on the desk, tim, brian kelly, steve grasso and pete najarian we start with that deep sea of red on wall street the s&p plunging nearly 3%, closing back opinwithin a perceo bear market territory. amazon down more than 5.5% all manl major indexes within a whisper of their lows. the two-year treasury yield surging above the 3% mark since only back in 2008. the reason for all this turmoil, inflation clocking in higher than expected in may the jump so jarring that not one, but two, i'm channelling my inner lebron james they're calling for a 75 point basis hike next week so with a more aggressive fed and continually volatile market, how should investors set up? tim, you just started. i'm going to go to you >> it's a somber day, but exciting day to have you on fast awesome to have you here >> this is not my first time >> first time in that chair. doing that thing it's awesome great to have you. and it's a day when, look, i know equities are front and center and we have some levels on the s&p certainly a closing level back to those lows didn't get to the intraday low of i think 3811, but i thin

. >> joining us now is brian kelly, a travel expert and founder of the points guy travel guide.quirements and restrictions ease, a lot of people are taking their first summer trip since the start of the pandemic. for those who might not have flown in a while, what do they need to know about airline travel today? >> yeah, it's a tough summer. you know, when you're traveling now, i highly recommend using flight aware. don't just track your flight. it will let you see where your inbound aircraft is from. and what so many people are experiencing is, it might be really nice and sunny at your airport, but where your plane is coming from, weather, air traffic, can cause a delay. as a consumer, you need to be ahead of the game. you can't wait for the airline to let you know that there's a delay. there are a lot of really great apps out there, so you can do it yourself. now that that testing requirement is gone for international travel, we're seeing a surge in european travel and airports that are normally really amazing like amsterdam and dublin are now crumbling under the pressure with

. >> brian kelly, what you think about this? >> yeah, i mean my base case here is that we are going to be grown through these periods of kind of peak inflation, recessionary hope, and that is what we are seeing in the market, but i don't think inflation goes away. i think we are in a long-term inflationary stat place trend, and that is very terrible for. you guys are just talk about 1970s. 1970s, the stock market did not bottom until 73, 74. we are a month from the peak here. we instilled out sometime. not only is about price and value, it is also about time. and i think that the probably most appropriate thing right now is to sit on your hands. because if you don't have a soft landing, we are certainly not getting economic acceleration. that was a third option, which means none of these things are priced. if you don't have a job and you don't have money, you are not buying hides and hunts, you are probably buying storebrand. no frills. >> and i asked bk question? bk, what you see. we see some commodities rolling over. with a lu

the committee would have been better off hiring our ep brian kelly instead of the nbc news exec who killedry. civil or not the show must go on because they had to show videos like this an angry mob storming a building and pelting projectiles with projectiles. a harrowing scene. wait a second, this video isn't from january 6th. it's from the may 2020 george floyd protest in washington, d.c. where far left activists assaulted law enforcement right outside the white house. but that's just more of the democrats' double standard of justice. attack your business and it's mostly peaceful. but attack their business and the entire country is forced to endure a show trial for a year and a half. because they believe they are better than you and they don't want you to forget it. this is a hit job just like the russia hoax, the democrats are already fundraising off the hearings and adam schiff is even trying to raise money off this show sending out an email criticizing "jesse watters primetime" for calling him a liar, which he is and asking for $100 in contributions. i just hope my mom didn't donate. t

joining us is the points guy and travel expert brian kelly.push to try to end the testing requirements for international travelers, any progress there? >> you know, we've heard secretary buttigieg mention that the cdc is going to be the one to decide. maybe this summer, but travelers in the industry, a lot of us are pushing to get these rules taken away because it's, frankly, just a broken system. you know, the whole system relies on foreign airline workers to check tests. right? there is no checking to make sure it's actually not forged and, of course, do mostically, we don't have them at all wearing masks. so it is a burden on those who travel internationally. especially when many countries handle it better than in the u.s. >> if people can get stuck. all of a sudden they have a one-week trip the your honor into a two-week trip, that's the problem. >> remember, many of these antigen tests they are allowing are not accurate. there are many false positives, people without sim tochlts even the system is broken where you can fly to canada, only

