way they're doing this, look they could have done 50 if they really thought the economy was strong. i think they believe as do i, a lot of inflation that we're seeing with oil is still supply issue. it is not necessarily demand side. covid shut the entire world supply chain down for almost a year and we're still grappling with that. so i think what they're trying to do is measure it. they telegraphed seven, a couple next year. by doing it that way, if they see things slowing down, supply chain opens back up they have wiggle room. the market likes it at this point. if they thought it was getting out of control you wouldn't see technology leading as it has since the fed announced. neil: yeah. technology is still kind of

holding its own from the lows. we were up about 12% from those lows. what do you make of that? >> yeah. well i think, there is two things with technology and why i like it here. first of all it has been decimated. you look at a lot of these names out there, down 50, 60%, especially in the smaller high growth tech names that we saw skyrocketing for the last couple of years. now let's look what is going on. the fed is trying to slow down the economy. that means that it is going to get harder and harder to grow top line earnings. there is no segment of the market right now that is positioned better to grow top line other than tech. you look at some of these two trillion dollar companies like amazon, google, they are still growing at 20%. the other big worry, neil, about the market right now, everyone is worried about the resurgence in covid. we got news out of china shanghai disney will be shutting down again. neil: that's right. >> they're worried about that. you remember technology during

google did really quite well, i'm sorry during covid did quite well. will not be impacted as much. that is why you're seeing technology catch a bid here. neil: all right. let's see how long that lasts. rob, great catching up with you. rob luna, surevest ceo. he is right, technology more than holding its own but concerns about china as he just mentioned as well. shanghai disney is shutting down because of a spike in covid cases. now news of a plane crash, commercial plane crash in china also bedeviling a lot of folks there because it is rare, very rare, after this. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪

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i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com ♪. neil: all right. we're still trying to get details on a plane crash in china today involving a boeing 737 plane. it was an eastern airlines china plane that went down in the southern part of the country. 132 were onboard. rescuers are on the scene. there does not seem to be any

indication of survivors. we'll keep you posted on that. this has been weighing on boeing's stock right now which is still dealing with the aftermath of the 737 max issue. this does not appear to be a 737 max plane but any concerns around the crash are weighing on the stock. we would be close to even money right now in the markets, i should say, boeing, a dow component,down about 3 and 3/4%. we'll keep an eye on it before you. meantime mark meredith over at the pentagon here on the role china has in this whole ukraine war issue and how much help it might or might not give the russians. of course they're asking for military aid as well. that does not seem to be in the offing but they're pretty cagey on other things, aren't they? reporter: they sure are, neil. funny we were talking about this on saturday morning, you and i, the reverberation of the phone call are still happening t was on friday the u.s. warned china not to assist russia with the military invasion in ukraine or

there would be consequences. we're not hearing from the administration what the repercussions may be. china already played a role in this crisis. remember the chinese asked the russians to hold off on the invasion until after the beijing winter games. china said it told president biden china wants to see a peaceful diplomatic solution to this. china not criticizing russia military or president putin. china's ambassador to the u.s. spoke to the cbs over the weekend. he admits the two countries remain close for many reasons. >> we have long shared border, as long as over 4,000 kilometers. we have a lot of common interests. >> uh-huh. >> and trust relations with russia gave us a unique position. reporter: foreign affairs experts continue to closely watch if russia's invasion could prompt china to take action against taiwan. the u.s. still showing no sign of pulling back in sales of defensive weapons to taiwan but the chinese are basically urging

the u.s. to tread carefully here. they're also criticizing a recent decision to send a navy destroyer through the taiwan strait. we're also hearing from the command of u.s. indo-pacific command, that china continues to build up its own military presence in the south china seas and have fully militarized three islands it recently built. this is important it would give china more military resources into the area. there are fears it could create problems for international traffic both by the air and by the sea. neil. neil: mark meredith, thank you very much my friend. i want to go to a former secretary of defense and former house armed services committee deputy director. roger, always good to have you. we wonder what role the chinese will play in this even if you take military help off the table. there is still a lot they can do economically, not the least of which, buy russian oil to make

up for business they're losing elsewhere but there are other things they can do. what do you fear? >> that's right. china is giving cover and support for put pew as the last report outlined before the beijing olympics. china not only asked putin to delay the position, but came out and established detente, their axis. they want to work together to undermine the united states and its allies benefit of them. xi undermining u.s. efforts to support taiwan and maintain its interests in the indopacific region. so they are absolutely working together. they will, china, that is, will support putin economically and probably militarily as well. that is conversation between president biden and she -- xi last week, regardless of the official statements are they are absolutely working against our

interests. neil: still china doesn't want to go too far, even on the economic stuff it has a lot more at stake with the sanctions and other punitive measures, western powers have taken, if that were to happen to china, our bigger global economic player, that could do untold damage to china. so how does it walk that line? >> no doubt it is far more complicated in the indopacific the economic ties between the united states and china are the primary example but it goes beyond that but the way xi is playing it that xi is using putin. what putin is doing in ukraine absolutely advances the chinese interests. it puts pressure on the united states. it puts pressure on nato. xi and china will learn from how the west responds. that's why putin's success in ukraine benefits xi, gives them the ability to have more confidence and a pathway, a framework for how to address their interests whether it is taiwan more broadly the indopacific.

