>> thank you so much. that wraps up the hour for me. i'm jose diaz-balart. you can always reach me on twitter and instagram. thank you so much for the privilege of your time. yasmin vossoughian picks up with more news next. hi, everybody. good thursday morning. a lot going on, the inflation report showing just how high prices have gone. inflation up 7.5%. the last time inflation spiked that much, ronald reagan was entering his second year and

dallas was the number one drama. and watch this. >> this inflation challenge is real. we need to address it. we need to provide people relief and we need congress to work on that right now. >> so here's what we're going to do. we're going to dig in to where we saw the sharpest price increases and whether we could be in store for the most expensive super bowl sunday ever. plus, another investigation involving former president trump. the house oversight committee just announced it will probe his handling of presidential records. it is stemming from the 15 boxes retrieved from mar-a-lago by the national archives. that agency now asking the justice department to look into the matter as well. >> and then a critical development near the ukrainian border. we'll go live to ukraine ahead. we want to start with new inflation number.

good morning, guys. welcome to you all. thanks for joining us on this. tom, we're talking 1982 the last time we saw these numbers. the place we're seeing the price increases the most are food, electricity and housing, basic needs for every american. walk us through what more you saw in this report. >> well, you mentioned you were a baby. i was graduating from high school in 1982 and i do actually remember inflation was the dominant theme in 1982. yeah, i just dated myself but that's the kind of inflation picture we're looking at here. highest inflation in 40 years, up 7.5% year over year, stunning. up 0.6% month to month. those are very big numbers. let me break it down for you are where we're seeing the biggest inflation. pardon the glasses. i graduated from high school 40

years ago. electricity up 40%. new homes up 20%. that was stunning. food costs increased almost 1% just in january from december. airfares up 2.5%, new consider prices up 12.2%. used car prices 41% from a year ago. that's because there aren't any new cars so used cars are soaring, up 41%. the university of pennsylvania, the school of business there estimated that for a family, we're now spending $3,500 more per household than two years ago for the identical basket of goods and services. there's a lot of reasons for this. this is not 1982. we're dealing with a completely different economic picture. it's been the pandemic and short shortage of goods and foods.

all of that is percolating. but the bottom line for you and me is we are likely to see interest rates moving higher. most experts expect we'll see a half-point interest rate hike next month. at that will be one of five rate hikes to come this year is the conventional thinking right now. why? they've got to slow down this economy, slow down the inflation and that's the best mechanism they have to do that, essentially make everything a bit more expensive in terms of borrowing, hopefully the economy slows down. back from my cnbc days, we used to talk about not too hot, not too cold, that goldie locks economy, and that's what they're looking for right now and it is very hot right now. >> tom, thanks for talking to us on that. lynnette, how quickly will americans being seeing the results in their pocket books? >> that's tough to say because

what we're using is kind of a blunt instrument to deal with a very complicated problem. rate hikes are pretty much the best we can do, trying to sop up some of the excess liquidity in this economy, but that's not necessarily the source of this inflation. we need supply chains to straighten up. we need people to go back to work so there isn't as much of a labor shortage. so while we are broaching some of that problem with the federal reserve, it isn't necessarily the whole picture. so we don't know exactly how successful one, two, three rate hikes is going to be. it's going to be like driving in the snow. you kind of pump the brake as you go. and historically when we've been in situations after war world war i, after world war ii, the

fed has hiked rates. but the danger is you could hike rates too fast. but what's definitely going to happen is we're going to change the economy to what it was during the post-crisis period. we're looking at a new economic paradigm. >> jeff, understandably last week they were kind of walking a victory lap when it came to the incredible inflation. brian jansing spoke to the director reacting to this report. here's what he had to say. >> we have historically strong economic growth, overall the strongest in 40 years and we have the strongest job growth

and labor market outcomes ever recorded. one good piece of news is we see in january that real wages, after adjusting for inflation, were up. >> so he pivoted, right? he danced around what was actually happening when it comes to the inflation right. we all well know the economy is doing well. that's accurate. but wage increases are not on par with the inflation rate. americans cannot keep up with these prices. so what's the plan here with the white house? how do they spin this going forward? how do they deal? >> well, look, brian may not have answered the question directly but president biden at least so far is. he said his two main economic priorities were growing the economy in a way that produces good paying jobs and lowering prices that people face of day. he said as the white house has

