neil: all right.g that justice stephen breyer as expected is ready to step down formally at noon tomorrow at which time the supreme court will wrap up this session with four more decisions we're expecting. ketanji brown jackson, the president's pick to replace breyer will assume that ninth spot shortly thereafter. are is sort of page entry to all of this. i don't know how they will sort through all that. when i think of pafentry i think of david spunt. reporter: you were two kind, neil. no page entry for final day of stephen breyer's term. remaining opinions we'll get tomorrow. one we did not get today called west virginia versus the environmental protection agency. it may sound like a mouthful but it is actually a very important case about power and power of agencies on the executive level a coalition of gop-led states are suing the biden administration over its authority to regulate power emissions from power plants. the states and power plant officials say the epa is overreaching. if the justices r

neil? >> neil: thanks, ed. we want to go to chicago where we find grady trimble and those trying to fill up are relieved about this or not. what are you hearing, my friend? >> neil, every little bit counts is what they're saying, but this seems like a very little bit according to the drivers i've talked to today. how much you'll save at the pump will of course depend on how often you fill up and the size of your tank. let's go through the numbers. assuming that all of the savings, the 18 cents a gallon will be passed on to the end customer and there's some evidence that that wouldn't be the case, but if it does, if you fill up a pickup, an f-150, you'd save $4.75. it's under $5. if you drive a camry and fill it up, you'd safe under $3. the drivers we talked to said saving a few bucks here and there isn't enough. >> you just don't think it makes a dent in your budget? >> no. not at all. that's not a dent. that's not even a crack. >> i'm not complaining about $5 but i can use more than that. >> it's crazy. i used

neil? neil: yeah, that's long overdue.e cardanelli, the former nypd lieutenant. this is now officially out of control but to be fair to you you were talking about it when no one was, now we learned the role that social media plays in kind of pushing this. what do you make of it? >> social media, you know, they could say what they want, but they are just opening the door a little bit. it's just the door is just a jar it's not wide open for the parents to do what they have to do to monitor their children, but let's go a step beyond that. what about law enforcement? why aren't they allowing law enforcement to see who these drug dealers are and how the drugs are getting across? why don't they have the access that they need, so the fact that this has taken a turn the way it has with the fentanyl, i mean, you're talking about pills that are two milligrams is a lethal dose, so it's a scary drug. neil, i went through the angel dust years and that was pretty scary. this is 10 times worse because of the way they are masquerading it

>> hi, neil.ans just continue to have to pay more and more for gas as we continue to break records. like you say, 13th day in a row with a new record high gas price. so let's take a look at what that is. today the national average price of gas, $4.97 a gallon that is just three cents short of $5. nearly half of the u.s. is already paying that. 20 states plus washington d.c., they all have an average of $5 a gallon. new york, utah, vermont and rhode island the latest to join that club. according to a triple a survey in march, 70% of drivers said that if gas hit $5 a gallon, they would be their pain point. no for many drivers, we're there. >> might be carpooling, combining their eraands with their commute. they're putting off appliances. so not having the elasticity to see the fluctuation of price, it's only going to get worse. officially in hurricane season. if the gulf coast hits create problems. so this is really just the beginning of the summer. we're starting the start of real gas problem. neil

neil? >> neil: thanks, casey.h all of this going on, two parties are trying to find some common ground on something to prevent future such shootings. republicans showing some flexibility on guns so they don't get in hands of bad fox. democrats say it's not all about guns. maybe mental health can be part of the picture. these are inklings of events. doesn't mean they'll find progress. but it's a start. libby, you're a conservative writer, i could say. what struck me about your column is the flexibility to look at other options that here-to-forehas not been considered. you know, doing nothing to take away guns but do address the issue with those that shouldn't have them. maybe you can explain better nan i did. >> yeah, i've been giving this some thought. i'm opposed to restrictions on our constitutional rights. there has to be some leeway if not to prevent this entirely, put some sort of mitigating factors on it. perhaps if we limited gun purchases by age as we do with so many other things, that might be a way to bo

neil? neil: hillary, thank you for that, i think.about this actually years ago before anyone if was paying much anticipation. danielle, i've always been amazed when you think in terms of the country, all we have, all the assets, the land, the things that make america great are dwarfed by the things that make america not so great, what we owe, and it's not even close. what do you think? >> no. you're talking about apples and oranges here. and to the point of we overstimulated the u.s. economy, and now we're paying the price. we're paying the price in fades. and, you know, americans are -- in spades. americans are living paycheck to the paycheck even making good sums of money in what is still a tight labor market. the notion that raising taxes when you're headed into a recession is somehow going to help anything, all it's going to do is create higher joblessness in this country. we absolutely have to get this debt under control. the federal reserve has a role to play. i'm sure that they'ring with really -- they're being really pressure

