if you're in the state cutting price it's a national price. again they ultimately prevailed but that cast doubt on how state laws in the absence of federal law can address those problems. >> thank you. doctor mabud, each week either from small businesses continue to face an uncertain future while corporate executives and shareholders enjoy record profits. how would a federal price gouging law benefit small business owners are still fighting to overcome loss. >> it's critical to take on bad actors that still support small businesses. some in the market that are most affected by price gouging our us steel, they recently reported they are raising prices that go beyond their costs. imagine that on your bank account when a small business owner sees their profit margin spike and even though they're not behaving badly, having the cost passed on to you. they are getting crushed by corporate price gouging more than consumers are. >> thank you, i yelled back. >> did the gentleman yields back. thank you mister cardenas for caring and now mister guthrie.

federal price gouging law in reports of price gouging. as members of congress consider efforts to stop price gouging it's worth examining state laws where a federal statue would be useful to protect consumers. there's a wide variance between definitions and applicability. the lack of a federal law, the inconsistency or laws in the states, combine with online shopping has created gaps and protection from price gouging and led to a potential for state laws to be ineffective of addressing that online. it takes advantage of people that are most vulnerable and desperate. it should be in place as soon as possible to help stop price gouging now so when the next emergency, big or small, does not result in the exploitation we have seen in the last two years. during emergencies people are scared, desperate and in need. there's no excuse for the most profitable companies preying on consumers. thank you again for this opportunity to testify on this important topic. >> thank you very much. now, ms. frash, you are recognized for five minutes. >> good m

it doesn't mean the lowest price, but a means really good prices or good value.o a lot of the retailer said they weren't going to be promotional are going to be forced to be promotional again. and it also means the consumer starts to think twice before they make any purchase. so all of those luxuries and all of those impulse purchases now become a purchase that has to be thought about and become necessities. and we start to think about, what are we buying and how are we going to buy it? where are we going to buy it? and the frequency that we're going to buy it. during the pandemic, we were buying product on a much faster replenishment cycle. you might not have needed a new tv, but you went out and bought it because he wanted a bigger, better one. that's not going to happen as we enter an inflationary period of purchasing. and we see this kind of slide back with the ability for funds to be spent, that's what leads to kind of a recession like behavior. you're thinking before you make those purchases. you're not just buying without regard. caroline: may be more cons

gas prices are going to go up and down as they always were. this is a global price. what we can do is make sure that the american worker has the best earnings opportunities that they've had in generations. that is -- >> sandra: i think people hear no plan. that's worrisome. again, with due respect, i don't mean to cut you off but i asked a simple question. what is the white house planning to bring oil and gasoline prices down for the american consumer? >> i'm giving you what i believe is a simple answer. we got here with less than 1% vaccination rate. we said we're going to make sure that we get the vaccination rate up to 75% for adults where it is right now. make sure that checks and pockets and shots in arms gets to the other side of this crisis. we had -- i don't hear you talking about this. i'd like to hear it. we had gdp growth of 5.7% real inflation adjusted. >> sandra: i said it could be higher if we actually got out of the way a little bit. i certainly acknowledge that growth is good. >> that's the highest growth rate in 40 years. you're pulling out one globa

price: u.s. policy is focused on finding a diplomatic solution to this, not only to bring about greater levels of stability and security in yemen but to put an end to or to alleviate the humanitarian emergency affecting 16 million yemenis. part of that is due to long-standing factors but part of that is due to what we are seeing on the ground in terms of these offenses. this is a question of international peace and security, eight question of humanitarian concern and something that we are intensely focused on. >> [inaudible] sec. price: we discussed it in this room last week. the president has noted that it is a tool under review. i don't have any updates to add to that. >> north korea launched its longest range ballistic missiles. with each launch we have seen this year, you have issued the same statement condemning it and calling on them to talks. are you alarmed about this spate of missile launches? sec. price: we have made no secret about our concern, the concern that we have had, that we hav