china wants to suggest they want to be a kind of a diplomatic asset here to advance the negotiations. they're here to support vladmir putin. that is the only interests here. that is what will drive china's interests and benefit them in this conflict. neil: interesting. roger, want to thank you very much. roger zakheim. we're after the session lows for the dow, down 277 points. likely having to do with jerome powell speaking before the national association of business economists which he is not ruling out more aggressive rate hikes so that, said fed policy can lower inflation without causing a recession. he also laid out the possibility that they could up the ante beyond this quarter point at a time increase here, that some more aggressive members of the fed including mr. bullard have argued for. and again saying that we have to be in front of this. now only thing i could see to

explain this backup in rates. the 10-year already had been backingup to north of about 2.25%. that has moved up about a half a percentage point, a little bit more from its lows. so a lot of this could be on the notion here that the federal reserve is indeed quite open to being much more aggressive than it has laid out. he does think that is jerome powell, that they can steer a soft landing. if so, it would be one of the first times we've seen the federal reserve do that. meantime, another big worry from the markets has been this dramatic spike in covid cases particularly in asia and china where shanghai disney has been shut down and more than 75 million chinese citizens are in essential lockdown right now. we're seeing spike in cases much of the european continent. record number of deaths for the country of italy. jonathan serrie following it all in atlanta, jonathan, the big worry could any of that come here, right? reporter: that is the big fear. here in the u.s. now the daily case level is at the lowest

level since last july but the highly infectious omicron sub variant. ba.2 is driving cases in the uk. what happens there often happens here several weeks later. they are calling on congress to approve the white house request for additional funds to meet the challenge. >> our goal is to keep people out of the hospital, save their lives. we have more tools to do that ever before. our focus should be on preparation, not panic. if we get the tools, vaccines, boosters, treatments we can get through waves that may come and go. reporter: ba.2 is driving up cases in china's lin province which over the weekend reported mainland china first covid related deaths, two of them in a year. both involved elderly patients with underlying conditions. dr. anthony fauci says the u.s. can avoid this from happening by continuing to get people vaccinated and boosted. >> don't see us going back into

anymore really very strict kinds of restrictions but you always have to have the flexibility. reporter: nearly 77% of the u.s. population has received at least one covid vaccine shot. neil? neil: jonathan, thank you very much for that. we're getting more details what jerome powell is saying at the national association of business economists gathering. he talks about the oil runup, and some of the shocks to the system he seems to be indicating it is going to be short-lived or at least hopes that will be the case quoting from him now, today a rise in oil prices has mixed effects on the economy, lowering real household incomes and thus demand, raising investment in drilling over time an benefiting oil producing areas more generally. on net, he added, oil shocks tend to weigh on output in the u.s. economy but far less than of the 1970s. at least that is what hopes. the dow down 233 points. you are watching fox business.

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quarter point revision at every fed meeting. they meet about every six weeks or so. laying out the possibility if things get out of hand he could easily go up half a point or more than was intended. of course in the eyes of the beholder whether that is good or bad news. it could be a sign fed is getting ahead of the curve instead of being behind the curve, if you welcome it. if you think too much too soon you don't welcome it. it's a draw. we're well off the lows, or the highs. i think we're in the middle. dow off 239 points. 10-year note which the federal reserve has no control, markets determine that, darn near close to 2.30%. attention in washington to other big developments including confirmation hearings for the woman that joe biden wants to make the next supreme court justice. ketanji brown jackson, those hearings on now. they will be going on all week. shannon bream watching all of that from washington.

reporter: neil, the nominee, judge jackson has been here in the room for hours right now. we have yet to hear from her. that ask because all the senators who sit on the senate judiciary committee get to say their piece first. one by one they talk about what we want to hear from the nominee, the questions they will ask this week. talk about the republicans, josh hawley senator has been asking a lot of questions about whether or not this nominee, judge jackson is quote soft on crime. he went back found 10 cases she had the opportunity to sentence someone convicted on the possession of child pornography. went below the innocence sentencing guidelines and what the prosecution asked for. dick durbin, joined the white house pushing back hard on those questions. he said this a little a few minutes ago. >> they fly in the face of pledges my colleagues made would approach the nomination with respect. affect chickers including

"washington post," abc news, cnn exposed some of these charges as falsehoods. reporter: republicans in this hearing today saying asking about someone's record is not disrespectful or uncivil. any nominee that will come before the committee should expect they will get tough questions. senator lindsey graham made that point. listen on his watch he wants to make sure things are civil. he doesn't want to turn it happened with last couple of hearings with now justices, nominees, barrett and kavanaugh. here is what he said. >> it will be a couple of interesting days and we're off to a better start than we have been in the past and one thing i can promise you will not be vilified. you will not be attacked for your religious views. you will not be accused of something that you could not defend yourself against until it was too late. reporter: so a number of these gop senators brought up how

contentious those last couple hearings got. they are still it sounds a bit salty what went on, how those hearings went down. so far pretty quiet. the questioning, the grilling will actually begin in earnest tomorrow. we should hear from judge jackson before it wraps up today. the real questions, neil, start tuesday morning. neil: got it. thank you very much for that shannon bream in washington on hearings that commence in ernest today but really she said tomorrow. carrie severino judicial crisis president, former clerk of justice clarence thomas. good to have you. if you don't mind me asking, you follow the latest on justice thomas right now. he is expected to be okay. is he okay and what are you hearing? >> yeah. i think they caught this infection pretty early. they were able to give him antibiotics he needed. sounds like he turned a corner. reading briefs, working, joking with the staff in the hospital which doesn't surprise me at all