neil. neil: lydia, thank you for that. lydia hu.ood news is business is booming. sergios chain in florida. their dining rooms are packed. the problem is finding help to deal with all the customers coming in. carlos joins us the president and ceo of sergios. carlos, very good to have you. >> thank you, neil. thank you for having me. neil: so demand is there. customers love your stuff. i was going through a couple of your menu items here, i was getting hungry. i still have another hour plus of the show to go. enough about me, carlos. tell me how you're dealing with just finding help. how do you handle that? >> well, for many restaurateurs we still feel like we're in the avengers movie where thanos snapped his finger. we're still 1.5 million shy of workforce since 2020. so you couple that with the new trend of virtual working, which by the way virtual working saves approximately an individual 70 hours a week. that is 12 days you're getting in the year free, if you're working virtual. we can't compete against that new trend. unfortunate

neil: yeah.nd to both of your point, i guess from different directions, nothing is monolithic in life, i guess. >> right. neil: we'll watch this very closely. have a safe, enjoyable weekend. >>> in the meantime, the fallout if from states that want to do manager about this. we told you about the couple of dozen so-called trigger states. florida is not one of them, but ron desantis is hinting that it wants to be. a top democrat in that state says not so fast, gov. after this. you worked hard to save for my future. so now... i want to thank you. i started investing with vanguard to help take care of you, like you took care of me. te quiero, mamá. only at vanguard you're more than just an investor you're an owner. helping you take care of the ones you love. that's the value of ownership. our ancestors had power, our ancestors had hope and our ancestors had ambition. born in 1847, formally enslaved, started buying land, was in the house of representatives. we didn't know our family was part of black

neil, especially if you're neil cavuto. neil: absolutely right. or bryan llenas. a lot of them they're not on there, they're not detailed, just sort of added in there. you're right, you should look at it pretty closely you know? reporter: yeah, you should. it should be at the bottom of the menu. if it is not that gives most people basis to go to the menu, at least put it there so i know what is going on. neil: i say send the check to bryan llenas that generally works. we'll see what happens. thank you, my friend, great job as always, bryan llenas following that. a lot of restaurants are dealing with higher costs trying to pass them along. sometimes that is easier said than done. adam kovacs sonoma ceo. these are everyday realities to you, aren't they? >> exactly. everyday reality. we went from the pandemic which was devastating especially for the fitness industry. as we're trying to recover from it, business still being 30% down as of today, now we're dealing with this inflation and, you know, cancellations. so it is just getting worse for small business owners. n

neil. neil: griff, thank you very much.ld, excellent reporting. but, man, oh, man, i don't envy your assignment. thank you very very much. >> thank you, neil. neil: griff jenkins on all of that. some happiest news across the pond, britain is celebrating her majesty's 70th year in power. unfortunately, the queen, another event she had to skip out on, but we're told that she's watching, very hopeful and grateful after this. you're a one-man stitchwork master. but your staffing plan needs to go up a size. 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 >> all right, let the jubilee continue. another event that the queen had to opt out of today just as yesterday was the case, but she, we're told, is watching it all very grateful for it all as her country pays tribute to the longest reigning monarch, forget about england, anywhere on the planet. and the whole king tut phenomenon, in ancient egypt. the queen has 70 year

neil? neil: yeah. it's getting heated all the more. just the regular physical heat you're no doubt feeling, aisha, thank you very much. well, you know, they're called the safest of blue states, california and new york. i think in california last time a republican won was george bush sr. back in 1988 in new york, ronald reagan in 1984. but could that change this go round? why the former republican governor of new york says it's about to, after this. kitchen? sorted. hot tub, why not? and of course, puppy-friendly. we don't like to say perfect, but it's pretty perfect. booking.com, booking.yeah. better luck next time. but i haven't even thrown yet. you threw good money away when you bought those glasses. next time, go to america's best - where two pairs and a free exam start at just $79.95. can't beat that. can't beat this, either. book an exam today at americasbest.com muck measure. ♪ >> that observation that blue states could go red this year is absolutely true, and i think it's the case in the new york. you need a number of things. on

neil? neil: mike tobin, be safe.se the high prices. >> reporter: hi, neil. president biden continues to put the blame on putin for high prices for fuel and food. >> families who are struggling probably don't care why the prices are up, they just want them to go down. joe, what are you going to do to bring them down? but it's important that we understand the root of the problem, putin's decision to the brutally and savagely invade a sovereign nation. >> republicans disagree and so does the data. take a look at chart on inflation. it's clear that the prices were climbing well before putin invaded ukraine, and high prices started their climb and their uptick when president biden took office. >> we can blame vladimir putin for a lot of things, but two of the things we can't blame him for are gas prices and inflation. we have to look at biden and his policies and him injecting prls of dollars into the -- trillions of dollars into the economy which is the root cause of inflation. >> reporter: president biden also ap painti

