edward lawrence in washington with more.orter: homeland security secretary alejandro mayorkas says they're planning for processing 18,000 illegal migrants per day when title 42 ends although he admits that would overwhelm the system. >> there is no question thatwe encounter 18,000 people in a single day that will seriously strain our capabilities. reporter: he laid out plan last night to speed up processing at the border to allow more people coming across. surging resources for transportation, processing, bolstering the capacity for non governmental organizations to receive more non citizens t calls reallocate resources for medical care for illegal migrants crossing the border. could mean doctors from the va sent to the southern border from other parts of the u.s. >> are you planning on taking away resources from our veterans to help deal with the surge at southern border? that is yes or no question? >> congresswoman, the resources that the medical personnel from the veterans administration would allocate to this effort is u

that messaging flock to edward lawrence has more in washington, edward. >> list, over all we are lookingghest year-over-year pce inflation level since january of 1982. 6.6% year-over-year for the favorite inflation monitor. press secretary jen psaki likes to look at those month over month numbers. when if you look at those numbers overall pc inflation went from .5% in february 2.9% in march that is a huge increase. court pce inflation without food or energy cost of the same at 3.3% grade there was no drop upward white house official told me they expected that number to fall press secretary is still playing the blame game. >> even as it relates to the inflation data that came out today, we know 61% of that is driven by energy cost paired by pollutants invasion into ukraine and we need to continue to take every step we can pick. >> house speaker nancy pelosi now saying we have to deal with inflation. >> public policy of the part of democrats in the congress as well as the president of the united states, 8 million jobs cutting unemployment in half. raising wages. and again, when that happen

liz: edward lawrence from the white house, thank you cruise lines no long taken on.arnival with the historic numbers and they climb aboard for the post-pandemic party. 28 minutes before it closes a rough day on wall street we have the dow down 261 in the nasdaq has erased all and more of the gains from yesterday. we are coming right back. trelegy for copd. ♪ birds flyin' high ♪ ♪ you know how i feel ♪ (coughing) ♪ breeze driftin' on by ♪ ♪ you know how i feel ♪ copd may have gotten you here, but you decide what's next. start a new day with trelegy. ♪ ...feelin' good ♪ no once-daily copd medicine has the power to treat copd in as many ways as trelegy. with three medicines in one inhaler, trelegy helps people breathe easier and improves lung function. it also helps prevent future flare-ups. trelegy won't replace a rescue inhaler for sudden breathing problems. tell your doctor if you have a heart condition or high blood pressure before taking it. do not take trelegy more than prescribed. trelegy may increase your risk of thrush, pneumonia, and osteoporosis. call your do

let's get to edward lawrence. he is in washington with more. edward?> liz, we're starting to see a drag on the economy because of inflation. the fist look at the first quarter gdp numbers, negative, down by 1.4%. now, the president saying he is not concerned abought a recession but acknowledges the growing numbers of banks predicting a future recession. the administration blamed big oil companies for inflation. they blamed supply chain issues. they blamed the invasion of ukraine. and made short-term solutions to push it down by releasing tens of millions of barrels from the strategic petroleum reserve. i asked if that had the intended effect? >> gas prices also did come down from the beginning as a result of these actions but we're continuing to explore additional options as we know the oil markets are global market and increasing supplies an continuing to work with other countries increase supply is part of our overall objective here. >> we're about 20 cents away from the record? >> well, again, we're continue to take steps to reduce the price of gas

edward lawrence in washington with more. edward.eporter: liz's let's start with the horrific scene in brooklyn. the president has been briefed several times what the investigation is revealing. cell phone video shows the moments bystanders trying to help some of those gunshot victims. the video also showed the terrifying moments as the shooting happened. attorney general merrick garland has been briefed on the investigation. the fbi and atf helping but the lead belongs to the nypd. >> as the train was pulling into the station the subject put on a gas mask. he had then opened a canister that was in his bag and the car filled with smoke. after that he began shooting. reporter: now to the other big story out of the white house. the headline inflation is the highest levels we've seen since december of 1981. when you remove food and gas prices it is the highest levels we've seen since august of 1982 year-over-year. this graph shows you all you need to know regardless of the spin from the white house and their economic advisors. listen. >

let's go straight live to the white house and edward lawrence on i guess edward how the president plansifically do that. reporter: yeah, exactly, and the president was meant to highlight, you mentioned the supply chain issue, was meant to highlight unclogging the supply chains, and well, the president instituting a program announcing last year to get more trucks on the roads now we met one of the new drivers today, also the president saying that that plan to get more trucks on the road is working. >> i have nothing against investment bankers they could all retire and nothing much would change. you all quit everything comes to a halt. think about it i'm not joking. reporter: the white house now pointing to these successes, states have issued more than 87 6,000 cdl's or the truck driving license since january of 2021 the wages of truck drivers increased over the past 12 months and more than 100 employers launched trucking apprentice programs in the past 90 days after the department of labor streamlined the process. now the industry has been plagu ed by high gas prices. the average price o