because that is really his personality. so that makes me feel very confident. i'm glad to hear he is feeling better. neil: absolutely. thank you for that, carrie. now on how you think the confirmation hearings will go for ketanji brown jackson. obviously anytime a president supreme court pick comes up at hearings for confirmation the other party deemed to be going too far. the party in power says the other guys are going way too far. where do you see this right now, her prospects and what they will really look into? >> yes. so what we've seen so far is you know, you can talk about the one side says the other doesn't like the other side saying, there is still a stark difference between the type of atmosphere around this hearing than one we saw for example for brett kavanaugh's hearing, one we saw there were other visitors allowed in the

room. i was struck after senator durbin finished his opening comments it took ten minutes senator grassley tried to make his opening comments in the kavanaugh hearings, well before the blasey ford issue came up, took him an hour, people standing up shouting, people taken off being arrested. really incredibly different environment. so i'm glad we have a civil hearing now. i'm sorry to say that seems like only republican nominees are the ones who are subjected to the incivility but i think there is some distinctions that are being blurred here because a lot of democrats are saying we want a civil hearing kind of let her go through. that is not what anyone wants to see. we just don't want to have hearings complete kabuki theater. we dig into the nominee's record. we should have a civil and meaty discussion. so far she hasn't said she doesn't have constitutional

philosophy. one thing if you're on appeals court but entirely different thing if you're one of the nine supreme court justice being final word on interpreting that constitution. neil: interesting how it is being failed, if you ask or raise any difficult issues, you're almost racist that what that seems to be coming down too. if republicans raised legitimate questions about you know, whether she has been particularly lenient on jail terms at times behind bars for criminals, these are all legitimate issues but, i hope this doesn't pan out this way but it seeps we'll see it through the prism of her race and i don't know if that is even fair to her? >> yeah. i agree. senator cruz kind of previewed that a few moments ago in his comments anytime someone disagrees they're getting called race i. that is an insult to our whole public discourse. it is insult to the senators and really to the nominee herself.

we're talking about serious questions in a judicial record that spans almost nine years. so of course it is fair game to talk about what are some of the decisions she made from sentencing to decisions dealing with trump regulations, decisions for which she has been overturned even by her liberal colleagues in many cases. let's get into the questions. you can do so on fairgrounds. as senator cruz pointed out as we all know same democrats on this committee who are going quickly to the racism issue using that as an ad homonym against their opponents were the same people who voted to filibuster for example, judge janice rogers brown who could have been the first black woman on the supreme court but for some of the threats that president biden made she would be filibustered if she were nominated to that seat. these are some of the same people that helped attack justice thomas when he was put up. so we know that there is, you can disagree with people without having to, without it being a racial issue. i think the real meat of the

question is going to be what is her judicial philosphy and how can she defend her judicial record up to this point. neil: all fair questions. i'm glad you reminded me of some of those other historical examples, carrie, very good points all. very good seeing you. >> great to be here. neil: all right. in the meantime here you can see we're down almost 300 points a lot of it has to do with jerome powell remarks that he could be more aggressive fighting inflation, with the possibility of hiking rates up to a half a point of the latest hike was a quarter of a point. he seemed to be sending a signal i can do better than that and will if conditions warrant. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get

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neil: all right, we are following the market, the dow in and out of session lows, down about 313 points now. certainly boeing is a big part of it. one of its jets crashed in china. to indication as to whether the 737 in question had anything directly to do with that, but 132 people are feared dead this one of the rarest of commercial jet crashes we've seen over the last few years. this one has very few explanations. so that has the maker of this jet in question weighing certainly on the dow. i don't want to minimize that. but i'm also hearing some reports out of jerome powell and comments that he made at the national association of business economists in which he was asked about the state of inflation, that he keeps vigilant are on it

and is open to raising interest rates more aggressively than the quarter point variety we saw for the first time last week. and it could go beyond that in future weeks. and that alone has led to a backup in market rates over which the federal reserve has little control. the 10-year note now slipping back close to 2.3%. remember, it wasn't all that long ago it was at 1.75%. regular market rates have backed up a half a point. higher energy prices are not helping matters any, and the ongoing war in ukraine getting particularly vicious now, not helping matters any as well. let's go to edward lawrence following all of these developments ahead of the president's big trip to brussels this week. he's stopping in poland as well. we don't know where else. edward, what's the latest? >> yeah, you know, and this is just monday, neil, that we're dealing with. i can tell you jamie dimon was spotted coming into the white house here about 20 minutes ago,

obviously, the ceo of jpmorgan chase. he's one of the many executives that's going to be in a meeting here at 1:00 not with the president, but with the nec director as well as jake sullivan, national security adviser, treasury secretary and secretary of commerce. the president, for his part, got on a phone call earlier this morning with the leaders of france, germany, italy and the united kingdom to talk about the next steps going on with ukraine. now, on the agenda there's been talk about the russians, the europeans actually banning russian oil coming into europe. so that's on the awe general da -- agenda. also this week for the first time since russia invaded, the president going to europe, will be talking face to face with other nato leaders, setting an extraordinary meeting, is what they call it, an emergency meeting. then the g7 meeting, then they'll be wrapping with the european union council meeting all for president biden on thursday. now, both president biden and nato have made it very clear