neil? >> neil: thanks, david. now to jim trusty, the former doj prosecutor. jim, we talked about these protests outside justices homes. i remember you were worrying aloud about this thing happening. apparently it's illegal to do that people still are and were doing that. what to you make of that? >> yeah, look, i think there's separate problems here. one is that these protests are in fact illegal. there's an obstruction statute under the u.s. code that deals with trying to intimidate or influence justices at their homes. so take to it the court. i may have hated every word that schumer said but at least it was at the supreme court. so starting point is no change in position for me. all of these folks marching up and down the potomac bothering the neighbors, the kids and the justices, that should have been stopped a long time ago. not necessarily with arrests but the threat of arrests. time to move on. there's a federal statue on point. this guy today, the open question for me is why he wasn

neil? neil: lovely. kelly o'grady following all of that from la-la land. tim ruud joins us housing industry iconic player. tim, numbers out of case-shiller, final spurt of activity, or at least heightened activity year-over-year that will now start declining, not necessarily into recession or even a crash or any stuff like that but you know, we've been used to these strong double-digit advances year-over-year. that will start slowing. i don't know if that is a good thing or a bad thing. how do you look at it? >> hi, neil, thanks. kelly nailed quite frankly. taking my per diem and going home. to your question it has to moderate. it is totally unhealthy to have 40% appreciation rate over a two year period. you compound that with interest rates that are doubled, it is a recipe obviously for slowing, moderating market which is what we've all been looking for. the irony of some of this the fact jerome powell, wrote the play, called the play. now is is straight up close lining the housing market

neil: all right.e ask you a little bit about this, one hinge that this whole supply chain issue has taught us is how much we fend on certain countries. china comes to mind not only on, you know, a host of very crucial products we need for everyday life, but our toys, our electronic items from iphones to laptops. and china can flip that on or off with the switch of a button. regardless of the container ship in question, right? >> well, i mean, there's -- we're importing record amounts of cargo from china today. that's been the case for a long time. 60% of the asia trade with the u.s. is from china. the reality is that we have a lot of land-side constraints in the u.s. supply chain, everything from distribution center capacity, truck capacity, chat chassis -- chassis availability, rigidity of port capacity. when there's not enough distribution center capacity, a container becomes a normal warehouse. so we have a slowdown as well on term malls, and that's really what has gummed up the supply chain. and i

neil? >> neil: thanks, kelly. now to lydia hu. food shoppers, grocery store shoppers, it's nothing new to them. the fact is than it won't end and end at all. let's go there to yonkers new york with more. lydia? >> hi, neil. food prices are a major driver of the inflation rate that we're learning more about today. the cost in the grocery store up almost 12% over just the last year. watch. >> obviously look, you have fuel prices going up. i talked to a rancher. they have to put fuel in their tractors and their fishing boats. it's a reality. look what is happening at the pumps today with the fuel prices. labor is another thing. people have had an increase there. >> sandra: >> now, neil, we're seeing huge price increases for very basic items like the price of eggs. up more than 32% over last year. we also know meat prices up 12%. milk up almost 16%. it's not just food at the grocery store. new data shows that online prices for groceries were up by a record amount in may rising 11.7 year over year. we know americans across the country

neil: wow.ing back, one thing to look at their stocks and thousand they're getting hit by all of this but it's a good inflection moment, that was the promising side of the economy, the comeback in air travel, after we were all locked down and everyone wanting to get out there, i'm wondering the more people hear and see this, the more they say, you know what? , i don't want any part of this. could it actually do more harm? >> i think we're still in revenge travel mode. people still want to take that vacation, see a relative they haven't seen, seen something, visit somewhere on the bucket list. have that going on. as we get out of summer season we may see declines. look at tsa turnstile numbers we're 5% below the peaks of 2019. we've caught up pretty much. we don't have the capacity. neil: you know, could i switch gears on to technology, your real strength, you've been so good calling this selloff, saying that it could get overdone, maybe to a lot of peoples mind it has, but tesla is in focus toda

neil? >> neil: thanks, casey. lieutenant chris olivarez, the texas department of public safety. he's been monitoring this. always good to have you, lieutenant. we're learning that the administration kind of wants to do what the governor of texas has been doing, and that is take some of these apprehended at the border and bring them north. the difference with the president's plan is to keep them in texas. can you update us on that? >> good afternoon. you're right on point with that. it's great for the smaller border communities along the border. alleviates the overcrowding of these immigrants that are being released. all it will do is transporting those immigrants to a larger facility in larger cities and ultimately you'll transport them to the final destination. this is not an end result. all it's going to do is continue to transport them through the process to larger cities and from there to the ultimate destination. with that messaging, all it will do is create more chaos at the border. what i mean by chaos, lar

