tv CNN Newsroom With Ana Cabrera CNN May 10, 2022 10:00am-11:01am PDT
hello. thank you for being here. you are feeling it at the grocery store. you're feeling it at the gas pump, at the mall. and moments ago president biden told americans, i feel your pain. >> i know the families all across america are hurting because of inflation. i understand what it feels like. i come from a family where when the price of gas and food went up, we felt it. it was a discussion at the kitchen table. >> the president called on the whole of the american government to do something about the inflation crisis. what he says is the number one challenge facing families today. we're going to drill down on what this means for your wallet. first, let's go to kaitlyn collins at the white house. kaitlyn, what new did we hear from president biden today? what's his plan? >> well, you heard him bluntly confronting this challenge, saying that inflation is his top
domestic priority right now. he knows the pains that americans are feeling because of it, but the big question, of course, is what president biden is going to do about it. that's where the challenge comes in for the white house. the president today leaning on the federal reserve, saying he does agree with them that inflation is the number one economic priority here in the united states. and you've seen interest rates on the rise, potentially more of those rises to come in the coming months. when it comes to what president biden is going to do, he talked about the federal reserve's actions and his domestic agenda which we should note is stalled right now on capitol hill. and he also talked about telling companies not to price gouge, but there are still big questions about other steps he could take that he has not taken so far. you did hear him at the end of the remarks say that they are discussing whether to remove the trump era tariffs on chinese goods. that is something that experts have said they believe could help prices for consumers on certain products that, of course, have gone up in recent
months as inflation has ticked up. there are also big questions about implementing a national gas tax holiday. that's not something biden announced. other questions about immigration and imcreasing immigration which they believe could help but would require the work of congress. biden was trying to send a message that he understands the pain americans are feeling and he is working to address it. but also to criticize the republicans who are criticizing his handling of the economy. because we know in the latest polls that we've seen, something that republicans and democrats are paying attention to, the president is not getting good marks for his handling of the economy. the latest cnn poll said that 77% of people believe economic conditions is poor. 23% see it as good. that is not good news for the white house. and so he was criticizing republican senator rick scott of florida who put out an economic plan that talked about a minimum federal income tax. right now there's about half the nations in the households in the
nation don't actually pay that because they don't make enough to pay that minimum tax. and so that is something he was criticizing saying the republicans essentially who are criticizing his handling of the economy don't have a better plan for inflation. of course, the big question for the white house is voters often hold accountable the person who is in office for this. and democrats know that. that is something they are looking ahead to when it comes to the midterms this fall. and they look at the gas prices like what you saw today at the highest they've been in so long, and that is the big concern for them. they don't think the economic head winds are going to get any better in the coming months. that's why president biden said today likely not the last speech on inflation he's going to give. >> okay. thank you for that. let's bring in matt eagan here with me in new york now and pete m monteen. what drives inflation can be complicated, but the effects are simple to understand for us, prices go up.
what is it looking like for an american family? what are we paying for more? >> the sticker shock is real and across the board. this is just in march. 12-month price gains on a whole variety of categories inspect restaurant, meals, men's apparel, baby food. new cars and trucks. chicken. bread. across the board, these are the biggest 12-month price spikes eve ever seen for the categories. >> 16% increase for bread. >> exactly. and we've never seen anything like that for as long as the government has been tracking these metrics. and if you look at overall inflation for consumers, for the longest time, this is around the time that the great recession hit, we saw very level almost no inflation. 2% inflation. and covid happened. and we saw prices going basically straight up. and that is something we really have never seen since. you have to go back to the early 80s. the last time you saw anything like this. now, i think the good news would be we are getting another inflation report out tomorrow.
the economists expect that it may cool off. instead of the 8.5% number, we're looking at potentially 8%. and that would be good news. >> slightly. >> but it is still very high. and i think that this chart shows that it's going to take a while until inflation gets back to normal levels. >> to put it into terms of actual money, that's not in our bank accounts or not in our wallet right now, what's the big picture? how much more are americans paying? >> they're paying a lot more. check this out. they say $327 a month is what the average family is spending. that's around $4,000 a year. and we know this is most painful to low-income families and also people living on a fixed budget. it also means that wages, even though wages are going up, once you adjust for inflation, wages basically are actually going down. that's why inflation is such a problem. and it's such a concern for so many people right now. >> one of the areas we're seeing so much of this inflation is
that the gas pump. let's look at where we are right now with the gas prices today. all the way up to 3.27 4 -- $4.27. up $0.17 from a week ago. and, of course, it reached a record high back in march when we were talking about how high it was then. we've already passed that. pete, you're out there talking to drivers and seeing it for yourself firsthand how it's impacting everyday americans. what are you hearing? >> reporter: right now drivers really just want relief, because the prices are rising so rapidly. 4:39 at this marathon. earlier today it was 4.15. we've seen a huge increase in the span of one day. we have already exceeded the national average here. think about where we were a week ago. the national average according to aaa, 4 .20. a year ago it was sub $3.
