a gas station in newton, massachusetts on how drivers are coping as prices keep climbing and edward lawrence at the white house where the gas questions

edward lawrence in washington with more. edward?eporter: ups and downs in negotiations playing havoc with stocks prices and oil prices today. last minute negotiations, president joe biden speaking with united kingdom prime minister boris johnson as the german chancellor on his way from a meeting with president of the ukraine with meeting to the russian president tomorrow. then this from the ukrainian president. >> translator: we are told february 16th will be the day of attack. we'll make it a union day. a decree has already been signed. that afternoon we will hang national flags, put on blue yellow ribbons and show the world our unity. reporter: republican senator bill cassie says the whole reason we're in this in the first place because president biden de-armed our energy industry. >> if, think about it, less than a year ago under the previous administration we were not only energy independent but poised to become the have the ability to make the eu energy independent. in less than a year we lost that ability. so now russia has th

now to edward lawrence. we've been pressing the white house for some answers on how this proposed gas tax holiday, how it would work. how much it would help. just how much it could cost. edward? >> the gas tax holiday we're learning could cost $20 billion in lost revenue according to a committee for responsible federal budget. this is a temporary fix just for this year should the bill pass. it reduces the gas tax, which is 18 cents here. the white house dodging my questions about what other things that -- reversal policies that they could do that led to the high gas prices in the first place. listen. >> the president said he will use all tools to get prices down. is he looking at temporary things to get gas prices down or is there any course to reversing the policies and going back to increasing u.s. energy independence? >> i don't have anything to detail for you in terms of what he's considering. our overarching objective is to decrease the impact on american consumers and increase the impact on russian lea

ashley: all right, edward lawrence at the white house, edward thank you very much. as we said at the top of the show, okay markets maybe closed today but no doubt the threat from russia still looms over the rest of the trading week, geopolitical tensions and uncertainty has certainly been driving oil closer to that $100 a barrel the past week, and if russian president does invade ukraine, the u.s. will be pressured to release millions of barrels of oil from the reserves just to meet demand. and then take a look at nat gas, the price speaking over fears that russian suppliers of energy to europe could be curtailed if harsh sanctions are leveled on that country, nat gas up nearly 7.5%. all of this while inflation still piping hot at 7.5% with the federal reserve gearing up to raise interest rates next month. we'll get a look on friday, by the way, at the fed's preferred gauge of inflation the core pce index and, oh, yes, we have big earnings on deck this week, with home depot, palo alto networks, macy's, first up tomorrow, while lowe's, over stock.com, tjx report on w

edward lawrence had much more, edwards. >> will liz, a big surprise in the jobs report. at about 467,000 jobs in the month of january for the unemployment rate ticked up to 4%. these numbers prompted the president to proclaim america is back for for many americans wages are up this year. in january, wage increases were strong across the board and that is good. would like to continue to keep wages growing part and we need even more high-paying jobs. >> he is trying to take credit for it however failed to mention the fact that inflation, at 7%, far outpaced wage again as people see the bills going up what they pay for in gas and food going up, the present still not willing to say we can move on from the pandemic and get rid of a mask mandates or other restrictions, something echoed by the labor secretary. >> i still neglect be very careful as we continue to move forward in 2022. i'm hopeful as this year goes on eases the burden when it comes to living with the pandemic freedom hoping for having a very different conversation by the end of this year but unfortunately right n

edward lawrence has more in washington. edward.orter: so, liz, think about this 7.5% inflation year-over-year, 40-year high. you reverse those numbers and that is the wage increases that we have seen over the past 12 months. so what this means is that the stuff we are buying is significantly outpacing the wage gains. plus the president just wants to focus on one side of that the equation. president biden: we made a lot of progress on the economy. last year more jobs were created than any year in american history. unemployment dropped more than any year in american history. reporter: when you look at items that affect americans, food, increases across the board, meat, poultry, fish, eggs, up 12.2% year-over-year, cereal, baking products up 6.5%. fruits and veggies up 5.6%, all types of gas up 40%, fuel oil to heat your home up 46.5%. this adds up to more trouble for the president's spending plan. here is his swing vote, senator joe manchin. >> this inflation is harming people. that.5% is a tax. it continues to increase and not decre

edward lawrence is in washington with more. edward.eporter: liz, a day where tensions only increased along the price of gold. oil prices in general are up. the stock market was down. americans are preparing for a possible attack by russia into ukraine because it will affect gas prices here. the president saying today russia is sending more troops to the front lines, not less. >> when this is going to happen? president biden: yes, my sense it will happen within the next several days. reporter: the let also sending secretary of state antony blinken to the united nations to warn the world not to be duped. >> russia plans to manufacture a pretext for its attack. this could be a violent event that russia will blame on ukraine or an outrageous accusation that russia will level against the ukrainian government. we don't know exactly the form it will take. reporter: republicans say the only reason we're in this in the first place because president biden attacked the u.s. energy industry while allowing the russia pipeline to germany to be compl

