maria: so edward lawrence, jump in here. covered the fed and have spoken with several fed governors over the last few months, what do you think it takes to get the fed involved here? what kind of an inflation number will be hot enough to get them talking about inflation and changing their language which, of course, would be another negative trigger for the market? >> and also transitory talk. the federal reserve also believes at transitory inflation where it will come back down on its own but not at end of the year and possibly first quarter of next year but now my question is, actually, out of this with the spike in gas prices that we have seen recently, we neglect gas prices go up very easily quickly and they have trouble coming back down to that level. does that mean this transitory nature of inflation, does it kick off and push it down the road, second quarter and what level does the federal reserve get uncomfortable and start raising rates. the federal reserve is looking for 2.4% inflation, let's throw the question out

i'm edward lawrence in for elizabeth macdonald. "the evening edit" starts right now. ♪ ♪ed president biden saying neither president putin, nor the russian government were involved in the colonial pipeline hack but admits the people who did it were in russia. also thatin pipeline is fully operational, full capacity, but pain at the pump expected to get worse before it gets better. it takes days for the gas to travel through that pipeline. as the white house finally acknowledging a gas shortage after energy secretary jennifer granholm called it a, quote, supply crunch. missouri congressman jason smith is on the powerful ways anden means committee, the ranking member. i want to ask can you, you see the effects of the hack on the colonial pipeline. the gang database released for the d.c. metro police department because they would not pay. these are just a few of the bold attacks in 2021. thit's not happening on this sce year, this is what's happening this year. is this a test of the administration, do you think? ?>> oh, it absolutely i

i'm edward lawrence in for elizabeth macdonald. "the evening edit" starts right now. >> president biden saying neither putin or russian government was involved in the cyberattack but people are in russia. pain at the pump expecting to get worse before it gets better t takes days for the gas to travel through the pipeline. the white house acknowledge aghast shortage after energy sector granholm called it a supply crutch. we have missouri congressman jason smith, powerful ways and means committee ranking member. you have seen the effects of the hack on the colonial pipeline another group of hackers went after the d.c. police department because they wouldn't pay. this is not happening on the scale last year. this is what is happening this year. this is a test of the administration do you think? >> oh it absolutely is. the world has been watching, edward. the fact that the administration didn't step in and help protect us whenever you have some russians trying to export five million dollars, that is absolutely unaccepted. in the first

to edward lawrence live at a supermarket in bethese da, maryland, with the real world stocks that is hurt. edward. >> reporter: yeah, that's true, liz. i bought this this morning. it cost me about 30 cents today than it did a year ago because inflation is creeping into the grocery stores. everything you buy in the grocery stores a little bit more expensive. go you may have noticed that. we're seeing the data showing 3.5% year-over-year now the stuff in the grocery store is generally more expensive. that's from march of last year til march of this year. inside those numbers, some very interesting breakouts. i want you to look at this, cereals and bakery products, 2.6% increase. meat, poultry, fish and eggs, 5.4% increase from march of last year to this year. dairy, 1.6%. fruits and vegetable, 3.8%, nonalcoholic beverages, 3.2% increase. this was on the mind of traders today. when treasury secretary janet yellen started speaking about interest rates and how they could possibly go up, that's when the market really started to sell off even more than it already had been. i think it's impo

i want to go to edward lawrence live in maryland with more. edward?the fed has said this would happen, 2.4% inflation this year in 2021. we're starting to she some of the numbers show up in the data at the grocery store. little by little the stuff we buy in there is getting to be more expensive. big companies on the earnings calls saying they will start passing some of those costs on. talking about companies like coca-cola, general mills, proctor & gamble. still though the price increases are not enough to change the shopper behavior at least shoppers i talk with but year-over-year we're talking about 3.5% increase in the stuff generally that we buy in the grocery store, from march of last year to march of this year. when you break it down, there ising take-outs within that. you look at the cereal bakery products up 2.6%. meat, poultry, fish and eggs, 5.4% year-over-year from march last year to march this year. dairy, 1.6% increase. fruits and vegetables 3.% increase. non-alcoholic beverages 3.2% increase. so fenn the shoppers i spoke with knew this i

doesn't our edward lawrence know it. >> you really will, neil. i have my apron here. there's nothing in my wallet because of this. i'll tell you more about it coming up next. i really hope that this vaccine can get me one step closer to him. to a huge wedding. to give high fives to our patients. to hug my students. with every vaccine, cvs is working to bring you one step closer to a better tomorrow. with every vaccine, cvs is working to bring you ok, at at&t everyone gets our best deals on all smartphones. let me break it down. you got your new customers — they get our best deals. you got your existing customers — they also get our best deals. everyone. gets. the deals. questions? got it. but, why did you use a permanent marker? because i want to make sure you remember. i am going to get a new whiteboard. it's not complicated. only at&t gives new & existing customers the same great deals on all smartphones. get up to $700 off our latest 5g smartphones. the ergo smart base from tempur-pedic responds to snoring, automatically. so no hiding under your pillow. or opting f

