senator murray wanted to breach them with no plan to replace that energy at a time when we're heading into recession with energy costs going up. our dams are essential to our economy, to our farmers into our families all over washington state. >> it's important to know that salmon is part of our economy, it's part of our culture, and part of our tribal obligations. we have a responsibility to solve the declining salmon population. i've worked hard at the federal level for us here in the pacific northwest to make sure we have the resources to do it. every year i fight for the pacific coastal salmon recovery fund that allows us to restore our echo system. he to make sure we have the funds to fix the culvert that often occlude salmon from going back upstream and spawning. we now are starting to rebuild those and that's a critical part of this. we're working make sure we do everything we can to save our salmon. there was a question about whether we should remove some dams. i talked to stakeholders from every part of our state, from utilities to tribes to users of the river, including transportation, and we do not have in place

going to be all about the banks and profits. over diagnoses hanging the whole thing is the growing threat of recession. take a look at energy prices, yup, still going up. the price of gas closing in on well oil is at $92.49 this morning. gas closing in on $4 a gallon, you're at 3.91 now. california by the way they caught a break. their average price for regular dropped to 6.33. diesel, this is important, as predicted has hit the $5 level. 5.06 is the average now and that's up $0.20 in a week. dreadful news from ukraine. a humiliated putin is firing rockets at civilian targets and power plants in kyiv. wave after wave of incoming has been hitting ukraine's capitol. putin wants revenger for the destruction of his pet project that crimea bridge. we're waiting for a white house response to putin's terror. in new york, two teenagers shot outside the home of gubernatorial candidate lee zeldin. this happened in the quiet suburbs of long island. this highlights the crime issue four weeks to the elections. also in new york, migrants bus sed to the city from the border are going to houses knocking on doors asking for food and clothin

going to recession. and then of course, there is big energy package, capping the price of energy, so that the average household will only pay $2500.00 pounds instead of what would have been $6000.00 pounds for the gas and tricity. so there is some help and from this economic and political turmoil that we've seen in the u. k as a result of the tax cut plan. it's rock the country, but try to help me understand why should anyone outside of the country care about the instability in the u. k? well, i think 2 reasons. one is even though the u. k has left the european union, it is still a very big economy in europe and still does a fair amount of trade with other european countries. so what happens in the u. k, i think, does matter. there's also this question, i think of contagion. some people worried that if the economy of the u. k, runs into trouble, then we could find that that actually causes a ripple effect and other economist. and then i suppose the reason the reason which is well teach is on the government that you simply cannot. now go into a situation where you make tax cuts, which are completely on funding.

going into recession. today, the biggest danger for industrial companies is the extreme rise in energy prices, which unfortunatelyconsequence of the failed sanctions policy of brussels, so we must help companies ensure the sustainability of their energy supply in the long term and be able to bear the corresponding costs. german business shows maximum debt in history of the country about the 150 largest companies that are traded on the local stock market for the year the figure rose by 20%. according to the calculations of the newspaper handelsbulat. now it exceeds 530 billion euros. more than a quarter of this amount is almost 146 billion. one of the leaders in the field of telecommunications falls entirely on the growth of key rates, new loans are becoming more expensive and many are already planning to sell shares in order to pay off at least 25 companies, now there are even more debts than capital. at the end of the issue, let me remind you the exchange rates for today dollar 61 rub. 19 kop. euro 59-83 on this that 's all for now. it's always interesting how it all starts. now you will see everything manufactu

not systematic yet but if it really gets ugly, of course, then with the energy challenges in europe and we going to deep recessionat becomes global like we had in 2008. then, of course, all companies over time become effective. the good thing about private eye. 0-- -- private equity is we are not under pressure to sell anything, when the economy turns that we work on innovation, driving r&d, building acquisitions and extending ownership. francine: thank you so much for all of your thoughts, christian sinding, chief executive officer and managing partner at eqt. we will be speaking to vanessa late chief executive about earnings -- vanessa late -- the nestle chief executive about earnings in an exclusive interview at 9:30 a.m. london time. this is bloomberg. ♪ tom: welcome back to the open. 52 minutes into the european trading day. stocks lower .1%, a feature that i'm the u.s. pointing to gains of close to .4%. neel kashkari saying you could see rates above 4.5% if core inflation doesn't come down. let's return to our top story this hour, u.k. consumer inflation coming in hotter than expected, september cpi heading