neil? neil: i could take offense to that. stuart: you could. neil: but i do know a thing or two about hotdogs. you don't strike me as a hot dog either. stuart: no. neil: has to be try triangle shaped sandwiches with the crust cut off. stuart: do i have a show to do? , i do. thank you, stuart, very, very much. we have selloff on corner of wall and broad. middle of a trading day, wrap up a quarter, a month, half a year. i don't have to tell it has been a iffy month. it has been a really lousy quarter, a horrific half year but we still have another half year to go. when you look at this, in across the board selling, not as bad as it was earlier, always a battle how high interest rates go. how high tensions go globally and how much federal reserve, this federal reserve acts central bankers around the world act. we're seeing a concerted effort on the part of the last week, bank of switzerland, european central bank, bank of canada all doing the interest rate hiking thing to sort of try to calm t

neil? >> neil: do we know this significance of cassidy hutchison saying this now and allegations that seem over the top right now when she was giving recorded testimony some months back, do we know whether these exact same comments came to light? >> well, it's interesting this whole process. we just found out about the hearing yesterday. it was all shrouded in mystery. we didn't know who the star witness was going to be. the committee has really been trying to sort of dribble little pieces of information one hearing after another, almost to keep people interested. we also have been hearing reports that christmas did hutchison had a different lawyer earlier when she was first giving those depositions, four of them and she's changed her lawyer, fired the first one and has since changed her lawyer. that may have also contributed to her coming forward and releasing more new information that we heard today. neil? >> neil: thank you. i want to go to bret baier, "special report." the initial marks

refineries right now are already, neil, producing at close to max capacity. neil? neil: all right. thank you very much for that hillary vaughn. to that max capacity argument we dug into this a little bit. most refineries are in indeed set up to process oil imported from abroad. so it is not as if they just open up the spigot, that is a benefit to existing u.s. oil supply or there is more american supply there. they are, sort of retrofitted to the foreign supply that comes in, that has to be reprocessed for american consumers. that aside, much is made of refinery utilization. it has been reaching a key point this year, actually four different times this year, close to 96%. now again, it is feast or famine with this sort of thing. we wanted to step back, not point political fingers, get an idea what's really going on. for that i want to go to claire chase, mac energy vice president of public governmental affairs. claire, help me out with a couple things the president isn't saying. industry is sitting on fat profits and has no intention of boosting production because of those fat prof

neil, it is yours. neil: thank you very much, stuart. we're following developments from the white house on inflation by the way. we have a new culprit behind rocketing from ising apparently shipping costs. president tweeting out, one of the reasons prices have gone up because a handful of companies who control the market raised shipping prices by as much as 1000 percent. it is outrageous he says. i'm calling congress to crack down. how widespread of this problem or sort of a head fake for us. edward lawrence with more from the white house. heed ward, what is going on here? reporter: that tweet was posted with an edited video talking with a number of folks with farmers as well as shippers. it is edited together to make look like things are very, very bad. as you said, that tweet, i want to show it to you, you read it out. this is actually what it looks like. it says a handful of companies who control the market raised shipping prices as much as 1000%. when he got into office inflation was 1.4%. this was not a problem. now 8.3%. we'll get

neil? neil: hmm, that's the danger of an election year.hn, thank you very much for that. meanwhile, on to that baby formula controversy that seemed to be getting resolved until mother nature intervened. lydia hu on what happened over at abbott labs. will hid ya. >> reporter: yeah, hi there, neil. s a setback for abbott because some severe weather that swept through region earlier this week caused some flooding at the sturgis plant there in michigan, so they had to shut down production there on wednesday a after they only restarted production there less than two weeks ago. this is going to delay the production of new product for a few more weeks, and the delay getting our supply of baby formula back on shelves. now, the white house press secretary was pressed on when the baby formula shortage will end just yesterday. watch here. >> -- the entire consumer? >> i don't have a timeline for you on this, but what i can say is we're doing can everything that we can from here. >> reporter: but the fda commissioner said this week that with boosted d

neil? neil: where do you see us going? you talked about gas rationing and diesel fuel rationing, but that's the next thing you fear. we might be on the precipice of that, then what? >> neil, there's a war going on north american oil companies and it's wrong. president biden is going to saudi arabia to beg them, to beg them to make more and send it over. we're negotiating with iran, through russia, to send more oil over. we're negotiating with venezuela , through russia, to send more oil over. we've got all the oil we need in north america, but i don't understand why the white house is not doing it, and all our factories, neil, 70% of our factories and deliveries to stores for the whole country, 70 % comes from diesel fuel, and diesel fuel, the price has doubled in the last 12 months, seven months, eight months, you pick it whatever you want and it's going to go even higher because we had that discussion. oil was 100, $105 a barrel. right now, it's pushing $120 a barrel, but the american peo