fox business correspondent edward lawrence reports. >> hi, martha.ckburn is calling this out. she says the nba is bowing to pressure with china. the players are quick to criticize the united states over social injustices yet has said nothing about the uighurs in detention camps in china just because of their beliefs. listen. >> we know that chinese communist party is intent on global domination. they're not our friend. they're our adversary. we need for these big tech and big business companies to realize that they are not helping the cause of freedom and the cause of our country when they're cozy with china. >> in 2019, one tweet be a g.m. in support of hong kong protesters'the league banned in china. that tweet deleted. the loss of revenue has been significant. he says hundreds of millions that they have estimated in total revenue lost in china. so you see players wearing social justice messages silenced. today the president of milwaukee bucks side stepped the question of silence in china but vocal here in the u.s. there's challenging and upheavals

let's get to edward lawrence because he's live in his backyard in kensington, maryland , firing up thethe data to tell us exactly how much more we'll all be paying this memorial day. edward? reporter: yeah, you talked about it, liz so i've got it here. the apron, now we are going to be paying more this year. i went to the store last night this is what i bought. i bought two steaks and ground beef and some cheese slices here , you see the kraft singles and that was $70 and that was a little sticker shock to me, inflation is up about 4.2%, overall this year if you went to buy a grill for the memorial day weekend, lowe's, home depot, it's all more expensive this year because of the supply chain shortages as well as the gas prices, they are all being passed on to customers here. look at some of the other sticker shocks here, if you were to buy u.s. choice steak meat, it's up 8.6%, a hot dog, are up 8.2% year-over-year from last year to this year, american processed cheese because what's a burger without processed cheese up 3% and an important one, wine is up 10.9% and now you have to grill

fox business correspondent edward lawrence joins us. hi, edward. >> in alexandria, virginia, this gas station out of premium and mid grade. they have less than 1,500 gallons. i watched the price here. started at $3.29 for regular. went to $3.34. now 3.49. so the victims of the ransomware are all of these trying to get gas here. there's a line that goes through the parking lot. 44% of all the gas stations in the state of virginia don't have gas. according to gas buddy. 65% of the gas stations in the state of north carolina don't have any gas. this is video that we shot earlier of the manager here directing traffic. with this spike in demand now, you have seen the highest prices of gas since november of 2014. we're talking about overnight jumps of eight cents in georgia, south carolina, virginia. that's from last night to tonight. or today. 7 cents in north carolina and tennessee. all prompted by the gas shortage that has been reported throughout the southeast from florida to virginia. >> i saw everyone freaking out on social media. i was

growing we all know that prices pretty much up on everything that we're paying, buying these days, edward lawrencet move and joins me more. edward? reporter: charles dallas federal reserve president robert kaplan says maybe it's time now to start talking about taking the foot off the gas from monetary policy. he says if we wait, we might have to jam on the brakes a little bit harder later. he's looking at inflation spikes that risk taking that's happening because money is cheap also, it's excess in the economy , but not just for supplies but also in labor. he says the conversation should start but declined to give a timeline of how those discussion s should go. listen. >> i think as it becomes clear that we're weathering this pandemic, i think we'd be wise to begin talking sooner rather than later about adjusting our purchases. i said sooner rather than later. i'm not going to put a calendar date on it. just sooner rather than later and you could draw your own conclusions. reporter: now, on the announcement of the cryptocurrency the u.s. taking the first step towards the digital dollar, he says th

but the way we found this, we have a terrific reporter named edward lawrence who was looking through we had the american rescue plan which already passed. of course, it was purely partisan, not one republican voted for it. we have the american jobs plan which is pending, and then the american families plan in which this, these new irs rules are embedded. what's happening in they add up, by the way, used to add up to over $6 trillion, now it adds up to $5.4 trillion because there's a compromise afoot. the administration's come back, but it's still a lot of money. i think they're conflating these three plans because they want to mix it up so people can't make sense of what's in what. >> that's right. they know if they went through the normal legislative process, most of this stuff wouldn't pass because people aren't ready to support it. and this so-called compromise plan on infrastructure, that's not meant to win over republicans, david, that is meant to keep democrats in line. and already we've had reports they've been on the phone to various democrats saying, what do you need. and th

let's go straight to edward lawrence in d.c. with the details. good afternoon to you, edward.ue along with that speculation for cryptocurrency, the chinese communist party has a long history on cracking down on anything it cannot control and there's even a hot line in mongo lia, china that's been setup to report anybody whose mining cryptocurrencies. it's undertaking too much power but again, they can't control it , so analysts say bitcoin, ethererum and even dogecoin fall into that category. >> so there's the issue that it is destabilizing as they said, right? the bigger this grows, the more it can become a victim of its own success. another aspect of it too is we have to remember that the currency here is not free- floating. reporter: james royal says one major attribute of the digital currency will be the government 's ability to track it, what people buy and how much they have. interestingly enough though, he says the anonymous nature of bitcoin and other cryptos are overblown saying the irs and government agencies are good at following the money so in addition to the chin