they will give weapons to ukraine and support other non-nato allies but will not do anything that appears to escalate the situation in the ideas of the russian president. this trip comes fresh off the video call with chinese president xi jinping trying to warn the chinese to the to help russia. representative michael waltz says china is helping russia, and when it moved their union card in to russia, he said there is coordination regardless of what the chinese say. >> i think we should be sanctioning them right now. we should be putting secondary sanctions on chinese entities that are outright supporting russia, because we have to take a stand now while we still can. >> reporter: still china says they will not stop normal economic relations with russia. that will be on the agenda for the president to speak to those european leaders when he gets over there on thursday. back to you, neil. neil: all right. edward lawrence at the white house, thank you for all of

that. let's go to lviv, ukraine, right now where they're hearing sigh sirens -- sirens yet again. jeff paul is there. what's going on? >> reporter: yeah, neil, it remains fairly calm here in lviv, ukraine, in western ukraine where most people are going about their daily lives. however, just moments ago we heard air raid sirens, we've been hearing them throughout the day which is a constant reminder no matter where you're at in this country right now, it remains under constant threat, and that can't be any more clear than from some of these images coming out of kyiv, ukraine, especially some of the images from last night. that's where crews right now are sort of sifting through the rubble after a shopping center there was blown up. ukrainian officials say at least eight people were killed after russian forces launched a rocket into a mall in kyiv. the blast was so intense, it destroyed cars parked outside and sent shrapnel into surrounding homes. one resident who lived nearby said it's difficult to put this

destruction into words. >> translator: it's hard for me to speak because my child used to work here. she was at work just yesterday. and that thing happened yesterday evening. >> reporter: -- recently demanded ukraine essentially surrender the city of mariupol, but the mayor of the i city quickly shot down the threatening offer. russian forces have encircled the city where troops continue to bombard the area. i city officials say at least 2300 people have died in that city, hundreds of thousands of others within mariupol are struggling to kept out, to find safe passage, so they remain stuck. and because of these ongoing threats throughout the country in cities like hair pole and in cities like -- mariupol and kyiv, the mayor to is extending the curfew, starts tonight 8:00 local time and is going to last through wednesday morning. we also have a curfew here as those air raid sirens continue to sound off. neil: jeff paul, please be safe,

lviv, ukraine. he mentioned mariupol, the coastal city that's been under attack. the russians say it's theirs and want mariupol to, essentially, surrender. ukraine has rejected that ultimatum to surrender or. the realize from my colleague and friend jack keane on all of this. general, what do you makeover it? -- make of this? their stance is they will not surrender, but they could be in for, cleary, civilian-targeted attacks as a result of all of this. what do you think? >> -- the right answer, and you certainly have to respect the resolve that they have given the suffering that's taking place. this is the russian way of war, certainly, to impose true hardship and devastation on a civilian population to get their capitulation. certainly ukrainians are determined not to do that. and incident to that, though, is that we have to continue to help

them quite dramatically. this is going to grind on. the russians have failed to accomplish their major objective to topple kyiv and the government as well. and where we are now is their ground campaign in the northern sector is halted, and they're actually putting in defensive positions. that means they're going to grind this out over time, and they've had some success at mariupol, as you mentioned, to build a land bridge from eastern ukraine to crimea. but nonetheless, the challenges ahead for the united states and and nato is to make certain that we continue to give all the resources that we can to the ukrainians because this will likely go on for weeks and possibly months. and the keys to the ukrainians' success in addition to their will and resolve are the arms and munitions that we're giving

them, neil. the air defense systems, both long range and short range, and all the ground anti-tank systems which has brought russia's ground assault in the north to a halt, and they're now relying on the air campaign. and that's why the air defense systems we have to get in there to thwart that air campaign as much as possible. we've got to look for sustaining ukrainians' effort here so they can actually win at what they're doing and drive the russians out. impose so much cost on the russians that another alternative is not seven bl. acceptable. despite the fact that president zelenskyy is seeking, certainly, some kind of offramp in discussions with putin, i doubt putin is going to entertain any of those negotiations at least in the near term. neil: as you know, general, our reluctance -- that is, as a country and speaking collectively about nato --

providing air support for ukraine would invite world war iii. but given the difficulty that putin has had, you know, in this war and the fact that he's had a devil of a time just taking ukraine, who's to say that he would automatically even be able to expand this war beyond ukraine? >> well, i think your point's well taken, and i know president zelenskyy mentioned that it's possible if negotiations don't succeed. but the reality is there's been so much cost already imposed on russia's military that it would be fanciful to think that they would be able to attack a nato country and withstand the response where they're going to be outgunned four and five to one and 15,000 fighters versus their 5,000 fighters while they're bogged down fighting the ukrainianings. i don't think that's realistic at all. the best way to prevent any

russian expansion is to do exactly what the ukrainians are doing right now, and that is impose a severe cost on russia's military, impose what the e.u. and the united states is doing in terms of economic costs and also a war crime -- a war criminal who's committing war crimes. that will have less impact on putin, but the economic and the military impact certainly will. and that's what will prevent any expansion by russia after termination of this conflict. if they were able to take ukraine very quickly, was what they thought with minimum amount of casualties, declare victory after a few days, certainly he would be incentivized to move again. maybe not immediately, but to move again likely on moldova and possibly on a baltic nation given the wind was at his back. but that's not where we are. he came into this believing the

west is weak and in decline much like president xi believes and that due to our political and social divisions, this was a good opportunity to try to take advantage of the west. the ukrainians made -- it backfired on him, and certainly the resolve that nato has shown and the unity that they have displayed and the e.u. and the united states willing to get tough sanctions on the table and, hopefully, there's more they can do, truly has made a difference here. and it's indisputable. the idea of an expansion into world war iii as a result of what has happened in ukraine doesn't seem likely at all. neil: yeah, you were saying that from the beginning, general. thank you very much. very good catching up with you, sir. general jack keane on these developments. lows for the dow, down about 354 points. oil prices are rocketing right now. by the way, in this environment no wonder a lot of people are looking at their gas bill when they fill up and saying there's

