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yesterday's scathing report on inflation as well. >> dana: that number coming in much hotter than predicted. data suggesting the president's inflation problem is here to stay. the markets reacted accordingly. >> bill: the dow plunged almost 1300 points, the worst day since nearly the height of the pandemic in june of 2020. the sell-off fueling predictions of an even larger federal rate increase. >> dana: the rate hikes designed to drive down the inflation hurting your wallet. americans are paying more for everything this year, food is up more than 11%, that's the largest increase in ...

♪ my time is at hand, i won't make it any other way ♪ >> harris: his hit fire and rain is what was happening in the markets yesterday. i'm harris faulkner and you are in "the faulkner focus". here is what's happening right now at the corner of wall and broad. it's what world markets are watching and affected by as biden's economy is burning, rome style, rome is burning reference there. we're up just a bit as investors have rebounded a tad. it is early in the day. during the celebration, the president was hosting his so-called inflation reduction act celebration. the dow jones ind...

motors all wrong? >> john: electric vehicle push the latest issue fueling criticism that president biden is out of touch with everyday americans. >> sandra: barely been 24 hours now since the big celebration at the white house, the president celebrating his massive climate and social spending plan yesterday, even while rising inflation numbers sent the stock market into a tailspin. welcome back, as "america reports" rolls into hour two. we are keeping our eye there in the motor city, i'm sandra smith in new york. great to be with you, john. >> john: i'm john roberts in washington. th...

about 1/10 of 1%, and anyway -- thank you. >> we begin with president biden brushing off august inflation report insisting the economy is still strong despite high prices hammering families nationwide. hello, happy wednesday. john roberts in washington. hi, sandra. >> sandra: sandra smith in new york. comments after the dow plunged 1200 points in yesterday's trading session following the higher than expected inflation number, and it does mark the worst day on wall street since covid shutdowns began june 2020. >> john: biden is back on the road in the motor city of detroit celebrating...

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 el...