i welcome any effort that means lowering drug prices. giving medicare the power to negotiate drug prices and giving virginians peace of mind is worth our time. capping the price of insulin so that kids can be kids and not worry about der is worth our time. holding drug countries -- companies responsible for the price of cancer drugs is worth our time. lawmakers have spent a lot of time talking about lowering drug costs. we know the people are behind this push, but need to get it done. the virginians with us today have their stories. congress needs to demonstrate that we are not just listening but delivering. i have the honor of introducing one such family with a powerful story. shannon davis is a dedicated teacher here with her son joshua. josh what is one of the bravest constituents i have government -- have ever met. he calls for changes to practices of drug middlemen and speaks out on behalf of kids with type one diabetes. if we all displayed the leadership of joshua, we would be able to tackle more challenges than prescription drugs.

price index reached an all time high, increasing 65.8 percent from 2020. meanwhile, the serial price index reached its highest annual level since 2012 rising 27.2 percent. but the biggest gainers were mayes up 44 percent on wheat. gaining just over 31 percent. the sugar price index rose 29.8 percent reaching its highest level since 2016. the dairy price index averaged 16.9 percent higher than in 2020 the meat price index was broadly stable in december, but rose 12.7 percent through the year as a whole. well, they f a o says soaring speed prices, a hissing low income household hard and poor populations. and countries that are reliant on imports are particularly at risk. it's fee that the high cost of food could fuel unrest in some parts of the world, like middle east and north africa. and the growing concerns about a hunger crisis in countries affected by conflict and drought on top of the rising cost of living. when it all appears to be bleak, let's get more into the global food situation now with maxima to color the chief economist, assistant director general of the economic and soc

that will be to see what happens to gas prices and energy prices across europe, as we had into the fall in the winter of this year. and how long this last because one thing that was said through the midst of all this is that president putin has promised to not restrict the amount of oil that's been promised to european countries. he's going to keep that coming in. that's what he says. i think he probably will do that. the question is, what will the price of it be and how will that price impact germany and other economies? remember, germany gets half of all of their oil directly from russia, and all of europe gets about 40 percent of their natural gas from europe. and that's the primary way by which they, they heat their homes. so it will be interesting to see how this plays out, how the u. s. gets involved and whether or not other countries like cutter get an opportunity to get involved in this space as well. and certainly for those civilians who have just gone through this incredibly tough winter with skyrocketing energy prices. they don't want to be looking at another one. now profess

so the prices you're seeing them 1st of the gas and there's prices to pay with presidential poles. and then finally, the ballot box. don't forget, you've also got maybe $1520.00 of geopolitical fear, premium in that $90.00 to $95.00 range of fluid. and you know, it's interesting because that is something that divide in ministration is going to face because american look at it. the most is how much am i paying for food? how much am i paying for gas because we are. so oil relied here, and that's going to be a big issue coming up in the mid term. then of course, in the years to come now, christie, even though opec class members agreed to pump an additional $400000.00 barrels per day, some of actually struggled to meet that quarter. how much is the overall lack of supply playing a role in storing prices, right? now, lack of supply is a huge part of the story and someone said the main part of the story, seeing as world oil demand growth is pretty much unchanged for 2022. demand is expected to rise to pre panoramic levels in the 2nd half the year. so it's not like there's a huge influx o

so when they are responsible for retail gas prices. >> the prices have no bearing on the price of fuele pump. and it is a dominant factor driving the price of fuel is the price of crude oil. and with government agencies and other modeling and what's really important to understand is the role of biofuel to bring down the cost of biofuel for the consumers and the price of the 15. and that is a 10 percent blend, some choose an ada octane when they have a little more ethanol that brings the price down at ten sense for gallon. and then you can buy 0 percent ethanol then you have a premium not to have ethanol so most assuredly to bring down the cost of gas prices. >> and it is impressive of more than 15 years ago and my understanding is that under the last three administrations and numerous companies are on public record refiners are downstream and not doing harm by the amount of money. can you help us to understand despite the argument of big oil oil refiners have managed to purchase and stay in business quick. >> thank you for the question. with the refiner flexibility how they demonstrate

