Page 4 - Bread Baskets News Today

Shannon: reporting live from the white house, thank you so much. joining us in washington is jared bernstein. hank you for being with us on fox news sunday. >> my pleasure, shannon. almost a year to the day that president biden said no serious economists out that we would enter a period of unchecked inflation. 9.1% as of this week. how did the white house get this so wrong? >> that was the dominant or cast at the time. we were fighting forecasts across the board. i think there were a number of i...

And friday morning, it was pounded by several russian missiles that have just devastated the building and also landed in surrounding fields. this city is getting hit day after day. ive been to an elementary school that was destroyed. another university has been hit. theres a hotel we went to today thats been hit, hospitals as well. the russians are also rocketing other cities across the country in what the ukrainian government alleges are acts of terrorism. its not just cities being hit, too. it...

Biggest bread baskets in the world. ukraines fertile farmland now a battleground. military drone footage exclusively obtained by cnn shows russian artillery pounding wheat fields, burning the summer harvest charcoal black. farmers race to protect their crops. until russias invasion, ukraine was the worlds fifth largest exporter of wheat. >> this looks like some kind of munition over here. >> now, ukrainian farmers are harvesting a deadly crop. mikhail says these are pieces of russian rockets tha...

Inflation. he did seem to get the timing right. what do you think is behind this inflation? >> so, i think there are two things happening. the first thing is in the real world. thats covid and the war in ukraine. we started to see throughout the pandemic supply chains raking down. the world becoming much more regional in some ways and local in some ways. thats inflationary. when you adds time and stress to the system, you get pressures. this is taking russian energy out of the market which is a ...

Inflation. didnt seem to get the timing right. what do you think is behind this inflation? >> i think there are two things happening. the first thing is in the real world, and thats covid and the war in ukraine. we started to see throughout the pandemic, supply chains breaking down, the world becoming much more regional. local in some ways. thats inflationary. when you add time and stress to the system, inflationary pressures. at the same time, you have the war in ukraine. this is taking russian...

And two, bringing down the federal deficit at the same time. bringing down the costs, heres where we stand -- the two challenges on the minds of most working families are prices at the pump and prices at the grocery store. both of these challenges have been directly exacerbated by putins war in ukraine. the price of gas is up $1.40 since the beginning of the year when putin began amassing troops at the ukrainian border. this is a putin price hike. putins war has raised the price of food because ...

For inflation is vladimir putin, not a joke. putins invasion of ukraine has driven up gas price and food prices all over the world. two major bread baskets of wheat in the world are ukraine and russia. the united states is number 3. canada number 4. well, we saw the most recent inflation data last month about 70% of the increase in inflation was a consequence of putin price hike because of the impact on gas and energy prices. im doing everything i can to bring down the prices. >> pete: like is h...

Its one of the bread baskets in the world. im hearing farmers in kansas saying commodity prices are so high right now we cant afford as much fertilizer. were not going to get the harvest here. thats when you get the food rise. its bad for economics. this can reshape geopolitics. >> food and fuel shortages. history is -- the book of history is written with what happens when that is a problem. youre preparing the sixth round of sanctions against russia. the trick here, i was talking to nic roberts...

War but we can change the game with u.s. energy. the president refuses to do that. >> pete: talking about price is at home what about food? >> this is a real concern because russia and ukraine are big bread baskets a lot of grain, especially wheat. this is one you may not see prices go up right away but as the year goes on and hip at the gas prices first, then you start getting hit with the food prices, that supply contracts, that is a double whammy for families. if you think about a family but ...

Bills in future, as well as higherfood prices, because of the disruption to the energy market. on the international markets, the prices of oil and gas have take off again, with oil hitting a ill—year high, and wholesale gas prices doubling in the space of three days. our economics editor faisal islam has more details. ukrainian farmers are seeing a very different type of harvest during this invasion. social media images of tractors telling abundant russian military hardware in the field where ...