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the fed scrambling to tame prices for seven consecutive rate increases bringing interest rates to the highest level in 15 years. chairman power makes it clear that at the final meeting of the year there is more work to do and more payment had. >> you wish there was a completely painless way to restore price stability. there isn't. this is the best we can do. but i do think that the markets are confident that we will get inflation under control we are certainly highly committed to do that. >> bringing in our panel. and editorial board member kyle peterson. mary, i appreciated the cand...

hello and welcome to audiences in the uk and around the world. we start in germany where soaring prices and an energy crisis have europe's biggest economy on the brink of recession. and bracing for possibly its highest inflation in 70 years this autumn. rocked by limited gas from russia and the expensive business of weaning themselves off kremlin supplies, germany's central bank has warned that the current squeeze on the cost of living is set to continue. now, the government has put in place measures to save energy with things like lighting restrictions on workplaces, and they've bee...

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 ...

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...

economists were expecting. so what you have right now is a scenario where business level inflation does appear at least from one data point to be moderating a little bit, which is why even with that data showing a large year over year increase, up around 8.7%, it is still lower than it was in the previous month. that is leading some to be a little more optimistic which is why you are not seeing a mastiff market reaction today the likes of what you saw yesterday. but what it comes down to is whether or not this will change the calculus for the fed. and at last check on the heels of th...