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join us coming up. >> john: first fox news alert to an economy in crisis. americans crushed on high prices from gas to food while their retirement accounts evaporate. growing concerns a dramatic move by the fed on interest rates could send the economy spiralling into recession. john roberts in washington. sandra. great to have you back. >> sandra: i am sandra smith in new york. this is "america reports." we are watching all of this, brand-new numbers today from may painting a bleak picture of the american economy. consumer and producer prices still skyrocketing, and hitting record hi...

at the winners and losers and dan lothian and david mattingly looking ahead to the battlegrounds that are now more important than ever. all right, let's start with dana bash. dana? >> well, we have some potential news this morning about what this caucus has did to the field on the republican side. michele bachmann who, of course, came in a disappointing sixth, effectively dead last here in iowa is going to hold a news conference in a few hours. her campaign is not saying what it is about, but it is hastily arranged news conference. it is hard to imagine that she's going to have somet...