$2.97. hard to think about when you see the super high prices. you know, a lot of folks really are just beginning to hunt around for prices, especially here in the cincinnati area. just over the line in kentucky, prices are a lot cheaper in the metro area. but aaa cautions if you're going out of your way to find cheaper gas, typically counter productive. >> and so let me ask you about a gas tax holiday which has been implemented in a handful of states. leaders from both parties see this as a potential solution. this morning cnn asked a white house official about doing that on a federal level. it wasn't ruled out. explain why this, though, is a double edged sword. >> you know, those who are against the gas tax holiday will point to the example at states. they call it robbing to peter to pay paul. at the state level it pays for roads and bridges and transit. at the federal level it's charged at the pipeline term nol, not the pump. it's set at 18 .4 cents a gallon.
so really, it would just negate the increases of the last week, and there are big questions because of how it's taxed about whether or not that decrease will be passed along to consumers at the pump. >> okay. thank you so much. pete, matt, thank you. let's bring in diane swok, the chief economist at grant thorton. he's also an adviser to the federal reserve and the congressional budget office. thank you for being here. do you think the president's plan will work? >> well, it's not going to take off the real problem, the steam off of inflation in the way that we really need to do it. that's on the shoulders of the federal reserve, and that's why you're seeing the federal reserve committed to raising rates, not just a half percent at one meeting but a half percent at likely the next two meetings as well. and getting up to at least a neutral rate and then going further on interest rate hikes, because they really have to bring -- campen demand down in order to bring it in line with
the supply constrained economy. >> just to be clear, though, how much of this inflation problem is in the president's control? >> not very much of it. i do think by eliminating some tariffs, you can actually al alleviate some of the inflation problems. that's different than the gas taxes which was well pointed out that that isn't the best solution. in fact, many state and local governments are now trying to blunt the blow of these higher prices at the pump and in grocery stores. and although that's good politics, because everyone feels the effects of inflation, it's not the best economics, because it could actually prolong inflation out there. there's a lot of issues that are completely out of the control like the war in ukraine. even the shortage of grain we're seeing coming out of the war in ukraine and, of course, the pandemic itself. on the flip side of it, we can't deny that exact stimulus did play a role in reducing inflation, most notably with the
big ticket purchases we saw during the pandemic, buying of vehicles was tied very closely to a surge in stimulus checks. >> here's what gets me. and i think a lot of americans. some companies are making huge profits while their prices are soaring. we've talked about the oil companies in the past just take tyson foods as another example, charging almost 24% more for beef just in the last three months. the price for chicken went up almost 15%. and at the same time, the company made $829 million in profit in the last quarter. that's way up from last year. how do you explain that? >> well, we haven't seen consumers -- we've generated 1.7 million jobs out there and demand has been strong as well. and that's one of the things that people sort of forget. they think without inflation adjusted wages going up, they actually aren't, that you can't get a wage push inflation. you can't get push of inflation in the labor market as well. and the reality is those prices
haven't seen the resistance that you normally would see if you weren't generating 1 .7 million jobs in one quarter alone. absolutely stunning kind of job growth. there's a lot more paychecks to the overall volume in the u.s. economy along with that, you see a huge rate of churn. also many of the companies paying the rate, a productivity growth and increasing costs of having to replace talent as they move. job hoppers, they get better wage gains than those who stay. that's another sort of double edged sword for the economy. you see a story of two economies out there, those who stay at their jobs and are loyal don't get rewarded as much as those who hop jobs. >> are the profits we pointed out trickling down to their employees? >> well, we are seeing wages have accelerated. that's the good news. not as much as we'd like to see. and i'm sure we'd like to see a lot more in terms of wage share
with more slower kind of employment growth. if we didn't have the churn in the labor market out there and the quit rate we do, if we had a more sustained recovery where things were more in line and not as red hot in the labor market but adding jobs which is where the fed was like to go, we could see a situation where we saw wage gains outpace inflation and living standards improve. i think one of the critical issues here is that inflation hits 100 % of households. unemployment only hits a few percent of households. you can have 95 % of labor force working even with an increase in the unemployment rate. that is not an easy comparison to make, but it is the political reality of where we are at is that everybody feels inflation, and certainly there are companies who have made increased money by just passing along increases. but remember yerks had more than four decades where companies couldn't do that.