retail gas prices? >> thank you, senator, and yes, those are false claims. so the price of the rin has no bearing on the price of fuel at the pump and that's entirely separate markets and the dominant factor, driving the consumers at the pump is the price of crude oil in addition to supply and demand. that's something affirmed by our government agencies, and other modeling and i think what's really important to understand, it's the role of biofuel in bringing down the price of fuel for the consumers and the evidence today is the price of e-15. so consumers of 31 states today. they can go up to the pump and they could put in standard 87 that's 10% blend. some of them could choose 88 octane, that's a 15% blend. when they have a little more ethanol that brings it down, they're saving up to 10 cents per gallon and there are also stations where you can buy zero percent ethanol. a premium not to have ethanol. and biofuels like ethanol help to bring down the cost of gas prices. >> thank you, and how does big o

if you look at the recent numbers that we got to about producer price is consumer price and there is no sign that price pressure, it's easing and having that set. i mean, we have this problem, a problem with the balances of the imbalance of firm supply and demand. and if you look at the supply side, so maybe it's some issues with the supply chain to might get solved or might get better in the month to come. but if you look at wages in the united states for intern also energy prices, it looks not so much that we will see some eating there any time soon. i mean one new figure. so retail says in the us to buy 3.8 percent in january, help me out with this. is that because price is arising despite it? well, i have to tell you both. i mean on one side, definitely that price is increased. was one reason why retail sales are up by a huge amount of for 3.52 or 8 percent. those numbers are not adjusted for in plate inflation. so it things get more expensive if you buy the same amount. in general, the retail sales figure will pop up, but actually the sales numbers increased more than what we've

the question is, what will the price of it be and how will that price impact germany and other economies? remember, germany gets half of all of their oil directly from russia, and all of europe gets about 40 percent of their natural gas from europe. and that's the primary way by which they, they heat their homes. so it will be interesting to see how this plays out, how the u. s. gets involved and whether or not other countries like cut or get an opportunity to get involved in this space as well. and certainly for those civilians who have just gone through this incredibly tough winter with skyrocketing energy prices. they don't want to be looking at another one. now professor got 3. speaking of those civilians, i mean we're talking about really a host of sanctions here. first, it started out with the u. s. targeting those 2 republic republics and eastern ukraine. and now it's gone on to now target russia. and now we know that when it comes to things as a typically hit civilians, the hardest. so what kind of an impact are these measures likely to have your well, if we're talking about, i m

price gouging means americans facing possible choices.efill your gas tank, or refill your prescription medication? get life-saving meds, or keep a roof over your family's hads? -- head? when alec smith's mother testified before congress, she said this should never happen. and i am counting on all of you to make sure it does not happen to another family. that is why last fall, we rolled out a plan for lower prescription drug prices through real competition, negotiating for the best price and sparking new, innovative treatments. our work isn't finished, and it takes all of us. because we know health care is not just about mending bones or dispensing pills, it is about getting people peace of mind. so, thank you, president biden. thank you for keeping your promise to make health care more affordable and forgiving americans a chance to secure the peace of mind they deserve. of course, none of our progress would be possible without strong leadership in congress. that is why i am proud to introduce our next speaker. abigail spanberger came to c

and used a vehicle prices were at near record levels.ars are going to be expensive for a while, but we might be seeing a bit of a relief and a peak for the phenomenon. taylor: talk to us about new vehicles. 9.8% as a three-month change. 12.2% as a 12 month change. have consumer started to push back and say you know what, i'm going to wait six more months before i buy this car because maybe they are not willing to pay a 12% increase year-over-year? david: some certainly are, no question about it. the problem is a lot of the people that use to look at new cars during times of strong economic activity and higher pricing would go to the used slot and can't now, there's not a lot of used inventory. people are priced out of the market and it has been going on for them -- as a macro trend for quite a while now, even before the semi conductor shortage cut the supply of vehicles. they were getting more expensive, you had more gadgets and content driving prices up. automator's have gotten rid of the small contact -- compact cars and people getting