talking about energy going into recession. crude $90 a barrel. lisa: other people agree with her.nings, they are leading the charge. i want to pick up on our point about banks and building reserves. there was a point out theoretically about banks that may have committed -- jonathan: a theoretical report? lisa: may have financed elon musk's twitter acquisition. some have it being $500 million based on where they prized things out in april. if they sell all of the debt they promised to finance. jonathan: jp morgan is next friday. for that, morgan stanley too. i think we have to discuss it. we will do that next week. goldman was on with us yesterday and talking about the defense you could play in the european banks. they have been more defensive than perhaps some people think. did you see the story from the ecb this morning? the european central bank ratcheting up pressure on banks to keep 2022 bonuses in check amid fears on the darkening economic outlook. that is the ecb and what they think about banks going into the downturn. lisa: credit suisse is buying back bonds. head of, you k

many fear that europe is either in or near a big recession, because of the war in ukraine, because of soaring energy costs there, and that going to cause problems here, because europe is one of our biggest trading partners. >> any bright spots here, matt? >> definitely. not all recessions are created equally. fitch is fought calling for a economic meltdown like the last two recessions. you know, one way to think about how severe a recession is, is by looking at how much the unemployment rate goes up, and during the covid recession of 2020, we saw this massive increase of more than 11 percentage points for unemployment rate. more than 5 percentage points during the great recession, but fitch is calling for something more like that 1990 to 1991 recession, which was considered relatively mild. now, we don't want to minimize any job loss. right? anyone losing a job is painful, but there are some reasons why the next recession could be more mild. the jobs market is strong. consumer finances are pretty solid. people don't have quite as much debt as they have in past recessions. there's no epic housing glut like the one that precede

recession also dooming in, in europe. as an energy crisis, we have food, crisis of prices are going up in the initial inflation is still relatively low compared to the $94.00 compared to other countries. but you had to raise the fuel prices, you lower the very costly subsidies. there is a risk that the food prices in indonesia will go up. how worried are you? because your, your population is still fragile. if you look at their income, of course. yeah. her. but i am worried for sure. body. i see that sir. all country leaders are concerned about the same thing and are, according to the world food program. up to 825000000 people. go to bed young. if we're hungry on, you know, this is what all country leaders must feel, the empathy, how difficult there are people's lives are to day that including in indonesia. and the key here is to re open food supply chain regarding indonesia, i found it in the past 3 years. indonesia stopped importing rice with sufficient supply or we can control and stabilize the price. we can manage it all and every day i monitor the market. i checked the price out of danya regarding rise, and emily al gar, legs

recession in the u.s., going to have i think most likely a recession, might be in a recession in europe. reporter: so the underlying discussion at the roundtable that included jamie dimon was a discussion about energyof fossil fuels, that is the strategic petroleum rye serve there. dimon was optimistic regardless of the rift between the u.s. and saudi arabia the two countries will be able to work things out. >> saudi arabia and the united states have been allies for 75 years. i can't imagine of any allies agreeing on everything and not having problems. they will work it through and i'm comfortable that folks on both sides will work it through and these countries will remain allies going forward. reporter: still to start the conference the saudi energy minister gave a warning, a veiled warning to the united states without naming by names, countries should be careful about depleting their reserves and they should be careful about manipulating markets because there would be pain ahead according to his words. now the u.s. from their standpoint the white house still reassessing that relationship with saudi arabia because of that decision. liz: well, yes, always in a state of flux, isn't it? thank you ve

recession. they are feeling the brunt of the energy crisis. are we going to see a global recession?will join this recessionary ground in the early part of 2023. it's a matter of time before we see consumer spending come down in the other advanced economies, like canada, as well. lisa: there is a theory we are pricing in peak fed hawkish this. that sort of seems to be a feeling right now in markets. have we fully priced in the ramifications of that? at what point does that factor into the dollar and create weakness when higher rates cause lower growth? thierry: you will not see weakness in the dollar until the other economies start to do as well or better than the u.s. in terms of their economic activity performance. perhaps it doesn't have to do a lot with rates after all because rates follow growth. if you are doing well, you are likely to have inflation, central bank is lucky to tighten. the u.s., to its credit, is still doing well. it may go into resection next year, we believe it will, but even if it does, it may not be as strong as other advanced economies. in that context, the