the latest response to this invasion from the white house, edward lawrence has more. >> will jackie,kingdom and the united union and now the united states is sanctioning directly vladimir putin as well as foreign minister. today biden held a phone call a secure president. that coalescing 40 minutes ukrainian president ask for more defensive military equipment and stricter sanctions president biden yesterday talked to him and a month to see how sanctions are going. while today the white house press secretary defending those sanctions. >> the steps are taken yesterday and announced yesterday of sanctioning the ten largest institutions and a russia accounting for a huge percentage of their banking capacity. given the anticipation of that has had an enormous impact on russia and whether does the currency, the ruble that is found the markets that are sky writing and ablation for. >> the president held a call with a 30 member nato countries. out of that the secretary-general said this is the first time in history nato will mobilize its response force. it includes troops designated to nato

elizabeth: edward lawrence think of your journalism there.former national lieutenant general retired keith kellogg and rich crawford from. general your reaction to the news? >> well thanks liz. it looks like to meet the discussions i had hoped our president was having on monday and going to zelensky in ukraine on tuesday talked to germany and the rest has failed. looks like the last hope of diplomatic negotiation is gone it looks like we are going to go into a war phase. russia's going into ukraine. elizabeth: m says i did not mean to interrupt. will the u.s. go into war? will u.s. put troops in there? >> know we won't. but we are doing is bolstering native ukraine is not a member of nato print article five attack on one attack on all does not apply to ukraine but we are going to protect the planks by moving our troops there. i am absently convinced putin will not go against nato countries. to me, for prudent death and extinction level event. because in those fighting three nuclear powers per he is fighting forces that outweigh outweigh him.

edward lawrence thank you so much. good to see you.ng us now senator bill cassidy from senate energy. your reaction to this report, senator? so good to have you on. thanks for joining us. is a cyberattack a prelude to invasion? will we see aerial strikes out of russia on ukraine? >> we don't know what we will see but they will continue to impose psychological warfare even if they don't directly attack but let me build on what edward said earlier. they are strong because of the high price of energy. this administration rationing the production of u.s. energy contributes to that high price. if we want to undermine the russian economy, undermine their war machine, undermine their kleptocratic leaders let's start producing u.s. energy. that will help us, it will hurt them. it's a better way to go. elizabeth: that is an important point you're making even during the cold war the soviet union never shut down its gas exports. the cyberattack, russia wiped out estonia same way in 2007. took out estonia banks, media websites. russia has had 20 y

edward lawrence has more for us. reporter: they say that russian troops are moving closer now tonight to the ukrainian border. an address the russian president recognized two break away regions signing a decree announcing their independence. a senior administration official says this is an attack on a sovereign and independent ukraine and it's a clear escalation, possibly giving the russians a reason to go in and quote, defend the area as the russian president says he would do. the u.s. imposing sanctions on people operating in those two regions of ukraine for trade and investment. a senior administration official says more sanctions will come tomorrow as he goes forward, vice president kamala harris warning americans there will be pain. >> when america stands for its prince ills and all they hold dear, time for us to put ourselves out there maybe we will incur some costs. in this situation that may relate to energy costs for example. reporter: she is talking about gas prices which have been increasing every week for

jackie: edward lawrence, thank you so much for that. u.s.icials now believe a full-scale russian invasion of ukraine could come within the next 48 hours. for reaction to this grim warning i want to get to congressman tim burchett from house foreign affairs. good to see you tonight. let's go ahead and start with ukraine declaring a state of emergency, also john kirby offering a briefing today, essentially laying out a very grim picture when he was asked if there was any possibility that vladmir putin was just posturing here, just trying to show, put on a grand show to show his force, his might, kirby definitely said no. your thoughts? >> well, there is no telling what he is going to do. he has the world's attention right now. he is an egomaniac. he is a dictator. that is what they do. we better start thinking about is as you stated earlier, the price at the pump, america needs to, we should have quit, we shouldn't have quit producing oil. we were an energy exporter and the trump administration. unbiden we've closed, we closed down the keyston

brian: edward lawrence at white house. thank you, edward.n estimate of 500,000 ukrainians fled ukraine and russia's aggression has concerns about the days ahead. we welcome national security advisor lieutenant keith kellogg and mariannette miller-meeks from house homeland security. welcome to you both. general, i will start with you, all eyes on the prospect of talks and some kind of a diplomatic path out of this, general. general, do you see any zone of agreement that can get russia and ukraine at the table talking about a possible deal? >> brian, thanks for having me. no. i really don't. look, putin is really using this just as a ploy. if i was zelenskyy, president zelenskyy of ukraine i would probably say let's make a deal, you remove all your forces from ukraine then we'll talk. these talks are going to go nowhere. putin is determined to take ukraine. he is massing forces, continuing to move his forces but i will tell you very candidly, brian. he is stalled out. he is at the risk of losing this thing because the longer it goes and intern

