Skip to main content

We will keep fighting for all libraries - stand with us!

tv   Katy Tur Reports  MSNBC  May 19, 2022 11:00am-12:00pm PDT

11:00 am
good to be with you. i'm katy tur. weeks into the baby formula shortage and there is hope in sight. some major moves in the effort to get food back on shelves. president biden is now using war time powers to ramp up supplied.
11:01 am
he invoked the federal production act. that will compel suppliers and manufacturers to boost production and ingredient suppliers will have to deliver to formula companies first before any other customer. president biden is also directing military aircraft and commercial airlines to import formula from abroad, something the fda has long stood in the way of. currently the fda bans most foreign infant formula, not because of health concerns about labelling issues. in the face of this crisis, the agency promises to hurry up their review process to expedite imports. on capitol hill lawmakers voted with overwhelming support 12-9 to pass a bill that would widen access to baby formula for families using the nutrition program for women, infants and
11:02 am
children known as wic. almost half of the babies born in the united states qualify for wic. when the shortage hit, many of the alternative brands or specialty formulas were not covered by wit benefits. now more family will be able to get help. lawmakers also passed a $28 million emergency spending bill to bolster food safety protocols at the fda. reporters home more funding will help get this to families soon. both bills now go to the senate. and speaking to reporters, speaker of the house nancy pelosi got heated when asked about possible objections to either bill. >> what's the objection? we don't want to spend money on babies who are crying for food? okay, let's have that debate, okay? >> joining me is nbc news senior national correspondent and weekly night news anchor kate
11:03 am
snowe and white house considered josh lederman. the defense production act will compel manufacturers and suppliers. how exactly does that work? >> i don't know the details, katy. i have to be honest. the white house says what they're going to do is sort of all hands on deck and they compel these manufacturers to get into the game. but i don't actually understand -- >> now that i ask that -- let me can you about the shortage itself. >> the shortage is dire right now. we're starting to see families having to go to hospitals. not a lot, i should be clear. we know of at least four cases a the a south carolina hospital, two cases in tennessee where babies ended up there in part because families could not get the formula, as you said, the specific formula that sometimes babies need, if they have an allergy to milk or soy and
11:04 am
families are struggling and some kids are ending up in nicu, pediatric intensive care units. >> wic not -- >> we looked into that. this is what i can tell you my understanding is. the states have different rules for wic, which is the support for women, infants and children. and, by the way, of all those who buy infant formula, katie, 68% are people who are on wic. >> that's a lot. >> that's a lot of people. each state does it differently. they've been given a usda waiver to say you don't just have to use essentially your coupon to buy this brand, you can buy other brands to try to help people be able to find something but not all states have done that. so what congress just did, the house just did is try to force more states to allow more people
11:05 am
who are on wic to get access to more brands. >> what have families been telling you? >> they're just so frustrated right now. they feel like they're doing everything they can. i talked to this mother in south carolina yesterday who has an 11-week-old who has specialized needs and they couldn't find the right formula for her. she said we were calling people in other states. she also made the point that they have enough privilege and financial resources to be able to buy online, which is what they ended up doing for a while. still didn't quite work. and i think people who are lower income, that's not even an option. it's very hard if the shelves are empty. the fda commissioner and josh will probably pick up on this, just testified to a house committee and during this testimony this morning said it's going to be better in a couple of days, that they think that things will start to improve -- >> couple of days. that is a good piece of information.
11:06 am
i want to play a little bit of sound of a mother you were speaking with before we go to josh. >> we had tried everything for her. um -- sorry. we need to have her on the most hypo allergenic formula to keep her out of the hospital. >> that's the 11-week-old. she's doing well. she had surgery on monday. what's today? thursday in she's not sure what they're going to do when she goes home. she's on a feeding tube and once you go home, they don't have the supply to give the parents to take home. >> it is so, so scary, josh. to hear this could be resolved in a matter of days is really wonderful news. what more can you tell us about that. >> >> reporter: well, i certainly think the administration is hoping there will be some progress in the
11:07 am
