let's turn now to cnn's economics commentator, catherine rampell. ahead of the president's meeting with the fed chair, biden came out with an up ed in the journal that said, among other things, the federal reserve has a primary responsibility to control inflation. my predecessor demeaned the fed and past president have sought to influence decisions and appropriately during periods of elevated inflation. i won't do this, end quote. let me ask you, what can biden do that he has not already done? >> i am delighted to see the president emphasize the political independence of the fed, first off. i want to praise him for that. very important to do. he's right that his predecessor did the opposite. there are limited tools that the president of the united states has available to deal with prices. the president doesn't control macro economic trends, doesn't control inflation, but there are some things he could do, things like liberalizing trade. right? trump imposed a ton of tariffs. you could -- they were condemned widely by democrats at the time. biden cou

joining us now, catherine rampell of "washington post" opinion columnist.eting your attempt to take over twitter? >> well, when elon musk is involved, there is always going to be drama, right? there has been a lot of -- there has been a rocky road up to this point. he was joining the board, he wasn't joining the board, he's taking over, now who knows. i think there could be a few things going on here. musk tweeted this is on hold pending the number of spam bots which he previously said he was concerned about. that could be true. it may be a cover story for other reasons to put the deal on hold or try to renegotiate it. remember, markets have fallen quite a bit recently including for tech stocks, including for twitter stock. and so that implies that investors already had been doubting whether this deal would go through in recent days before this announcement. and beyond that tesla stock is down, you know. musk has to finance at least part of this with his own wealth. he has left it now effectively now on paper and some of his investors do as well since he go

catherine rampell joins me with what got us here, and really its potential answers. is washington, d.c. willing to c consider those? there's coming up. allergies don't have to be scary. spraying flonase daily stops your body from overreacting to allergens all season long. psst! psst! flonase all good. ready to style in just one step? introducing new tresemme one step stylers. five professional benefits. one simple step. totally effortless. styling has never been easier. tresemme. do it with style. [♪] did you know many anti-fungal products are not intended for the nails? try kerasal. unlike others, it's formulated with clinically-proven ingredients that penetrate fungus-damaged nails to start improving nail appearance in just two days. try kerasal. nicorette knows, quitting smoking is freaking hard. you get advice like: just stop. go for a run. go for 10 runs! run a marathon. instead, start small. with nicorette. which can lead to something big. start stopping with nicorette. meet a future mom, a first-time mom and a seasoned pro. this mom's one step closer to their

to help explain what is behind all this, i'm joined by special correspondent catherine rampell. atherine. yesterday there was this big climb, 900 points. today it is down over 1000. what is happening? >> it is a lot of whiplash. this record growth since 2020 followed by a record decline since 2020. i think a sickly yesterday there was a bit of euphoria in the markets. fed chair jay powell indicated the fed might be a little less hawkish than some traders had expected him to be. he basically said for right now we are not considering a three quarters of a percentage point rate hike anytime soon. there was this buying spree because a lot of people thought the fed was going to start tightening even faster. today, people woke up, maybe with a bit of a hangover and looked at the productivity numbers at came out this morning that were not great. productivity went down in the first quarter. they said maybe we overreacted yesterday. you saw a big selloff and some panicking partly driven also by some earnings misses from some tech companies. judy: it was not there was anything new from the

cnn white house correspondent john harwood is here along with commentator catherine rampell. thank you for joining, good evening. john, let's start with you. biden framing the inflation crisis as a war at home, he's pinning some of the bad economic news on the war in ukraine. and he is slamming republicans for not helping. there's truth in both of those things, but is that the best message? >> don, the problem is there really isn't a good message when you got a systemic problem like inflation as significant as this one is right now. as dan pfeiffer, former top aide to president obama, told me, you can't talk voters out of a bad mood if they're feeling unhappy with the state of the economy, unhappy with their own personal circumstances. and you're going to have to take a bit of a hit. now, what the president is trying to do is mitigate that a little bit by referring to the impact of the ukraine war on things like energy prices. there is some impact there, but of course the inflation surge predated the war in ukraine. he can try to draw a contrast with republicans, which he inc

. >> let's bring in cnn economics and political commentator catherine rampell and mark stewart. let me get your quick reaction first. >> there's no question that the fed had to do something aggressive, i think for all of those reasons matt mentioned. i think it's important to keep in mind, victor, that this inflation equation isn't just about increased demand and a strained supply chain, not even the war in ukraine. there's a bigger issue that many economists feel, and that is labor. people are asking for more money, they are getting more money. companies have no choice but to comply with that. that costs more. in addition, the number of baby boomers who have been retired, particularly in 2020 when the pandemic hit, that number has rapidly accelerated. that leaves companies with a need for more workers. that too increased costs. so there are many different layers to this, but there are some significant cost con conundrums, specifically when we look at labor, in addition to everything else. >> we'll get into the great resignation, record number of people leaving their jobs in jus

. >> cnn economics and political commentator and "washington post" columnist catherine rampell is joiningg with us. we just heard jared bernstein of president biden's white house council of economic advisers say overturning roe will erase economic gains for women and immediately hurt women financially. can you walk us through how that happens? >> sure, well, what we're talking about is women losing control effectively over when, if, and under what circumstances they decide to have children, and as you can imagine, that affects their careers. that affects their financial prospects, their economic prospects. there's a slew of research to suggest that when women are denied access to abortion when they have an unplanned pregnancy, they are more likely to experience poverty, more likely to raise children in poverty, more likely to exit the work force. they're also much more likely to be on all sort os s of government benefits like medicaid, for example. it's understandable that this issue which is primarily thought of as a social policy or a culture war policy does have serious economic conseq

catherine rampell, alexis glick and richard quest, thank you. >>> ukraine is on the counterattack, hittingussian armored vehicles, leaving the kharkiv region. we are live on the ground there next. >>> and will the house pass the president's aid package for ukraine? sending them another $40 billion to fight russia? more on that ahead. so t today let's stain, with behr, the #1 rated stain. and make your deck, , yours. behr. exclusively at the home depop. >> tech: when you have auto glass damage, trust safelite. in one easy appointment... ♪ pop rock music ♪ >> tech: ...we can replace your windshield and recalibrate your advanced safety stem. >>> and will t house pass the >> tech: stay safe with >>safelite. schedule now.ks. >> singers: ♪ safelite repair, safelite replace. ♪ the mosquitoes are just all over the quiet please. okay. wow! [light bulb breaks] hey! i said get a pro. i did get a pro. an orkin pro. [mosquitoes buzzing] i got you. got mosquitoes? don't call any pro, call the orkin pro. orkin. the best in pests. after switching to the farmer's dog we noticed so many improvements in remi

catherine rampell, thank you very much. >> always. >> "new day" continues right now. >>> i'm john berman with chief white house correspondent kaitlan collins on this "new day." ukraine takes down a russian helicopter in the black sea. and a new russian warship is in flames. plus, is the biden administration's response to the baby formula shortage falling short? we'll be joined by a key white house official. >> and pence versus trump, the former vice president set to campaign for the current georgia governor while the former president is backing his opponent and, john, what is a really extraordinary pushback from pence on trump for first time we have seen really since they both left office. this morning we're also going inside the cockpit of a plane that a passenger with no flight experience was forced to land, when his pilot passed out. >>> good morning to our viewers here in the united states and all around the world. it is friday, the 13th, may 13th. i'm john berman, our chief white house correspondent kaitlan collins is in for brianna this morning. we have new details about a notable