edward lawrence joins us live at the white house with the recap. >> reporter: the president's pushing more spending to lower the cost of health care, including prescription drugs. he's also pushing programs, spending on more programs that would expand the capacity of the economy, so he says. now, the president not specifically talking this inflation number, but this is what he said, listen. >> everyone has less money in their pockets today because of high drug prices, drug costs and health insurance. and it's more expensive for everyone. >> reporter: and the white house shifting blame for the inflation over to the federal reserve. the fact sheet statement for this visit, this is what the president said. quote: president biden plans to start with respecting -- start with respecting the federal reserve's independence to keep elevated price increases from becoming entrenched. now, he's making the case to voters that he is working out the issues in the supply chain. those are also contributing to inflation. he's also pitching that social spending package that he says will lower the cost o

americans are paying more for just about everything as edward lawrence reports that's putting pressure on the biden administration. wall street taking a hit after the latest inflation reading came in hotter than expected, it reached a new four decade high, raising the stakes on whether the federal reserve will plot even faster interest rate hikes. we certainly expected this inflation read to come in very hot. we certainly think that in march we could see the fed raised rates a quarter to half of a percent. inflation accelerated to 7.5% year over year in january as strong consumer demand and pandemic related supply chain issues kept pushing prices up the consumer price index, which measures what consumers pay for goods and services, rose to its highest level since 1982 reinforcing the fed's decision to begin raising borrowing rates across the country. the white house blames inflation on supply chain bottlenecks and other the pandemic induced disruptions in the economy back in july, you said. inflation was going to be temporary. i think a lot of americans are wondering what your definiti

neil: a lot of people ask that question, do you know edward lawrence? he is fixture handling my weekend show, so much in my absence. by the way he is it aing very well which explains why i'm so back so quickly. edward is following a lot much other news developments i guess we're waiting to hear from vladmir putin right? whether he will take up president biden on the summit offer. where do we stand? reporter: welcome back, neil, glad you're feeling so much better, believe me. the russians said they don't have concrete plans in place yet. he is deciding whether he wants to take the meeting with president joe biden. i can tell you right now there is a meeting at the white house of the national security team. vice president kamala harris has just come in. we saw secretary lloyd austin, the defense secretary and general mark milley has come in here. we can confirm that president joe biden wants a summit with russian president vladmir putin. that came in a statement. but it is on a condition, on the condition that russian president vladmir putin does not inva

edward lawrence has more from the white house. edward. >> reporter: yeah. well as the european commission president, we're talking about the prime minister of canada, also the european union as well as the united kingdom all on this phone call talking about what the next steps could be. emmanuel macron, the french president, as he has been sort of a liaison going back and forth between russia and the rest of the western world. but as of right now, no change in the status from russia moving forward. we are seeing as usually -- as you've been documenting the shelling and the advancement of the russian troops still going on in ukraine. these sanctions so far have not worked to deter russian president vladimir putin. and these are extensive sanctions put into place. however, all of the sanctions have that one caveat whereas they do not have oil and natural gas improsed -- imposed in there. transactions will still be made for oil and natural gas, and that's why republicans have this problem. >> need to not carve out in any way oil and natural gas from my of -- a

edward lawrence at white house.ministration trying to do anything about this? reporter: the president pushed the fact that he released the strategic oil reserves, he made the announcement several weeks ago. that has not worked as you alluded to here, the price of oil over $91 a barrel. there are many experts say we could see $100 a barrel by this summer. so here is what else the president says that he has been doing, continually calling on opec plus to boost production. there is an ftc investigation into possible price gouging pushing more spending to lower costs. that is unclear how that would affect oil prices. republicans like senator dan sullivan from alaska say this is a self-inflicted problem. >> the biden administration inherited united states once again the world's energy superpower, largest producer of oil in the world, bigger than saudi arabia, largest producer of natural gas and they come in and immediately start cutting back on the production of american energy. they're doing it here in alaska, that is f

edward lawrence is at the white house with maybe some early indications. edward, what are you hearing? >> reporter: yeah, neil. i also want to point out two other things that boris johnson had saidment one, export controls would be instituted. they will not export the technology that russia would need going forward. that's something they had talked about here at the white hou. also that the sanctions would apply to belarus, which is where some of the attacks have now come from. you know, the ukrainian ambassador here in the united states held a news conference not too long ago. in that she said missiles, at least four missiles were launched from belarus, and planes came into ukraine from belarus. and she says or she claims they attacked not only hospitals, but air bases, airfields,, military bases as well as the nuclear site at chernobyl, and she is also calling on the west to send more military aid and continue that military aid. i want to lay out what happened this morning here at the white house. once the first bombs started to fall here, the president h

