david asman is here to analyze this. first to lydia hu in new jersey.t have to wait in line. she's there for us. hi, lydia. >> hi, martha. delta has cancelled around 7% of their flights just taking off today that were supposed to take off today. another 8% are subject to delays across the country. it's not just the pilots for delta airlines that are now pointing the finger back at their own airlines. we see the union that represents 14,000 pilots calling for more federal government oversight on airline scheduling practices. watch here. >> as pilots, we're beyond exhausted. they're trying to get us to fly to the maximums that the faa has. the bad news is it means a flight cancels. when you schedule to it the max, you have failures. >> meanwhile, airlines are now blaming the federal aviation administration. a letter written by a trade group called airlines for america to transportation secretary pete buttigieg says staffing challenges have led to traffic restrictions under blue sky conditions. the faa facility in jacksonville, florida, has been understaff

so with that, we bring in david asman and lauren simonetti. the fed chair but i could have told you that, guys. 75 basis points. for people that think that is all mumbo jumbo. it means that everything that you want to invest is -- the price is going up. interest rates go up. questions about buying a car, a house. they want to cool it all down. they want you to stop buying things essentially. so that the economy won't go into recession. right, david? >> that's not the only way you can cure inflation. a recession is not the only way to cure inflation. you can create more goods. it's much healthier for everybody. it means people don't lose as many jobs as you do during a recession. it means you have more of an opportunity to buy things and it also means prices go down. the more stuff you have, the lower the prices are for the things you buy. instead of incentivizing companies to make more things and to higher more people, they're doing exactly the opposite. again, there's the fed, they're doing what they can with rates. i focus on the policies of

david asman with me now on the mezzanine with the breaking developments. first i want to go to peter doocy live at the white house where there might be more dodge ball on the lawn later. >> we'll see, harris. the white house is focusing on high prices mostly of gas. they are blaming big oil for not refining more and now some big oil executives are starting to push back. exxon has responded to the president's letter saying that they are not doing enough to write this. specific to refining capacity in the u.s. we've been investing through the downturn to increase refining capacity to have crude by 250,000 barrels a day. adding a new medium sized refinery. exxon not buying the spin and neither are voters. 47% in a new fox news poll are describing their personal financial situation as falling behind. 10% say they're getting ahead which seems if conflict with the president's claim this week that americans have more savings and carry less debt now than before he got to office. the president's approval rating is higher on russia, the border, and guns than it is o

i'm david asman in for mac donald. evening edit" starts right now. ♪ ♪ david: we bin with a look at your money. markets endinged to in the green. the dow finishing over 400 points higher to shake off early weakness. this as the white house is playing the blame game on a number of economic crises. president biden now says he was not aware of the severity of the baby formula shortage until april, but manufacturing executives sounded the alarm to retail theres two months earlier. americans continuing to feel the historic pain at the pump. the national average for gas prices hitting fresh new records today, $4.71 a gallon. while the administration faces increased pressure at home over fuel costs, biden is said to be considering a visit to saudi arabia with to beg them to increase production. edward lawrence is at the white house with more. edward. >> reporter: gas prices have been at a record or set a record every day since may 10th. president joe biden admits that he does not have an immediate pix to bring gas prices down

a record thanks to biden's upper border policy i am david asman in for elizabeth macdonald. the evening that it starts right now. first taking a look at your money kicking off june on a down note after started in the green the dow and the nasdaq ended in the red and very choppy trading this is national average gas prices reach a new all-time high today at $4.67 a gallon. americans struggling to handle soaring prices but experts say we need to prepare for ongoing pain at the pump analyst warning gas prices nationally could reach $5 a gallon in just two weeks. biden administration continuing to pass the buck on inflation new data showing the record high labor shortage adding to the price. edward lawrence at the white house with the very latest on this. >> 11.4 million jobs open in the u.s. and 5.5 million people unemployed that puts pressure to pay more to get those workers to fill the spot and possibly pass on the cost to everyone else for the treasury secretary janet yellen said inflation would ease at the end of last year now she's admitting she was wrong but blame it on su

david asman, i bet you didn't know that. david: i lived in philadelphia didn't know that. i'm david asman in for neil cavuto. market struggling back from bear market lows even though we had good economic news. we have a big show ahead for you. former chairman of the council of economic advisors, one of the smartest guys around, kevin hassett is talking about voters switching parties as inflation and gas prices soar. why the trend is a worry for democrats. former deputy assistant attorney general, tom dupree. former nfl player, jack brewer both playing in on reactions to the supreme court overturning roe v. wade. but first our top story this hour, democrats are hoping to capitalize on the supreme court's abortion ruling and use it to reshape the midterm elections. fox business correspondent hillary vaughn is live from capitol hill with the very latest. hi, hillary. reporter: david, democrats have not only been fund-raising off of this decision but they have also been using this as their main messaging headed into november trying to keep their base laser-focused on getting c

i'm david asman and for elizabeth macdonald, you've been watching "the evening edit" on foxbusiness, that does it for us. thank you for watching, have a wonderful evening. we will see you back here later. ♪♪ kennedy: russia and bring up rattling in response to our military support of ukraine. one hundred days now, it's become stalemate, both sides dug in for the long haul. the problem is the war is becoming costly for the rest of the world, oil prices are obviously up but so is the cost of food particularly wheat and an attempt to help turn the tide the white house this week announced we are going to send ukraine's systems that can kill russia troops from 50 miles away. they promised they will shoot them into russia and there are reports the white house will sell another potential game changer for drones which are capable of carrying powerful hellfire missiles. that in addition to the javelin antitank missiles, small arms, radar and battlefield intelligence. leaders of both parties in the u.s. republican and democrat have said our support is essential to helping ukraine. >> i think w