the electricity price rises have risen by more than 300%.— electricity price rises have risen by more than 300%. the idea is by making it more expensive - by more than 300%. the idea is by making it more expensive to - by more than 300%. the idea is by| making it more expensive to borrow it will call down the inflationary temperature. a rate rise looks a lot less scary when you look back in time. it is important to put this historic rate rise in its historic context. if you look back in the early 90s, rates got above 14%, then after the global financial crisis they dropped to what is supposed to be emergency levels of 0.5% and they stayed there ever since more or less, dropping and rising just a little bit. the markets are now predicting the official will get up to one percentage point byjune, the highest it has been for 13 years. it is the first time interest rates have risen twice in a row since 2004, but that is only because since the financial crisis they have been at emergency lows. it is your energy bill, not your mortgage bill that you need to steal yourself most to open. andy

price . and it does getadjusted by pei . that's something that but this whole conversation is i think worthy and it would be helpful or at least for this supervisor if you all have the opportunity or if we give you this authorization we were something in their or meat on the record agree you were to come back on an annual basis and inform us how the flex pricing isgoing, how often it was utilized . what kind of rat and to your point, how free admission is impacting the overall service and usage in these areas of nonresident veterans and san francisco residents? it seems like there's a way to get this without slowing it down further andworking within the framework of flex pricing but asking for additional information . that would be my recommendation to supervisor chan . i don't thinkhaving a set price and not the ability to adjust that price is the right way to go based on what i heard today. >> we are happy to submit a reportto the board annually . with inflation and to the bla as well . so

what is effect prices? yes, it's pretty important, it's not a complete game changer, but if there was a deal, iran might over the next 6 to 9 months, bring back a 1000000 barrels a day or. busy so of it's which production of bell sell freely to the consumers other than china, which is on the market at the moment that might drop the price by now $6.00 to $8.00 per barrel. busy at a guess. so certainly makes a difference, but it's not know that the game. all right robin males, chief executive of command energy. thank you very much for the moment. we'll be talking to you a bit more in just a few minutes like you. but what does all that means for consumers and the wider economy? to discuss this, i'm joined by our 2nd guest, tim hawk. it was professor and chief economists at the institute for public policy and governance at the university of technology, sidney team. thank you so much for being on counting the costs. so high prices we know affect consumers. what is the impact on everyday life? well, of course the

that in order to get interest rates up bond prices have to go down and then stock prices go down thiss not terribly complicated but we use polite language saying tightening financial conditions. >> all right guys, thank you very much. the topic of the year. paul mccully with with steve liesman. >>> home grown costs more money to build and buy your house and furnish. no price like home series tus.luh"s when "power nc rern (rhythmic electro rock music) (crowd cheering) - bito, bito, bito, bito! - [announcer] bito, the first u.s. bitcoin-linked etf. at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. hey businesses! vanguard. you all deserve something epic! so we're giving every business, our best deals on every iphone - including the iphone 13 pro with 5g. that's the one with the amazing camera? yep! every business deserves it... like one's that re-opened! hi, we have an appointment. and every new business that just opened! like aromathe

president can do to control prices. there's a lot that the administration can do to expand alternative forms of energy and to utilize the additional ones. in every term year, we are seeing this administration trying to shut down, not only the existing energy that is out there, but to close other pathways, like the keystone xl pipeline in a time where energy prices are skyrocketing. it is in home heating costs, adding onto the inflation records with, prices rising, food prices rising, just across the board. americans are filling this pinch. every turn, the government policies that have been enacted are making things worse instead of making things better. set up driving this inflation, there need to be responses that are trying to fight the inflation. that really involves the government moving in regulations. i think we should really take it from president carter when he was faced with really hot inflation. he said look, we got to reduce the budget deficit. we have to limit the size of our federal workforce and eliminate