been trying to use every tool at its disposal, he said today is a reminder that americans' budgets are being stressed in ways that produce real stress. white house says they've been trying to do everything they can. they've tried to address the supply chain issue, they've tried to address specific issues across the economy, for instance, trying to bring down the cost of prescription drug, promote competition in the marketplace so people have more choices as a way of bringing down prices but the inflationary issue seem to be so far retractable. think back what president biden was saying back this past july, saying inflation is temporary. he's had a walk away from statements like that because here we are in february and it's still an issue. jen psaki yesterday was pointing to outside observers who said, hey look, by the summer we expect inflation to moderate, to

decrease. but the other issue is the white house from a purely political angle that the window is closing. they have this -- it doesn't matter over the past 13 months in biden's time in office, the economy has grown more in just that specific time fraum than it has for his predecessors over the last 50 years but that doesn't resonate as much if people feel that their salaries aren't keeping pace with just what every day goods cost. >> you make such a good point. when you go to the grocery store, you need to buy a new car, you're paying, 5, 10% over sticker price. that is what resonates, especially in this country if

you're living paycheck to paycheck. let's talk about the time frame, the window here because cnbc is reporting march is when this inflation peaks out. are we on track at this point for that to happen? >> well, that depends on the pandemic. i think biden was more optimistic about inflation this year because we were more optimistic about when -- omicron made less of a dent in our economy than delta did. it seems like that is a sign that the pandemic is abating and the pandemic is still running this economy. so we have to understand that this is all dependent on supply chains clearing up, on not just us. this is about the world. we need china to make sure that their ports are busy and staffed, which is tough because they have this covid policy

where they will shut down an entire city for just a few hundred cases, which sound crazy to us but is affecting the every day goods that we buy. so this is not just about biden, this is about the entire world, but it just so happens that americans got a lot of pandemic need compared to others in the world. so we have cash in our pocket, comparatively, but that means there's money floating around and people are feeling like they can't spend it the way that they used to. it's going to be a very frustrating time for biden but it's the pandemic. >> just looking ahead to super bowl sunday. alcohol 3%, soda, 4%. if you're looking to buy a new tv for this sunday, up 2%.

it would be a last-minute purchase because you got to get the cable guy. that's beside the point. yesterday they met with ceos trying to push build back better. and joe manchin has been the nail in the coffin when it comes to build back better. here's what he said when it came to inflation numbers. as inflation in our $30 trillion in national debt continue an historic climb only in washington, d.c. do people seem to think that spending trillions more of taxpayer money will clear our problems, let alone inflation. and especially with these numbers seeing anything through. it's key to democrat uk legislation when it comes to the mid terms. >> yeah, it even calculates the calculus for president biden even more because he has pointed to his build back better package as one of the things that he thinks would help bring down inflation, that there are

investments in that plan that would drive productivity, that would drive growth and over time would see prices decline. but you have lawmakers, and it's not just joe manchin, who say that the covid relief deal pumped too much money into this economy and that build back better would be even worse in that regard. so, yeah, manchin, twice and this appears to be a third time he's doing this. >> ap he's going o keep doing it. great to see you boat on this thursday morning. coming up, everybody, a new investigation involving the former president, this time from the house oversight committee. why it's looking into 15 boxes of trump white house records the national archives got back from mar-a-lago. but first right now russia and belarus are holding jount military drills, russia's top commander is overseeing them. it is the latest escalation in the massive military buildup at

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is. welcome back, everybody. this morning a new show of force has heightened tensions with ukraine. this video showing russian troops conducting new military drills with belarus, ukraine's neighbor to the north. those are set to have tens of thousands of truth and war ships off ukraine's southern coast, all of this as we learn details how the biden administration would evacuate americans in ukraine if in fact the u.s. invades. it's great to see you both. richard, it looks as if at this

point putin is saying i'm going to invade or he's certainly launching an intimidate campaign to get what he wants. so where are we this morning? >> let's start with the intimidation campaign. because that's happening right now. that is under way and we've already seen a russian military build up, much of it along the russian border with ukraine in the east where the ukrainian army is largely dug in, where there's a pocket held by pro-russian separatists. now we're seeing a more expanded military presence to the north and south where they focus in it can on belarus. the military exercises entered phase two, involving about 30,000 troops. phase one from 1 to 10 february was the buildup phase where we saw a lot of troops ariefzing,

which is the combat readiness, which is supposed to last for the next ten days. here in the south we're seeing the start of troops amassing with naufl exercises with warships in the black sea and some complaining they're being penned in with the russian force to the east, a very hot drill to the north and which they say will cut off their access and ability to train in the black sea. >> and then there's the white house's plan to evacuate americans if they invade. we've seen this story before. it's the unpredictability of the taliban versus now the unpredictable of moscow. what reporting are we seeing and hearing when it comes to their plans to get americans out. >> there's two plans here.