going to be? looking forward we think we will slip into a recession. what we are thinking about is when do we get more interested in sectors that are sensitive to recovery? >> when energy continues to rise it will go higher in november and because the fed to remain as aggressive as they are remaining. ♪ stuart: put it on the screen. lauren: makes me want to go to the beach. no one knows who he is. stuart: that should be the trivia question today. 11:00 eastern, it is friday, october 7th. look at the markets. off of 400 points on the dow, 280 on nasdaq. big tech, every single one of them is sharply lower. microsoft is down $10. thanks very much. apple back to 141, that is a selloff big time. maybe this is why, the yield going straight up, now it is $3.87, big tech doesn't do well with higher interest rates like that. now this. the president has parton thousands of people who were convicted under federal off possessing or using marijuana and order review whether part should be in the same category as cocaine or heroin. cannabis stocks went up on the news, they are down today on the big selloff because the president seems to be moving towards legalization at the federal l

energy of the future. now is the time for alexander's economic news next year, more than half of the eurozone will go into a technical recessionthe international monetary fund came to this conclusion. tell me which specific countries will suffer tatyana, for example, italy and germany will be in the red for the time being, i will start with the news of the automotive market. retired military law enforcement officers can get the right to preferential car loans the state program for 21 billion rubles. it is planned to expand by the end of the year, according to tass , the head of the ministry of industry and trade announced this. denis monsters. until the changes have been made, doctors and teachers can purchase a car at a discount for families with a minor child. also, state support is provided to those who buy a car for the first time . let me remind you this year of the program of preferential car loans. in russia have already improved the discount rose from 10 to 20%, and the maximum purchase price. now not one and a half, but 2 million rubles. i will add that there is an increased 35% discount on electric cars and currencie

when you look at next quarter's earnings season, if you strip the energy sector out, we are going to finally see that profits recessionmaria: she really has. all right. mark, james, todd, stay right there. the next hour of "mornings with maria" begins right now. and good thursday morning, everybody. thanks very much for joining us this morning. i'm maria bartiromo. it you is thursday, october 6 at 7:00 a.m. on the east coast. the fbi's latest crime report shows a slight drop in violent crimes last year but it turns out there's a few gaps in the data. new york and los angeles are refusing to turn over statistics, the crime stats, as both cities see murder rates soar. crime also spiking in chicago, but mayor lori lightfoot is

when you look at next quarter's earnings season, if you strip the energy sector out, we are going to finally see that profits recession that stephanie pomboy has been alluding to for the last 12 months or so. maria: she really has. all right. mark, james, todd, stay right there. the next hour of "mornings with maria" begins right now. and good thursday morning, everybody. thanks very much for joining us this morning. i'm maria bartiromo. it you is thursday, october 6 at 7:00 a.m. on the east coast. the fbi's latest crime report shows a slight drop in violent crimes last year but it turns out there's a few gaps in the data. new york and los angeles are refusing to turn over statistics, the crime stats, as both cities see murder rates soar. crime also spiking in chicago, but mayor lori lightfoot is more focused on singing and dancing. watch this. ♪ come on. ♪ baby, don't you want to go. ♪ come on. ♪ baby don't you want to go. maria: let's have a party. tyson foods announced it's leaving the windy city, shifting corporate teams to arkansas. all of this as a new poll finds more voters think republicans are better suited t

europe is different because you have germany going through a major recession, but you also have the 200 billion euros of energyackage protection that the german governor has put in place. what this means is the demand destruction you would have expected from germany might not be as big. the question is, are we seeing government and central bank in conflict again, and would interest-rate need to rise further than they would otherwise have needed to? i think that the demand for restructure in the eurozone might occur sooner. therefore, especially compared to the u.s., and therefore, the ecb might not have to to tighten more aggressively from here. i think we see neutral rate of 1.5, two, and interest-rate peeking around three at the maximum. alix: what does that mean for euro-dollar? kokou: it essentially means the euro-dollar should recover from here because the u.s. will reach peak interest-rate or inflation before europe. therefore, the tightening we see in europe should be beneficial for the euro-dollar. guy: what do i do with all of this? how do i position myself around this scenario that you are painting?

