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nearly a decade in a russian prison. good morning. and welcome to "way too early." on this friday, august 5th. i'm jonathan lemire. thanks for being here. news from last night, senator kyrsten sinema has agreed to back democrats reconciliation bill. clearing the way for a vote later this week. her decision comes after days of fellow democrats lobbying her on the deal. in a statement last night, the senator said she would come on board after the carried interest tax provision was removed. lawmakers also agreed to combat droughts that plague her home state of arizona. democrats are...

>> president biden may not be joking giving the other disaster he has created here at home. a whopping 85% of the country says america is on the wrong track. and that includes 78% of democrats. apparently president biden is irritated by elect of party enthusiasm when it comes to a potential second term for him. the new york times reporting that the president is "irked a" by democrats, going to take yes for an answer on 2024. that times adding "the president and his top aides have been stunned by the question about his plans, irritated at what they say is a lack of respect from their ...

and the secret hidden in china's rivers, finally exposed after a long drought. we begin with some news which has been breaking out of somalia over the last couple of hours, where security forces say they've ended a siege that had lasted over 30 hours at the hayat hotel in the capital, mogadishu, where islamist gunmen were reported to be holding hostages. there's been no independent verification, and no official statement from the somali government. the militant group, al—shabaab, claimed responsibility. our reporter emily brown has been following the story and joins me now. what is...

>> reporter: so he's going to be pushing for this three-month gags holiday, and basically that would mean a 90-day suspension of the federal gas tax. if you're wondering what that's going to save you when you're actually at the pump, right now the federal gas tax is about 18 cents for a regular gallon and 24 cents for a gallon of diesel fuel. so not really that big of a difference when you're looking at an average price of gas. it is getting close to $5. of course it topped $5 earlier this month. so that's been a big question for lawmakers because getting this done is not just someth...

into bear market territory yesterday. economists predict the fed will raise interest rates again in another attempt to battle rising inflation. cnn business correspondent solomon is here with me now. this ppi report, why should people at home care about this? what's it matter for us? >> it's interesting because ppi doesn't get as much attention as the consumer price index, but it's really important because it's factory level inflation, what producers are experiencing, and we know what companies are feeling, we'll likely see a few months down the line in terms of consumer prices. even...