lauren: edward lawrence really pressed her on that.tration doing to bring down the price of energy, and she mentioned everything that drives up the price of energy. listen. >> reporter: what about encouraging the investment in drilling in other places in the u.s.? >> again, i think the president's view is that we are, it is a huge advantage to us to be a leader in the clean energy transition. and over the course of years and decades, we've become a clean energy superpower. i would note again, and you can ask the oil companies this, there is land they're not all drilling on. every lease is not used. i'd encourager them to -- you to ask them that question. lauren: no regard for, you know, what consumers feel. and untiles -- also it's a national security issue because we're looking for oil elsewhere so europe doesn't have to rely on russia. stuart: the president blew our energy independence. lauren: on day one. stuart: we've got to go. thanks, lauren. i see green for the dow, red for the nasdaq. we'll be back. ♪ baby i'm sorry, i'm not so

edward lawrence has that. >> reporter: the federal reserve is changing rules related to senior fed managersion of authority. what they decided to do was to ban all stock purchases and individual stocks in an individual sector. the fed can no longer hold investments to individual bond agencies, commodities or foreign currency to enter into derivatives or engage in sales or purchasing securities on margin on the selling and purchasing side for approved things. the purchasing and sale will end entirely. it will not happen in a period of heightened market stress. this comes in response to investments and activities by dallas federal reserve president robert kaplan and eric rosengrant. they made millions of dollars and cause a controversy, both resigned last year. they did nothing wrong under the old rules that led to an appearance of inside knowledge. there is a greater disclosure for fed investment and visibility on financial moves. the senior officials have one year to settle their accounts. these rules go into effect on may 1st. dave: if we could do the same for members of congress. thank yo

fox business's edward lawrence is live on the white house north lawn for us. , is that under consideration? >> yeah, sandra, not so much at the moment. president biden considering raising the price of fees to drill on federal land at the moment. let's do a little fact check. this is the president last month about the rising gas prices. >> you saw what happened when i was able to convince everyone from china, india, a number of other countries to agree with us to go into their version of their petroleum reserve, to release more into the market. so that that brought down the price about 12, $0.15 a gallon, some places, some places more. >> actually, oil prices rose on the day of the announcement, and only fell in days later because of the threat of the omicron variant and fears of more lockdowns. as you said right now, the price of oil is more than $91 a barrel. some experts predict $100 a barrel by this summer and that directly impacts gas prices, which as you said, $3.44 a gallon for regular unleaded, highest since 2014, when it was vice president joe biden. an

edward lawrence is at the white house. are we going to hear directly from the president this morning? >> reporter: so i don't know about this morning, but i can tell you that press secretary jen psaki said once russia invades ukraine, we would hear from president joe biden, so we do expect that to happen. we'll have to see exactly when the timing of that. so far no timing of the president speaking. what's happened this morning is the president convened a meeting of the national security council. he's also talking right now on a prescheduled meeting with g7 leaders over video conference. they are obviously talking about this situation, how to react. so the white house is also working up ways to respond to the invasion that they're seeing in ukraine. so far publicly we've only seen a statement of a readout of a phone call between president joe biden and the ukrainian president. in that statement the -- the president says the ukrainian president asked me to call on leaders of the world to speak out clearly against president p

fbn's edward lawrence with the latest. so what is the plan, edward? ideas from president joe biden about how to reduce oil and gas prices. as you know, oil prices directly relate to the price of gas. right now an average gallon of unleaded is $3.44. that is the highest level since 2014 when a then vice president joe biden was in office. the price of crude oil more than $91 a barrel. experts are saying we could see $100 a barrel by this summer. so what else is the president saying that he's doing? he's calling on opec. the price of crude oil today, 91.32 is where it finished. there's an ftc investigation in to price gouging and pushing for more spending to lower costs. it's unclear how that will affect gas prices. i asked jen psaki if the administration is considering reconsidering the policies meant to discourage investment on oil drilling. listen. >> what about encourage investment in drilling in other places in the u.s.? >> the president's view, it's a huge advantage for us to be a leader in the clean energy transition. over the course of years arou

edward lawrence live at the white house, edward? reporter: yeah, the president right now as you saw in that video talking with those ceo's in the room there he's talking about climate change and one thing the shift to clean energy, as another, they are also talking about the power grid and climate spending on the power grid. you see them there in the room with the president in the middle socially distanced. now, $62 billion in the bipartisan infrastructure bill will go to utilities, with the goal to invest in american manufacturing and workers on utilities, expand access to energy efficiencies, and clean energy for communities also build technologies of tomorrow through the lens of clean energy not a lot of specifics. we'll see we have the president speaking moments ago. listen. >> and then we're investing in clean energy, as a stronger, more resilient grid, 100% clean electricity by 2035, and that's a major piece of the puzzle in one of the commitments that i made we would try to do. reporter: now, $11 billion of that money will go