edward lawrence is at the white house with the latest there. good afternoon, edward. >> reporter: hi, jackie. these proposals would give about $80 billion over the next ten years to the irs to expand. they want to hire 87,000 new auditor it is by 2031. now, all of it's designed to squeeze9 another $700 billion out of taxpayers of tax revenue over the next ten years, and then the ten years after that, $1.6 trillion in tax revenue. it's all designed so the president can get more money for his tax and spend initiatives he would like to see. this would also hit cryptocurrency. for example, if you have a transaction over $10,000, it would have to be reported to the irs. the proposals would update the irs computer system, something everyone agrees needs to happen, it would give more access to every american's bank inflows and outflows and money transfer systems like venmo or crypto wallet, companies are all included in this. tax policy are concerned because they can get this financial information, then they can match it to social security numbers, e-m

jackie: we'll be watching closely edward lawrence thank you so much.ages of its hourly employees union activists are push pushing back because the pay increases don't apply to all of the restaurants. jeff flock is live in chicago talking with the protesters pushing for a $15 minimum wage at mcdonald's. reporter: one of 15 cities across the country where they say it's a strike, i assure you, you can still get a hamburger at mcdonald's, however, it's more of a protest and perhaps you see it, watch as they walk by. you point out, jackie, that yes, mcdonald's corporate just did increase wages at the restaurant s that it owns and operates. the problem is of course that that is not most of the restaurants, the mcdonald's restaurants in the u.s.. by the way, this is a big, i guess it's a parachute, can you see that, it says "note" on it with the macdonald's arches, but at any rate, yes, they increased wages but not at the franchisee restaurants and of course, that's where most mcdonald's are located in the hands of franchisees. at the same time, you know, the

joining the conversation all morning long, edward lawrence and angela moribito.rt in the extreme. ♪♪ the lincoln family of luxury suvs. (vo) conventional thinking doesn't disrupt the status quo. which is why t-mobile for business ♪♪ uses unconventional thinking to help your business realize new possibilities. only one 5g partner offers unmatched network, support, and value-without any trade offs. living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio. the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an anti-diarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may caus

00 on fox business, join kudlow live, dagen mcdowell, jon hilsenrath, steve moore fox business edward lawrence not quite sure technology is going to be place to be again you made be cringe when you say going to be on zoom and pelotons i want to get off zoom so bad that i hope that is not the case. but, you know, i look at numbers i look kind of like one sunny day doesn't make a summer, these numbers can be very wonky, again going kind of with what larry just said i think so many numbers out there just pointing to steve moore said best this economy is going to be a rocket ship, make no mistake. and the other thing you know when i think about employment numbers kind of a lag you nay job communities first once growth in economy business booming i think my own business booming then you hire last, because we have so many inflicted regulations right now people aren't quite comfortable going back to work whether stimulus check not ready to do it, i think you know look at overarching theme here the fact the demand is huge right now, also, thinking about inflation wages did go up slightly i think one o

i want to go to edward lawrence on privatesy concerns coming out from this. edward?bank accounts they'll have access to. they would like to have access to any financial firm that transfers money. we're talking about venmo, crypto wallets, any type of service that goes back and forth about that. there's concerns about information that the federal government would have. many people are pointing to the 2013 scandals where the irs some claim was weaponized against some conservative voices and republican-based organizations going forward. so there's an issue here. blake touched on it. they're saying the treasury officials are saying that the irs is underfunded. they want $80 billion back into the irs to grow it at 10% per year over the next ten years adding agents, auditors to audit folks as well as new technology to come up with algorithms that with flow information different ways. the treasury officials say they will figure out how to use this information as sort of the technology evolves. so there's no telling what they could do with it. >> charles: edward, there was n

fox business's edward lawrence has those details for us. hi, edward. reporter: nba is seeing money.t annual international consumer products expo in china could be seen as a way back into the market. one tweet in 2019 supporting hong kong protesters pushing for freedom got the league banned that has been removed. the league sent one million dollars in medical supplies to the chinese communist party for acts of goodwill to talk about airing games in china. in a letter, talking to senator marsha blackburn in a letter to her, adam silver says the loss of revenue is significant. in the letter hundreds of millions of dollars has been lost. talks for a new tv contract have not included restrictions on speech. we saw what one critical tweet did, silencing the nba. the silence of the chinese abuses goes farther than just the nba. nba players, especially superstar lebron james quick to jump on issues in the u.s. but not for issues in china. lebron james pictured a you're next before the facts came out of the shooting after the officer killed the teen in the act of stabbing another teen. lebro

we have fox team coverage with fox business' edward lawrence at a grocery store in washington d.c. e the prices are on the money. jeff flock in chicago where the fight for 15 protests are ramping up. we begin with edward. >> charles, we came here to dig deeper at mom's organic market. talking about the inflation. they sell spices here. the company that makes this spice has enough of it. what they don't have is enough bottles for the spice to go in. there's a bottle neck on the west coast. these are made in asia. the company scrambled to get another suppliner europe. you can go down the list. it's the same for pet food. the cans are in short supply. >> the height of the pandemic. we were scrambling and buying from restaurant suppliers that we don't normally deal with. so a lot of pivots and changes by our buyers at our central office. it's not to say we don't have anything going on. but you might have to be more flexible. >> it's not necessarily the product itself but what the product is in short supply. when you constrict supply, demand spikes and prices go up like lumber. prices ha