>> okay. diane, i appreciate your expertise. thank you for helping us make sense of the economy right now. a scary warning from america's top spy. vladimir putin will likely escalate military action in ukraine. his forces are already decimating cities. so what could an escalation mean? and on the phone with 9-1-1. what we are learning about the final moments for an escaped inmate and corrections officer on the run as police gave chase. plus a baby formula shortage is only getting worse. what's being done about it. we're on it. you threw good money away when you bought those glasses. next time, go to america's best - wherere two pairs and a free exam start at just $79.95. can't t beat that. can't beat this, eitither. bookok an exam today at americasbest.com [zoom call] ...pivot... work bye. vacation hi! book with priceline. 'cause when you save more, you can “no way!” more. no wayyyy. no waaayyy! no way! [pne ringing] hm. noay! no way!
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more-esque la tory. that warning today from america's top spy, and it comes as ukraine's military says russia is enhancing troops along the northern border right now. katie is in washington for us. intel officials have testified on the hill this morning. more unpredictable. more usescalation. what do they mean? >> this was a grim assessment from the director of national -- she told lawmakers putin is preparing for a protracted or prolonged conflict in ukraine. and that the next few months of this conflict are likely to be as you say, unpredictable and escalating. those are the words that avril haines used this morning. this part, she said because u.s. intelligence believes that there's a mismatch inbetween putin's ambitions in ukraine and his actual military capability to get those ambitions achieved. so as haines described it, putin
may want to try to, for example, completely control the two provinces in the east where he's currently concentrating his fire power. he might even want to potentially try to extend a land bridge all the way to moldova. whether or not he is capable of doing that is an open question and something that intelligence officials are not entirely sure he's going to be able to do. so as a result, officials believe that there's likely to be some more ad hoc decision making in haines' words, coming out of moscow. take a listen to what haines said the outcome might be in a practical since in front of the committee. >> in the current trend increases the likelihood putin will turn to drastic means including imposing martial law, or potentially sklating military actions to free up the resources needed to achieve his objectives as the conflict drags on or if he perceives russia is losing in ukraine. >> you can hear haines emphasizing that there are some limitations to what the
intelligence community is going to be able to predict about putin's action in a moment in which his actions are becoming more unpredictable. >> katie, thank you for your reporting. also on the hill, a major push to get more help to ukraine. the house is expected to vote today on a nearly $40 billion ukraine aid package sitting in congress. a senate vote is likely next week. the president says this has to happen immediately, warning existing u.s. aid to ukraine could run out in just ten days. the u.s. ambassador to the united nations addressed the urgency today. >> both sides have been supportive of the president's initiative, and i think that they all understand that if we are not there to continue that support, what it would mean for the ukrainian effort to defend themselves against the russians. >> here's what's happening in ukraine right now. new horrific images of deadly strikes in the north and the south. in odesa this is a southern port
city, ukraine says russia used hyper sonic missiles striking two hotels and a shopping mall there, at least one person was killed. several others were injured in the southern port city, and in northern kharkiv, children's clothes, car seats, toys, all littering the road after an attack on this civilian convoy of cars. that was fleeing the violence. i want to bring in our military analyst colonel cedricla lleyto. walk us through the significance here of the attacks on the port cities? >> the fact that odesa is getting this kind of a targeting setup from the russians where they're using hyper sonics is a real mismatch of weapon to target. you know, hyper sonic missiles are basically designed for stationary military targets. they're designed -- they can be used in both conventional as well as with a nuclear warhead,
but these missiles are such that they really shouldn't be used for civilian targets like this because you don't need to evade the kinds of defense evasion tactics that they have, you don't need to use those for hyper sonic missiles. the hyper sonics can evade air defenses. they, of course, travel at more than five times the speed of sound. so they are very critical from an offensive missile capability. but they're also very much designed to go after like i mentioned, military targets. they are not designed to go after civilian infrastructure. and that's why there's a big mismatch here with what the russians are doing. it sounds like they don't have enough of the conventional weapons that they can use against odesa targets. >> we're also learning according to ukraine that russians are right now enhancing troops near the ukrainian russian border near the belgarad region.