edward lawrence with all of that. harken back to the most crucial aspect of edward's report, i wonder how erratic he feels, a member of the european parliament, former minister of national defense, we are honored to have you. thank you for taking the time. neil: let's talk about the about a month thing. do you see this crisis in ukraine going another month? >> i think if the russians prevail in the short run vladimir putin will have a guerrilla war for a decade. you cannot stop him with sanctions. sanctions work in the medium term. you can stop him with antitank and antiaircraft missiles. them have been delivered, ukraine needs more. neil: when you talk about what russia could or couldn't do very few seem to think they won't swiftly take over the country but much like the soviet union experienced in the 1970s, all of a sudden guerrilla warfare drags them down, makes them rethink what are we doing here and they leave. is that part of a growing consensus? >> i think vladimir putin's plan is to do a swift regime change i

edward lawrence has more on that. >> reporter: hey, neil.ere. ukraine produces, is a large producer of neon gas. senator marco rubio says that u.s.-based semiconductor manufacturers or use 90% of that neon gas to make a semiconductors, and he worries that should there be a full scale invasion, that could disrupt the export of that a hurting business business with huge backlogs already. ukraine is also one of the top five producers of wall street and corn in the world,. any disruptions could raise food prices because u.s. farmers might be offered more to ship those overseas, consumers would have to pay more to keep the food here. on the ore side of that -- other side of this, we're already seeing oil and gas prices going up. the ceo of the american petroleum institute sounding the alarm about the energymisdirect that the russian are president could be counting on, saying the nord stream 2 pipeline won't matter should russia take the ukraine. there are oh pipelines in ukraine with oil and natural gas which europe relies on. >> you have access

edward lawrence is at the white house with the details. edward. reporter: david, yeah, originally the senator first said what bill? i will get to that in a second. we crossed the 30 trillion-dollar mark in the federal debt on tuesday for the very first time that was years ahead of what the treasury department had actually projected, mainly because of all the spending we did on the covid pandemic. we had the cares act, american rescue plan. most was not paid for with tax increases or savings, just adding to the debt. so the president of the committee for responsible federal budget says this deficit is dangerous with such high inflation. >> we borrowed during bad times, which is when you should borrow during covid and other emergencies. importantly we also borrowed during good times. we're at a point where our politicians act like paying for things isn't even a consideration. reporter: republicans are worried about what's next. >> interest rates go up, we'll have more and more of our budget consumed paying interest on the national debt. one point in

edward lawrence from the white house has the latest developments. edward? reporter: no shrimp here, but maybe some frog legs because president joe biden finished a phone call with emannuel macron the president of france. you may remember macron met face-to-face with vladmir putin last week. they did talk about the russia tension. the u.n., i'm sorry the nato security secretary-general saying moscow is signaling diplomacy should continue but he is saying they're not seeing any signs of de-escalation. experts who watch this, china and russia are concerned about solidifying of the relationship there. in fact in 2021 if you look at the trade between the two countries, russia and china, it hit a record high, up 36% from the year before. on february 4th the two world leaders released a joint statement saying this, a trend has emerged towards redistribution of power in the world calling this a new era with peace, stability and development. this newfound affinity with each other could be seen at the olympics with china when presidents putin and xi stood side by sid

edward lawrence live from the white house with that story, edward? edward lawrence david, markets may be less spooked about an invasion today. they're still down as you see today but not as much as experts would say if an invasion actually happens. still, oil prices though, taking the hit. oil prices are up today. the administration, that is because the administration has made us more reliant now on foreign oil and they're worried about this conflict. you see the things that he is doing. you see the administration is doing with the supply. the price of oil hovering above $90 a barrel. there is the list. that means gas prices will continue to go up in the u.s. republican senator bill cassidy says this is directly because president joe biden dearmed our energy industry. >> think about it, less than a year ago under the previous administration we were not only energy independent but poised to become the, to have the ability to make the eu energy independent. less than a year we've lost that ability and so now russia has the leverage over the the eu in t

a gas station in newton, massachusetts on how drivers are coping as prices keep climbing and edward lawrence

let's get to edward lawrence whose at the white house. is going to be interesting germany has not given full support to any pushback against a russian invasion. reporter: exactly and this was a very long bilateral meeting that happened in the white house i could tell you within the last 30 seconds, the guard, the marine, left the front door of the west wing that means the president left the oval office about 30 seconds ago, so the beginning of this news conference happened around this bilateral meeting happened around 1:30 p.m. you see the video from that. the world leaders talked about climate change discussing the true build-ups around ukraine, and the president does want germany to get on board with sanctions, that be imposed if russia invades ukraine. listen to this from earlier. >> state the obvious, germany is one of america's closest allies, working in lock-step to further deter russia aggression and address the challenges posed by china and promote stability. reporter: and any change of tone over the past 72 hours, the bow ing to p