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neil: all right, gas goes up, no surprise. that interest in electric vehicles goes up, nothing like what general motors is announcing today, an aggressive push in that direction that could have gm all electric by the year 2035. its president indicating now's the time. we are with mark reuss, the president of general motors kind enough to join us now. very good to have you. >> thank you, neil. it's a pleasure, and thank you for having me today. it's a big, exciting day here. neil: it really is. you've moved it up by nine months, i guess to address this growing demand for electric vehicles to begin with, i'm sure, helped by the runup in gas prices. how much did that decide on moving this timetable forward? >> well, i'll tell you what, it wasn't -- we made this decision, you know, number one, we're doing things a lot faster as a company.

we're moving the ev production forward particularly on the lyric, which is about nine months, as you mentioned. but the real reason is the first time we showed the car, people fell in love with it. in fact, it's the highest clicking car that general motors has ever done in its history. we said, hey, we've got a winner here, we know we've got a winner, we're going to move it that faster, and we started pouring the heat to the facility in spring hill which, you know, we put $4.3 billion into the facility, $2 billion for the plant itself to make the car and then $2.3 billion on the cell site right around the corner here. so this is going to be our biggest plant in north america. so this vehicle is, you know, there's a lot of gland for it, so we're very -- demand for it, so we're vup very excited. neil: i know your goal is to have at least 30 vehicles by 2035, you want to be all electric. i was thinking of your dad who was in the position you're in a

few decades ago. do you think he could have ever envisioned gm going all electric in little more than a decade? >> it's a great question, you know? if i see my dad, he's getting up there, but i tell you, my dad is just, you know, he can really see it happening. he just can't believe it. so he was very, very much involvedded with the ev-1 when we did it back then, and, you know, it's beautiful to be able to see him realize and see what we're doing here. he was also involved with saturn, so he knows the plant i'm standing in very well, and i'm a very fortunate man to have him be able to see and understand what we're doing. thank you for asking. neil: well, you're placing very heavy bets on all of this, mr. reuss, and i'm just reminded when you bought softbank's stake in cruze's self-driving unit, i'm just wondering whether we're going to have competing battery options for those who get evs

that are incompatible with, you know, let's say, with what tesla are has, audi has, i mean, where is this going as far as where people go to charge a vehicle like the many offer offerings at gm? >> well, i think, you know, we're one of very few automakers that have done a dedicated platform and vertically integrated ourselves. we can do anything from a hummer to an equinox, everything in between and even lower roof vehicles after that. we're going to have all the price point, all the patrol -- profiles and offer those at very competitive price points. i think that you said again, ths our own proprietary cell chemistry and manufacturing capabilities. so you see going first into lordstown in plant one, this is plant two, and plant three will be up in lansing, michigan. we're putting those plants in a very good vicinity around our

assembly plant, and we can do our own chemistry very quickly at our tech center where we make ourselves, we validate them, we do back and forth very, very quickly so we're very agile. and we've got great partnerships like tfs which is moving -- fts which is moving toward ground breaking chemistry. i think it gives us a big advantage, and it's really quite good. neil: do you ever worry though -- the i know in the environment we're in, you know, gas prices are soaring, if they come off this, you know, post-ukraine war high, there are other factors involved beyond the ukraine war, i understand that, that the appetite for electric vehicles might wane a little bit, that whatever wind is at your back now might if sort of calm down and you're caught, you know, committing to an all-ev lineup when the demand might not match it? >> yeah, you know, i think we do enough research and look at the

industry here to know that, you know, demand has spiked for evs even before the war. which is a very important point. now, if the war and gas prices as an accelerant and maybe they coincide, but mt. long run here the -- in the long run here the appetite and the desirability of everything vs, you got a vehicle that looks as good as the cadillac lyric, it matters. so our styling inside and out and our commitment to cadillac and bringing it back to the standard of the world is important. and, you know, vehicles are -- cars and trucks are still an expression of who you are, what what you do in some cases, and, you know, your inner self. so they're very passionate purchases second only to a house still, and i think those things are very important. you look at that total picture, you look at what we're doing, we're not flipping a switch overnight either. so we'll continue making our internal combustion engines at the same time as we ramp up and change the company to electric

vehicles. we can be very agile in terms of the market as well. neil this is a dumb question, just curious, do you -- [audio difficulty] traditional a gas-power engines just? case? just in case? >> yeah, that's a great question. you know, we've done hybrid vehicles. you know, we've done lots of them, actually, from -- [audio difficulty] about three years ago we looked at this and we looked at the end game of greenhouse gas, 0, 0, 0, 0 congestion, 0 crashes and 0 congestion. we looked at that -- [audio difficulty] every last dollar into integrating our chemistry, cells and going all in on evs, and that's what we did. the hybrids, if you look at those, they haven't really sold

very well -- [audio difficulty] different models. the hybrid piece of this -- neil: yeah, you have pulled out as have other u.s. automakerrers from russia. do you ever envision going back maybe after the war's over, or is it on tin gent on vladimir putin -- contingent on vladimir putin no longer being in charge in russia? >> i can't speculate on the war itself. but, you know, i've been in this industry long enough, you know, you never say never on anything.