one is the unit that would likely be involved. that's the 82nd out of fort bragg. they've put them into western europe. the assumption is is when they move -- if there is a need, the united states government decide there needs to be some sort of a noncombat you the 82nd airborne would be used and they would most likely take the americans through poland. that's where the similarities break april part between here and ukraine and what we saw than ukraine. there are still commercial flights coming and going. americans can leave that country now if they want according to

some motor vehicle, russia has plans to potentially nfl all of that eastern flank that richard was just talking about. so much of the -- and all the way north toward russia and beal ruse, that would be encircling kyiv, the capitol city. americans who are still stuck there in the country would able to move west to poland and the 82nd airborne, should they be needed, would be brought in to help with things like checkpoints, medical checks, have places to stay. it probably would be but they would there to support the flow of any americans who would have lo. again, american can leave that country if they need to right now. there a no but they are

certainly preparing and planneding for that eventuality. >> for now, richard pgel. court and learn more. more subpoenas for the committee. the committee says he has not been shy in husband role to overturn the 2020 election. and the 15 boxes retrieved from mar-a-lago have caught the attention of the house oversight committee. it is now launching an investigation. and the national archives is now asking the d.o.j. to examine whether the former president's handling of documents violated federal law. more on that coming up. federal law. more on that coming up ♪♪

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white house documents this morning, a new story on that front as well. and a forthcoming book, maggie haberman writes that white house staff periodically found papers had clogged a toilet in the white house residence, leave them to believe that president trump had ripped up papers. axios calls the story untrue. we do know the d.o.j. has been asked to look into the handling of trump's record. pete, i want to start with you on this one. just talk us through exactly what has the justice department been asked to do here? >> yeah, well, i wish i could. i don't think we know exactly what's happening here because justice and archives really

aren't saying. but the best indication we get from the officials we've talked to is this, that archives did raise this concern about how documents were taken away from the white house instead of going to archives. also a concern about whether there were classified materials in some of those documents and asked the justice department what to do. the justice department suggested that archives' own inspector general look into it and then apparently the matter was tossed back to justice. i think it's probably an over stamt to say there's an investigation going on. there are lots of considerations here. number one, in terms of the former president himself, officials consider it pretty unlikely he was personally packing the boxes from the white house to go to mar-a-lago. secondly, it does happen at the end of administrations that sometimes classified information is improperly handled. that seldom leads to prosecutions, unless there's a sign that something was intentionally done to try to

conceal something or intentionally done knowing this. having said all that, yes, there's some looking into this. where it will go, who knows. >> we have that going on along with what's happening with the january 6th committee and the subpoenaing of peter navarro who was on our air a month or so ago with ari melber. let's play a little bit of that for folks. >> we had over a hundred congressmen and senators on capitol hill ready to implement the sweep. we were going to challenge the results of the election and basically these were the places railroad were sent back to those battleground states and looked at again that there would be enough concern amongst

legislatures that most or all of those states with decertify the election, it would throw the election to the house of representatives. >> as many of us were watching this interview back then, a lot of us were shaking our heads, we were led to believe as of what. the what are they looking to learn from navarro here in this testimony? >> yeah, yasmin. just like you said, they are looking to learn what evidence they had who else he was working with and what the form are president knew p knew, which is perhaps the most important question of the january but his meeting with ari melber and the fact he wro about this stuff in a book leads the committee to say you have said this publicly already so come to at that to us

he's willing to talk, willing to spill the beans and come promote this, so just come do it to the select committee well. but it's said now he's now claiming executive privilege so it seems unlikely he would come before the committee. what the committee detailed in the subpoena is that they've already spoken to 500 people. we don't know who all these people are, but the fact that they've interviewed 500 people means that they are very far along on their investigation and this is more than six dozen subpoenas that they've sent out. so even these people who aren't cooperating with subpoenas, they are getting information elsewhere. >> just quickly here, when are we expected to start to see public testimony during this january 6th committee? >> p. >> reporter: great question. weep are told the spring. when we are told that those hearings start that it's going to be many hearings over many weeks. they don't have a date yet but april is probably a good guess.