elizabeth: edward lawrence thank you for the report there. is now claudia and liz paper it's great to spend this friday with the both its good to see you both. first you congresswoman, it is clear the white house strategy to misdirect redirect by the present has the newest whole plunge, 39% approve 36. your take on the rhetoric coming out of the white house right now? >> it's the war on fossil fuels. if it's really putin's fault, putin has the economy and the russian economy is about the size of texas. so we are so dependent on an economy the size of texas that our entire economy is going down, shutting down we have record inflation as we just reported we have inflation rate is higher than the cost of wages going upward to still have a supply chain sugars we have a massive probit the board it which a really huge security problem. they are just trying to blame putin for something that is really biden could fix. but there is a war on fossil fuels which is reflected in the "build back better" budgeted to the new budget. it is not putin it is bid

i want to bring in edward lawrence. he has more on this from the white house. edward?e house, the white house counsel on environmental quality, a mouthful, council of environmental quality finalized a rule to reimpose strict environmental reviews on projects going forward. this rule goes into effect in may. the reviews will include reports on indirect climate impacts. returning to this review process under the national environmental policy act would, from 1978, when president carter was in office would add a significant amount of time to projects according to the u.s. chamber of commerce. listen to this. >> just to get a yes or no answer on a big project was taking an average of four 1/2 years. now you could dig down a little bit more, highways were taking seven years or more. then, some, same thing for new electric transmission lines. then there are horror stories of projects taking 10, 12, 15 more years even to get a yes or no answer. reporter: he says the yes or no answer should not take longer than the project to complete. in a statement the chair of the ceg from t

liz: edward lawrence, thank you very much. who's the real genius, the ceo of the tech company that skyrocketed 400 plus percent on its ipo two days ago is here to tell us how he's planning to disrupt the education marketplace and, get this, it involves teaching end pants to 100-year-old -- can infants to 100-year-old seniors how to think, act and become entrepreneurs. the ceo joins us next. with the closing bell ringing in 45 minutes, "the clayman countdown" returns in a moment -- claman countdown. and, yes, twitter continues to lose just under 2%. ♪ ♪ you can't buy love. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire i'm mark and i live in vero beach, florida. matching your job description. my wife and i

edward lawrence has more in washington.orter: white house finally acknowledging prices are too high with the yield curve inverted. many economists are concerned we are headed for recession. white house press secretary jen psaki telling me costs continuing to impact people across the country. >> the president will look for every way he can lower cost for the american people, whether that is many fayly fix, that he announced with former president obama earlier this weeks or the announcement about the pause on student loan payments. reporter: look for every way except turning to american oil producers. the administration announcing release of another 60 million of barrels from the strategic petroleum reserve. on top of releasing one million barrels a day, in coordination with the international energy agency releasing tens of millions of more oil from their reserves. these are coming from reserves, not encouraging new production. that is the problem for representative steve scalise. >> i went and showed all of the mountains of

liz: edward lawrence, thank you.eal erosion here. well, some economists are still throwing around the dreaded r-word even as, of course, jay powell says, you know what? we've got to keep bringing up rates. but today's countdown closer say ises he's got some picks to boost your portfolio even if a recession is on the heinz. closing bell, 10 minutes away -- is on the horizon. we're coming right back. ♪ ♪ throughout history i've observed markets shaped by the intentional and unforeseeable. for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset... the path is gilded with the potential for rich returns. ♪ wait, oh, yes ♪ wait a minute, mr. postman ♪ yeah, yeah, mr. postman - "dear michael, i appreciate your help, patience, and support through the reverse mortgage loan process. you are an asset to aag." this is from helen, a happy customer, who got a reverse mortgage loan from aag. you see, a lot of people aren't sure if a reverse mortgage is really right for them. so michael and