but, you know, i can't see us -- we're doing the right thing right now, and that's really all i know. i really can't speculate. neil: what about when it comes to china? operations and exposure there, i'm wondering if in china, you know, sort of caught up in this whole russian war situation or supports it, haas a far bigger market that -- that's a far bigger market that you might have to give up on. is that likely? how do you see that going? >> i wouldn't put any percentages on that either, neil. but i would say we've got a great business in china, and we've got strong brands so, you know, that's a good business for us. it remains a good business for us, and that's where we are today. neil: finally, i know you have a meeting later on today with the president, separately the president's meeting with oil industry executives suspicious about the runup if oil prices on whether they have anything to do with that. do you have any thoughts on

that, whether they are, whether they're getting unfairly maligned in all of in the? all of this? >> well, it's hard for me, again, i watch you and other media outlets around that conversation, and i listen to it, but i don't have any more insights to whether that is or isn't true. you know, i'm waiting like you are to see what happens here at the white house, so we'll see. neil: all right. finally, sir, and you've been very patient, you know, a lot of the popularity and appeal of, you know, electric vehicles themselves besides they're stunning to look at as well as your newest model here, they're run by utilities. in other words, you're paying for it not as much because, you know, electricity is still cheaper than fossil fuels. but, but natural gas which powers a lot of these facilities, that's been running up. in fact, at a far greater clip lately. are you worried that the cost you manage to get with an ev

could go away if that keeps happening? >> well, i think, i think, you know, there's a current and there's a past view of how electricity is being generated, and there's a future view if you look at some of the truly sustainable power sources that a lot of the power companies and municipalities are putting in. so, you know, you want them to move to that, obviously. but i'd also say you think about the number of electric vehicles that will be plugged into your home or business or wherever which is really plugged into the grid, and you're looking at the amount of storage that each one of these electric vehicles actually has and you look at the way power companies and consumers can trade that energy back and forth from a fully charged car back to the grid or the grid to a fully charged car or a fully charged car to your home in the case of our silverado, you can see that this energy, it's going to be traded. you know, one of the tough things for energy companies is the amount of capital spent on storage for the grid. and and so what these vehicles

give those power companies, and a lot of them are working very closely with us, is the ability to have storage and not spend the capital for some of the peaks and spikes that you see, you know, throughout the country in various different climates or weather conditions or seasonality. and so working very closely, people forget about that, but there will be a tremendous amount of storage in our vehicles, we'll be able to go back and forth, so i think that's a very positive thing. and if you look at the sustainable sources of electricity in the future, they're all converting these coal-fired plants, i think it's a great future, and it looks like a great, great way to really take care of our planet and save this for our kids. neil: you're well on your way there. mr. reuss, thank you very much. the president of general motors, thank you, sir. >> thank you, neil. neil: all right. so there must be manager to what he he says, gm is just the

latest, automakers say it's going to go all electric by 2035, could be sooner. volvo, of course, hopes to go all electric within the next three years, ford in between that. bmw hopes to do it by 2035-37, but they're all done -- all in on this. they are convinced this is the wave of the future, and there is no backing down. we'll have more after this. dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones

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i don't think they had camels in atlantis. really? today she's a teammate at truist, the bank that starts with care when you start with care, you get a different kind of bank. neil: all right, the ukrainian war drags on here, and it's gotten a lot more vicious. that's raising concerns as well about the nearly 3.5 million refugees who have left the country or are on the way out of the country and for future refugees who might have a devil of a time doing even that. let's go to ashley webster in poland with more. ashley. >> reporter: hey, neil. listen, hundreds of thousands of refugees have come right through this point, and if you walk with me -- tom, you follow me -- this

is a krakow train station about 1460 miles from the -- 160 miles from the border, and this is the first major stop where they can get some help and decide where they want to go next. the problem is many of these refugees want to stay right here. we spoke to city leaders earlier today who said, look, they may want to stay, but krakow is full, and there are no rooms to spare. take a listen. >> try to help them to have information about how they can relocate, how they can get to another city. we try to locate them to the smallest municipalities, but as we said, some don't want to go. >> reporter: so the question is why do they want to stay here? well, one, it's close to the ukrainian border relatively, so they feel they can go back as soon as they are able to. if two, it's a big enough city

where they may be able to get a job and, three, a lot of these e refugees came without the proper documents. they just packed up their belongings and left, and in some cases left their passport behind like aye arena who we spoke to earlier. >> i'm in krakow, these are my documents. i don't have passport, that's why i'm here. i actually received right now my documents, and i'm moving right now -- [inaudible] >> reporter: can you get work? >> yes, yes. well, i need documents to get the work here right now. >> reporter: what's interesting, neil, is the city of krakow has a 4.5 million u.s. dollar fund for emergencies like this. to date, just 25 days into the invasion of ukraine, they've spent 16 million, four times what they budgeted for. in other words, when president biden comes to poland later in this week, not only will there

