get gas, like, everything s just more expensive. neil: americans speaking out and freaking out over prices still rising as their 401(k)s keep plummeting and now a new report warning that inflation may be staying and may be much longer than expected. a new fox poll that shows more voters are blaming the guy in the white house. before you run for cover, just know we ve got you covered with lucas tomlinson at the white house as president biden says it s not inevitable we ll have a recession. susan li on the markets indicating we already might be in one. first to susan li, taking stock of stocks just, well, taking a hit and a big hit at that. horrible week. yeah. well, you saw it, neil, the worst week for the stork market in two years stock market and that s after a historic rate hike by the federal reserve, the single sharpest move in 28 years by the central bank, and they re trying to move quickly. as a result, money fast in
economy. hey, andrew, good morning, jonathan, you have details the worries about the economy. let me add to it. the world bank just now put out a report warning of stagflation. saying the global economy may be headed for years of weak growth and rising practices rising prices, a toxic combination out of the pandemic. people hear the word stagflation and give us a break down, what could this mean and how certain is it? the base case and ben bernanke and janet yellen, we re starting to live through stagflation. costs are continuing to go up and we re going to have pressure on the downside from the federal reserve at the same time. when you think though about cost, i mean and you re seeing it right now with target, they came out with some new expectations just today and some of that may be deflationary,
now gas prices are 30% more expensive than they were the day before russia invaded ukraine. six states already at at least $5 a gallon. washington state and nevada, california, well above $6 a gallon. illinois, arizona, new york, approaching $5 a gallon. jp morgan put out a report warning $6 a gallon is possible by the end of august, which would obviously be a huge thing. all over the country. exactly. just to tell you what this means for families. households spent an average of $2800 a year on gasoline according to research. at today s prices the annual rate would be $5,000 of spending. this is a big deal for household budgets an we know that gas prices holds a special place in consumer psychology because every day we drive by and see those prices and we really feel it when we fill up, especially lately. absolutely. good perspective. thank you. really appreciate it. coming up for us we re going
protest but it can do the g-7 out of that but the g-20 is harder to do and it points to the harder issue that not only china but india has taken a different stand on ukraine than the u.s. and europe. and the imf report warning that largely because of russia s invasion of ukraine, global economic prospects have been set back, inflation is now a clear and present danger, it is not short for many countries. how do you counteract that and the growing supply food in egypt and west africa because of the lack of wheat from ukraine and russia. yeah, well what we re going to see is the repercussions of the war will roll out over the course of the year. we see it in the energy markets today in terms of prices and really shortages even, shortages of coal because the europeans have banned coal. but i think you pointed to
supporters and bogus news reports in nascar garages, might have been able to find james rants on social media. unpack that for us. look, back in 2016 the fbi put out a report warning about the domestic terrorist threat of something they called black identity extremism, and that was after the shooting of those dallas police officers during a black lives matter rally and six of them were killed, and this sort of increasing racial hate speech it seems to be ok to be racist against white people and we saw that with the brooklyn shooter. i mean, he was spewing the most disgusting hateful violent rhetoric all aimed at white people, also hispanics, and you know gillian: and jews, and some blacks, he didn t really limit