edward lawrence in maryland for us with more. hey, edward. reporter: hey, jackie. you know maybe not. new research is out there 20% of all electric drivers in california that had all electric cars, turned them back in for gas engines. one of the main reasons right here. they complained there weren't enough charging stations in convenient places plus these are expensive t costs too much to put inside of their homes. research was done by the university of california at davis. that is where the researchers were. they found 18% of the battery electric vehicles, hybrid electric vehicles turned them back in to traditional gas engines. with all this data, they found tesla owners were the least likely to turn their cars back in. the white house trying to change all this perception with money in the american jobs plan to build 500,000 ev charging stations by 2030 as well as pump more money into the other parts of the electric production line. republicans say now is not the time to do this. >> the president wants to borrow 2 trillion trillion dollars from your grandchildren

edward lawrence has been following his remarks today on capitol hill. edward, what have you got?op and other meme stocks caught his attention. he says apps that have been turned more into a gaming experience played a big role in the volatility. he has directed staff to see whether expanded enforcement mechanismings are necessary. mechanisms are necessary. >> the sec must remain attuned to rapidly changing technologies with an eye to freshening up our rule set where appropriate to continue to achieve our mission. if we don't address this now, the investing public -- those saving for future retirement and education -- may shoulder the burden later. >> reporter: now, gensler went on to say that apps with behavioral prompts like notification, they have social trading, that could affect decisions outside of the fundamentals. gensler says the sec will deepen its understanding, resources and capabilities around social media adding that there are dangers of wrongdoers hyping a stock that may not warrant investment. gensler also saying that our modern economy is leaning toward market conc

going to edward lawrence who has been chronicling this at the neighborhood grocery store. hey, edward. >> hi, neil. you have noticed the prices going up. again, you can see it at the pump steadily. in the grocery store, it is starting to go up little by little. for example, i bought this loaf of bread. cost me 30 cents more today than a year ago. when you compound that and everything you buy is a little more, it gets -- adds up a bit. the data is showing that 3.5% year over year increase in the stuff we buy on average in the grocery store is more expensive. within that, very interesting things. take a look at this. cereal and bakery products. 2.6% more from last year to this year. meat, poultry, fish, eggs, 5.4% increase in prices. dairy, 1. 6. nonalcoholic beverages, 3.2%. it's not enough to affect the shoppers that i talk with only because they're being smart. >> for example, if one week they had buy one get one free bread, i'll do the two bread. the next week they may have buy one get one free bagles. one week we have sandwiches, the next week we're having bagles and cof

to edward lawrence at a gas station in washington d.c. with the very latest. a. this gas station is out of gas. but that station right there does have gas. people are getting it. what is happening with the shortage, the gas prices have spiked here up and down the east coast. aaa says the regular gallon average is $3.05 a gallon. that's about 63% increase from last year where you were paying $1.87 a gallon here. the demand causes supply to dry up. 69% of the stations in washington d.c. are without gas according to gas buddy. it's about a third of the gas stations in virginia and half of the gas stations in north carolina and half in south carolina. so you throw in the rhetoric the anti-pipeline and the station of the administration and the republicans are saying this what happens when you constrain supply. colonial pipeline is back up and running but takes time to get the gas from texas. 5,500 miles from beginning to end. so you have some of them feeling pain here and the prices are expected to rise when it comes to memorial day weekend. some experts say prices

we have fox team coverage with fox business' edward lawrence at a grocery store in washington d.c.he

fox news's edward lawrence is at a gas station in alexandria virginia, with the very latest. reporter: david, i was checking the board. it went up from 3.29 to 3.34. that is within the time we're standing here. there is a line to get into the gas station. we are told by the manager. they're out of premium gas. they are out of mid-grade gas. they have 90 minutes left of gas at the rate they're selling it. news about the gas is causing long lines from d.c. to florida. look at some other pictures we're seeing here. drivers seeing. this according to gas buddy, almost a quarter of all gas stations in north carolina are out. virginia, where i am, 15% are out. the pipeline still shut down. it stretches 5000 miles from texas up the east coast to new york. it delivers about 45% of the fuels for the east coast. now last night the administration work group met, they decided to waive the weight limits transporting gas by truck in the affected areas. the epa announcing waivers for pennsylvania, maryland, d.c., and virginia. a second waiver this morning includes alabama, delaware, georgia,

edward lawrence looking at the ramifications for inflation. the argument goes the more the government spends the more it heats up the economy, the more prices go up in that economy. you're seeing it first-hand, edward edward. reporter: it has real effects. i went to the grocery store last night. this is what i bought, two steaks, ground beef, single cheese here, this cost me $70. supply shortage, packaging it is in in short supply. gas prices. costs more to get it to market. 4.1% year-over-year in inflation is seeing, it goes to bred, talking specifically about memorial day weekend, the buns 7.1%, costing more than last year year-over-year. look at this, 8.6%. steaks will cost you more. hotdogs are up 8.2% year-over-year. american cheese, the processed cheese up 3%. very important for some people but not on the screen there, wine is up 10.9%. so i went to the expert, stan hays is a barbecue grand champion and cofounder of operation barbecue which helps provide meals after natural disasters for the best way to grill on a budget. listen. >> ther