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edward lawrence at the white house on that. hey, edward?eil, the white house is deflecting over the issue of india and buying that oil. the president speaking virtually with the prime minister of india. it is interesting in the public comment, in the public schedule from the president this is the order of things they were going to discuss during this meeting. look at this they would discuss ending the covid pandemic, countering what the white house calls the climate crisis, strengthening the global economy, by the way now, mitigating destablizing impacts of russia's war against ukraine. that is how it was described. in the public part of the meeting no pressure of paying russia but talk of support for ukraine. >> i want to welcome india's humanitarian support for the people of ukraine who are suffering a horrific assault including a tragic shelling at a train station last week that killed dozens of innocent children and women and civilians attempting to flee the violence. the united states and india will continue our close consultation on h

edward lawrence is with us. are they talking recession or the possibility of recession?possibility of a recession. treasury secretary janet yellen met the ukrainian prime minister and what the president told us, the us is going to give an additional $500 million to ukraine in order to handle government services like salaries and the military. the secretary also told the international monetary fund that the world needs to memorize the proceeds russia gets from oil and gas and ensuring the food supply after that. the imf lowered its forecast for growth due to seismic waves from the invasion of ukraine. >> there is a very real risk soaring global market prices will result in more people going hungry further exacerbating inflation, and harm government external positions and we are doing everything we can. >> reporter: fed chairman jay powell is addressing a meeting at the institute for urban research and he has said inflation is too high and also recently signaled the fed will use all its tools to keep inflation in check including moving 50 basis points per rate hike, the fe

edward lawrence on this. edward?ident says what the energy company did in russia is blackmail. she says the e.u. is mapping out a response. here at the white house, an nsc spokesman said cutting off the energy to poland and bulgaria will replace russian gas to europe, decreasing europe's dependence on russia and putin's ability to use energy to coerce europe. energy experts tell me poland can handle this. this is a message to germany and other countries to pay in rubles or he will cut off the energy supplies to them. i asked the white house if they had a message of their own. >> is there a message to the white house or countries that might cave and pay in rubles for energy? >> i don't think we have a new message to offer today. what i would note is that we have long predicted -- this is the russian playbook, part of the russian playbook is weaponizing energy. >> so we're seeing the pressure from u.s. voters. more democrats starting to signal that they would support opening up u.s. energy independence while blaming oi

let's get the latest now from edward lawrence at the white house. edward.eporter: at the moment, neil, that seems like a proposal going after president putin, the russian president's daughters but what the european union is going to do looking to ban coal coming from russia. also banning exports of machinery going to russia as well as looking at banning shipments, road shipments from russia into europe but that has some exemptions on it. there is momentum growing for ban on russian oil and natural gas but the 27-block country would have to vote on that and they have not pulled the trigger on that particular point. the truck shipments banned would be humanitarian aid and fossil fuels. this morning the secretary-general of nato confirmed because of images coming out of bucha, ukraine, russia will pay the additional costs but there will still be no nato troops set foot in country to protect civilians. >> we will discuss how we can further support, what more we can do to support ukraine including what kind of costs, additional costs we can put on russia. i welc

edward lawrence from fox business' live at the white house with the latest on this. rd. >> dana, inflation numbers for the past two days have not gone in the right direction. he talked about that cpi inflation number, the highest level since december of 1981. part of that reason is because of the producer price index. that number had an all-time record high announced today, 11.2% year-over-year represented increase from last month's number of 10.3% per this was the price that companies are paying to get the material to make the stuff that they sell. it also could mean that we have not seen the peak inflation yet because, the cost here gets passed on to consumers. president joe biden saint, that other countries as you know are to blame for the inflation. >> the largest grant producers in the world, china, excuse me, ukraine and russia are not doing what they usually do. so everything is going up. we saw the inflation. 70% of the increase in prices in march came from pollutants price hiking. gasoline. >> but in fact, inflation was going up long before the invasion of uk

neil: thank you very much, edward lawrence following those details. with a strong report like this you could look at the estimates out there they are all over the map so whether this is considered disappointing or stronger, a look at the unemployment rate the fact of the matter was this prompted renewed talk at the federal reserve when it does meet will it hike interest rates more than thought? already telegraphed jerome powell maybe half a point hike at the next meeting, could be another half point hike after that meeting and this report might have reached the skids. mitch rochelle joins us again. gary, you are the federal reserve handset on open-market committees and you look at the latest data and do you pull the trigger on a bigger rate hike? >> yes but a year too late. the big problem right now you mentioned the inverted yield curve which presages down the road recession. everything in the market, the stock market that i am watching is screening trouble for the economy. retail stocks remain a bear market, housing stocks, go look at the new yearly

edward lawrence at the white house with more. high, edward. reporter: hey, jackie. you have major institutions starting to hint at the fact there could be a recession next year. talking about goldman sachs and bank of america. treasury secretary janet yellen said the recession is not in her forecast but again, the federal reserve is signaling big rate hikes, 50 basis points this next meeting next week. maybe even more at meetings after that. so president joe biden saying last week on his west coast swing more spending will be the solution to inflation. former ceos are saying the administration's policies are constricting supplies across the board and that increases prices. >> democrats have really no idea what to do to lower inflation. everything they do would actually increase inflation. larry summers, who told democrats this was going to happen a democrat economist telling them if they did that $1.9 trillion spending bill they would end up with hyperinflation. reporter: when i asked white house press secretary jen psaki if the president takes any responsibility fo

