he invoked the federal production act. that will compel suppliers and manufacturers to boost production and ingredient suppliers will have to deliver to formula companies first before any other customer. president biden is also directing military aircraft and commercial airlines to import formula from abroad, something the fda has long stood in the way of. currently the fda bans most foreign infant formula, not because of health concerns about labelling issues. in the face of this crisis, the agency promises to hurry up their review process to expedite imports. on capitol hill lawmakers voted with overwhelming support 12-9 to pass a bill that would widen access to baby formula for families using the nutrition program for women, infants and children known as wic. almost half of the babies born in the united states qualify for wic. when the shortage hit, many of the alternative brands or specialty formulas were not covered by wit benefits. now more family will be able to get he
responsible for the house crisis as the house scrambles for a vote tonight, tonight, on a multi million dollar bill to help. plus, check out the markets. have you seen this, wall street in a free fall in the last hour of trading. investors are getting ready for the biggest loss since 2020 because retailers, walmart, target, et cetera sounding the alarm on inflation. coming up, we ll tell you what is going on and when things could turn around. i m hallie jackson in washington and i want to bring in our poll lit. caller: political team. dasha barns, vaughn is in philadelphia and tony is in north carolina and our senior political editor mark murray is with us, as well. at 3:01 eastern time, 12:01 pacific here is where we stand after last night s primaries. in pennsylvania you have oz holding a lead over david mccormick. a recount is looking more and more likely. it s coming as you have former president trump as he did in 2020 not waiting around for the official results, ur
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price is lower. the national average at $4.70 is the highest it s been so that cuts into consumer spending. it does appear from target and walmart people are buying luggage so they re planning to take summer vacate nations and so they re planning to fly rather than drive. essentials are important. so food has been purchased in more bulk and basic goods and services over consumer electronics, for instance. those things are being substituted by consumers. so, it s kind of typical, you know, end of cycle behavior when the fed is raising rates, affecting housing prices, car prices and thing like that. that people begin to retrench. although, i should point out, the consumer is still spending. they re just spending on different things right now. so we are in a correction with the market. are we headed towards a bear market? yeah, bear market. the average stock is down 25%. half the nas da 50% or more. a quarter of the nasdaq down