edward lawrence live from d.c. with the announcement.eporter: federal reserve chairman jerome powell releasedd a video statement, fed is taking action, taking first step to possibly issuing a u.s. digital currency. the digital currency could be designed for general use by the public. the fed chairman said central bank digital currency would require careful thought and analysis. >> our key focus is on whether and how a cbdc could improve on already safe, effective, dynamic, efficient u.s. domestic payment system. we think it is important that any owe tension cbdc would serve as compliment to, not replacement. cash, private sector digital forms of the dollar, such as deposits at commercial banks. reporter: compliment to not a replacement for paper currency. to make sure the fed gets it right powell says a paper will be published this summer on the possibility of issuing a u.s. digital currency. the fed wants to hear from the public and lawmakers about issues of digital currency, privacy, financial inclusion, security information as well as

edward lawrence has the details in today's fox business brief. >> reporter: hey, liz.dow 30 after halting deliveries of its 787 dreamliner on new faa concerns over proposed fixes for known quality lapses, following production problems that caused a five month suspension of deliveries on the aircraft. from the dow's biggest losers to the s&p, hpq getting hammered, pc and laptop demand begin to erode as people working from home are headed back to the office now. and the bottom to the top, salesforce one of the big winners of the day on upbeat forecasts driven by demand for its customer 360 platform sending it to the dow and s&p's winner circles. coming up, business is heating up as americans make their great escape from the pandemic lockdowns. forget about it. ♪ ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all bac

i'm edward lawrence, and this is "fox business tonight." ♪ >> our top story tonight, president bideneleasing his first budget with a $6 trillion price tag, the most proposed spending since world war ii and does not include about $3 trillion in mandatory spending on social security and servicing the debt. the tax side of the budget also removes all tax breaks for the oil and natural gas industry as well as proposes an increased capital gains tax on anyone making more than a million dollars which would be retroactive. blake burman digging deeper or into the numbers at the white house. blake, what'd you find? >> reporter: good afternoon. over here at the white house, they believe president biden's economic vision is working which is part of the reason why they are calling for more spending. as we know, they've already proposed the american families plan and the american jobs plan which is a part of this budget. that top line number, $6 trillion when you add in the federal revenues of about $4.1 trillion. that gives you a to projected deficit starting in october of $1.8 trillion. that wo

just over an hour ago, edward lawrence pinned him down for an exclusive interview.hat he said. >> i think we'd be wise to be, begin talking sooner rather than later about adjusting our purchases. i'm not going to put a calendar date on it, i'd just say sooner e rather than later, and you can draw your own conclusions. but these tools, these purchases were put in place last year. they were very appropriate then, but as we're transitioning out, i am concerned about excesses and imbalances in the economy in risk taking. it's certainly in the housing market where i think we ought to begin discussing the efficacy of these purchases versus some of the side effects and up intended consequences. -- unintended consequences. liz: which would be inflation and rising prices. let me bring in bob doll, former chief equity strategist at new bean. bob, he's out there alone. nobody aside from now patrick harker really saying anything, but what is your best guest about when we start to see taper talk? >> i think the markets will force them to have that talk if they don't voluntarily

hospitality and leisure dagen mcdowell brian brenberg- joanie, jon hilsenrath steve moore ryan main edward lawrence thank you so much for a great all hands on deck jobs friday that will do it for us have a wonderful weekend everybody i see you tonight on wall street on sunday, on "sunday morning futures" we have you exclusive program coming up varney & company begins right now take it stuart: good morning. this is not the rocketship employment economy we thought it was. analysts got it completely wrong. instead of 1 million jobs created we had 266,000 and the unemployment rate went up to 6.one%. what a disappointment. obvious question, and we are paying people to stay home, 4000 came into the workforce. and before the numbers the dow is up 100 points, that is a reversal. look at the nasdaq. in format his gain at "the opening bell". that is big tech is going up and yes it is. apple, i will go through these, apple is at 131, amazon 3349, facebook 324, and that is a very strong rally. look at this. the yield on the 10 year treasury down one.52%. at one stage it was 148-149. and tech stock investors lo

edward lawrence this morning in alexandria. stay with us. we'll be right back. nx 300 for $349 a month for 36 months. experience amazing, at your lexus dealer. (vo) conventional thinking doesn't disrupt the status quo. which is why t-mobile for business lease the 2021 nx 300 for $349 a month for 36 months. uses unconventional thinking to help your business realize new possibilities. only one 5g partner offers unmatched network, support, and value-without any trade offs. oh, i had never seen a picture of her until i got on ancestry. it was like touching the past. my great aunt signed up to serve in the union army as a field nurse. my great grandmother started a legacy of education in my family. didn't know she ran for state office. ended up opening her own restaurant in san francisco. paralee wharton elder, lupe gonzalez, mary sawyers, margaret ross. there's a lot of life that she lived. who are the strong women in your family? maria: welcome back. good wednesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. out is wednesday, may 12. a l