you predict prices will be coming down? at you predict prices will be coming down? comin: down? �* ., coming down? at the moment we don't in context _ coming down? at the moment we don't in context of— coming down? at the moment we don't in context of this _ coming down? at the moment we don't in context of this year, - don't in context of this year, our price estimate for the next period will be announced at 11 o'clock today and that is £1924. it is early in the observation window for the formation of the wholesale price component to the next price component to the next price that will land in october but as things stand we're talking about £2300. that is because gas across this year is trading at about 100 and 80p. the cap we see announced today we have only got gas at 100 and 28p so directionally we think in october, unfortunately, prices will be rising again. we shau prices will be rising again. we shall keep _ prices will be rising again. we shall keep a _ prices will be rising again. we shall keep a close eye on any announcements today. martin, thank you. that

it will also go up there for 3 on each link to energy prices and oil prices, which they increase. he creates a demand for biofuels, and the input for biofuels guns from staple commodities. and he's also being used for i'm finally on his truck for reason in adverse weather. and we have seen, i'm far what i will weather in the last month, which have affected some key producing countries. and these includes that means whether phenomena which went on i was 2022, i presented $21.00. so there are all these drivers that are behind the prices that we are observing today. okay, we'll talk about the weather impact in a minute. first, let's talk about energy prices in fertilizer prices, which are high and continue to remain high. what is this going to mean going forward for fee price as we continue to see the impact on production as a result? different license prices cost reason, substantially, and higher during the last a big deal of 22008. and these higher for the laser prices in turn reflecting higher energy gas prices on export restrictions, and your political pensions with the high up p

oil price is another risk, wage price spirals is another one. >> we'll be talking about both of those things a little later in the program steve, thank you very much >>> in spite of the inflation concerns on the exchange last hour, the legendary investor bill miller from miller value partners said he's finding a lot of opportunities in the market and thinks stocks could rally from here. take a listen. >> governor bostick was out today saying that he thought that inflation would be around 3% by the end of the year. if that is correct, then i think stocks will be a lot higher. i also think that what i'm watching mostly is inflation expectations i don't think the headline inflation numbers mean much at all. it is inflation expectations and the 30 year is not telling you where there is any worry there those prices could be wrong. but i'm looking at inflation expectations and not at headline numbers. >> let's get some reaction from cheryl pate, portfolio manager from angel oak capital advisers. good to have you with us i see that you basically agree with bill miller and with rafael bostick

is it all of you charging these prices?— these prices? there is certainly _ these prices?here is certainly an increase l these prices? there is| certainly an increase in charges across the board but the ocean element, if i can put it that way, through the demand already mentioned, being so in excess of supply has driven up the cost of shipping for example from asia to europe about 12 times and we are seeing rates which were simply unimaginable in the past. this is not a sustainable nor a healthy situation in the long—term. healthy situation in the long-term.— healthy situation in the long-term. healthy situation in the iona-term. ~ ., ., , long-term. what do you see happening — long-term. what do you see happening next _ long-term. what do you see happening next to _ long-term. what do you see happening next to try - long-term. what do you see happening next to try and i long-term. what do you see i happening next to try and ease the congestion? irate happening next to try and ease the congestion?— happening next to try and ease the congestion? we did not know the congesti

and wages rise a lot, then we could end up in a wage price by ra, a lot higher prices that keep on rising a big problem except in this sector, luxury goods follow different rules. the demand for a product tends to be highest when it's cheap. if its price goes up, fewer people buy luxury goods are an exception. a product can become even more attractive precisely because it's highly expensive. the effect is reinforced if it's also particularly hard to come by. why is that? we also have to look what would be considered as maybe perceived scarcity. so if something is scarce and it is luxurious and it is expensive than i wanted more, because less people can have it. so if i have it, and i show people, if i, i mean i attain almost like a higher social, a higher social status when, when i get my hands on it. handbags like this cost several $1000.00 euros status symbols. but not just that. some people invest in them, hoping prices will keep rising, then they could sell the bags on at a profit. expensive cars, designer clothes, fine art. some people choose to invest their wealth and assets like th