edward lawrence at the white house with much, much more. edward.rter: neil, the reason gazprom took this move according to the company is, physically poland and bulgaria were stopping paying and would not pay in rubles for the energy. state department spokesperson or a state department official tells us this was not unexpected because support from those countries to remove the reliance on russian energy. energy experts are telling us without, specifically poland, that without russian gas the country can handle losing that supply over the past several years poland built infrastructure to import liquified natural gas inside contracts with u.s. companies. energy experts tell me this move is a warning to other countries as you alluded to like germany which is in a tougher positions because of aggressive moves to close coal and nuclear plants. white house says the u.s. can make up the loss without changing regulations here, adding this will speed up the transition of the eu away from russian energy. some democrats changing tune on oil and natural gas so

real, at least today and at least some of what we're hearing we're getting out of washington edward lawrence reporter: oh, that and more spending the president wants to do he's on his way right now to the west coast to highlight some of that infrastructure spending and the capitol investments they would like to make in that before leaving you talked about the additional money, the u.s. is going to give to ukraine, treasury secretary janet yellen speaking this morning, saying that $500 million of that money will be for immediate governmental needs like salaries in ukraine. she also says the globe must keep oil & gas proceeds out of the hands of russian president vladimir putin. her biggest fear soaring global food prices and fertilizer will resort to more people going hungry as well as exacerbate inflation. >> i'm certainly taking every measure that we can to bolster food supplies, making sure that yields are preserved so small farmers can afford fertilizer, so taking all the steps we can to bolster the supply of food. reporter: so the international monetary fund revised its growth expectatio

go to edward lawrence at white house, with the administration digesting this with most stocks up on the news. edward, how is the white house playing this? reporter: they knew this would be a bad number. white house official reached out to me stressed why and economy is fundamentally strong. the official said we're in a transition now from the reopening growth we saw last year to a long-term growth, sort of formula going forward. now the official says there are technical reasons as for the slow reading, like inventory buying that was pulled forward into last quarter because of the supply chain issues. the president today saying that he is not worried the u.s. will fall into recession. listen. president biden: here's the deal, we also have last quarter consumer spending and business investment and residential investment increased at a significant rates both for leisure as well as hard products. number one. number two the, we are, unemployment is the lowest rate since 1970. reporter: so the commission continues or the administration continues to push for more spending while trying to shift

neil: thank you very much, edward lawrence at the white house. go to alaska governor mike dunleavy. always great to see you, sir. i was thinking of you and your state a couple weeks back when the administration announced plans it was open to a tad more energy production on federal lands. i discover it would have very little impact, virtually none for your state. very little interest on the part of energy giants far more concerned about closing off 80% of possible lands they were looking at. doesn't sound like a victory for either them or consumers or your state. >> no. neil, it just, it just keeps getting worse when it comes to producing energy in this country. again, as you know, we're sending oil over to europe out of the sbr. here in alaska we have millions of anchors of land. we have billions of barrels of oil. we have a pipeline that is a quarter full. we have the ability to transport oil down to the west coast, to our allies. and the biden administration here yesterday just announced, npr, national petroleum reserve of alaska, 8 million of

edward lawrence has the story from the white house today on this monday.r one headwind to the economy. you interviewed some economists. major financial institutions are now saying there could be a recession next year. we're talking about institutions like goldman sachs, bank of america, signaling the possibility of a recession. president joe biden believes spending will be the solution and pushed part of that social spending on the west coast swing at the end of last week. house minority leader kevin mccarthy says it's that spending that has led us to inflation at the highest level in 40 years. >> november 8th will be our opportunity to fight back. we need all hands on deck. we cannot afford to lose. we cannot afford inflation. it steals our paychecks and savings. >> when i asked white house press secretary jen psaki if the president takes any blame or accountability for the inflation we're seeing she went back to the blame game. the president has blamed inflation on the war in ukraine, supply chain disruptions, alleged price gouging by large corporations

neil: thank you, edward lawrence at the white house.tage of products from china for manufacturing and to be market for these goods. quite another to talk about these precious materials, china china china is the common theme. what do you think? >> there's nothing like supply chain problems and a massive hike in prices to get the united states to realize we don't have a lot of control in the food chain, we have to get so much from elsewhere meaning china and elsewhere, from ukraine and russia. leave no doubt, talking to a lot of corporations, we have to get control of this. lower income, middle-class income are being crushed with these higher prices because of supply chain problems, sooner rather than later. i never had to google the words rare earth as i have in the past just based on trying to find where these things are coming from and why we have so little of it. neil: you see china china china. we are learning right now dow jones, the wall street journal. when it comes to elon musk and dealing with him they are not keen saying this i