neil? >> neil: david spunts, thanks for that. one of the things you've been hearing about the waiting of this decision from the supreme court is that at least two dozen states were ready to trigger their own anti-abortion laws and put them in effect immediately. senator mike lee sits on the judiciary committee and joins us now. senator from the beautiful state of utah. senator, good to have you. i don't know whether utah is one of those states, sir, but what do you think of states that are going to implement these triggers? >> yeah, utah has a trigger law. it's written by one of our great state legislators. utah like so many other laws really does have an interest in making sure that it legislates what we see is the democratic process unfolding now. that process has been taken off of the table for 49 years. and this is what the republican form of government looks like. it allows people through their elected lawmakers to make laws, including laws regarding how best to protect unborn human life. >> neil: so senator, you think it ad

neil? >> neil: thanks, griff jenkins. hector garza, the national border patrol. i imagine it's going to get tougher for your men and women now. >> well, it's very important to note that there's two different categories of illegal aliens that come across the border illegally. one of them, the people seeking asylum. those are the people emboldened to come across. now we'll see catch and release on steroids. the other category, those trying to get away. our agents will be processing more than ever before and these criminal illegals and drug somethinglers will be scot-free. aliens will continue to die in the back of 18 wheelers and illegals will continue to die in vehicle pursuits. the worst part is that our american citizens, our communities are being impacted. the end of remain in mexico policy will encourage more illegal immigration from all over the world. >> neil: let's ask you about the processing here. if they don't have to remain in mexico and presuming they're here and processed and not including got-aways that the name implies get away and they avoid all of

neil? neil: edward lawrence, thank you very, very much.o follow up on something edward said with carol roth, small banker, author of war on small business, mark tepper, strategic wealth partners. as you heard here the president might make a decision one way or the other by the end of this week whether to temporarily lift of the federal gasoline tax, 18 1/2 cents. would that move the needle much, carol? >> i mean, it is like all of their other proposals, it doesn't fix the root of the problem. it would be great for us to not be swimming in gas taxes which happens usually at the state and local left there is some federal component but the bigger part is usually state and local. whether it is canceling student loans or suspending the gas tax, they don't want to get their hands dirty. they don't want to fix the actual problem. they want to kick the can undo the road. at some point we have to address the root cause issue and the tax isn't a great thing but the issue is the energy policy. if he wanted to actually do something, neil, he would do

>> hi, neil. good afternoon to you. both airlines and passengers are bracing for turbulent days, a record number of travelers, this could create a perfect storm and major delays. they're pushing back that this is somehow their fault and blaming staffing shortages. major u.s. carriers says the industry is doing everything possible to create a positive customer experience since it's in the airlines interest to keep customers happy to return for future business. bernie sanders does not buy it. he says airlines won't act until money is involved. now sanders is calling on the department of transportation to do a couple things. requiring airlines to refund people for delays quickly and wants a $15,000 time per passenger on domestic flights delayed two hours or more as long as weather is not to blamed and airlined fined $55,000 per passenger if they schedule flights that cannot be staffed. sanders says taxpayers kept them afloat during the pandemic. for his part, pete buttigieg says the administration is paying attention. >> t

neil: right. >> i thought the fed needed to shock the system back in march and they didn't do it. i thought they continued to fall behind the eight ball with every meeting that they don't do something more drastic. am i in the camp? i'm absolutely in the camp. am i excited about being in that camp? not really. my sense they're so far behind, they're losing credibility, i think this move almost screams of desper operation. it seems, we're admitting we so missed it, now, we have been promising everyone 50 basis points, got it under control, nothing to worry about. now going two days before when they make the announcement yesterday in "the wall street journal." somebody spoke to the "journal" over the weekend, leaked the information. i think they have to do it. quite honestly i think they have to do it again in july. neil: the market would be jarred by that, maybe not a response the fed would welcome. they realize this is such a problem they have to get ahead of it. again to your point, kenny, i'm be

i'm neil cavuto. to finish this sort of holiday theme, let's go to jacqui on news that might make you scream. it's a veer between christmas themes and dr. suess. take it from there. >> i think it was very eloquently put, neil. on in eve of the fed decision, odds are increasing that the fed will move more than expected. last time we got a half point interest rate hike. this time the market is pricing in a 90% chance that the fed move 3/4 of a point. goldman sachs economists are now expecting 75 basis points in june and july followed by a half point move in september and then a quarter point move in november and december. why are rates rising and what impact it has on the economy. the fed's target for inflation is 2%, well bolo the 8.6% reported friday. judged by the pricer index, up 10.8% last month. the expectation is that producers will continue to pass on the costs and higher prices are here to stay for a while. under those circumstances when the fed raises the cost of borrowing, it slows down consu