edward lawrence, intriguing story from the white house has more. rning. >> good morning, bill. the first step really for the u.s. to issue a u.s. digital currency. the federal reserve chairman says any digital currency would be specifically made for use by the general public. the fed chairman says the central bank digital currency would require careful thought and analysis. >> our key focus is on whether and how a cbdc could improve an already safe domestic payment system. we think it is important that any potential cbdc would serve as a compliment but not a replacement of the dollars such as deposits as commercial banks. >> powell says they will have a discussion paper that will be published this summer. in that paper he will try to get comment from not only the general public but also lawmakers about a number of specific areas. he wants to hear about privacy and information security and also about financial inclusion into this. this will be a very deliberate, not a fast process. a slower process. the u.s. really being pushed into this by the chine

edward lawrence with more from bethesda, maryland. hey, edward.y there is going up. i bought this loaf of bread, cost me 30 cents more this year than last year. year-over-year we're looking at an increase of about 3 1/2% totally at the grocery store here. that compounds as you buy different things. i want to break this down here. look at the individual sectors so to speak in a grocery score. cereal and baking products up 2.6%. meat, poultry, fish, eggs up 5.6%. fruits and vegetables up 3.8%. non-alcoholic beverages up 3.2%. so far the shops are shopping smart. >> [inaudible]. i will do the bread and buy one get one free bagels. one week i'm probably having sandwiches. next week i'm having bagels and coffee, something like that. reporter: eventually she knows as prices increase it will eventually affect the her budget. companies announced their costs they will pass on to the consumers. proctor & gamble will raise prices on baby care, feminine care products after raising commodity prices. on an earnings call, general mills, the company behind 100 fo

edward lawrence has more. >> this administration not as focused on space growth as the previous administration$3 trillion in nine years. the refocus on space started under president trump but since then the chinese have been very aggressive sending a rover to mars, launching rockets to space not caring where they landed. congress says nasa needs to get man back to the man. like it or not, we're in a space raise with china. >> i think the best way to deal with the chinese on this is to stay focused on what we're trying to do. to unlock the competitiveness even further of u.s. capabilities to make sure we're continuing to modernize regulation, encourage the industry and ensure fair competition abroad. >> he says one of the biggest growth areas in space is the amount of stuff up there, that the chinese don't care about. 130 million centerpieces of space debris. that's a millimeter long, 35,000 objects more than 10 centimeters long like parts of satellites and rockets dangerous to the international space station and people doing space walks. back to you. >> john: ed lawrence from control central h

neil: all right, edward thank you edward lawrence on that.he comeback of earmarks here, maybe this employment report is going to add more grits to that. hillary what can you tell us? reporter: hey, neil. well house speaker nancy pelosi is really trying to earn back trust with tax pairers turned off by the return to pork barrel spending in budget bills of the past but some republicans are not excited or thrilled with this idea that pork is making a return to the appropriations process. >> here is why speaker pelosi likes them so much. they become the currency by which the leadership buys votes, for unrelated legislation that's terrible. its been corrupting in the past. we've had former congressmen go to jail in years gone by because it was just too tempting. reporter: already backlashes that public is getting a peak at some of the projects being requested and lawmakers are having to defend them. congressman gonzalez is the one that requested $400,000 to put toilets on a hiking trail. his office tells us that the toilets would improve the quali

edward lawrence is at a gas station for news d.c. with the latest. edward. of the hardest places to find gas in the entire nation is right here in the nation's capital. this gas station behind me is out of gas. there is diesel but no regular gas. gas buddy said, 67%, 2/3 of all gas stations in d.c. are out of gas. if you're lucky you will find a station like that, which does have gas at pumps at this moment. that is what people are doing a gas scavenger hunt to find a gas station with gas. colonial pipeline has the gas going full blast. gas is going through it. the company says it will take some time for the supply chain to catch up. a aaa spokesperson i talked with they hope it happens this week. >> take as number of days to have the pipeline restarted. get the fuel trucked from pipeline to terminals, terminals to gas station. 2 will be a lot quicker than with we've been seeing in the past few days. reporter: what she is talking about the percentage of gas stations without gas will go down eventually. for example, take a look at this, see how gas buddy, whe

i want to first go to edward lawrence where the two sides are coming a little closer together but edwardter: there's still a big ca sm. the biden administration though says it is prepared to peril "on the massive tax and spending packages and move forward without republicans according to a top white house advisor but today, west virginia senator says she's not ready to call it quits, and will respond to the white house offer on thursday morning. senator roger wicker says that that offer will be very close to what president biden wanted on true infrastructure, near $1 trillion, and when congress, there is an issue, the aids tell fox news, that democrats don't have all the votes in the senate to go forward alone. the stalemate in this is still the definition of what is infrastructure so we will see what the response has in it and now the republican senators working on the bipartisan deal said that they're meeting with the president went very well and seemed to agree on moving forward to a compromise but it's when those senators sat down at the table with white house staff , the tone change