republican gubernatorial candidate brian kelly has been arrested by the fbi on charges related to januarye now for more on this. what do we know about these charges? >> we know that he's facing for missed a major charges including conduct, and willfully a injuring are attacking u.s. property. -- an fbi special agent lays out a series of images in which federal authorities say ryan kelly is pictured, identified by people who know him, and authorities say in these images and some of them you can see him gesturing for people to make its way towards the stairs that would lead into the capital. for his part, kelly that has admitted he's been in washington on the day of the events of january 6th, however he maintains that he was not inside the capitol. we have reached out for comment but we haven't heard back yet. >> kelly is not the only candidate who has been involved in some controversy in this particular race. there are five leading republican candidates for michigan governor who are disqualified, including the front runner james gray, that's after they churn did allegedly fraudulent signat

court schedules an initial appearance of january 6th case of michigan gop gubernatorial candidate brian kellyhis initial appearance is scheduled for thursday at 1:00 pm, exactly the same time that the january 6th hearing begins. [laughs] so, histories moving fast on the subject. >> and the question remains in michigan politics as to whether being arrested for his purported role in the crimes of january 6th is going to boost him boost his chances in that republican primary, since apparently participating in that particular crime is a badge of honor. i don't know -- it helps you, somehow? >> we will await republican voters judgment on that. i have to agree with you, rachel, about a point you made. about this whole question of, will the january 6th committee send criminal referrals to the justice department? the attorney general said, i am watching the hearings, i am watching every minute of them. if i don't watch them live i play them back later. and he said, at the same time, what he called the january 6th prosecutors are watching. every sentence has been referred to the justice department in

court schedules an initial appearance of january 6th case of michigan gop gubernatorial candidate brian kellyy at 1 pm, exactly the same time that the

brian kelly is charged with misdemeanors for his role in the january 6 u.s. capitol riot witness took this cellphone video agents at kelly's house early this morning. he faces 4 charges related to his alleged actions at the capitol, including disorderly conduct. kelly makes his first court appearance later today. the u.s. capitol attack will be on the minds of many today. the house committee charged with investigating the riot is set to hold its first public hearings. our washington correspondent, trevor shirley has a preview. the committee says tonight americans will see never before seen video footage. >> plus, with the committee says our mountains of new evidence about january 6th and its aftermath. public hearings on the attack have been held before. but tonight is the first to air live during primetime tv hours. these hearings will be a chance for the country to come together. >> to rally around the truth and unite around the rule of law. committee members say they plan to show new evidence about the deadly attack. >> and then focus on what they say were

we're following breaking news, brian kelly, republican candidate for governor in michigan is just wrapping up a short appearance in a grand rapids courtroom. he was arrested today charged for his alleged role in the riot. his campaign had this response on facebook. political prisoner. pete williams is covering this. what else do we know from the documents we've seen so far? >> charged with misdemeanor outside the capitol or going into the capitol, but not doing anything destructive. they say he was on the west front of the capitol, climbed up on some features of the building. tried to egg people on into going into the building. he's not accused of assaulting police officers or damaging anything and that's why it's a misdemeanor. but look at this picture here. see how he's wearing a black jacket, that arm is raised. that turned out to be an important evidence for the fbi because they found out he was in the crowd ten days after the riot, but it's taken all this time to figure out if that's really kelly. so the fbi says they scrutinized hundreds and hundreds of pictures and bits of video fro

there were over 2600 flights canceled more than the three previous years combined let's bring in brian kellye points guy website. looking at the last three years, two of those year there weren't that many flights, but this takes all of those plus the normal memorial day weekend from the year before. how much worse is this than what we've seen, let's say, over the last 10 or 20 years in. >> i wish i had good news. they're forecasting a pretty bad storm season and staffing shortages are the real root cause to all of this when an airline has to cancel flights, that flight can no longer get to where it needs to go in the good old days, there were reserved flight attendants, people are calling out with covid, the airlines are canceling flights preemptively >> did they just screw up? did they oversell? and they don't have the staffing, and they know it >> a lot of these airline, delta has recorded near-record revenues, so clearly the airlines are looking to recoup the losses they've had over the last two years if your flight is delayed or canceled, go to your credit card so many of them have trip