i'm david asman in for elizabeth macdonald, you're watching "the evening edit" on foxbusiness, thank you for tuning in. we will see you back here tomorrow. have a great evening. ♪♪ kennedy: the jury cash award goes to -- very exciting, johnny depp. congratulations. legendary actor today the big winner in his block buster defamation trial against ex-wife amber heard after six crazy weeks of testimony involving kate moss and severed finger, even then poop. a journey and commonwealth of virginia ordering amber heard to pay johnny depp $15 million for suggesting in an op-ed he sexually attacked her and ordering him to pay her $2 million. >> do you find mr. johnny depp has proven the elements of defamation? answer, yes. against amber heard, we the jury award damages in the amount of $10 million. against amber heard, we the jury before punitive damages in the amount of $5 million. if you find ms. heard has proven all elements of defamation? answer, no. against johnny depp, we the jury award damages in the amount of $2 million. kennedy: the jury give and take it away. damages punitive damag

let's bring in fox business anchor david asman. great to see you this morning.thy piece attacking just that, how policymakers in this country misjudged the inflation threat and this massive inflation caught washington by surprise. date by date how it was done in washington >> you talked to gene sperling yesterday. they don't have answers. they come out a year ago, we all remember those barbecues that were supposed to cost less than they did the year before to try to convince americans there was no inflation. we all found out that just wasn't true. and it wasn't passing the muster even with the "washington post". the "washington post", the editorials have become much more critical of joe biden. you compare them today with the way they were a year ago. there is a fundamental shift in the editorial pages of a lot of liberal newspapers like the "washington post" but leading with the "washington post" because again they focus on the problems that are facing americans and they find out that the white house is not focusing. they deflect. whose fault is it, the inflatio

david asman is here to talk about all of it. fox business anchor, it's a jump ball., russia, russia. jay powell asks like, "i don't know how we got this inflation!" >> dagen: i put today these monthly editions. between the time he took office in the time russia invaded ukraine there was a 435% increase from 1.7% up to 75%. from the time russia invaded until now a 9% increase in inflation. i think it's a bigger number. he left to correct me on the math but i think it is. the other thing that he got strangely wrong today, he said that he could lower the price of gas at the pump by a dollar by getting rid of the gas tax, the federal tax, and if states followed his lead getting rid of that. the national gas tax is $0.18.4. that's less than a dollar. and states vary, but average is around $0.20. that brings us up to $0.38.4. that is still a lot less than a dollar so don't know where he gets the math for all of this. see when speaking of i don't know he gets his math, he also said this about the state of the economy. >> the u.s. economy is in pretty strong shape. when he l

. >> martha: david asman and connell mcshane. ere any real discussion about changing the deck chairs here? david, you said larry summers is someone that they might want to bring in. they would have to swallow a lot of pride to do that. >> pride and a bitter pill. he's the antithesis of the progressive economists that have been telling biden that inflation would go away and the second best way is to spend trillions more. all of this advice that larry summers says is the wrong advice. if larry summers was chosen and there's rumors that janet yellen won't make it past the mid-terms because in the democrats get squashed, they're going to look for someone to blame. a larry summers might be a bridge too far. if you want to ensure investors as well as the american people, you may want to choose something like larry somers that said spending money won't cure inflation. he's been warning that inflation is not transitory. >> might be too late. the key phrase that i thought from larry summers in the clip we played, given where we've gotten t

david asman and charlie gasparino join me now. great to have you with us today. this is the phrase, the catch phrase of the moment. recession is not inevitable. what i wonder is, what are people supposed to do? what does that mean? oh, don't worry, honey. it's not inevitable. >> nothing is inevitable. probably will happen. what is interesting about that conversation is how little back up he had for recession is not inevitable. what data point did he give us to believe that we're not going to have a recession? there's no data points right now. all the data points with the fed raising interest rates, higher unemployment, consumers starting to back it of spending. all of the real data points point to a recession. i don't know what the the hell he's talking about. >> and charlie has been writing a lot about janet yellen. she was on the sunday talk shows and made a statement that wasn't true. i don't mean to call her a liar, but i think we have the sound bite of that. >> let's watch that. >> most consumers, lower income households, continue to have buffer stocks of sa

david asman, i bet you didn't know that. david: i lived in philadelphia didn't know that.hough we had good economic news. we have a big show ahead for you. former chairman of the council of economic advisors, one of the smartest guys around, kevin hassett is talking about voters switching parties as inflation and gas prices soar. why the trend is

. >> dana: let's bring in david asman anchor for fox business network.t of wishful thinking on inflation is going up, too, first not real, transitory and now the fed will cure it with a few rate hikes. do you think it's possible? >> you are asking me from jerry's mouth to mine? i would say no. and the expectations have less to do than the reality. you can finish the sentence. inflation is too much money chasing too few goods. we aren't producing enough. that simple. that's why we have stagflation. not just inflation it's a slowdown in the economy. we had a deficit, a decree of 1.5% in the first quarter. if we have another one it's a recession. we're close. a lot of people think we're actually in it. the answer to both stagnation and inflation is the same, produce more goods. they are taking care of the money part and hopefully the fed takes care of that but we have to take care of the second equation in inflation. we have to produce more goods. instead biden is beating up on the producers and oil producers, meat producers, he is beating up on the produce