>> this region is right here. this is -- it's right next to the ukrainian border. and when you look at where it is, it's right -- to the north of kharkiv, so what the russians are doing is they're basically putting everything up here. i'll go into a little bit of detail here with this. you can see that the ukrainians have actually pushed the russians back a bit to the north of kharkiv. so this is very important. the russians still control part of this area. there's a major road that goes from belgarad to kharkiv. that road is still partially under russian control. with the russians deploying troops here, and making sure that they are at this road junction and they're ready and poised to go in, they're basically sending a message to the ukrainians saying don't move forward, don't move into our territory. and they're also putting potential reinforcements at the ready to move into this area. so we could see a much larger conflict here in kharkiv than we
were expecting just a few days ago, because of the extra russian forces. >> colonel, we heard the warning from director haines who says this war is likely to become more unpredictable and escalating as putin seeks a victory of some kind. they pointed out a mismatch between ambitions and russia's current military capability. if there's a mismatch, can putin accomplish any kind of victory? >> short answer, no. let me show you something here based on the full map of ukraine. when we look at odesa which we just talked about in reference to the hyper sonic missiles, the russian goal on paper would be very easily to go this way, to the west, from the area around kherson and mykolaiv and move to capture odesa. that would be the imgoal, and i would make sense to soften up the target musing the missiles. look here, what we're doing is
if we were the russians, we would want to make that connection to transnistria where the russian separatists are. and what the russians would want to do is capture odesa because it is the third largest city, the major port. controls all the exports in and out of ukraine at the moment. it would be critical for the russians to do this and critical for the ukrainians to keep this port. the problem the russians have, they don't have enough troops or equipment to actually take care of this and move forward in this way. at least through conventional means. >> colonel cedric lleyton, thank you so much. it helps to get the lay of the land there. from inside the besieged plant in mariupol. a young woman, one of the soldiers trapped inside the plant appeared in a facebook message and speaking in ukrainian, the woman says, and i quote, azovstol is holding on
against the russians. while they are here, we are fighting to the last. she now serves as a combat medic. she was a music student before the war. and after a video of her singing the ukrainian army's battle hymn went viral, she became known as the bird on social media. ♪ ♪ >> there are thought to be several hundred soldiers trapped at that steel plant. was she the master mind behind the escape? we might never have all the answers. corrections guard vicky white is dead after she and a murder suspect set off a nationwide man hunt. what investigators have pieced together next.
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the whole thing, it just -- and then finding out she lost her life, it's just been a roller coaster. >> that is the latest from the sheriff in lauderdale county, alabama on the dramatic conclusion to an 11-day man hunt for inmate casey white and vicky white, the corrections official who helped him escape. police tracked them down in evansville, indiana. police received a chip. a chase ended when law enforcement crashed into the couple's getaway car flipping it over. authorities believe vicky white then shot herself in the car. she later died. casey white is behind bars and cnn is in evansville, indiana. that's four and a half hours from the alabama jail where this began, and the sheriff there just had a press conference, i understand. what did we hear? >> yeah. well, bottom line the sheriff in indiana said these two had a faulty plan, and they failed.
