continues to squeeze american families. brand-new numbers showing prices rising more than expected last month yet again. hello, welcome, everyone. sandra smith in new york. mike, great to have you again. mike: great to be here again, mike emanuel. wholesale inflation, 8.5% in september, slightly above the 8.4% predicted. sandra: biden administration bogged down with economic challenges. the president saying there is a chance, he says, for a very slight recession, in a new interview that aired last night but pointed to a global slowdown instead of placing blame on his own policies. all of this comes with the midterms around the corner and as the federal reserve considers another aggressive rate hike to try and rein in inflation. charles payne will join us in a moment. sandra: jacqui heinrich is live from the north lawn for us. jacqui, hello to you. so, what do these brand-new numbers on the economy tell us? hey, good afternoon to you guys. the producer price index