north lawn there edward lawrence. >> dana: let's bring in arkansas senator tom cotton. great to have you here today, sir. we want to talk about a couple of things especially the big hearing today on immigration but can we start with this number, what you think it will mean for what the biden administration might do? it was just yesterday that president biden said he was thinking about cancelling 1.6 trillion in student loan debt which would be an inflationary to the economy. >> dana, it would be inflationary to the economy and inflation is clearly a drag on economic growth right now. canceling that student loan debt would be outrageously unfair to most americans who didn't go to college or who don't have a college degree who don't have student loans. for every truck driver, plumber, welder, h vac repair man, carpenter who has been working hard every day since he or she turned 18 years old they would be underwriting trillions of dollars of student loans for students who voluntarily made the decision to go to college and take out those loans and just like someone who take

neil: thank you very much is, edward lawrence, at the white house. ukrainians who sought safety in poland to rethink that for the time being because many of them have been looking to go back to ukraine to fight the good fight or just because they miss ukraine. thats' not happening. alexis mcadams in poland with more on that side of the story. >> reporter: hi, neil. at the border crossing behind me which is the busiest here along the polish-ukrainian border, at its peak, there were 140,000 ukrainians coming in by the day, but now people here at the crossing tell me thousands are going back to see their family and also to see what's left of the life they had to flee. this all comes as the president of ukraine, volodymyr zelenskyy, and also the mayor of kyiv are warning people to not go back because it's too dangerous. listen. >> risk to die is pretty high, and that's why my personal advice for everyone who wants to come, please, take a little bit more time. let's see how situation develops in next couple of weeks. >> reporter: can't hear. [inaudible] t

edrd -- edward lawrence.he way, started in the years of double-digit inflation, to i say that a president biden is no jimmy carter. in fact, he says he's worse. take a look at this. enter we have leadership today in america that isn't willing to admit when they're wrong. they made a terrible blunder here x now the price has got to be paid. we've exacerbated the problem. for example, the energy issue in america. we didn't have to be deficient like we are. hell, by now that pipe ryan would have been almost complete. and biden now saying he had nothing -- blaming the oil companies? this is a disgrace. i think he's worse than jimmy carter. neil: the great thing about being a billionaire is you can set up your own home camera. you don't always have to be looking at it, but you can be enraged and get the point across. we got a lot of tweets and e-mails on his appearance: this 867 -- 86-year-old billionaire titan's view is we just immediate to start changing policies. steve forbes with us right now. forget about rel

fox to edward lawrence. he's live at the white house. ace. the republicans are concerned that the rules and regulations that are being put in to place will make projects like infrastructure projects take longer. the rules causing an issue. the president in seattle signing an executive order that outlines a bold agenda for what he calls a climate crisis. more spending. the administration plans to spend $2 billion more on forestry projects and restoration and protection. with all the other crises going on, the president says he's moving on climate change because he can. listen to this. >> look, across the country, we set the first ever national conservation goal of protecting more land and water than any other administration in record in our first year because we can do it. >> he called on congress to spend more money to lower costs. costs, not inflation. so republicans are really concerned that all of this will further push is u.s. up a national security cliff. >> europe has passed restrictive energy laws without any plan to provide for th

we go to edward lawrence at white house with more. the russians say they made this move because those two countries in particular, poland and bulgaria refuse to pay in rubles for the energy and natural gas independent shipments here. the state department official telling us this is not unexpected because support from those countries to cut off reliance of energy from russia. now energy experts are telling me poland specifically can handle this because the country over the past several years has been building infrastructure to import liquified natural gas, including a huge terminal and signed contracts with u.s. companies. the russian president knows that. so energy experts tell me this was sort of a warning shot to germany and other european countries to pay in rubles or lose russian energy. the white house saying that the u.s. can make up the loss without changing any regulations here and nec spokesperson is telling me that the move will help replace russian gas to europe, decreasing europe's dependence on russia and putin's ability

one of the bbc�*s journalists in shanghai, edward lawrence, has been showing us how hard it is to orderbecome a daily ritual trying to get onto the delivery apps for 6am for when the shops open to try and attempt to get a food order in here in shanghai. here's my order. i'm not seeing any milk or rice in stock which is quite frustrating. here we go. this is what we get when we try and order. and as i continue to try and order it the basket is actually being depleted in fact it's going right down already. clearly people are getting orders through. trying to get my order through but things are disappearing from the basket so my order that was about 30 or £40 is now coming up is just over £3 because that is all that's left in this supermarket now at what is now 6:02am. so many orders that's within a couple of minutes the stock has pretty much sold out. you can hear how difficult it is to get a basic order in. the lack of food has led to protests. these residents of apartment blocks in shanghai calling out for help. as delivery drivers across the city are overwhelmed by orders, locals in so