maria: yeah, this energy situation as well as the recession that we are in has americans continuing to say that they do not like where the country is goingve of biden's energy policy. the president promising relief, it's coming but look you just laid out the next 50 days, how about longer than that because the fact is that this administration has the climate change agenda and that means it wants to kill fossil fuels? >> well, longer term we will look at this point in history and we will look back as we lack at smoking cigarette or traveling on an airport in nonsmoking section and say what were you thinking. i think we are going to say to the extent that a lot of people, a lot of business people supporting the cartel, opec plus which is mbs and the rogue policy as well as russia and they are going the look back and say, it might not have been good energy policy but it was certainly not feasible to embrace a cartel. i think law capitalists should report a cartel. that's why i don't like the price cap. we have a buyer's cartel. maria: thank you very much for joining in on all of that. thank you, the next hour of mornings with maria begins r

going into recession. today, the biggest threat to industrial companies is extreme rise in energy prices, which unfortunatelya direct result of the failed sanctions policy of brussels, so we must help companies ensure the sustainability of their energy supply in the long term and be able to bear the corresponding costs. business in germany shows the largest debt in the history of the country among the 150 largest companies that are traded on the local stock market over the year, the figure increased by 20%, according to the calculations of goita hanbels blood. now it exceeds 530 billion euros more than a quarter of this amount, almost 146 billion. accounts for one of the leaders in the field of telecommunications telecom due to the growth of key rates for new loans, they are becoming more and more expensive and many are already planning to sell shares to pay off at least 25 companies, now there are even more debts than capital. the hong kong stock exchange has the largest collapse in the last 13.5 years. the hangsen kupal index is below 15.5 thousand points and is now falling by 5%, the most serious losses i

recession coming. and of course, that weak pound. for an economy that is a net energy importer, it's very hard to see inflation going away any time soond if you ease on the energy prices, you're going to hit on the mortgage costs. and it's not like the u.s. economy at the moment where there is at least a debate about whether a recession can be avoided. it's inevitable here. >> there are a lot of other variables at stake too when it comes to what is happening across europe and the war in russia, the war in ukraine that russia is waging, and what it is doing to energy costs and how strong nato can stand in the face of what could be a very difficult winter. everybody, thank you very much. i wish i had more time to continue this conversation. wilfred and john and jillian, thank you. >>> donald trump support under oath that some of his voter fraud claims were true, even though he knew and was told that they were not. what that could mean for the former president legally. >> plus, congressman ro khanna's unusual strategy and how he reached out to colleagues in the best west and what his colleagues may be able to learn from it. colleagues ma

recession. and part of the problem, of course, is the war in ukraine. now we know that there is going to be an energy crisis in europe. this winter people are predicting it saying, look, it could be very bad, but the international monetary fund are saying hold on a 2nd. while there is a reorganization of global fuel supplies. while 2022 is going to be bad. 2023 is going to be much worse. so there is no real. so the lining to any of this. it is a real problem and governments have to address how they are going to sort this out . central banks have to decide how they're going to sort this out. and in many countries, the international monetary fund is going to have to work out how it sorts these things are, not least because a 3rd of the world's global economies wolf have a recession at some point in the next year. so ordinary people are going to be on the real harsh end of this. now, this is the 1st in person gathering. you can see the people behind me in the past 2 years, international monetary fund because of corporate has that had to do all virtually. but many people here realized that they may be ge

because energy prices are so high, they anticipate they are going to have or are already in a recession. their view on what they need to do to try to get inflation down is a little different than the fed's. the fed wants to kill off demand. ecb knows it has a hard time doing that with recession in the forecast. canada is somewhere in between. they are in for a significant slowdown if not recession, so the bank of canada is careful as well. laxalt out --kriti: i want to ask about the balance. the fed is in full tightening mode, quantitative tightening. the ecb is hesitant to dive into that yet. we had bloomberg reporting that that may come soon or may not. should the ecb be more look -- aggressive about the liquidity crunch? michael: we have been told that the ecb governing council will try to decide on a plan at the december meeting but will not announce it then. they will come to an agreement and slowly roll it out so markets get used to the idea. they do not want to shock the market. they don't want the problem of the bank of england hat with banks or financial firms unable to keep th

