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Economy being strong. we threw so much money that this economy, bret, to first, obviously it had to be done because we couldn t go to work. we were in the dark. we were facing a pandemic that no one alive had ever seen or dealt with. so the entire world shut down. we needed a way to sustain ourselves. but we came out of that recession 2020 recession with a shortage in history. we saw what they called the v shape recovery. a lot of people didn t believe it but it was true. we entered last year with household balance sheets in the west shape they have ever been in. wages were going up. people had money. our savings rate was well over 20%. some months 25%. the extra money, the extra so-called rescue package, almost $2 trillion was completely unnecessary. we still have tons of money, billions and billions of dollars flowing through the system and that goes to spending. now, when president biden talked about, you know, these things coming from outside this country, he makes a great point. t ....
good evening, bret. campaign event vulnerable house democrat in virginia. the president tried to build support for his legislation effectively dead in congress for months. and this is not helping his case. a worse than expected inflation report putting a damper on the president s push to sell more big. i m going to work like the devil to bring gas prices down. i know food prices are up. we are working to bring them down. consumer price index rose 7.5% in the 12 months ending in january the hottest pace since 1982 tripping out volatile food and energy prices, the increase was still the largest in nearly 40 years. 6%. and the wages are up is eating gains. if you haven t personally gotten a pay raise of 8% or more in the last year, then democrats policies have given you a pay cut, pay cut. the president is blaming the pandemic. when the factory shuts down in another part of the world, you need that particular product ....
In fact now there is even 14% chance of 75 bases point. we should point out all of this happened. the market was coming back. we opened down pretty hard. we were coming back because as you alluded. to say we assume at some point the fed is going to take action and at some point inflation will fade. we assume that we knew january was going to be hot. maybe hotter than we thought. we knew was going to be hot. we assume it can t keep going like this. and then james mueller now a voting member of the fed. they all take insurgency rotation. he came out and said he wants to go strong, hard, heavy, that s when the market collapsed. bret: we appreciates the analysis as always. charles payne, thanks. you got it. bret: two week long siege in canada s capitol protesters pandemic policies starting to be felt across the border in the u.s. the auto industry is particularly in peril. molly line in ottawa tonight. vowing these wheels won t turn until a cross border slack seen mandate is listed ....
Businesses are feeling the effects. one trucker looked at the politician and cried hypocrisy. global leaders have been hurting the supply chain for the last two years and we re just support if we have to live borders closed for now we will all be supporting that. a new court order has effectively frozen online fundraising efforts to support the truckers after more than 8 million was raised on the platform. bret? bret: live in ottawa, thanks. one of the pressing committees questions of the coronavirus tonight where are all the life-saving drugs we have been hearing about for much of the pandemic. turns out for most americans, there are at least months away. here is correspondent gillian turner. antiviral drug paxlovid is being heralded as a covid cure. it s effectiveness in clinical trials has public health officials optimistic. it s quite efficacious, finance great. it has a lot of drug ....
Lake erie, cleveland on lake erie. fabulous lake. i m always on the lake. the season ends early there, october. my colleagues there in ohio. they take advantage of lake lake even in the snow and ice. where is that video. snow and ice. there they are. toeing boats out on the ice. judge jeanine: all right. that s it for us. special report is up next. hey, bret. bret: judge i think you should feed the skyline chili to fred, ted and stella and wisdom the wombat. thanks. good evening, welcome to washington. i m bret baier breaking tonight the hottest inflation reading since 1982 has the heat on president biden to do something about it. consumer prices jumped 7.5% last month compared to a year earlier. today the president tried to shift the blame to the coronavirus pandemic and shift attention to his social spending efforts. white house correspondent jacqui heinrich starts us off live tonight from the north lawn, good evening, jacqui. ....