he also said that if their task force hadn't rammed the vehicle that casey white was in, that white apparently told investigators he planned to get into a shootout with officers, and at that point was when the sheriff showed us reporters what was recovered from the vehicle. multiple firearms, weapons including a rifle. there was also $29,000 recovered that the sheriff believes may have stemmed from vicky white's recent home purchase. also multiple wigs found that was used as part of their strategy on the run. this, of course, spanned multiple states, multiple vehicles. the crucial sighting came last week in evansville, when the ford pickup truck they were seen associated with was at a gas station. it transferred with a black cadillac. the cadillac was spotted at a motel less than a mile from here, and it was after officers saw them get into that vehicle
that that short chase ensued. we stopped by the motel and spoke to the manager about what he saw yesterday. >> the cadillac is parked outside. that car, we do not know who that belongs to, but we knew they were looking for that and some local guy's name. you know? and so that local guy was staying here. so we do not know these people are visiting that local guy or don't know. we do not know. okay? they are not officially guests of the hotel. >> now we pressed the sheriff on that latter point, and the sheriff said they believe casey white tried to get a hotel room and couldn't because they didn't have an i.d. and so they asked someone else else to get them the room for two weeks. the sheriff said no one else is under investigation at this point, and at this point they consider this case solved. >> omar, quite a dramatic week and a half. thank you. we are following another
disturbing discovery at lake mead. authorities have found a second set of human remains. you may recall less than a week ago a body was discovered in a barrel. what's even more disturbing is that police say it's more likely more bodies will surface as water levels at this lake drop to historic lows. nick watt joins us live from lake mead, nevada. authorities say the first set of remains were likely from a homicide victim. what more can you tell us about this and the latest discovery? >> reporter: well, absolutely. so this body in a barrel that was discovered nine days ago just by a boat slipway around the corner, the body in the barrel, it is now a homicide investigation las vegas police tell us. why? because that decomposed body, there was a gunshot wound. that is why it's a homicide investigation. they don't have a lot to go on.
they are dating it to the late 70s, early 80s based on the clothing the corpse is wearing which they traced to lines, shoots and clothing, i should say they traced to lines sold in kmart back in the mid to late 1970s. when the body was dumped, it would have been pretty much somewhere in the middle of lake mead, but levels have fallen so far that what was once the middle of the lake is now the shoreline. if you pan over, you can see just how far the water level has fallen. that change in color, the line, that is where the water level was and should be. and you see where the water level is now. it has fallen dramatically. now, you mentioned that other body that was found this past weekend, a skeleton, a human skeleton. police right now tell us they are not treating that as susp suspicious. and there are a lot of accidents on this lake. it is windy.
it is deep. the water is cold. people do drown here. so that second skeleton not being treated as suspicious, but they say they are expecting more bodies to wash up, to be found here. why? because there's no end in sight to that mega drought that is making this lake slowly vanish. >> well, that's creepy on a number of levels. nick watt, thank you. and this is now becoming a bigger problem for vladimir putin as he invades ukraine. you can see there, finland is on the verge of asking to join nato. why this is bad news for the kremlin. and two russian reporters appear to defy moscow's fierce crackdown on journalists telling the truth about the war. what happened next, coming up. r ought to come with newfound happiness and zero surprises. and all of us will stop p at nothing to drive you happy. we'll drive you happy at carvana.
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border with russia. what did you hear about people why they wanted to join nato now? >> reporter: they've had an uneasy relationship with russia for a long time. one of the reasons, if you will, that finland was never part of nato but was still part of the european union and very much militarily aligned with nato. the reason it never joined was because it had a nonaligned status that came out of world war ii that battles with the fight with the soviet union, and just in the same way the soviet union took over eastern blocked state of europe, that was the threat hanging over finland. they got out of it by being nonaligned. fast forward to the iron curtain coming down, the end of communism and all those east european nations join nato. but finland didn't. but when putin invaded ukraine, that was the trigger for people here to really realize that that could be them next. finland has an 830 mile border
with russia, and when you go down to that border, all you see for most parts of it is a small wooden and wire fence about waist height. that's not a safety guarantee. that's why the finns are looking to nato, for security and safety. >> that's interesting to hear about the fence. we're also learning that the u.n. general assembly elected the czech republic to represent them on the -- >> reporter: number one, it's a huge putdown. it was a huge putdown when russia was thrown off the u.n. human rights council in geneva, because russia likes being on those international bodies. it gives it international stature, to to be thrown off is a real slap in the face. for the czech republic, one of the european union nations, one of the nato nations that is in essence, facing off against russia in ukraine, the czech
republic supplied hundreds of tanks to the ukrainians to fight the russians, so putin watches now the czech republic, stepping up and taking their place where he'd rather his representatives were. >> nic robertson in helsinki, thank you for your reporting. in russia the kremlin's crackdown on any negative news coverage of the war didn't stop two reporters from taking a stand. they posted pieces on a pro-kremlin website, filling it with messages like as vladimir putin lied about russia's plans in ukraine and putin unleashed one of the gladdiest wars of the twenty-first century, a couple quotes from this post, anchor of "reliable sources" brian stelter is with us now. it's pretty striking given what we know of is happening in russia when it comes to the crackdown and flow of information. >> a shocking breach of the pro kremlin line. it was posted by business
editors. there were over 30 articles that briefly appeared before taking them down. we were able to read them. here are a few of the quotes in russia saying putin is a paranoid dictator. he started a senseless war and is leading russia into a ditch. they call putin a lying saying he lied about his plans in ukraine. third saying putin and his circle are doomed to face a tribunal after the end of the war. more than 30 articles. were the editors writing the articles waiting for a chance to somehow get them online, or is there something for complicated going on? we don't know. >> they posted this is going to be deleted immediately. take your screen shot. don't accept the status quo. it comes around to this followup question which is do the people there in russia want the truth? do they really know what the truth is?