and attempt to control support of 130,000 russian troops all that surround ukraine let's get to edward lawrence in the white house in d.c. where joe biden has spoken by phone monday uk about the fast changing situation. >> that happened two hours ago both were leaders saying should russia into ukraine, it'll be a protracted crisis for russia. this is the chancellor met with ukrainian president and is on his way to meet with russian president vladimir putin tomorrow. all in the mindset and the backdrop the ukrainian president going to facebook posting a message on facebook saying he was told an attack will come on wednesday. this is his message adding they will raise their flags, their national flags and fight. the news from ukraine has played a yo-yo the premarket comments as you were alluding to buy russian foreign minister, there could be a diplomatic path out of this and that turned the markets around but they did open down. barely came across the positive market and now continues to be down but trading again, the price of oil is where this is going to be a big impact, the price of oil could

edward lawrence at the white house what he is hearing about this. reporter: gas prices up two cents in the past 24 hours. the white house has no new answers to lower gas prices unwilling to talk about policy decisions that restrict future supply of oil. i had a exchange about the policies with the white house press secretary listen to this. >> we tapped the strategic petroleum reserve. sometimes that takes time to be digested into the system. we've also worked with a number about countries around the world to do something similar. we've been engaged with opec nation countries about the need for supply available to meet demand. we called out the record profits made by oil companies. reporter: none of it has worked. the price of oil close to $90 a barrel. that pushes the price of a regular gallon of gas to $3.46 a gallon. one year ago we were paying $2.46 a gallon, about a dollar less. so i pressed the white house press secretary about this. listen. reporter: encouraging investment in drilling in other places in the u.s.? >> again i think the presiden

edward lawrence is at the white house with the latest.harles, as a last-ditch effort to diplomacy secretary of state antony blinken addressing the united nations. he laid out a path for russian president vladmir putin to de-escalate. >> russian government can announce today with no qualification equivocation or deflection, that russia will not invade ukraine. stated plainly to the world and demonstrate it by sending your troops, your tanks, your planes, back to their barracks and hangars. reporter: this is a last minute trip to the united nations where he added russia plans to manufacture a pretext for an attack and blame it on ukraine following president joe biden says he is seeing russia sending more troops to the border of ukraine. he has no plans to call the russian president. this keeping oil above $91 a barrel and affecting gold. i think gold because it's a safe hive vane but two, russia's finance minister said it will rely on its reserves of gold and as well as foreign exchange reserves, budget surpluses low debt in order to weathe

edward lawrence is live at the white house with the very latest. edward?eporter: charles, when president vladmir putin start the speech he did say he was going to sign the decree making those two regions, the breakaway regions of ukraine autonomous. they would be backed by russia. he says that he would defend those regions if necessary. that could give him the justification to go in and invade ukraine. you can see two of the regions there on the screen. still within the last ten minutes or so the state, secretary of state antony blinken released a statement where he says if enacted this would necessitate a swift and firm response from the united states in full cooperation from our allies and partners. still before all of this happened french president emannuel macron was working out a summit between president joe biden and russian president vladmir putin. that meeting only if russia does not invade. that meeting may now not go forward because of what is happening within the last 30 minutes. the french president calling for emergency u.n. security council m

let's get to edward lawrence standing by at the white house.yeah, very interesting. you also heard the president set up the american people if there's possibly an invasion, it could affect gas and oil prices here in the united states. he did leave the door open, as you heard, to diplomacy for the russians. he also spoke directly to the russian people saying the u.s. does not want direct conflict with the russians but then warned the russian president not to invade, basically. he also says the white house is under the impression right now, i understand, that he has not made the final decision yet to go into this. but listen to what the president had to say just moments ago. >> united states has put on the table concrete ideas to establish a security environment in europe. we're proposing new arms control measures, new transparency measures, new strategic stability measures. these measures would apply to all parties, nato and russia alike. we're willing to make practical, result-oriented steps that can advance our common security. >> reporter: an

edward lawrence in washington, take us through the numbers please, edward. >> reporter: i have a littley year the bureau of labor that atistics revises the benchmark that they go off of, and they also revise the seasonal factors that go into the seasonally-adjusted rate. that's the reason we saw a huge revision for november and december and a big number again today. as you mentioned, huge number, 444,000 of those in the private sector, 23,000 jobs added to the government sector. the unemployment rate did tick up to 4% here. the administration's really downplayed expectations for this report today, but we will now hear a very different message. here's usa aen cools -- usa aen goolsby. >> what i thought we were going to get was a disappointing number and then our whole discussion would be about, well, it was omicron and maybe it doesn't mean the trend is over. but we got this flat-out great number that continues a multi-month trend of strong job market performance. jr. so -- >> reporter: so where were the jobs? construction lost 5,000 jobs, retail rose 61,000, that pushed that sector abov