, in oil prices.i: we are definitely hope that we don't find ourselves in that scenario. i want to bring us a quick line. china warning iron ore against speculation and hoarding as we see iron ore prices tumble. trying to combat inflation there. so many moving parts for commodity companies, energy companies. for those that you are advicing, what does preparedness look like in this environment? >> it depends because people are focusing only on what's going to happen immediately. this is where you see a lot of the fear factor or if you want a translation of the risk premium though nobody knows what it's going to factor in. others take a more longer term perspective and believe that geo politics are likely to ease the pressure especially that you have additional supplies are expected to hit the market but really from the second half of this year -- it's surprising everyone, right? just after a year almost -- just over a year with people off. it's coming back. we're going to see even more pronounced next

but prices are highly elevated. we have an active agenda to try to ease price pressures.es artwork at the ports, i work with trucks, our work on energy. getting domestic chip production up and running, making sure people have access to child and elder care. an active agenda we have to keep pushing on until these hot prints begin to fool -- begin to cool. guy: many would argue fiscal policy is a key contributing factor to the hot print we have right now. why are you still pushing more fiscal into this economy that is already running hot? jared: that is a totally fair question. the answer is we are not if you look at the net. what matters in terms of the fiscal and monetary policy on growth is what we call the fiscal impulse. it is not how much you are doing on its own, it is how much you are doing relative to last year. fiscal impulse in 2022 is a big negative. the government is doing much less to juice growth in 2022 than it was in 2021. if you're talking about our agenda like the competes act, which is a long-term investment in domestic chip capacity, if you're talking a

all the ingredients are going up beef prices, avocado prices.re able to pass it on >> they are, and i think they have the advantage, too, of a customer that was not completely hooked on rock bottom value fast food they always were traded at a premium in terms of their menu, and also they paid more than minimum wage over the years too. if you're worried about those dynamics affecting the sector, they're probably better positioned stock also is 25% off its high it really was one of though pandemic beneficiaries people did hide in that stock because they were managing to do good things even as the pandemic raged and transferring to drive-through. >> why did it go down so much, because it was such a winner >> it got sort of bound up with a lot of, you know, the great growth stories that people extrapolated too much from and it's pulled back you could point to starbucks at one point had a hiccup in this regard as well i do think it can rebuild from there, and you're seeing this 1560 is an interesting spot, though it does not get them back anywhere ne

what it would do, prices is a panic in the market.rices are as you -- not far from $100 a barrel right now and if you have the world's two of the three leading oil producers at lugauger heads with each oth then you see tension. >> we have of the course of say five, ten years seen conflicts targeting oil rich areas we used to look at africa, iran, iraq i remember oil spikes higher and think it stays higher but fades a little bit more. how do you liken this particular scenario, the catalyst by russia and ukraine versus the assassination of soleimani how does this rank >> the difference we can compare to 2019 when missiles and drones attacked the world's largest oil processing facility in saudi arabia and the market hardly moved. what's different is that the market is tight going in and even if we didn't have the crisis going on this would be a tight market if iran comes back init would modify it somewhat you are quite right. seen oil to 100 or $137. it doesn't last because of what it does to demand, to fuel switching and so forth what m

i think we're getting stuck on the word flex pricing . it sounds like at the end of the day there's not that much difference but i do think it's important to move the agreement forward and allow this process to begin . there's work that needs to be done at the sites. there's renovations,there's new updating . i think there's just a lot of work that needs to happen and i think it would provide the time tocontinue that conversation with the department . ithink that you've done good work . you. and on the prop j requirements and checked in on looking for conflicts and decks with regard to other organizations. but this seems to be a well thought out proposal other than the fact that it seems like you just don't like flex pricing and i understand that and respected but really think that at this point we should move this conversation forward personally and respectfully. >> chair: supervisor chan. >> i want to quickly respond to that nonresident aspect of it. i think that for this reason is this, to think about economy recovery that is equitable