supposed to be a buyer the fed will tighten too far and global recession is energy based an that will effect the global economy it will not goenezuela which i still can't get my head around or the domestic energy industry, all of this is not going to get fixed overnight. and i still contend if you look at the temperature in europe on the thermometer, that there is going to be a correlation, as those things go down, so will markets. >> who wants to jump in and discuss that sara, you just mentioned that i don't think you completely disagree with rick. >> i agree and i think that going forward, a lot ofheadwinds for the market next week we'll get cpi. we were happy to see signs of rents moderating but i don't think you'll see inflation drop fast enough to cause the fed to pivot. we still expect about 100 to 125 points of rate hikes for the year the fact that the market, the consensus expecting earnings growth going forward, i don't think we could continue to have that going into a recession which we likely will see next year so that could be the next shoe to drop. and then market evaluations are too high given that scenario. >>

visible symptoms of recession in the u. energy crisis is looming, their bias delaying orders from india. they are concerned but hopeful. let's cross live to economist and publisher. i go home and now joining us from germany, many thanks for joining for the program. it's nice to see this evening as i come, i'd like to ask you will take, oh, well, this is heading. does it look like a government prepared to put their own citizens interests 1st at a time? say, when this is heading, we can imagine when we see how much money they printed before, and what the rand corporation are, is preparing for euro. they are preparing to crash out the german, especially the german economy because they think this is a competitor. they want to get rid of. so what we are facing is that huge bonds of money that has been created in the last 10 years is coming to a decree supply of a good. and so this is which, because they were somewhat touched by the politic, especially the european and the berlin of the german government. so what we are facing now is a huge inflation, where nobody see the end. and this means that especially the middle, that so the small and medium sized companies who are ow

months that's pushing prices down and let's face it, the energy market is priced in a mild recession at this point so if we get that, demand is goingn particularly for diesel and jet and you throw strong dollar up on top of all of that and the result has been that 2 million barrel a day cut has no impact on the market whatsoever. >> i'm glad you explained it to people because they have been completely mystified and see a lot of oil stocks down and figure this might be the time to buy. to me, we have to wait for them to come down more but rusty, something else is really bothering a lot of viewers and that is the president is mad at the saudis thinking they should help us more and now the president is thinking of talking to venezuela but one thing the president isn't doing is talking to major oil companies in this country and they're telling me offline they can't believe we're at this moment in history where the president would rather resurrect venezuela than talk to our own producers. how is this happening? >> well, jim, as you know, i'm no politician so i can't tell you why it's happening there is no doubt that it is because the pr

something was done at the time around energy prices, the increases were all going to be facing in october and that really did lower the probability of a near—term recessionunderneath all that you are in a position where uk unemployment is actually very low, uk inflation is very high. going ahead with a big fiscal plan effectively on top of that was probablyjust the wrong time for that kind of policy action. �* , ., time for that kind of policy action. �* ,, ., ., ~' time for that kind of policy action. �* ,, ., ., ~ ., ., action. but if you look at what some of the — action. but if you look at what some of the top _ action. but if you look at what some of the top investment i some of the top investment banks are looking at in terms of our economy next year and some leading organisations in financial services, they still saying we're looking recession in 2023. , saying we're looking recession in2023. , , saying we're looking recession in2023. , y a, in 2023. yes, absolutely. that is artl in 2023. yes, absolutely. that is partly because _ in 2023. yes, absolutely. that is partly because inflation - in 2023. yes, absolutely. that is partly because inflation

bullish yet, everyone believes europe is going into dreadful recession and its way to be stagflation next year. we have known this for a month. the new story is that energy prices completely collapsed and the ecb is about the hike 75 basis points today. this trait index program out of the trade line, it is now at the multiple high from july and september. we have another 3% of topside and breakthrough that soon. the next chart is euro-dollar, is not the trade-weighted index, it has gotten even better trendline. we have got 1, 3, 5 beautiful touches and we have broken that trendline on tuesday. a nice clean break and we rallied massively again yesterday. i think this might get back toward the 1.06 level. this range from the summer here over the next couple of weeks in this broader relief rally in markets. and that will tie in with the broader dollar decline. one final chart is one of the fundamental reasons it is not all about the ecb. it is about the collapse in european natural gas prices, more importantly the major balance in trade in europe. this is a three-year chart, this is way worse than a few years ago when they were stable. we have rebounded to