any indication that it is breaking through? >> if you're in moscow or other cities and you really want to get to western outlets or any nonrussia state media controlled outlet, you can do it if you work at it. the use of vpn has exploded in russia. that comes with risks. there are grave risks from speaking out, spreading the kinds of claims that we saw in the messages. it does make some of the dakotas in the u.s. feel -- debates in the u.s. feel smaller because we can have the debates freely. >> great point. a building health crisis. the baby formula shortage gets even worse. the white house says it is zram scrambling to fix it. we have the latest. it's still the eat fresh refresh, and subway's refreshing their italians.
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a nationwide shortage of infant formula has a lot of parents panicking and manufacturers skram scrambling to respond. the fda is working around the clock to try the ease the shortage, but parents who rely on formula to feed their babies are understandably worried. >> unfortunately for me, i can't breast-feed my kids. i depend a lot on formula or else my kid can't eat. >> you would think it wouldn't be a problem to be able to feed your baby but now it's really scary. >> manufacturers say they are producing at full capacity and making as much formula as they can, but it is still not enough to meet the current demand. cnn's senior medical correspondent elizabeth cohen is joining us. this is so stressful for parents who are desperate, who want to make sure their babies are fed.
why are we here, still? what's causing this shortage? >> what's causing this shortage, ana, is that a major manufacturing plant located in michigan, there is an investigation into whether there's a link to some children getting bacterial infections. and so while they're doing that investigation, that plant is not up and operating, and when you combine that with some of the supply chain issues that we have had because of the pandemic, well, that is leading to these shortages. let's take a look at what these numbers are telling us. in april, 31%, that was the baby formula out of stock rate. 31% out of stock on grocery shelves. in may, that jumped to 40%. that is a huge jump in just a matter of weeks. and the result is that some stores are telling parents, hey, even if you can find what you want, which many parents cannot, but even if you can, we're going to limit what you're allowed to buy. so, for example, cvs and
walgreens say you can have three products and that's it. target says when you go online you can only buy four products at a time, although they do say that you can buy whatever you need or want when you're in their store. but ana, this is a real problem because i don't know if you remember this from when your children were little, if they took formula, kids often get used to a particular brand and when you try to switch them, you could have a screeching, very, very unhappy child on your hands because it makes their bellies hurt, and so we've been talking to parents who are just stuck in these very difficult situations with very unhappy babies. >> and if you don't have the formula, what do you do? what should parents do? >> you know what? there is not a whole lot that you can do. we basically have two suggestions for you. the first one, we can't emphasize this enough, the fda, the cdc, the american academy of pediatrics says, do not make your own formula. formula, like breast milk, needs to have a very, very specific balance of iron and vitamins and
minerals, and you cannot make that in your own kitchen. don't do that. what you can do is you can go to abbottnutrition.com/storelocator . they have a zip code locator. the parents we have been talking to say they feel it doesn't work very well. the locator says a product exists at a store near them but then they're disappointed it's not there. >> we want our parents to know we're going to stay on top of this and bring them as many answers as we can. thank you, elizabeth cohen. that does it for us today. thank you for being with us. i'll be back tomorrow, same time, same place. until then, join me on twitter, @anacabrera. the news continues after a quick break.
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-- captions by vitac -- www.vitac.com ♪ hello, i'm victor blackwell. welcome to "cnn newsroom." >> and i'm alisyn camerota. any moment now, president biden will sit down with italian prime minister mario dregi at the white house to discuss the russian invasion of ukraine and the global economy. >> now, here across the u.s., the president is confronting a critical moment in his economic strategy. gas prices hit a new high today, $4.37 a gallon. inflation is driving up prices for the basic needs. we're talking groceries, clothes, housing. today, the president s