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Maybe the fed can get the economy under control. to us, this seems like driving at 75 miles per hour but not knowing which way the road will turn. an accident seems inevitable. p pamela, let's hope not. >> not knowing which way the road will turn. as we know, uncertainty is what drives anxiety. you're seeing that play out on wall street. gas prices of ticking up ever so slightly after 98 days of falling prices. what's going on? help us understand this. >> the national average is ticking up $3.69. that is well below the peak at $5.02. oil prices plunging 5% today. the good news is that should d...

Elements on russian oil are causing prices to spike. they've been going down for many, many weeks in a row. >> 80 straight days of declines for gas prices. that is demand destruction to. we drove less when gas prices hit $5 again on average. out in california by the way, still above $5 a gallon. down in the gulf states, down in texas, almost $3. when we talk about inflation, the first thing people think about is gas prices because we have to fill up once or twice a week. this has been a relief for u.s. consumers and maybe one of the reasons that retail sales remain strong even though inflation...

Let's get a check on cnn business this friday morning looking at markets around the world. asian markets closed down. covid-19 outbreaks still dogging construction and manufacturing. europe also a lower tone early on. here on wall street stock index futures down here after this ominous warning from fedex raising new alarms about the economy. fedex parking cargo aircraft, closing offices, reducing sunday ground operations. fedex grappling with higher fuel and labor costs and package delivery weakness in asia. dow fell 173 points. s&p 500 nasdaq fell by more than 1% each. retail sales rose by 0....

You saw car sales, auto sales fall a little bit here. but when you strip out autos and gasoline, you had a stronger core rate of inflation -- core rate of retail sales than many people had expected. year over year, sales up 10.3%. so when you dig into this number a little bit, you're still seeing signs of a resilient consumer. it is so interesting, especially that gas price number was really a relief for so many families. that's kind of a game changer here. when you talk to economists, many are saying these are not recessionary numbers we're seeing. we're seeing a consumer who will change mayb...

Over this country. >> 33% of americans approve, i should say, of president biden's job right now. why do you think that is? do you think the white house needs to recalibrate as we head into the mid term year? >> here's what i think. i think the overwhelming factor in this is the fact that americans after nearly two years of the pandemic are feeling burdened and tired by it. i know i am. i know everybody i know is. and so as long as we're dealing with this and we're nearly two years into it, it is putting a lid on people's, you know, enthusiasm about great economic numbers, for example. and une...