>> good afternoon, neil. even with this mixed picture at the close today, it was a sell button dominated wall street week. take a look at the major three averages. it was a sea of red. year to date, the markets have been pummeled. the dow and the s&p 50 -- oh sorry. the nasdaq and the 500 in bears market. the dow was approaching that level as well. we'll be watching for that in the weeks to come. the story is about how to tame 8.6% inflation. the expectation is inflation will remain at these levels the next few months at least. jerome powell raised rates mid week. first thought that they were going to use the tools to cool it off and then the reality hit of a recession. it's already having an impact. listen. >> gas prices are just hard right now. >> very hard. hard to pay my bill. what can you do? >> i actually work for gas. i work for gas. i work for food. >> i pay more for a lot at the grocery stores. >> potato chip bags have less stuff in them that is happening. ice cream, much smaller for the same price.

neil? >> neil: just incredible, casey.ontinue. meantime, a covid update right now. we talked to dr. fauci yesterday who thinks we could be over the worst of it. he wasn't making any predictions. we're learning that china is about open in shanghai. that city all but shut down, locked down, i should say for about four months. cases seem to be easing to the point that china is reopening. we're seeing italy as of today lifting all pandemic entry restrictions. what does this mean? dr. deborah birx joins us, the coronavirus response coordinator for president trump, her best seller "silent invasion" chronicles her time dealing with this when it hit the country 2 1/2 years ago. dr. birx, very good for being here. thanks for coming. >> good to be with you, neil. >> neil: i want to get to issues that you raised in the book that crone call how you were dealing with this and exploding in real time. this thought that we're over it, that the worst is over, is it? >> well, i would remind people that we went through this last year about t

neil? neil: yeah, and it doesn't seem to stop. thank you, very very much for that, lydia, thank you stu leonard trying to cushion the blow by going in with halfs with suppliers and his own grocery chain to minimize the damage. i should point out you're hear ing a lot of companies trying to do creative things to get around this. the one that struck me as the most interesting is mcdonald's. apparently now it is looking at frequent, but smaller price increases, because it's discover ing that if you try to do it in one fell swoop, consumers will revolt and find it a little revolting. now what they're doing is having small increases but more of them that kind of echoed what we heard out of campbells, of course saying that people are kind of getting that sticker shock but it's trying to ease the blow. campbells, of course has been saying as bad as this is, and we keep harkening back to where we were 40, 40-plus years ago, not as bad as prior inflationary cycles. i don't know if this keeps up whether they can continue to say that but two

neil? >> neil: thanks, ed. that's the conundrum for the federal reserve. they're going to keep raising interest rates where you have to get the match whatever the inflation rate is. if you looked at an 8.6% inflation rate on the consumer level, you'd have to go higher with the rate hikes to come, you'll bring down the inflation rate to the point that you don't have to go that high. nevertheless, rates are going higher and consistently so meeting after meeting through the end of this year into next year. stephen gilfoyle joins us and wu -- susan low as well. stephen, let me ask you what you interpreted what the federal reserve was saying. we're going big starting out but we don't have to go big always. do you believe that? >> i don't really believe that. i found it kind of almost emboldening that he was willing to go at least a half a point the next couple meetings. they're taking it somewhat serious. the rally marketed because we got what we expected. i don't think we got more than that. i don't think this is time to invest. for the folks at home, i don't

neil, it i yours. neil: thank you, very much, stuart. we're two hours away hearing from the federal reserve has not done since the late '90s, raise federal funds 3/4 of a point. there are whispers in the "new york post" it could be a full percentage point. that might be a leap here. you know the drill, the fed responds to inflationary pressures. often time leaks information what might come and the fact that sew so many newspapers were seizing couple days ago that possibility the federal reserve could raise rates by as much as 3/4 of point. mid-them adjusting math. while unusual, would be better prepared. all in response to inflationary pressures that are building. the reason why you're seeing stocks up today not as much as they were earlier on, is this notion maybe just the throat of that, or the rising rate environment is having slowing effect right now. that, for the first time in five months we've seen retail sales slowing, actually reversing. and consumer confidence continues to tick downward here. so that is some of the latest kind