let's go" to edward lawrence joining us from the white house. $0.10 difference for parts of the countryg to make? reporter: yeah, you know, liz in effect that processing plant that the president is touring right now, it's the largest first-generation producer of corn for ethanol in the country. that company is one of the forum s is going to announce we're talking about the e-15 waiver. the epa is going to issue an emergency waiver for that to allow that gas to be used throughout the summer and into mid-september. now we're talking about an emergency authorization for this. that's a blend of gas that's made with cornstarch now it causes lower gas mileage, increases smog in some areas still the president wants to take this temporary measure because americans are seeing it at the gas pump and we see it in the inflation report all types of gas went up 48%. white house economic advisors believe the actions the president has taken will work. >> the president has been trying to talk to producers to make sure they are hitting their quotas to make sure they are hitting supplies and he's in iowa

edward lawrence is at the white house with the very latest. rd ward.r: charles, yeah, sources familiar with the sanctions tell us that the u.s., g-7, as well as european union will impose sanctions that mean no more investment in russia. also the sanctions will include increased sanctions on financial institutions, state-owned enterprises. they will also include more government officials and their family members. this comes on a day that ukrainian president zelenskyy talked with the u.n. security council. he basically said the atrocities they're seeing out of bucha, ukraine, have been repeated in almost every city russia occupied during the invasion. i have to warn you some of the images might be a little bit graphic. he said woman were raped and murdered in front of families. zelenskyy said they came out to retrieve dead relatives and are shot for fun. russia denies this but ukraine claims they have hard evidence. >> we have conclusive evidence. there are satellite images. we can conduct full transparent it and this is what we're interested in. maximu

edward lawrence has the full story from the white house in a moment.driving more women to vote. women could bring the key to a republican victory in the midterms in november. we have that story too. ♪♪ american woman ♪♪ let me be ♪♪ ♪♪ stuart: i still see green. nasdaq is up one hundred 20. dow was up 171 despite the fact we saw 11.2% inflation at the producer price. market goes up. paypal moving, active, down 2.8%. >> their cfo is leaving the country any for walmart. strong valuation, strong brand name. stuart: the gap, or is it gap? >> people say the gap and it owns old navy, banana republic, shares are up, 13.1%. there are rumors, chatter of an activist, why is that good for stop? an outsider comes in, typically good for shareholders, the stock is cut in half in the past 52 weeks. stuart: car max. lauren: they sell cars 1.5%, jpmorgan downgraded them to neutral. they say sticker shock is a problem that will hurt sales. used car prices, fell the most since 1969 but they are expensive and new cars coming to market. if you have a choice of two expensiv

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edward lawrence reports after this. ♪ does that make me crazy? come to the table and do more incredible things. ♪ this is my country. ♪ stuart: this is my country, and that is dallas, texas. 73 degrees today. and there's this: in the first three months of this year, there have been a 59 earthquakes in the state of texas. that's on pace to set a new record. some are blaming this weather quake boom on fracking in west texas. they say injecting the water back into the ground puts stresses on the everett's a fault lines. got that. >>> senator manchin pushing back on tax credits for welcome trick vehicles. what is he saying, ashley? ashley: he's calling the idea utterly ridiculous, and here's why. take a listen. >> it has a waiting list for evs right now, but they still want us to throw 5,000 or 7,000 or $12,000 credit to buy an electric vehicle. when supply and demand, we can't produce the product for the people who want it and we're still going to pay 'em to take it? it's absolutely lewd rouse in my mind -- ludicrous in my mind. ashley: man chan say

edward lawrence is at the white house. just how intertwined is china in this industry?een made in america. the president having trouble separating china from the made in america part. here is president biden introducing empty minerals that was able to get a federal grant of $35 million in taxpayer money to create a beginning to end supply chain for critical rare earth minerals. ashley: china >> president biden: china control the global market in these minerals and the fact that we can't bill the future if we ourselves are dependent on china for the materials that power the products today and tomorrow. >> reporter: the company that got the taxpayer money was privately held with the state owned chinese comedy with big interest. shanghai holding company had an exclusive contract to have 100% of the rare earth operations sent to china under its control. it went public last year and chinese state owned company now still holds an 8% stake. that is an exclusive contract that was replaced by one that gives rare earth to the company but allows other short and long-term leases wi