>> leann, pete, thank you both. appreciate it. for all. you parents with young children watching, you're going to want to turn up the volume here. we could be weeks away from the first covid vaccine doses for kids under 5 and shipping out as well, what we know about how the cdc is planning a rollout. plus, have you been confused with changing pandemic guidance? a new poll says 60% of americans are feeling confused. what you need to know as more states unmask and relax their rules. we'll be right back. d relax the rus.le we'll be right back. [limu emu squawks] woo! new personal record, limu! only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪ to be a thriver with metastatic breast cancer means asking for what we want. and need. and we need more time. so, we want kisqali. women are living longer than ever before with kisqali

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vaccine for kids under 5 years old. the cdc is signaling they could see their first shipments by february 21st. with me it talk about this, dr. ebony helton at the university of virginia and msnbc medical contributor. i think the overarching question is how important is it for children under the age of 5 to get vaccinated right now? >> i think we're seeing the urgency in that in that the cdc and leaders are trying to ready ourselves for as soon as we've had clearance for this vaccine. in the last four weeks we've had 1.9 million children diagnosed. and when we're asking persons and we hear people say, well, let's lift these mask manned

mandates, we've lost a thousand kids to covid and one is simply too many. >> pfizer is saying this is going to be a three--shot regiment, however we are submitting for a two-shot regimen. what should and what will the fda do? at this point the study who are that are not in. >> right. up know, it's one of those things just like we said with our doses, we knew we were going to have to have additional doses. i think we get in trouble with wh we make a definitive line. we know we need protection for our children, that 2,900 kids are hospitalized with covid right now. how do we get ahead?

so and that's what they have to consider when looking at the safety and efficacy of vaccinations for those kids. >> our regimen changed as well. we thought we were getting two shots and we obviously had to get the booster. can pee that's been the imagine major headline. 60% of americans according to this pew research poll are confused about the guidance when it comes to the pandemic. you have the cdc saying keep your masks on but state governors are saying you can take them off. so what are folks to do? and how can you blame them at this point when you have different guidance? >> right. it's incredibly disturbing when we have politicians making

decisions that are public health measures. we have not instruct rally and that our children are getting infected. again, there eaves more consequences to covid. we know that and what does that mean? we're seeing they have cognitive developments that are delayed. they have learning disability. we see children are complaining of chronic pain issues and are literally being diagnosed with diabetes at higher rates if they had covid versus not. why expose that children when we can protect them further. at in point, and we base it on the mental health of our children. we've had already seven school shooting this year. we have more things to consider

like taching pandemic and keeping them safe is one of those things we have to prioritize with when it ends up being your child. >> owe there's a sense that come early march they may be relaxing guidelines in schools, where is at this point kids still have to wear masks, my kids included. should kids keep their masks on at that point? are you worried about that? >> i'm very worried. my question is are we censuring the most vulnerable of our children as well. every day 43 kids are diagnosed with cancer. the question is which one of those children that you see in the first, second, third grade are going to be one of those that we have to now being considered as. >> so adults have to make adults

decisions in order to pro teb they is a principal. i know it very difficult to maf gate how to explain to chin why himself and if it prevented them from developing i have to tell you at this point my children are reminding me to put my mask on, they've become so a customed every wearing that mask every day. we have tye-die masks and we have them all. congress and billions in relief funds. texas alobe got more so we're asking where did it all go in. >> we've had several in our

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billions in federal dollars allocated to make school safe. but now in texas there's new questions emerging about how the money is being spent, how it's being used. the state got $2.4 billion in funds alone. we spoke to a teacher who left her dream job because she says she was unprotected. heidi, this is an incredible story. you actually took a closer look at a school district in mccallum, texas specifically. what else did you learn there? >> p. >> reporter: this has really been an historic i fusion of federal dollars to local systems but congress didn't attach many strings to, many conditions. now that we're getting a closer look under the hood, not everybody agrees that some districts prioritized the health and safety of staff. she quit her dream job as a fifth grade teacher. >> i had noticed earlier this year i was getting a lot more

migraines than what i'm used to. this year had just been so many more. >> reporter: already feeling overworked and underpaid, she contracted covid for a second time five days in, sick and without a negative test she said she was pressured by the school district to go back to work and that was too much. >> i started to get a reaction on my skin, hives, stress hives. that's when i told myself, okay, my body is telling me slow down, take a breather. >> reporter: she was given $50 million from congress to help teachers and kids return safely to the classroom amid the pandemic, but the teachers union said it's among a number of texas districts where billions in taxpayer funds still didn't get teachers the basics. >> we heard from a special education teacher who spent $100 of her own money on n95s to keep her safe at work. our members are not asking for the world to turn in a deliver

jeks and be age to take leave when they're sick. >> the 37 million was tagged for student learning and student needs. about 12 million for a mariachi center and 4 million to expand a nature park. they say they care deeply about the health of staff and students. that all campuses have ppe and they've received no reports of ppe shortages. after the cdc recommended k-95, they ordered more than 6,000 and all schools now have them. they say all funds have been spent or ear marked appropriately with a focus on students and staff. they bab gan discussing covid leave for teachers.