i am 'ust wondering, why are the rices prices. i am just wondering, why are the prices of — prices.the prices of jam _ prices. i am just wondering, why are the prices of jam going _ prices. i am just wondering, why are the prices of jam going up _ prices. i am just wondering, why are the prices of jam going up as - prices. i am just wondering, why are the prices of jam going up as much l the prices ofjam going up as much as they are at the minute? the prices of jam going up as much as they are at the minute?- the prices of jam going up as much as they are at the minute? there's a number of things. _ as they are at the minute? there's a number of things. shipment - as they are at the minute? there's a number of things. shipment costs, | as they are at the minute? there's a l number of things. shipment costs, so getting _ number of things. shipment costs, so getting the _ number of things. shipment costs, so getting the raw materials from around — getting the raw materials from around the world to the uk, that's a massive _ around the world to the uk, that's a massive part of it. it's

michael: service prices are up 4.6% while durable goods prices are up 18.4%.ill buying more stuff than we are services. the question is when did that change? maybe it is changing in february ? maybe is changing with the mast mandates going away, people feel better about going out to get a drink at tom's local hotel. for right now it is the amazon delivery guy that has pushed the prices up. tom: inflation-adjusted weekly, average hourly earnings have now fallen below the depth of 2008. we have a more negative weekly paycheck than we did during the financial crisis. as bloomberg economics points out, we have a huge rise in average hourly earnings earlier in the pandemic. we seem to be giving that up. michael: early in the pandemic you cannot use those numbers because of the composition affect, but we are seeing people get raises and that is making a difference. it is still negative, real average hourly earnings of 1.7% in january -- down 1.7% in january. you are below the level of inflation. but they were down 2.4% in december. that is one trend better than some

talking about price gouging and things of that sort. now that would make things potentially even worse. so if the fed continues that monetary policy, but the bide ministration caught them, signs of price controls, be it for oil or housing, or wages, or whatever they try choose to do or needs or that they even talking. that is going to make it very difficult. corporations turn a profit and it's going to lead all sorts of shortages. so things could get worse still if the bite ministration jumps in and says, i can willing to put a break in place. now i'm gonna do that through price controls that, that has me very worried. yeah, there certainly is. a lot of day care back. great inside of though is i'm are in the and i go and thank you both for your time and for breaking all of this down. we're thank you. and finally, after microsoft made a nearly $70000000000.00 deal to purchase, activating blizzard rival and playstation maker, sony has entered an agreement to buy game developer bungee best known for creating games in the halo and destiny f

prices for gasoline. so transportation costs for infants are also hitting companies . they respond to the higher costs with price increases. by the way, we, for example, heard to just here on thursday from coca cola that they are reacting to higher cost with higher prices or have already done so. but in general, also food prices are brand are ca, prices are up. so there are many factors. so us, president joe biden has tried to lower oil prices, for instance, with opening up the strategic reserves. but that has not really done the trick so far. so yeah, everybody is waiting for prices to come down eventually, but we don't know precisely when and by how much we have one of the big questions after this data is will it force the federal reserve to speed up its plans for removing stimulus from the economy i've heard some pretty crazy projections from economist after the data today, some saying they can raise interest rates in the coming days. will we see a much more aggressive federal reserve here? yeah, sure.

