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The committee will come to order. Without objection, the chair is authorized to declare recess of the committee at any time. This hearing is entitled Monetary Policy and the state of the economy. I recognize myself for four minutes to give an opening statement. Today this committee convenes for a hearing on Monetary Policy and the state of the economy. Chairman powell, welcome back. Today i would like to start by addressing the current elephant in the room when it comes to Monetary Policy and the fed. This president has made it clear that he has no understanding or respect for the independence of the Federal Reserve. He has said the fed, quote, doesnt have a clue, quote, unquote, called it the most difficult problem for the u. S. According to media reports, he d ....
and millions more worldwide. now new revelations about the mysterious origin of covid. mark esper is here live. f-16s are not the key capability of that offensive. sean penn pleads with president biden to send fighter jets to ukraine or the actor says there will be, quote, blood on our hands. sean penn joins me and president xi and his military leadership have doubts today about whether they could accomplish that invasion. and china, russia and the united states reach a critical point in the ukraine war, the cia says beijing is having second thoughts about potentially invading taiwan and a significant admission from the head of fox news, acknowledging the host on his network promoted election lies. what this means for the billion dollar lawsuit against fox news. we want to welcome our viewers here in the united states and around the world. i m wolf blitzer, and this is a special edition of t the situation room. tonight, new questions around the center of ....
that hearing is young way right now in texas. the house homeland security committee is holding a hearing on protecting the southern border. democrats were supposed to be there before they backed out suddenly earlier this week. the hearing comes after more than 1,000 migrants rushed across the texas bridge and smugglers are going to new depths to hide things in plants even as they try to evade the border. we ll have the latest from the border coming up. sandra: from the hearing as well. we begin with this fox news alert as the stock market right now in the u.s. has fallen to its lows of the session over growing fears on whether the president can meet the moment to protect the u.s. economy. big questions are looming at this hour. we will dig into it. hello and welcome, everyone. i m sandra smith in new york. john, good to be you. john: always something. john roberts in washington. this is america reports. credit suisse their shares heading to an all time low, trad ....
russian fighter jet crashed into an american drone forcing the military to ditch it in the black sea. john: it marks the first direct encounter between the two countries since putin s war began a year ago. a whole lot of questions that demand answer as america reports rolls into its second hour. i m john roberts in washington. here we go again. sandra: john, here we go again. lot of live events expected this hour. we ll be watching for them. we re gonna bring you that news conference live right away. attorney general kellogg is standing by. he said he is fired up. he will be here to react to what we hear from that news conference. first this fox news alert. john: massive selloff continuing on wall street as investors get more skit tisch about the banking industry. painful inflation showing no signs of letting up. there could be more trouble for the banking industry on the way. right now fear is growing that switzerland s second largest bank, credit suisse, could b ....
president biden insists the u.s. is not in or heading in to a recession. despite many economists looking at it differently. the president is feeling better from his covid-19 diagnosis last week. this week will determine whether his good feeling about the u.s. economy will pan out as well. a pivotal week for the president and his party as the gross domestic product or g.d.p. number comes out. the economy could be in a recession just a few months ahead of the midterms. but the biden team is already trying to get ahead of that by attempting to essentially change the definition of what a recession is. white house correspondent peter doocy has our top story tonight live from the north lawn. good evening, peter. good evening, bret. officials here are talking about how well the economy is doing because of how many jobs have been created since this president took office. but, jobs are just one economic i observed carat. some other economic indicators may show this week the co ....