two years into the pandemic, there's little transparency around school district's covid relief spending while a staffing crisis continues to take its toll. >> while i was saying goodbye to a few of my colleagues, they hugged me and said nancy, i'm so happy for you. i wish i could leave. >> all of this highlights an emerging issue, which is how billions in taxpayer dollars will be spent. little than half have a process. that's according to one expert who's really examining this. what we're talking about is the first two rounds of spending. there's still billions more on the table. >> thank you for bringing that to us. so, right now we're more than two months into the mlb lockout. even as pitchers and catchers are supposed to report to training camp.

as nbc sports reports the league and the locked out players have agreed to resume negotiations saturday after an 11-day break. we're going to stay on top of the story and bring you any developments. are first, the president is in virginia and next hour, he'll put a big focus on affordable drug prices. we're on the ground in virginia next. drug prices. we're on the groiund in virgini next

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welcome back.

so, this afternoon the president will host the democratic members at the white house. they're going to talk about the seat soon to be vacated by retiring supreme court justice stephen breyer. specifically his review process for any potential nominee. the judicial committee will hold the hearing for the nominee. and the white house says he's going to take their advice very seriously. biden has promised to nominate a black woman. but first, in just over half an hour, the president will speak at an event in virginia. he's going to talk about what the white house says is, quote, the unacceptable cost of prescription drugs. it includes several proposals with the bill stalled in the senate. the president talking up those plans on the road and helping him make the case, one of the most vulnerable house democrats running for re-election.

and in colepepper, virginia. lowering drug costs has proven tricky to get passed into law. so, how, how is the president going to push his issue ahead, especially in the midterms? >> reporter: the president would like to do things like allowing medicare to negotiate certain drug prices with the drug companies, imposing penalties but his plan to do that. take a look at the signage behind me. says build-back better. according to all of our sources on the hill is dead and going nowhere fast. and it really speaks to the challenge that democrats in these midterms are facing because they're essentially trying to run on priorities that, for are the most part, they haven't been able to fill. because of the challenges we've seen in this piece of legislation that has so many core priorities, from climate

change, prescription drugs, free community college and social services wrapped into it. so, congresswoman spamberger has made the decision to be with president biden. she's one of the most vulnerable democrats and she's put the prescription drug issue front and center in her campaign. president biden will talk about the need do this. the fact this is such a massive problem. but there isn't really a way to articulate at this point in time how they're going to move forward. particularly as we heard from joe manchin, casting doubt whether they're going to be able to pass anything, given the inflation concerns by the historically high inflation numbers. and as far as how republicans are handling the visit by the president, we heard from the national republican congressional committee, the part of the republican party that campaigns for republicans in house seats, they are already

using this visit to try to tie her to president biden at a time his approve ratings arevy low. saying the visit will make it impossible to run away from biden when it comes to historic inflation, his policies on abortion. but she says she is welcoming him here but focusing on the fact she will press him during the visit for more details about his plan. you see the really delicate dance democrats are trying to do as they figure out how closely to embrace or sit themselveser to the president. >> good to see you. that does it for me everybody, this busy hour. you can catch me weekends from 3:00 to 5:00 p.m. eastern. "andrea mitchell reports" starts right now. ♪ good day, everyone.

this is andrea mitchell reports in washington where another crippling inflation report, the worst in four decades, is highlighting the economic pain consumers are feeling every day. it's also a political dagger for a white house trying to keep the focus on strong job growth. the president in virginia will be discussing health care and prescription drug costs at an event just this hour. many return to the white house to host a meeting with the vice president and democrats on the senate judiciary commit tee discuss supreme court vacancies. and vladimir putin launching massive military exercises in belarus and at sea. and the latest diplomatic effort crashing in a contentious argument between the british foreign secretary and lavrov in moscow. i'll talk to secretary blinken's top deputy, and the house oversight committee is launching a new investigation into former president trump's handling of wh