recession. >> the underpinnings of the global order are shifting. cheap interest rates, that's going away. cheap labor from all over the world doesn't make sense. cheap energyia, that's going away. it's a really global moment here. >> it really is. the world is not flat. that's what i'm looking at in my book. this period is transitory. we're getting through it. we're getting into a world that's a little less global, a little more local. all of those really highly complex supply chains between the u.s. and china. many have been going to china have thought, you know, not so sure they're going to be stable when there's a crisis. now i take dimon's point. one thing i'm really concerned about is what if there were an incident in taiwan. what is the day one plan? what is the day two plan? that's something the administration is trying to sort out but we don't yet know and businesses don't often know where all their supply chain risk lies. >> rana, the new book, thank you. nice to see you, vrana. >> i just couldn't find my way out of it. the lows of bipolar depression can take y you to a dark place. latuda could make a real difference in your symptomoms. latuda was

energy? >> i think if we go back historically you we find that the equity market does not bottom until the recession is underway. we're not quite there yet as far as a full-blown recession is concerned. maria: we'll see what happens with m&a. hkroger and albertson is doing a deal today. that stock is on the move. john lonski, you're sticking with us all morning. thank you so much. when we come back, five people are dead including an off-duty police officer following a shooting if raleigh, north carolina. we'll have the latest on that story and the nation's crime crisis when we come down. plus, instagram stars is back. we show you the most creative ways entrepreneurs are cashing in. don't miss all that. it's all next week. you're watching "mornings with maria" live on fox business. ♪ welcome to new york. ♪ it's been waiting for you. ♪ welcome to new york, welcome to new york. ♪ it's the new sound track. ♪ i can dance to the beat. making time for the dentist isn't easy. but when your mouth says it's time, you listen. so do we. aspen dental was built around your life. so come on in, no matter how long

every sign shows greater recession based upon the democratic policies and now going into winter and home heating costs are up. why? because they cut our ability to have energy independence in america. time and again, crime in our streets, why? they want to defund the police. now to make this false accusation of where they want to go this is old dredged up ideas that will failing time and again and why america wants to see a party with a plan for a change in the course. that's what a commitment to america actually is. it's a plan for a new direction. >> harris: part of the criticism for democrats has to come that they've come up with a so-called plan 12 days out from the election which means they didn't have one to begin with. the plan is to hate the other guy, the guy on the other side of the aisle. quickly i'm hearing a lot from seniors and they are concerned that their nest eggs are being stolen right now. so they can't be missing that. they are trying to counter that argument, too. let's get to energy because you brought it up. jacque heinrich did. it is hard to fathom the united states of america is 25 days away from running out of diesel and everything

and europe, the recession will be around 2% next year in gdp terms relative to 2020 as you say, there is a deeper restructuring that needs to go on around energygermany's export industries, our trade relationship with china. and so, i do think repositioning will take some time and will be a number of years. anna: that was that the deutsche bank cfo speaking to bloomberg about the economic outlook in germany. interesting to recap some of the things we have heard from the banking sector this morning. deutsche bank, we heard about his 2% forecast of recession in germany, but this is on the back of the business reporting its highest pre-tax profit since 2006. that is view with a higher interest rate environment and think sales and revenue beating estimates paid.let's get the latest on unicredit and what we are hearing from that business. they boosted their profit goal a second straight quarter. the higher rates environment also helping that company. it was also the case at santander, the higher rates environment also of assistance. the bank saying it is not see asset quality pressure yet, that was coming through in our conversation with the cfo ea