joining us now to talk more about how to prepare for the summer travel season is brian kelly. about points or how to fund a cheap flight, brian. i want to talk about whether you should feel confident when you book that flight and you are actually on that flight. i think that is the bigger question phil laid this out at the top. fantastic. if you know you want to go somewhere, that's great. if you get burned as people have been getting burned, that means you won't plan the next vacation it means as a business traveler, you will think long and hard if you get canceled or delayed, the trip becomes a nightmare it is something people will put off. when does this bite the airlines >> delta airlines has always been the best biggest run u.s. airline. they canceled 7% of flights. this is it hg evitting everyone. it is not like choosing one airline over the other try to leave on the first flight of day those go out on time more than others book nonstops. if you connect, you are just asking for trouble if you have to connect, build in at least two hours domestically. i'm saying four hour

counselor to president trump kellyanne conway along with former white house chief of staff brian reeve us. kelly this is real pain for real americans. this is a gimmick, obama was right, nancy pelosi was right, there's no real savings for people. now i'll take it. i'll take any tax cut for any period of time i can get it, i'll take my 20 bucks thank you very much. however it's not going to have an impact on people, is it? >> no, because biden is basically the grinch that stole your summer. everywhere you look, people are going to pay more for some summer relaxation vacation, sean t prices are up, certainly gas for your own car, but rental car prices are way up, lodging and hotels is way up. so any way you want to travel this summer with your family or with your friend, you're going to be thinking of joe biden. and this is why also i believe you've got this elitist pundits on other networks actually doing their 2022 version of deplorables and irredeemables. usually they wait until fall to call them there hill billy conservatives what's good for us, they always know what's good for us and what's b

kelly. >> steve: i can think of a couple of things. what do you do after you look at the falls? >> brianm kelly is the best thing in buffalo and the bills are getting a new stadium, i think so. >> steve: brian is back from virginia. >> brian: it's been a while. my friend got married in buffalo couldn't get married there because it's a home game. i remember thinking there is a lot of wax museums. i don't understand the point of wax museums. they are mannequins that look like people. >> ainsley: they are great when you are kids. >> brian: you can't do anything with them you just stare. >> ainsley: picture of them real michael jackson. >> steve: back in the day people wanted to get close to celebrities, you know, before they had -- so the closest you could do was madame tussauds' or something like that. >> ainsley: you were in virginia yesterday primary down there and the results are if there. >> steve: races in virginia, alabama and georgia taking shape now that a big batch of primary races and runoffs are in the books. griff jenkins is live with a look at the results right now from our na

kelly's piece. i would also note that brian deese did not say whether the president expressed a view to jerome powellof 50 basis points. is it too fast, too slow or just right. they wouldn't say whether biden raised that in the meeting. as for yellen, she addressed structural barriers like covid, that threw even more wrenches in the system that made inflation go higher than expected. we should note talking about this that the u.s. is not the only country seeing high inflation. it's being seen in similar levels around the world. the question is what will happen as the interest rates rise. and will it sort of engineer the sort of soft landing that people are talking about or trigger a recession. of course, if that's the case, joe biden will be under further political pressure and pointing to the fed right now. >> josh, so much on the president's play right now on guns. can you give an update? what's the latest from the white house on this issue? >> the only imp prom tu remark we got from the white house, jon, joe biden saying he will meet shortly. but we don't know there are signs it will fall short of

brian grossman. he put nearly $100 million into they are noens. elizabeth holmes, you might remember, was convicted in january. >>>. are kelly is heading to prison for 30 years. he was sentenced after a jury convicted him last year of federal racketeering and sex trafficking charges. kelly used his status as a celebrity along with a network of people to target his victims. kelly is expected to be transferred to a federal facility in chicago where he faces another trial late they are summer on child pornography charges. >>> okay, awe tree, the fourth of july holiday is quickly approaching, and millions are set to fly somewhere. the big question -- will they be able to? this is a live look at sfo. it's going to be extremely busy here this weekend, and some airlines are not properly staffed. in fact, one is looking to fill 800 jobs. nbc bay area's christie smith, she joins us live from sfo with a look at the problem and possible solutions. hi, christie. >> reporter: hi. well, many of the travelers that we spoke with today wondered if they might see cancellations or delays on any leg of their trip, and if history is any predicto