be calls to help the ukraine, but certainly poland as well that's taken the brunt of the refugees, nearly 2 million and still rising. neil. neil: that's more than a brunt. thank you very much, my friend, ashley webster in poland on all of that. by the way, we talk about trying to get safely out of ukraine, it's proving very, very difficult. buses evacuating civilians were hit by shelling earlier today, reports of four children wounded. that's the kind of stuff that congressman michael mccaul is worried about, sits on the house foreign affairs committee, the texas republican kind enough to join us. this is what they're talking about, congressman, that the targets of civilians is real, it's clear. taking out a shopping mall, not taking out a center where soldiers are housed. so they know what they're doing, don't they? >> they do. they want to break the spirit of ukraine, break the will of the

people. this war isn't going as well as putin had hoped for. he was told 3-4 days, now we're at 20 plus, whatever. and it's shocking he would hit these refugees just trying to flee their country and they leave their husbands and fathers behind to fight the war. i just recently came back from the poland-ukraine border, saw them. poland has been very generous in terms of taking in these refugees. they do want to stay close to their homes. they hope they can go back at some point in time, but i hope when the president visits and meets with nato and the e.u., i think there should be a burden sharing of these refugees. neil: congressman, if, god forbid, the russians succeed, take over the capital and and all these cross-points, they could fight the good fight there, it's an occupying army, but you're likely to see swelling of those way beyond the numbers we're seeing now. with are these neighboring countries, is nato, are we in

washington prepared for that? >> god, i hope so. and we've had those discussions. i think the eastern nato countries should take in these refugees. that's the worst we've seen really since world war ii. and, you know, i think this war, you know, it's stalling around ukraine. they're making some -- russia's making some progress at mariupol. that's the key port city to control the black sea and also with odesa, they're starting an offensive there. i think most alarming though, neil, is the two hypersonics that were fired into western ukraine. tease are weapons that we have not yet advanced and the chinese have those as well. this is a bit of a warning shot to nato that they have that capability, and it's part of the strategy called escalate to deescalate. and i think you'll see more provocative things coming out of russia like, god forbid, chemical weapons or short range tactical nukes. neil: if they do use chemical

weapons, you're quite right to say the fact they've been using these hypersonic missiles is a whole new element in warfare, i'm just beginning to wonder what our response should be. does that warrant nato getting involved because this is a serious line that's been crossed? >> well, i think it's a discussion we need to be having now. and i've talked to the administration at very high will levels about this. we need to know what are the red lines. this, obviously, violates the geneva convention in a big way. we can't do a red line like we did in syria and not take it seriously, and i think nato needs to be onboard with what are the relines and what would be the appropriate response -- red lines. certainly, the nations that have been sitting on the sidelines on this confrontation would need to get more involved and, i would argue, the weapons coming in as well. whether we hit them in country, obviously, that would escalate this, and we want to avoid a world war iii situation. but we -- the red line would say to putin if you cross this line,

you're the one that's being provocative, not nato. neil: hopefully we don't come to that point, as you said. congressman, thank you very much. good seeing you. >> thank you, neil. you as well. neil: all right. we'll take a quick break here. the dow down about 300 points. a lot of this has to do with the backup in energy prices and the backup in rates in general. the fed chairman has indicated that he could be more aggressive and just might be in the future. nothing like a quarter point interest rate hike, he's open to a half point hike. didn't telegraph exactly when such a hike would come, but that he is open to doing just that if inflation proves stubborn. a lot of his critics say he's way behind the curve. this seems to be the first signal he has given that he could be much more so. more after this.

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neil: you know, they say timing is everything, but just as workers are returning to the office post-coi have, now they're facing very high gas prices and companies, some, are trying to do what they can to help them out. jeff flock has more from philadelphia. hey, jeff. >> reporter: neil, hello to you from a lyft express location. this is a place where lyft drivers come if they don't have their own vehicle to rent cars so they can drive for lyft, but look back there behind me, you see a lot of cars this. not a lot of takers. why is that? well, you guessed it, gas prices. worth looking at the numbers again because it looks like today may be as low as we go in the short term, we're at $4.25. andy lipow says he thinks we've hit a short-term bottom, and it's only up more from here. as you report, multiple companies tying to do -- trying to do something for the drivers when it comes to gas. walmart, tbrubhub, doordash as well as uber and lyft both try

to do a little bit to help drivers defray some of those high gasoline costs. if you look at the stocks today, everybody's down, i know, but uber and li. among them -- lyft among them perhaps taking the heaviest hit. uber, let's take them as an example. between 45-55 cents gas surcharge added to the bill, and that will go directly to the drivers. uber eats, a little bit less. the 100% of that to the drivers. a lot of them say not enough. by the way, they already incentivize ev truck drivers, they're getting a dollar extra a trip, and if you're an, v driver right now, maybe you -- ev driver right now, maybe you don't need any extra money. there are indications there are fewer people now driving for uber and lyft. take a look at this survey, they say more than half now have either stopped driving

altogether or have, are driving less. 38% driving less, about 15% have quit because they just can't afford it. they're not making any money, and what you see back there behind me is any indication, that's probably true. i don't know how you make that money. that was always my fallback job, neil, was drive for uber if this tv thing doesn't work out. i guess i'm going to have to think again. sir? neil: mine was fast food because i could always make up the difference in eating the food. but, jeff with, you never know. >> reporter: if i owned a fast food restaurant, i would not hire you, sir, no. you'd eat the profits. neil: that would be a bad move. jeff, thank you, my friend. jeff flock in philadelphia following those developments. well, a lot of customers are pivoting in this environment of higher prices, but it's how they pivot that shows a lot of create i.. madison alworth will have more on that after this.