would include most of the banks that we own, the energy companies that we own and almost anything that has cyclical exposure if we do go into a deeper recessionht now, i guess that would hurt 23 and maybe even 24 forecasts. i think the long run -- housing is in short demand -- in short supply energy is in short supply. we think that the longer-term future is very favorable for those companies. there's a lot of capital getting returned to shareholders so we think it's a great time for investment. >> okay. bill nygren, thanks for joining us >> thank you >>> let's get a news update. bertha coombs has that for us. >> hey, david. here is your cnbc news update at this hour. the fda has approved updated covid booster shots for younger children moderna's new vaccine is authorized for kids age 6 and older. the pfizer biontech shot is approved for children as young as 5 years of age. >>> three s.w.a.t. officers were shot this morning while serving a homicide arrest warrant at a home in philadelphia the suspect was fatally shot while trying to escape two other people in the home were arrested. the three officers are recovering at a local hospital and ar

inflation, energy driven inflation, which is over half of the inflation, which the federal serve, can't do anything about why raising interest rates is going to continue. and we're going to have a recession here, deeper at the same time, we're gonna still have the prices up around 45 percent, which is half of the, the current price problem here in the u. s. so it's refining capacity. is the oil companies and some who are playing i wanted against the other. and in the meantime, a biden is say, any opening up the petroleum reserve, while that sounds, nothing is the problems of refining problem or an it certainly seems like if it's not one thing, it's another at this point. now, how seriously could a diesel shortage and soaring prices impact other sectors of the u. s. economy? just how far would this shortage rate when it comes to that impact? well, we don't know how fast the oil companies can, you know, pump up their refining of diesel switching from the coil. i mean, from gasoline, the diesel. we don't know if they can do it by the end of the month. they, they probably can, but they're going to raise prices. but as one of your other commentators said, you know, diesel is the fuel in which

recession most likely. it really raises the key challenge for the ecb, as to how they are going to continue to raise rates in this economic contraction. guy: europe can have a energy crisis or a fiscal crisis. given those choices, how difficult he will the ecb react? laura: from the ecb's perspective of the likely way they would be looking at this is their ability to intervene in the bond market through their tpi, those measures already in place. that is the most effective way for them to target. we look at energy shock. there are capacities to cartel that inflation is limited. we are seeing the stagflation inflation starting to emerge. alix: is the first bank of payment going to have to be the ecb because of the specific energy crisis? is the ecb going to pivot first? does that make the european market more attractive? laura: we have to take a step back and look at the big three. that is most likely to be the case that the european central bank will pivot first. we are starting to see the data deteriorate. eventually, we do think the ecb will focus on those growth concerns. as we look toward the fed, we do think at this point we are not yet seeing meaningful sign

go. you got energy mixed in too. inflation, it gets mentioned every conversation. you mentioned it. president biden said there may be a chance of a slight recession but, may be just slight. bloomberg out with a new projection. there is a 100% chance of a recession in the next year given the decades high inflation, fed interest hikes. the economy we know it's top of mind. "new york times" polls show concerns over economic issue have jumped to 44% from 36% a few weeks ago in summer. americans are weary when it comes to president's performance. new fox polling puts biden's inflation approval at just 29%. the white house doing pretty much anything they can to defend him. let's watch together. >> if president biden's top domestic priority is inflation, why doesn't he have more to show for it? >> he's been very clear about making that his number one economic priority. he's done the work with congressional democrats. >> who's exactly thinks the president is doing a good job on inflation? >> we understand there are challenges that are in front of us here in this country. that is why the president has taken action to lower cost. republicans in congress re

gas prices going back up and rising inflation prompting even president biden to admit that we are facing a slight recession. let's talk about how the administration's energy policies are affecting prices across the board with texas public policy foundation vice president chuck devore. if i want to read this if i can because this is from your fox news bed and it says quoting here, biden's anti-domestic energy solutions. big banks, woke capitalist restrictions gradually starving the oil in the gas sector of the money needed to drill new wells. of these companies are getting the full assault from all sides. >> your totally correct and because here in california you get to see what the rest of the country macy in a few short years. i think it's important that your viewers know that this president, president biden, campaigned on going to war against american produced energy. they promised and that's what they were going to do. in fact, in may he said we are going through this incredible transition some of this energy transition as if it was a good thing. they cannot have it both ways. either they have policies that make it more difficult to produce american en

