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and muslims. we'll bring you developments throughout the morning here. meanwhile a shocking murder on the streets of san francisco. the cash app founder bob lee, stabbed to death while walking downtown. this tragedy seen as a wake-up call for a city in crisis. we'll see whether or not they answer that call. good morning, everybody. it's a busy thursday already. i'll bill hemmer. >> good morning. i'm dana perino. this is "america's news room." i remember that war in 2006. i believe you were there as well. we'll keep focusing on that. let's talk about this cash app founder. bob lee was...

we have fox team coverage in new york. larry kudlow of fox business tells us about the global impact of these currency efforts. in washington rich edson shows us how china is making its move. but we begin with national correspondent william la jeunesse at the leag presidential library in simi valley, california. good evening, william. >> good evening, bret. you know, washington and beijing have had for differences over the future of taiwan. today speaker mccarthy down played any disputes. he said while the united states is not interested in war it will not abandon taipei. >> a friend...

Biggest issue right there. but basically, look, 90% of the world's transactions whether you are talking financial, goods, services, whatever, are based on the dollar. so, i don't think that's going to change. unless we decide here at home. our own macro. >> i'm understanding that you are optimistic and great numbers as far as context for us to keep in context. if, for example, you have had a number of countries deciding to go that way and to trade in their own currency or in china's currency, what does that mean technically for our economy if it happened? understanding all the context you just...

US consumer prices in 2021 rose at the fastest pace in four decades, the government announced.