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we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217 neil: well, it's been called the great consumer pivot in the face of higher prices going still higher. there's a lot of poem who are now, of course, no matter where they are on the spectrum making some switches in their buying patterns if they're buying at all. madison alworth in new york with more on that part of the story. madison.

>> reporter: hi, neil. if so, you know, when it comes to inflation, americans can't escape it for energy, housing and transportation. that's something that that they have to use or need, and inflation is right there front and center. so americans are looking to save in other ways. when it comes to shopping, some are saying no to those higher prices, just flat out not buying at all, and retailers, they are listening to that that because we're seeing so many do this. in fact, 42% of consumers said in february if prices raise more, they're going to delay less important purchases. stores like macy's, they're reacting to that news. so macy's tried to increase the price of certain budget mattresses and sofas by $100. consumers are unwilling to pay more for those items considered budget items, macy's having to react to that news. but they're not the only retailer seeing it. we're seeing it across the board. a home decor company had to increase all of their products by at least 15%, and they saw a

lot of customers leave as a result are. take a listen. >> -- the customers that a you're losing because the higher revenue that's directly tied to inflation the transstory. that doesn't stick. -- transstory.. -- transitory. from. >> reporter: so, you know, americans have less room in their budget to spend. according to the adobe digital economy index report, americans have spent $32 billion than they would have pre-pandemic. so that's why we're seeing consumers say they're unwilling to pay more for budget items, and they'd rather just go without unless if retailers make a big change. neil? neil: it does make sense. madison, thank you very much. madison alworth. this consumer revolt in the face of higher prices is something to watch because the higher they go, the less inclined they are at least to be paying those prices, and that could be a game changer for the economy. to jonathan hoenig and carol

roth on the significance of that. jonathan, what do you think? if consumers truly revolt and say, no no, we're not going to do that, it could have a cascading effect, right? >> well, neil, this is something really new. the average investor is 40 years old, so they haven't seen inflation even over 5%, now it's at 8%. so investor, consumers, they've never seen anything like this, prices rises like this, how to save, how to deal with commodity prices soaring. just to give people a sense, neil, in one year the two-year yield's gone from one-tenth of 1% to 2% already today. you see interest rates rising, and it's costing the average investor and the average american, neil, about $3500 a year. that's real money inflation we haven't seen in a decade. neil: normally the rule of thumb is inflation stops when people stop paying the inflated prices, carol. are we myrrh near that, or is i? or is it so baked in and so, you know, built in a the that easier

said hand done to sort of, you know, extract ourselves from it? >> yeah, i think we have some major structural supply-demand imbalances that are sort of baked in. that will keep inflation, unfortunately, higher even when you get a little bit of a consumer retreat. if you think about the labor force, 1.7 job openings for every 1 worker that's out there. the housing market, you know, we didn't build enough housing over the last decade coming off the great recession, so there's 4-5 million homes estimated in terms of short supply versus demand. then you have commodities that because of esg and other pushes there's been an underinvestment in all different kind of commodities and particularly as the world looks to decarbonize, you know, certain areas of thos, aluminum if -- i think, are going to continue to go through

the roof. so i think you have these supply-demand pressures layered on top of everything else that's happening that's going to make it harder for a consumer retreat to completely correct the situation. neil: and now jerome paul is talking about being more aggressive -- jerome powell is hinting at bigger than one-quarter hikes in rates. what did you make of that, jonathan? >> well, i mean, he's actually probably even behind the curve if you look at interest rates shooting up again today. and to carol's point, the government and biden could be doing something to solve this, you know? instead of blaming big oil, blaming businessmen, you could be stopping spending and stopping, you know, doing something with the regulation. they're contemplating price fixing and spending more, and that's only going to exacerbate the problem and inflation for all of us here on main street. neil: it sounds, carol, real quickly, like this inflation thing sticks around a while, a lot longer. >> yeah. i mean, i'm in the camp that we see something that looks like

stagflation where we get a little bit of a sputtering of the economy, maybe not a full recession, but that we do, you know, even as this russia-ukraine situation, we have these structural issues that, unfortunately, i think are going to take a very long time to work out. sorry to be the bearer of bad news, neil -- neil: no, no, i hear ya. it could be a while. that's at least the sentiment building up right now. the dow down 344 points. we'll have more after this.

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for rich returns. neil: all right, interest rates are backing up today. that is probably an understatement. 10-year note going close to 2.30%. we've seen multiyear highs in yields for example, the 30 year, the 2-year. they're concerned about inflation. probably an understatement and probably wondering what jerome powell does next. here is charles payne. charles: hopefully we can give them some insight, thank you, my friend. i'm charles payne. this is making money. breaking right now spring is here, folks. it came early for the stock market which staged a remarkable rebound last week. one that will go down in the record books. the question now, is that the bottom? our market pros will break down the market to decide and how you should be positioned. plus has a potential mutiny at the fed actually changed jay powell's mind? federal reserve chairman