former white house chief of staff brian and also joining us author of here is the deal former counselor to the president, trump that is, kellyanne conway is with us. kellyf school three times, i paid every penny from college and i did get one loan from jamaica savings back over ten years, faith dollars $0.05 a month at a points where i was struggling to pay my rent every month. my parents didn't have the money to send me to school and i worked my way when i was going to school. not crying poverty, probably the best thing that ever happened to me in my life because it taught me a great work ethic. why would we give people a loan and they ever say never mind and then who ends up paying their loan? >> sean, your story is a very typical american dream story. i have a similar one. i paid off my college and law school debt great investment in education. what about the people that never go to college, why are the plumbers and carpeters paying for the lawyers and doctors loan debt? why is he doing it? he's paying off millennials those born between 1991 and 1996. his approval ratings are down, the young people don't think he's competent or coherent or cool. anot

republican chair kelly ward and her husband have been subpoenaed, part of an investigation of a reported scheme to send fake electors to congress to keep former president trump in office. briana closer look at testimony from top officials in trump's justice department. >> reporter: the dangerous moves of a desperate, defeated president. trying to get the department of justice to do his bidding. this week's hearings of the house select committee on january 6th focused partly on donald trump's efforts after the 2020 election and before the january 6th attack on the capitol to change the election results using that department as his lever. >> the president became more urgent and adamant that we weren't doing our job. >> reporter: part of a pattern that former trump administration officials and outside analysts say donald trump exhibited almost from the moment he stepped into the oval office. >> the behavior was very dangerous. the former president saw the department of justice as an institution that should help his presidency and the attorney general as someone who worked for him rather than who protected the law. >> welcome to the white house. >> reporter: early on, trump rele

kelly >>> meantime, in a major blow to federal government agency power, the supreme court ruling today that the epa does not have the authority to set standards on greenhouse gas emissions for power plants brian sullivan is on the news line with more including the fall y fallout for some energy stocks >> reporter: it is a blow not only to the epa but potentially other federal agencies, a 6-3 decision from the supreme court and it overturns the lower court's ruling effectively stripping the environmental protection agency of its authority to make sweeping rules related to emissions the initial challenge came out after the epa in 2015 made an order requiring coal plants to cut production or help subsidize other forms of energy. this was led by west virginia. lower courts held it chief justice john roberts writes, quote, this court doubts that congress intended to delegate decisions of economic and political significance, ie, how much coal-based generation there should be over the coming decades to any administrative agent is i, end quote. chief justice roberts continues that this view of the epa's authority was not only unprecedented but that it also affected a fundamental revision of the statu

kelly sentenced to 30 years in prison in a sex trafficking case. he was found guilty last year of using his stardom to subject young fans to systemic sexual abuse. the honorable brian jackson will be sworn in as a supreme court justice thursday at noon. she's making history as the first black woman on the high court. jackson is replacing justice stephen breyer who is retiring and the us will buy another one hundred and five million doses of pfizer's covid-19 vaccine in anticipation of a fall booster campaign. the three point two billion deal comes as federal scientists work to update vaccines to offer better protection from the rapidly evolving virus. i'm ashley strohmeyer to back to tucker carlson tonight for all of your headlines, log on to fox news .com. >> welcome back from brazil. before we left our beloved country to which we will return, we presided over an epic face off on finalwi exam. unfortunately never broadcast it because of breaking news. but we're bringing it tooki you nowng by popular demand. >> here it is time now fordi the addition of final exam this evening, an animal edition taking a break fromin people for a moment. final exam is the game where

kelly wright here. >> impressive. >> steve: captain, do you want i got a keg? i think it is tradition. >> the youngest soldier. brian fork. ♪ ♪ >> happy birthday, u.s. army and grand old flag. ♪ ♪ [applause] >> bill: stocks in the red for two days. investors running scared. american people are paying double. you know that because you're the one paying it. good morning, everybody, ifm owe bill hemmer. got a great show. hello. >> dana: i'm dana perino. this is "america's newsroom." great show begins now. inflation is weighing on the stock market. you saw that yesterday driving the s&p 500 into bear territory. three major indexes have