edward lawrence with the breaking details.orter: charles, very interesting they talked a lot about the omicron variant but they did say the supply imbalances led to i am nation we're seeing here. omicron weighed on the economy in the first part of 2022. in that the participants believe the effect would be temporary particularly on labor shortages. they said the variant led to labor shortages but that would wane as the variant wanes. supply chain bottlenecks and labor shortages limit business's ability to strong demand and the omicron variant. participants said the labor market is at owe have close to full employment. participants said inflation lasted longer than anticipated because of supply chain issues. it was affected by other factors like wage growth and increases in prices for household services that would be the wage inflation some folks are worried about. participants also expected inflation to moderate over the course of the year. charles, read this directly from the report here and you guys to debate this. it says co

edward lawrence is at the white house.g future price hikes on russia. >> we already seen this in oil and gas prices as it trickles up, we have a global economy. when you have an effect in one area i invasion of ukraine to stop experts and tensions that come with that. it ripples. ukraine is one of the world's largest producers of neon gas. senator marco rubio talking about god intended consequences of allowing putin to get this far. >> there's other people's under people ukraine is one of the largest producers of gas which is critical to the semi conductor industry 90% of neon gas used by our semiconductor manufacturers in the united states depends on the neon gas from ukraine. if that's disrupted that'll hurt the industry in the united states. >> we have a semiconductor shortage proved vice president kamala harris prepared the american people over the weekend to have more economic pain. food prices could actually go up. the reason for that, ukraine is the top five exporters of wheat and corn. if that slows u.s. farmers wi

edward lawrence at the white house. what more do we know about this?derway. he's also going to talk about that increased russian buildup that's been happening where the russian president is saying he's removing troops. that's not what the u.s. has been seeing. sakss on this -- sanctions could come in a variety of areas. it could be individuals close to putin's circle. the president, though, firm that any sanctions would shut down that pipeline that he green lighted, that president biden green lighted, one of his first weeks in office. listen here. >> we'll impose long-term consequences that will undermine russia's ability to compete economically and strategically. and when it comes to nord stream 2, the pipeline that would bring natural gas from russia to germany, if russia further invades ukraine, it will not happen. >> reporter: yeah, he said that standing next to the german chancellor who did not use those specific words about nord stream 2. that leads to the possibility that maybe germany and other european nations are not onboard with all of the s

edward lawrence is outside of the white house.eporter: and, david, as you mentioned we know the hallmark of an attack, a cyberattack would happen from the russians should they invade in ukraine. now officials here at the white house are saying that u.s. businesses should now be on notice because they could be involved in the cyberattack should russia invade ukraine. i confirmed last week as you mentioned the government officials met with the biggest banks in the u.s. like jpmorgan chase, citigroup and wells fargo where they outline how russia attacks online as well as how companies can protect themselves so that the deputy national security advisor for cyber and emerging technologies tells me that u.s. or russia continuously probes the u.s. in terms of banks and other utilities for weaknesses. >> what is your level of concern that there could be an online or cyberattack against the banking system in the u.s. should russia decide to invade? >> as we know, as a society we're very connected and digitized society and that is, as a soc

edward lawrence at the white house. break it down for us.and russia? reporter: right. the swift system is the transaction system globally that allows banks to communicate transactions going through. we're talking trillions of transactions around the globe but these are very extensive sanctions being put on. not just on that. on the central bank of russia. this is the first time the u.s. has imposed central bank restrictions on an economy the size of russia's economy. sank shuns of $630 billion potentially in foreign currency around the globe. most of the russian banks are being removed from the swift system that processes transactions back and forth across the globe. that is a big deal. there are carveouts for energy that is the problem for republicans. listen to this. >> the biden administration was wedded to threat of sanctions only strategy that ultimately failed to deter putin. i support swift sanctions. i think it is this administration has been dragged kicking and screaming into it. in many cases our european allies are moving more qui

edward lawrence has more. hi, edward. >> reporter: hey, david.cans are saying inflation is the fault of the president. that's a cbs news poll that came out. over the past six weeks, we've seen when anyone in the administration talks inflation, they shift the blame to the federal reserve. just listen to this. >> sure that the elevated prices don't become entrenched rests with the federal reserve. >> we, again, rely on what their projections are, the projection that inflation will come down. >> the fed's dual mandate of full employment at stable prices, and we have every faith that they can do that. >> i'm confident the federal reserve will act to achieve their dual goals of full employment and stable prices. >> reporter: and no mention of his policies. retail sales came in hotter than expected from december to january, up 3.8%, the highest number in 10 is month nos -- 10 months. the white house press secretary saying the full fed board needs to be able to handle inflation. >> it's never been more important to have confirmed leadership at the fed t