edward lawrence is live in washington d.c. with the very latest on this story. your pick and today as you said i was digging deeper into the impact on real estate. president biden wants to eliminate the 1031 exchanges and that's where property can be transferred and capital gains tax can be deferred now he wants to increase the capital gains tax to 39.6% that's before any state add-on. he also wants to eliminate the stepped-up and basis on inherited property, so right now , that allows relatives to pass on in some cases a lifetime investment to help their kid succeed. so the president, joe biden, says that this is all targeted, as you said at the wealthiest of americans so they pay their fair share however chris whalen says this would impact a farm, for example, that's been in a family for generations, the capital gains when the parents die could force a sale, or if someone has a 10-unit apartment building in a small town and everything the family has goes into that building, to pass it on could be too much in taxes for their heir s. >> our whole priority when i

i'm edward lawrence the australian published a report saying china considered weaponizing viruses likecientists claimed in 2015 they could manipulate diseases in ways never seen before. on "sunday morning futures" wisconsin senator ron johnson says he, like others, wants answers. >> does that shock anybody? it certainly doesn't shock me. when you see what china's doing with the south china sea islands , their actions around the globe, we should have been concerned. reporter: and they have been very critical of the chinese come you mist party specifically and wants to know what ties president biden might have with china, but also, concerned over china's actions and hong kong, others have noticed china's record number in the taiwan air space this year plus the thousand investigations a month, the fbi says, the fbi says that they are opening into china stealing potentially intellectual property, it's concerning pattern for many lawmakers and i reached out to the state department and have not heard back but there's a briefing in a matter of minutes no doubt they will get this question, dav

edward lawrence is there. edward, i bet the prices are going up, right?l the gas stations in the district of colombia are out of gas. that one, though, has gas, so if you're lucky enough to find this area, you can have gas over there. i've seen a lot of license plates from dc and maryland and virginia this past weekend because virginia only about a third of the stations are without gas. colonial pipeline started flowing gas through last wednesday. the company says that it is flowing at a normal rate, however, it takes a while to get the supply chain to catch up from where the losses have been and the shortages so senator john barrasso said now is the time on sunday morning futures, he said, now is the time for this administration to reset their antipipeline rhetoric. listen. >> we need more pipelines. not fewer pipelines, they are lifeline for our energy, for our economy and jobs. this administration has been asleep at the switch on this. if one pipeline goes down and can cause this amount of panics and the long lines, it tells you how vulnerable we are.

stuart: jerry gensler is going to testify at the top of the hour, his first testimony, edward lawrencehen it goes through. beyond that, and push notification, social trading, and would influence trading decisions. he directed staff, and whether standard enforcement mechanisms. and to be disclosed from hedge funds and investors, the ncc will look at payment flows for order flows. that is all about today's topic. the sec could regulate bitcoin if it is ets, market watchers will be listening for any questions and answers to see the sec would allow the etfs to go forward. dogecoin in this hearing. stuart: i can't wait. if they mention dogecoin does it go up or down? we will find out. thanks very much. the dow is up 120 points, 33,351. here's the headline from the wall street journal. democrats are killing the american dream, the american families plan increases individual striving with middle-class entitlement. dan heninger is joining us. i am living the american dream, you say democrats are killing it. make your point. >> they are trying to kill it. the torrents of biden legislation comes

edward lawrence in greenbelt, maryland this morning with why. edward, good morning to you.ould be found right here. they believe there was not enough charging station that is were around. also those owners found it too expensive to put the level 2 charging stations back into their homes. the study done by researchers at the university of california davis also found that 18% of battery electric vehicle owners also turned their cars back in for the tradition discussional gas. of all the numbers, tesla owners were the least likely to turn cars back in. the white house trying to change this, trying to pump $174 billion in the american jobs plant to build 500,000 charges stations by the year 2030. pump money into other parts of the production line for electric vehicles. senator chuck schumer, this is what he had to say about the visit today for president biden to plant. >> provide incentives to trade in older gas vehicles and build the necessary charging infrastructure and very importantly, creates tens of thousands of good-paying union jobs. >> he also says he would like to see

every day groceries going up from cereal to wine, edward lawrence at a supermarket in maryland talking stuff you're buying is creeping up, and and we are seeing everything up 3.5%. break it down, cereal and baking products up 2.6% from march of this year. and 5.4%, dairy up one.6% year-over-year, fruits and vegetables, nonalcoholic averages up 3.2%, shoppers are not feeling it. they are looking for coupons and deals at the grocery store. and i don't have to go to the pump is often but food prices are going up. not necessarily of the grocery stores but a lot of restaurants are increasing their prices. >> that is going to come. the federal reserve, a spike of inflation at 4% it will come back down, other economists said maybe that inflation spike won't come down on its own. >> quickly to the markets, everything is down, off 220, the nasdaq is down 250 points, that is the best part of 2%. the only thing that is up, dogecoin, still ahead, fill you in on bill mcgurn, will kane, chad wolf. my opinion, we are about to embark on a massive expansion of government programs. they will be with us

