market after government borrowing costs soar to a 20 year high. no end to the strong dollar. us interest rates are going higher and staying there for longer, according to policymakers at the federal reserve. also coming up: digging ourselves into a hole. how climate change is threatening the world s soil and our future food supply. we start here in the uk, where pressure is growing on prime minister liz truss and chancellor of the exchequer kwasi kwarteng to rethink their economic plans. financial markets have been in turmoil since they promised £45 billion worth of tax cuts funded by borrowing in a mini budget statement on september 23rd. the chancellor is due to set out how he will fund the package and reduce debt at the end of the month. facing questions in parliament on wednesday, the prime minister ruled out scrapping her tax cuts, but said spending on public services wouldn t be cut either. we are spending almost £1 trillion of public spending, we were spending 70
survive in the way you ve known it if donald trump is gep chosen? it can t survive if he s our nominee. no. i think that he can t be the party nominee. i don t think the party would survive that. i believe in the party. and i believe in what the party can be and what the parry can stand for. and i m not ready to give that up. those of us who believe in republican principles and ideals have a responsibility to try to lead the party back to what it can be. powerful words from republican congresswoman liz cheney on the future of the gop. the january 6 hearings may be on hiatus but the committee is still making news. cheney said there is a chance that the committee to make multiple, multiple criminal referrals of donald trump to the justice department. we ve already learned the next hearing set for later this month will focus on the mob at the capitol including who organized it, and who financed it. good morning and welcome to msnbc live coverage on this monday, july 4th. i m
the united nations has warned the conflict in ukraine could send tens of millions into famine, at the same time, egypt s finance minister warns that millions could die globally because of the food price crisis. the war is directly affecting global food supplies, especially wheat, maize, barley and sunflower oil. eu agriculture ministers will meet in brussels today to review the current crisis. joining me now is sean rickard, independent economic analysis. thanks very much for being with us, just how serious a threat as the war on global food supplies in your view? it is supplies in your view? it is serious but supplies in your view? it is serious but they supplies in your view? it is serious but they think - supplies in your view? it 3 serious but they think we ought to take care not to exaggerate the situation. obviously ukraine is one of the world s largest exporters of wheat and oilseeds and its ability to export has been severely curtailed but the rise in prices refle