neil? neil: hillary, do we know when the president does speak, he's going to add a line or a statement about not acting out violently against justices or protests, that can sometimes turn pretty scary, of course in light of that one 26-year-old man who wanted to kill justice kavanaugh. do we know whether he will be adding that to his remarks? reporter: no, neil. that is a valid question, because even the leak at the time as you mentioned provoked violent threats against these supreme court justices and now certainly with the decision set in stone and finalized there is a big concern among all about the safety of supreme court justices. it took a lot of teeth pulling on capitol hill to get congress to actually cast safety and security for the direct family members of the supreme court justices in light of the riots or the protests outside of supreme court court justices homes, so it'll be interesting to see if that is something that the president mentions today but we'll be in that event wit

thanks very much. >> thanks, neil. >> neil: thank you.ner of wall and broad, we were up in the stock market. all of this comes at a time when many investors are saying, all right, we have order for the stock market. can we get the same in the crypto arena? we'll have more after this. ♪ life can be a lot to handle. ♪ this magic moment ♪ but heinz knows there's plenty of magic in all that chaos. ♪ so different and so new ♪ ♪ was like any other... ♪ (vo) singing, or speaking. reason, ♪ so different and so new ♪ or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything. this is the sound of nature breathing. and this is the sound of better breathing. fasenra is a different kind of asthma medication. it's not a steroid or inhaler. fasenra is an add-on treatment for asthma driven by eosinophils. it's one maintenance dose every 8 weeks. it helps prevent asthma attacks, improve breathing, and lower use of oral steroids. nearly 7 out of 10 adults with asthma may have elevated eosinophils. fasenra is desig

neil is here. neil: you are open to hate mail? stuart: yes, send it in. neil: i'm old enough to remember there was just one in new york. it was 212. people went pass particular when they took away the 212. stuart: i didn't know you were that old, neil. neil: congratulations on the jubilee. that's a good run. when people say she bravely held up. that's a pretty good gig, being the queen? stuart: itch never heard it described as a pretty good gig. but if you want to break away and be american, you can. neil: the nice homes, the real estate. i thought maybe now you are an america you look at that and say what was i so absorbed about. but that's not the case. stuart: do you have a show to do? neil: i'm fascinated about the jubilee and 75 years. i thought let me talk to stuart about this if and people saying all she had to put up with. but in a very nice van. nice environment. stuart: you can't do what you want to do. you are stuck. you are a member of the royal family and your life is prescribed for you. neil: it's one of the onuses of being a tv anchor. enjo

neil. it is yours. neil: stuart, thank you very, very much. as we hit the noon hour on the east coast of the united states, we're watching reverberation of fed chairman jerome powell on capitol hill. he is giving everyone a different piece of something here. he is cone vinceed right now he will avoid a recession here. says that it is certainly a possibility that interest rates could rise to levels that cause a recession but he is very confident that that can be avoided. he says that the u.s. economy is well-positioned to handle more rate hikes. he did not telegraph how many rate hikes there might be coming. again the overwhelming anticipation next month we see another 3/4 point hike. battle for stocks whether you see inflation still getting out of control which would lead to a big backup in interest rates and all of that. we're seeing less of that today on the interest rate front. investors seeming more convince ad slowdown, worse a recession is coming. so that put a lid on that activity. it is a confusing mess. now reports that the administra

neil. >> neil: thanks, mark. meantime, you can add marty walsh to the growing list of administration insiders and democrats acknowledging that there could be trouble down the road whether he necessarily agrees with the notion we're facing a financial hurricane if this doesn't get solved is anyone's guess. he like janet yellen acknowledging there's problems. phil wegman joins us right now. i notice when janet yellen made the comments that she botched it as far as appreciating the magnitude of this inflation problems, she wasn't on any of the sunday talk shows. i don't know if that could be a fate that marty walsh is looking at. but he too in the camp not necessary admitting any mistakes here but saying we have problems. these are big problems. >> right. peter tried to ask the white house whether or not they were going to follow the treasury secretary's lead if they also believe it was a mistake to talk about inflation being transitory. they didn't follow her lead. what we heard from the white house thus far is the

neil? >> thank you, jackie. to art hogan who has been following this for a number of decades. the national securities corporation, overall market brainiac. art, yesterday was almost a celebration that the federal reserve was getting ahead of the inflation. now people said in getting ahead of that, they push us in to a recession. who is right? >> yeah, we've gone through a weird dynamic, neil. we've celebrated the day of the announcement because it was a sigh of relief that they didn't do anything crazy. the next day we've had a rethink and a rethink today. part of today is the fact that we're not alone in this. we saw some surprise, central bank rate hikes out of switzerland. 50 basis points. talking about hungary raising rates, the bank of england raising rates. getting pretty aggressive. we're netanyahu just talk about higher rates in the united states but central bank intervention here and what is turning out to be persistent inflation. that has everyone concerned about is it possible to