edward lawrence has more on that from the white house. >> that special measure, pce inflation is what the federal reserve, the highest level since january of 1982, year-over-year, that is a continuation of the trend the white house and federal reserve has not been able to bend. look at this graph here. overall inflation increased in this report. it is the first that includes the invasion of ukraine. the white house said they are looking at month over month changes in the data so month over month overall pci, to 0.9%, a huge increase month over month for this measure. core pc information stays the same, no drop-off, they expected this number today, and they are shaking their heads. >> we have problems with covid but it is in retreat right now. i think with the right economic policies like trump put in place we would be booming if not for the biden policies. >> a former economic adviser for the obama administration asked the white house the message is the invasion of ukraine has now upended inflation in the us. >> there are some substantial geopolitical risks that could usher us toward

fox business edward lawrence is live at the white house with more on this. creased and demand increased. you see inflation. that's when prices rise. even the vice premier of china is saying there must be an emphasis an stapling supply chains. the number of ships sitting off china's shores. the white house is monitoring not taking any preemptive action. this is my question. >> is there anything the administration is looking at doing to help the supply chain if it clogs up again? >> we haven't seen a decrease in ships coming to our ports in california from asia. we're continuing to monitor that. beijing has increased their testing which could be a precursor to a lockdown. we don't know at this point. >> however recent data shows globally one in five container ships stuck at a port with 30% of that backlog at chinese ports. the lockdown in china that started in mid-march have doubled the number of ships stacked up at china's largest port waiting for a spot to load. all of this signals more supply chain issues for the u.s. coming over the next few months. in 2020

edward lawrence following all of this at the white house. edward? reporter: sure seems covid is sort of circling around the white house. i have asked, not heard back if the white house believes president is close contact with some one who had covid. we have some video of two days ago one of the events you referenced. the affordable care act which not only included president joe biden but also president obama. you see how close house speaker nancy pelosi is to president biden. she then pose on to kiss biden, after that. she runs around and hugs president obama and kisses him on the hand. yesterday at an event, there is the kiss there. yesterday at an event here at the white house, a maskless pelosi stood with the president for some time also. that is talking about covid. there is the event from yesterday. talking about ukraine, a state department source is telling fox business that the u.s. and poland will conduct militariry exercise 60 miles from the ukrainian border, possibly a message to the russians here. that will be one of the first exercises s

. >> mike: edward lawrence is at the white house with what it takes on wallets. >> s.e.c., a new report0.2 bltdz for the new climate regulations and in the process of enacting. that could also be passed on to to us, and the things we buy going forward. so the president set to speak about what he's calling a bold agenda for what he calls a climate crisis. the president is going to sign an executive order to safeguard forests, strengthening reforesttation processes, and a nature-based solution to combat the climate change which includes advancing ecosystem resilience, no specifics on exactly what that entails. about you all of this is planning on spending about $2.4 billion of money that has already been allocated in the bipartisan infrastructure bill or the omnibus bill. former e.p.a. chief of staff says you can be environmentally friendly with not killing projects or the economy. listen here. >> it will slow down the projects and it will be to the detriment of the communities that need better roads, better bridges, need more runways and the construction blue collar construction jobs tha

all right, thank you very much, edward lawrence.can congresswoman, sits on the house veteran affairs committee, many many others. congresswoman very good to see you again. this inflation issue, earth day notwithstanding one of the solutions for it, we're told , is the president to channel more spending to make sure that we have not dropped the ball on this , but of course that spending has in large part contributed to a good deal of the inflation we're seeing. where are you on this? >> i was just going to agree with you there. we know that the massive spending that we've had over the last two years, two -plus years has added to our inflation woes, and higher taxes will also contribute to that and also the money the federal reserve is printing but i've got to tell you, neil, i pick-up my kids from school yesterday afternoon and we stop by the grocery store on the way home in between my meetings and events yesterday, i spent $157 on groceries just to get us through the weekend and i'm not sure that it was enough and i'm not really sur

. >> bill: edward lawrence has the story from the white house on why this might be a flashing red light on the economy. what's the news? good morning there. >> you guys hit on the critical point for the economy. if consumers stop spending the economy slows down because it's 70% of the gross of the economy. we could hit the recession. retail sales numbers came out 30 minutes ago and showing .5% month over month. just a little lower than expected. when you take out autos, hotter than expected at 1.1%. people are still spending. the president leaving about 90 minutes for north carolina where he will speak at a technical college about training the next generation of workers to bring the supply chain home issues home to america. one of the excuses for high inflation. i asked this yesterday. listen. >> does the president then acknowledge any responsibility for the inflation that we're seeing now based on the decision essential he has made when he came to office? >> as the president has talked about quite a bit there are a range of factors including the pandemic, impact on the supply chains an