edward lawrence in rockville, maryland. what is happening to prices at the store you are at? organic market in maryland in a number of different states but the cost of pet food is going up because the company that makes the pet food couldn't find cans and limiting supply. the spice company that makes the choices don't find glass bottles these spices going, the company scrambled coming from asia and a bottleneck on the west coast, by the european supplier and eventually get this in but in the meantime the price of everything going up and so far they have been absorbing that here. >> we are starting to see price increases comes through. it is difficult time and we've got the guarantee that we are cheaper than the competition. we have been absorbing some of that. >> inflation is here, demanding for product is up, supply limited so prices are going up. we know about supply chain issues with the semi conductor limiting the amount of cars that can be built. also in lumber, home depot on an earnings call said they are charging four times as much for some lumber products because the

edward lawrence is in washington, break it down for us. >> making it rain over fair.not to sell for a longer period of time to see if the taxes will swing the other way. then the states lose out on tax money as it changes hands, the realtor loses out and the inspector loses out. any workers you hire, it is a ripple effect so this is the exact reason joel griffin says raising capital gains taxes will make the economy less wealthy over time. >> when you go ahead and tax a gain in someone's asset whether real estate or business or stock and you take that and handed to the federal government to spend that is less capital that can be reinvested into the economy. >> of president biden follows through on the plan, democrats in congress ram it through, capital gains tax would be the highest in 65 years and would impact states differently. if you look at this next map when you combine a raise in federal capital gains with existing state capital gains tax, red is very bad, the lighter color is less bad. you see the pattern, california, new york very bad, people are moving to pl

. ♪ maria: a thank you to edward lawrence and mark tepper.ood to see you. >> >> pretty good victory when we were on the air. markets came back, dow industrials came back. >> good morning everyone. let's get straight to it, and the producer level up, the consumer price inflation upset the market yesterday. is a look at lofty producer index numbers. a modest bounce across the board, down the thrills up 12 points. the dow is still up 12% for this calendar year 2021. the s&p moving 12 points higher, the real rally is in the nasdaq which had the biggest plunge. we are up roughly 100 points on the nasdaq when "the opening bell" rings this morning, on still takes us to the 13,000 level. here's the all important risk interest rate news with the yield on the 10 year treasury up one.68% despite the rapid rise of producer prices up 6% year-over-year and consumer prices 4% year-over-year, the yield on the treasury 168. look at bitcoin, at one stage well below 50,$000 was elon musk will no longer accept bitcoin as payment for tesla cars. now he says crypt

edward lawrence joins us, did china put out this crypto restriction to pump up their own currency, thate have drama and intrigue, bitcoin struggled yesterday, the chinese banking association warned against using viral currency but this is not unexpected because the chinese communist party does not like anything it cannot control so china's digital currency is not ready for widespread use yet so what it does is the opposite of crypto currency. the block chain technology, using the money and what it is for, china's digital you on will let the communist party to track where the money goes and who uses it and for what. the us is taking aim at crypto currency's for different reasons. treasury secretary janet yellen, a new framework to regulate online currency ahead of the sec testified congress needs to step in and look at framing regulation aimed at crypto currency and saying we will look at what it can do within its authority. the confluence of events the us poised to crack down to protect investors, the chinese pushing back against what it cannot control because currencies like bitcoin an

my friend and colleague edward lawrence is in his own backyard with his own grill and my question isng for your barbecue this weekend than you did last year? >> a significant amount. this year is going to cost significantly more. i was at the grocery store last night and i bought two stakes, ground beef, this cost me $70 last night so year-over-year inflation is up 4.2% and we wanted to look at things you're going to use when you grill out this year. the usda choice steak is up 8.6%, hotdogs are up 8.2% this year, processed cheese, you need processed cheese. what would your burger be without it. charcoal will cost more propane, it is up 17.2%, the bottom line is this memorial day weekend is going to cost you more if you grill out so we decided to go to the expert, dan hayes is a grand champion barbecue or and also a cofounder of operation barbecue that helps after natural disasters bringing meals to first responders. this is what he said about grilling on a budget. >> check the meat counter, check what is on sale. it is going to be different and make people think differently about ho

edward lawrence is in a gas station in alexandria, virginia.n is how high could gas prices go? >> reporter: good question. aaa is looking at the price, they jumped almost overnight. this gas station was out of gas yesterday. they got a shipment overnight. a steady flow of cars coming in. there have been lines, every pump is taken up but no line. 50% of the gas stations in virginia are without gas. that is happening from dc to florida and stations that do have gas are seeing lines and the demand spike. video from north myrtle beach, south carolina from yesterday, this pipeline stretches from texas all the way to new york. it carries 45% of the fuel for the east coast. what happened, people hear about the pipeline being shutdown they are running to the gas station to get as much gas as they can. charlotte, north carolina, 71% of the stations are without gas right now so all of this is because the hacker group that shutdown the colonial pipeline, the senior vice president for the american petroleum institute says cyber security is a top priority f