neil? >> neil: all right. jackie, thanks very much. a technical definition of a recession is two back-to-back negative quarters where the economy is contracting, this quarter isn't quite done. it will be in about a week from now. the time being, it's hard to say whether the one we're in right now is negative. there's different ways of reading it. charlie gasparino really listening to elon musk and what he has been saying, a recession seems to be in the cards. that is not a brave statement. the question is when, right? >> yeah, he's said in the past they thinks we're in a recession already. elon is all over the place on this. i will say this. we have very high inflation, the fed that is committed to knock down inflation with higher interest rates. that means tightening credit to consumers and banks. you put that together, plus you have restrictions, fiscal policy out of the biden administration. i know you'll have a guest on to talk about a gas tax holiday, this is not an administration that

neil? >> neil: thanks, peter. indeed, the world's richest man said he was uncomfortable about how the economy is looking, that it looks super bad right now and as a result, he's looking to maybe cut about 10% of tesla jobs. did legal to help their stock today. so the world's richest man got a little less rich. susan li on what he's worried about. susan? >> despite the strong may jobs report, corporate america sounding more cautious than what the numbers say. for elon musk, yes, the richest man, he says he has a super bad feeling about the economy. you have to remember that musk said last week the u.s. is probably already in a recession and things will be tough going for 12 to 18 months. as a result, tesla is cutting 10% of the 100,000 strong global work force that they employ and e-mail that numerous outlets have obtained, the head count reduction. he wrote that tesla is reduced salaried head count by 10% as we have been overstaffed in many areas. note this does not apply to anybody building cars, battery packs or

>> and neil was not one of them?m through and asked some questions? >> of course. >> if you had done, that would you think you would have found? >> based on the evidence that i have seen, both from our investigation and the defense investigation as we would have cleared him some way, we would not have -- any level where he would have been a suspect. >> there was nothing to the -- story said investigators and prosecutors. the true killer, they say, was the person sitting in that courtroom. and if there were any doubts, the prosecution had a star witness. who was about to share the secret she had kept for nearly two decades. coming up -- >> i just did not feel safe. >> a former friend, turns powerful -- >> she started talking about how easy it would be to just hire a hitman, and have him taken out because he had such a predictable schedule and played golf every day. >> you sure you remember that conversation accurately? >> absolutely. >> when dateline continues. when dateline continues so i said, "yeah you're saving hu

parish scandal coming _ the day of the neil parish scandal coming out sol the day of the neil parish — coming out so i knew from day one that it was going to be a baptism of fire and _ that it was going to be a baptism of fire and so— that it was going to be a baptism of fire and so my entire time, managing everything. _ fire and so my entire time, managing everything, has been this by—election sol everything, has been this by—election so i have been out covering — by—election so i have been out covering and doing newspaper and the by—election. thrown into this political, _ by—election. thrown into this political, like, national story that ikirid— political, like, national story that i kind of— political, like, national story that i kind of wasn't anticipating and i don't _ i kind of wasn't anticipating and i don't know— i kind of wasn't anticipating and i don't know if i was ready for. i think— don't know if i was ready for. i think i'm — don't know if i was ready for. i think i'm ready for it now but it is kind _ think i'm ready for it now but it is kind of— think i'm ready for it

. >> neil: all right. you're watching the fifth hearing this month, the sixth in all the you count the last opening hearing back last july almost a year ago from the january 6th committee. this one focusing on how president trump at the time tried to manipulate the justice department. as one of the witnesses said, to do his bidding on a rigged election and whether that -- forcing that view was in itself pressuring justice department officials to go along with president trump's argument at the time that the election was rigged and that votes were stolen and to -- again, these are former top justice department officials who were going back and forth with the president at the time to say there was no there there. there was no ill legality being committed here and they couldn't sign on to what got up to be ramped up pressure on mr. trump to replace the acting attorney general. but those in the room would not go along with those plans. just some of the inkling of material and information we're getting from this

this is astronaut neil armstrong command pilot for the apollo 11 moon landing mission. what is the purpose of the apollo 11 mission apollo 11? is man's first attempt? and straight the ability. you go to the moon. land there and to return to earth what are your responsibilities as commander of apollo 11? well in in general the responsibilities the commit the onboard decisions whenever they're required and to oversee the performance of the duties of all the crew including himself you know in this particular case. i participate in this procedures on board the spacecraft as well as oversee. those of my fellow crew members and the specific tasks that i'm charged with the performance of include the monitoring of the launch board procedure. should they be required manual flying of the booster? should that be required? and taking my turn at on. watch in a normal monitoring of spacecraft. systems and in the command module in the lunar module charged almost nearly equally with the lunar module pilot in the operation of lunar module systems. and control the vehicle during descent