edward lawrence is at the white house with details. hi, edward. reporter: david, getting a little preview today, the jolts report, the report that measures job openings in the u.s. 10.9 million jobs are open, far outpacing 6.3 million people unemployed in this country. also in december, 4.3 million people quit their job. that is just off, but just off the record from november. now, all of this ahead of the jobs report on friday. that is the big report. there has been a coordinated out of this white house to lower the bar on job expectations. today white house economic advisor brian deece said the numbers will be lower because of omicron. the white house spinning this up and down the administration. listen. >> we kind of want to prepare people to understand, how the data is taken, what they're looking at, what it is an assessment of, as a result the months job report may show job losses as a result of workers out sick from omicron at a point it was peaking during the week the data was taking. reporter: expectation for the jobs report on friday is 1

edward lawrence is covering how the administration is handling record inflation by pushing bills back since we last talked, you see a podium set up for folks, snow coming down here in ottawa. a lovely time of year to be in ottawa but as difficult as it has been nobody is going anywhere. as we reported in the last hour the health ministry here has said they are going to move on some of the demands of these truckers, folks that had to cross the border on getting vaccines. i was talking to a cross-border trucker. there he is. mind if i step up? i tell you. that will we happen on live television. you are one of the cross-border truckers. you have to get a vaccine to go across the border. >> yes, sir. >> did you get the vaccine? are you going to get a vaccine? >> never. >> reporter: they say the health ministry is talking about relaxing that. will that be enough to move your truck from this position? >> it won't be. >> reporter: with uni? >> freedom. no more mandates. scrap every mandate. you know what our national anthem says? god keep our land glorious and free. we don't have that right

edward lawrence is live at the white house with all the very latest. good afternoon, edward. reporter: ashley, a senior administration official tells me their argument has been month-over-month inflation is actually going down but that did not happen in this report. inflation rate remained the same. so the numbers are not falling in the president's direction but that didn't stop a positive spin. listen. >> do everything we can to keep wages up and prices down. as i said, when it comes to gas, when it comes to computer chips, when it comes to the ports, it comes to the trucks we are pressing robust agenda as we can from the white house to epunsnarl the supply chains. reporter: now i want to break this down. wages are going up 5.7% over the past 12 months. inflation, look at that, 7.5%. that means people are losing 1.8% of their paychecks. some people have to choose more food, fill up the car. inside the numbers it's bad. increase of food year-over-year at 7%. that is all food. at home food, meaning grocery store, is up 7.4%. if you're eating out that increase is 6.4%. turn tog

edward lawrence watching all this. give us the headlines. >> do you really want them? experts predicted it. more of it than we thought. the highest levels of inflation in generations. now you mentioned those rising wages. i want to break it down. wages are going up 5.7%. inflation up.5%. people are losing 1.8% of their paycheck. you see it at the grocery store and filling up the pump of your car. for some people that's the choice. more food or fill up the car. inside these numbers it's bad. increase in food prices year-over-year is 7%. home food up 7.4%. if you eat out the increase is 6.4%. turning to the pump. gas prices increased year-over-year 40%. fuel oil to heat your home up 46.5% eefr the past 12 months. increases across the board. the president talks about used cars, inflation went up 40.5% on used cars year-over-year and 12.2% for new vehicles. we spoke with the chairman and ceo of the utility southern company. he is also a former chairman of the board that advises the atlanta federal reserve and very clear about what happens if the president gets all his spen

welcome, everyone, i'm edward lawrence, this is "cavuto life."id spunt is at the white house with the latest. >> reporter: i was just on a call with a senior state department official who said of americans needing to leave ukraine, it's not just time to leave ukraine, it is past time for private citizens to leave ukraine. the president, who is at camp david this weekend meeting with his national security team, will speak with his counterpart, russian president vladimir putin, we are told, sometime in the 11 a.m. hour today. we are hoping to get some details soon after that call. overnight, state department and other diplomatic staff were told to leave at this building, this is the u.s. embassy building in kyiv, ukraine. it shows that the united states is not only preparing for a conflict, but one that is expected to potentially make its way to the ukrainian capital. yesterday, edward, at the white house the president met with counterparts from around the world from canada to germany, to great britain to talk strategy about ukraine and what's look

for mcdonald's ceo, and those us payrolls, edward lawrence has more. >> reporter: the president is taking credit for this booming economy. he did not mention inflation in his remarks. he's talking about how large companies added large investments that will create jobs. he's taking credit for that but this big number can be attributed to a revision the bureau of labor statistics. they revise the benchmark date they base the jobs report on in march of this case. they go through the employment count and revised it and the previous in november and december. they curated a bigger number this time. they revise seasonal adjustment factors. that changed the implement of us. you see big revision down. we are talking june and july numbers down by 5000 jobs. it increased numbers of november and december by 709,000 jobs showing a downward trend. the labor secretary says this is normal. >> why such a big revision? statistically that is what we've seen the last 10 years so there's no significant adjustments we haven't seen in previous years. >> reporter: president biden takes credit for this economy. >