li on the difference in 24 hours. susan? a new reality that inflation is higher and may stay elevated for some time. today s wholesale prices are the inflation that producers pay still much higher than a year ago. sure, coming down from the previous month. couple that with yesterday s consumer price jump and we re close to the 40-year highs and that s more than four times the way the federal reserves thinks is healthy for the economy. close to a third predicting a full 1 percentage point rate hike from the central bank. that could be the biggest central increase since 1984 when paul volcker was fed chair. before yesterday s report, that probability was at zero. elon musk weighing in. he thinks the federal reserve should cut interest rates because of the drop in lumber, cop per and oil. nobody is expecting a cut in rates until next year. stock market didn t recover much from yesterday s sell off. you have more job cuts by big technology companies. that s why some are calling
sandra smith will stick around for us today as well. and bret baier also joining us this hour as the president insists the economy is right on track. celebrates it with james taylor at the white house. first we go to white house correspondent jacqui heinrich. hi, jacqui. even though that new gallop poll shows that voters are far more concerned with the economy than the climate, the president is fixated on climate telling reporters that he s not concerned about yesterday s hotter than expected inflation reading or the stock market sell-off before announcing that $900 million for electric vehicle chargers on highways across 35 states. great america road trip will be fully electrified, whether you re driving coast to coast on i 10 or on i-75 in michigan. charging stations will be up and easy to find as gas stations are now. we ll invest $7 billion to have the batteries and other critical materials that car companies need. the white house wants half of all new cars to be el
has taken office. neil: after more than 1,000 interviews, tens of thousands of documents and hundreds of hours of video and audio recordings, some never seen or heard before, it s on. the january 6 committee is ready to make its case and democrats say it s a damning case of a president determined to up end the golf as he sought to nullify an election. republicans say it s a prime time snow job. intended to deflect attention away from soaring prices, soaring crime and plain old sore american voters. today fox on top of how it goes down hours from now with former deputy assistant attorney general tom dupree on the uphill legal climb for tonight s tonight. former republicans on why republicans should get engaged tonight. democratic committee member, elaine luria and what she hopes both sides today. and why the watergate hearings and iran contra hearings are not what you ll see tonight. chad pergram with more on what we are in for tonight. a big night. maybe even a historic nig
pay for things went up only 7.1% last month. economists had expected something much higher. as our brian brenberg reminds me, that inflation number still has 7 in front of us, which explains why stocks were up 800 points only to close up a fraction of than when the markets were closed. welcome. i m neil cavuto. i think they call this a crazy day. you re watching your world what in the world to make of a market that collectively looked and rejoiced at a retail inflation report that look good because the pressures were coming down. reassess that, assessing possibly they re not coming down. class is not dismissed because the professor is in. brian brenberg on what to make of this. brian, when you were with me on fbn, you told me maybe it s pause it had a seven in front of it. i thought to myself, that was brilliant. that s exactly what dawned on people. it s still a bad number, right? i love the number 7. mickey mantle was number 7.
administration, they view it as a success. this is what success looks like. over and over. here you have dhs secretary mayorkas visiting el paso tomorrow. he should be visiting with the family members of border patrol agents that committed suicide. this shouldn t be partisan. this isn t a political game. there s people s lives at stakes. we have to continue to put the pressure on and work in a bipartisan manner, which is why henry cuellar and i work so close together. neil: there s a little of that we need to see more. before we go to break here, i want to draw your attention at the corner of wall and broad. the dow up 528 points. here s the big deal. we re expecting to see a retail inflation report that will show a slowing, i still say a slowing in the trend of an upward ticket in prices. they still move up, this is a level that you and i pay for things. the level right before.