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, single pound in excess profits she chooses not to tax is an extra pound on borrowing that working people will be forced to pay back for decades to come. the first cabinet meeting of the truss premiership took place earlier. it's said to be the most diverse cabinet on record. we'll have more on the new cabinet, and on the cost of living crisis, as another warning comes on the state of the economy. as business struggles, little can be done to stop the uk falling into a recession — that's the verdict of the bank of england. the queen postpones an online meeting with senior ministers...

Have gas pains, but the world is having gas pains about this. >> that is one way to put it, and the world seems to be skating toward the puck of the dramatic, statement i made up earlier this morning. still ahead on "morning joe," president trump is asked to reflect on the first six months. his answer is worth all four minutes that we'll be playing to you straight ahead. back in march, michael flynn's attorney said the former national security adviser had a story to tell. now it appears he's telling it. we'll bring you the new details emerging this morning. first here is bill karins, a check...

>> 111 measured, you know that if you know the road down from new orleans down to venice. and there was significant damage along that stretch of roadway. and there was one report of tornado. we have tornado watch out right now for parts of the florida panhandle. it's still raining across southern louisiana. they've still got flooding issues, but most of the wind energy moved off to the east. lake charles in this last hour and a half has reported a severe thunderstorm rolling through southwest louisiana. there's your tornado watch, including pensacola, panama city, that area. and boy did it rai...