fox business edward lawrence live on the north lawn of the white house to see what they're saying aboute sec saying it will cost companies 10.2 billion to comply with the administration climate risk and emissions standards costs passed to all of us through the products we buy. the president expected to make a bold statement for a bold agenda related to what he is calling a climate crisis. the president in seattle, washington this morning will sign an executive order that safeguards forests on federal lands. the order will direct federal agencies to strengthen reforestation partnerships and planning to spend $162 million on fors tree programs and directs the state department to prepare reports on a whole of government approach to stopping deforestation around the globe and employ nature-based solutions to combat the climate crisis. 2.3 billion spent under the bipartisan infrastructure bill for the u.s. forest service and interior department to advance ecosystem resilience with no specifics. some republicans are saying all of this is going to push the u.s. off of a national security cliff

but first, edward lawrence live at the white house with the new numbers and reaction. is issue? >> saying the republicans would like to raise taxes on the middle class and business, not laying out how, the white house knew this would be very bad numbers, in fact, the president in a matter of minutes will speak with small business owners who what the white house calls lavish praise for a boom in the economy, according to the white house, as well as it's not expecting them to talk about the rise in inflation as being a huge problem for them. president biden did take the time this morning to make the .1 negative g.d.p. number does not mean a recession. >> i'm not concerned about a recession, you are always concerned about recession, but the g.d.p., 1.4%. >> white house official telling me the economy is in a transition now going away from the reopening phase last year to a long-term growth phase now adding that we are seeing this negative number because companies bought more than they needed in inventory at the end of last year because of supply chain fears. but look at so

go to another kid pretty good following this, edward lawrence my buddy at the white house, how the administration will respond to all of this. they have been looking at inflation, blaming it on vladmir putin, blaming it on anything but themselves and apparently if you think about it it is resonating, a lot of folk, at least a strong plurality agree with him. at least they keep saying it. what do we expect out of the white house later? reporter: neil, this is the first inflation report that does impact, come from that after the invasion happened. the invasion happened on february 24th. in is the march inflation report. i got one number, 7.8 inflation number the largest year-over-year increase since 1981 when "raiders of the lost ark" is still in the movie theaters, when we went to movies then. when you touch on this number. neil: h, look on inside this up number, a lot of items are expensive. meat up 14.6%. chicken up 2.2%. fish up 10.9%. eggs up 11.2%, milk up 13.2%. all these increases you touched on a, far outpace of average hourly wages increase. all but fish, doubled on the increase. white ho

edward lawrence at the white house. the sanctions didn't stop russia. is an excellent question that i am going to ask today of the white house. first we heard from the president and the white house that sanctions were a deterrent for russia to invade ukraine, then the message for the president shifted after the invasion that sanctions were never deterrent but meant to cause pain on the russian president who doesn't seem to be feeling that pain at the moment. now treasury secretary janet yellen saying all sanction tools would be used if china moves aggressively on taiwan. >> we have shown that in the case of russia we threatened significant consequences, imposed significant consequences and i think you should not doubt our ability and resolve to do the same in other situations. >> reporter: china is learning from the invasion ukraine, experts said the chinese are seeing how the west is respond, what lines will not be crossed and how to get around the sanctions already in place. that south dakota governor says president biden is doubling down on weakness

edward lawrence has the story. how is the deterrence policy working out around the world? india is outlie year, virtual call at top of the hour. two sides officially talk about the relationship together, strengthening the ties between the u.s. and india. they will also talk about mitigating the impacts of the russian war and countering climate crisis. the big elephant in the room with this one how much oil india is actually buying from the russians. in fact contracts show that india's importing 10 million barrels of oil from russia in march and april. the country bout 16 million barrels from russia all of last year. the white house downplaying india's actions about this after an envoy talked about buying russian oil. >> i wouldn't characterize it as a warning. i wouldn't at the time. he went had a constructive conversation. decision of each individual country including in-yard to determine whether they import russian oil, it is only one to 2% of their imports. 10% of imports from the united states. they should abide by sanctions. reporter: but still tens of millions to the

edward lawrence is at the white house.t going to cost us all? reporter: well there's already a report out the sec put out a report saying it's going to cost companies $10.2 billion to comply with the administration's climate risk and emission standards rules and that as you know gets passed on to all of us president biden in seattle this morning, he's going to make a big push for a bold climate agenda that he calls will satisfy the climate crisis in the name of him so the president is going to sign an executive order this morning to safeguard forests on federal land. the order will direct federal agencies to strengthen reforest asian partnerships, the administration planning on spending $162 million on forestry programs. the executive order directs the state department to prepare reports on a whole of government approach to stopping deforestati on, also will employ nature-based solutions to combat climate crisis, 2.3 billion will be spent under the bipartisan infrastructure bill for u.s. forest service and interior departm