go into a winter where home heating bills will be higher. you see in a recession with recession fears people move to safer industries like oil and energy versus tech. switching gears we have new housing data. pending home sales, a measure of signed contract on resisting -- existing homes dropping worse than expected, 10. 2%, we expected a 4. 9% decline, the lowest level since june of 2010 excluding april 2020, the beginning of the pandemic, sharply higher mortgage rates setting at record lows for the first 2 years of the pandemic and inflation put strain on first-timers. the fed meeting will happen next week so that will be interesting to see how markets work. neil: aishah hasnie, we are getting word next week the fed will raise interest rates just days before the election. what are you hearing? >> reporter: democrats are vulnerable to losing their house majority, not the news they want to hear just days, a week before the midterm elections. democrats, senate democrats are actively pressuring the fed chairman to not raise interest rates saying it will increase unemployment and hurt american families. senate banking chairman brown and senator

going forward? jana: it's a very similar situation. inflation is strong. the economy is on track to fall into a recession in the winter half just because of the energy crisisre facing here and that will of course keep, you know, keep the e.c.b. on edge. right now, their focus is on inflation. inflation is too high. there was little doubt that they were going to move by another 75 basis points. but in those dissenting voices you can see that the discussion, as we approach neutral, as we talk about going maybe into restrictive and as we talk about potentially starting q.t. at some point in the not too distant future that this discussion about how to run monetary policy in a world with high inflation and a shaky economy is getting ever more complicated. of course they are concerned about going too far, about doing too much and having to pivot and repeating mistakes they've done in the past. dani: ok. thank you very much. manus: appreciate it. 2008, you need to be younger to remember that tragedy. dani: i've read enough about it. i was in high school, manus. i was but a teenager. jana, thank you so much. jana: it wasn't pretty. that i can tell you. manus: no,

recession look like? >> it is a great question. you know, for sure europe is going to be hit harder than america. that is already happening. their energycould reach a scary point this winter. people are piling fire wood up to try and come up with alternative means for heating. in the u.s., i think it will be different. let's step back and say we haven't had a recession in a long time and that is because we stretched out the cycle. recessions used to happen once every five or seven years and now it is a decade or more. and that is because easy money, low rates have sort of kept the music playing. rates are going up now. everything that has been known as you say in the economy for last half century, cheap interest rates, cheap money and cheap labor from china and energy from russia is all going away. so we're in a pendulum shift. and think that consumers will feel it in higher prices. but i think there is going to be a lot of pressure on companies to start doing more of their part to really take some of the pain. and to not just put that all on either consumers or government. >> we'll be watching. and hopefully talking about it more with

longer know how things will go on against the background of the explosive growth in energy prices is a lot of question for economists. they say that we are on the verge of a recessionng a wave of bankruptcies. we expected the government to report. the proposed tool will work, namely the setting of a gas price limit, but this did not happen in germany, it was noticed that the authorities, especially the minister of finance, lindner began to abuse it, various metaphors, a protective umbrella, a tax brake, breathing, price, people 's cover , annoying incomprehensible they want immediately involvement, but it is not. although the chancellor everything promises a couple of sponsorships. he is going to remake the global market. if it suddenly works out, then it’s definitely not soon for the candidate. we can take excess revenue and use it to lower electricity prices for citizens and businesses, and this includes capping gas prices that we are currently working on, which should also make a significant contribution to bringing gas prices to heat prices . decreased again and we will do this until this happens on international gas market with the funding opportunities that w

going on, of course we're in a recession. $143 to fuel up my truck, and we have the resources, of course, in alaska. could turn the spig on the on and there flows energy down the pipeline that is built and operating. people first hand having tough time putting food on the table and then we have a president, a world leader telling us this is not happening. >> brian: he said it is transitory. >> 52 people have a light reason to be concerned, absolutely del delusional. >> brian: we should have increased production of oil and gas immediately. in alaska, how much capacity is flowing through the pipelines? >> about tlirt 300,000 barrels per day, america uses 20 million per day and we are producing 18 million per day, alaska at peak, contributed 18% of the supply of energy. it is there, the pipeline is sound and ready to go, turn the spigot on, hat in hannity going to beg for production to fuel our economy, makes no sense. >> steve: white house will say 9000 leases and oil producers are not punching holes in the ground. oil producers have a reason for not doing it. >> absolutely, the white house is contradicting petroleum engineers and geologists who know wh