when gas prices go up. they blame the president and of all the prices in the economy. the one the president probably has the least influence over his gas prices. they're set in a global market, and it's just not much you can do. i'm, you always are trying to do things, release oil from the strategic petroleum reserve, for example, you know, gas tax holidays, another one of those. maybe it would lower prices by $0.12, maybe a month later, prices would have made up for all of that. and i'll be up even more so i think it's something that sounds good when you propose it. he actually did, it probably wouldn't be received that well. i hope they don't do it. but, but i get that they're under tremendous political pressure through no fault to their own for the global oil price. you know, i know that these problems are very complex and i read you and i know that i'm and ask a simple minded question though in this because it's something that's been lurking in that, you know, this may be a naive one on my part. but aft

gas prices higher for longer. be a factor that could keep gas prices higherfor longer.th this issue alone. fiur deal with this issue alone. our economics _ deal with this issue alone. our economics editor, _ deal with this issue alone. 0ur economics editor, faisal islam, thank you. if you have any questions about today's announcement on energy prices, you can find more information on the bbc news website. the chancellor, rishi sunak, has told the bbc borisjohnson has his full support, but acknowledged controversy over downing street parties had damaged the public�*s confidence in the government. he said he believed the prime minister had always told the truth about parties held at number ten. mr sunak also dismissed talk of replacing mrjohnson as conservative leader, saying he was focused on his currentjob. he's been talking to our political editor, laura kuenssberg. everyone pays the bills, everyone will face the cost. but why is the chancellor offering taxpayers help from the bottom all the way to the top? with respect, you don't need an extra £200 to help with your bi

price: two points. prior to the onset of this needless war, we had made a genuine good-faith offer together with our allies and partners to discuss with the russian federation certain areas where we thought we could make progress on a reciprocal basis. these would have been discussions about, just as you said, broader european security architecture. the placement of offensive missiles in europe. arms control protocols. arms control agreements. steps when it comes to stability. transparency as well. that was very much on the table. the russian federation again engaged in this pretense of diplomacy with us. there was an exchange, as everyone knows by now, written proposals, written responses. there were high-level meetings. all of which culminated in the russian invasion of ukraine, perhaps an invasion planned all along. that is not our near-term priority. our near-term priority for diplomacy going forward is to bring as quickly as possible an end to this needless violence, this brutality that the russian

i wouldn't chase price right? buy weakness for sure, but i think equities will be okay through this a big appropriate adjustment. >> appreciate you putting a point on it. ending there really great to have you both here barry and michael. >>> quick programming note nec director on "closing bell" at 3:00 p.m. wit administration's response to this morning's inflation data. >>> a news flash on the housing market, where mortgage rates reset to a key level diana olick has the latest numbers. >> kelly, just got today's new rate on the 30-year fix from mortgage news daily. take a look. crossed to the 4s. 4.02% to be exact. a 12 basis point move higher in just one day rates don't unusually move in double digits day to day reaction to the cpi report and result jump yield on ten-year treasury mortgage rates loosely follow that by comparison rate now 122 basis points higher that it was a year ago when it was at 2.8%. significant purchasing power lost for home buyers right on the cusp of the earning season buying median priced

jack: historically the saying is that your for high oil prices is high oil prices. they pump until it is unprofitable. they are not going to do it this time, people at the pump wish they would. markets fluctuated wildly in response to rush at the invasion of ukraine but how could a drawn out war (vo) for me, one of the best things about life is that we keep moving forward. we discover exciting new technologies. redefine who we are and how we want to lead our lives. basically, choose what we want our future to look like. so what's yours going to be? do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some research and called coventry direct. they explained life

i welcome any effort that means lowering drug prices. giving medicare the power to negotiate drug prices and giving virginians peace of mind is worth our time. capping the price of insulin so that kids can be kids and not worry about der is worth our time. holding drug countries -- companies responsible for the price of cancer drugs is worth our time. lawmakers have spent a lot of time talking about lowering drug costs. we know the people are behind this push, but need to get it done. the virginians with us today have their stories. congress needs to demonstrate that we are not just listening but delivering. i have the honor of introducing one such family with a powerful story. shannon davis is a dedicated teacher here with her son joshua. josh what is one of the bravest constituents i have government -- have ever met. he calls for changes to practices of drug middlemen and speaks out on behalf of kids with type one diabetes. if we all displayed the leadership of joshua, we would be able to tackle more challenges than prescription drugs.