next few days to making improvements, but we're not expecting according to our conversations with administration officials that this entire problem will be over by the end of this week or even next week. in fact, some of the steps that the white house is now taking to try to resolve this are inherently going to take a little while to kick in. so when it comes to the defense production act, we're hearing today from senior administration officials who say, look, this is about ingredients that are in baby formula, some of which may change hands several times before they even make it to the actual manufacturer of the baby formula. and so the people who make, for example, the soy product or thele milk by product that goes into it, they may not know this is destined for baby formula, that they need to put that delivery ahead of other clients and that is where the invocation of the defense production act can really be effective. we're also getting new information in the last few
11:08 am
minutes, katie, about this operation sly formula that the administration is launching in which the u.s. government is essentially going to carry out an airlift of baby formula from a to be decided country overseas. the way it's going to work is the administration is going to identify manufacturers in other countries that have excess supply and then contract with an air cargo carrier to find some type of airfield near those manufacturers overseas, get the baby formula on board, fly them to wherever in the u.s. the manufacturer says they want it sent and then they're going to have to take a portion of it and have the fda test it on the ground in the united states before it's released to stores and put on shelves for consumers. you can see why that process would take a little while, but white house officials saying they do expect a lot of progress in the next couple of weeks and certainly they are hoping that within the next month or so they will largely have this under
11:09 am
control. >> that is good news. a month is a long time, though, if you've got a hungry baby. days sounds a lot better. kate snow, thank you so much and josh lederman, thank you for explaining it to us. >> by heart became the first new infant formula maker to earn fda registration in more than 15 years. they say its reliance on a small handful of players make it almost impossible for parents to get the food they need for their kids. joining me the president and co-founders of by heart. in full disclosure, we went to high school together, though frankly i had no idea you guys had this company, i had no idea you were being booked. i'm excited to talk to you. the baby formula production in this country relies on four
11:10 am
major manufacturers, for the most part. >> what does it mean to try and break in when you want to do things differently? >> thank you so much for having us here. this is so great. we launched by heart in an unprecedented time in the industry in the midst of a crisis for parents. i'm a mom of three of a 10-month-old, ron is expecting his second any day now. the idea of any parent not having access to food for their baby but especially formula sold for nutrition is just absolutely devastating. we're feeling really proud that at this moment by heart can show up and support parents and it's just one of five infant formula manufacturers in this country and that we can do everything we
11:11 am
can to support with high-quality infant formula. but we started five years ago, before a shortage with a commitment to innovating on the infant formula product and using the latest nutrition sign to be closer than ever before. our launch we anticipated, the product hasn't meaningfully changed in decades and parents needed better. we took a path that no new entrant has taken. we built from ground up, we own our end to end because we knew that if we were going to change it, we truly had to own it. so we acquired our manufacturer, source all of our ingredients ourselves, we own our product development and ran the largest clinical trial in the last 25
11:12 am
years. we're the first new registered in over 15 years. it's enabled us to make our formula from scratch and get closer to breast milk than ever before and prove that with a clinical trial. >> so there are three main types of baby formula. there's cow-milk based baby formula and and there's an issue with cow milk formulas for any babies with a milk allergy. and the same with soy, it can be hard to find the one that works for you. ron, talk to me about your product and how it fits into the equation. >> absolutely. this approach that we took is entirely different than any new
11:13 am
entrant in decades. and we wouldn't have been able to make the formula we set out to had we outsourced and utilized sort of expedited generic, complex like other new entrant. it really enabled true innovation. for example, we addressed the largest and then the most important gaps between formula and breast milk and that is protein with our patented blend that gets closer to breast milk than ever before. easy digestion, less spit up, softer stools, immune and gut support, more efficient growth. we did all this with the cleanest ingredients. it's the first instant formula to be clean product certified, only one to use grass fed milk and without ingredients you
11:14 am
wouldn't want in your own food, let alone your baby's. and we're the first new entrant that clinically proved our benefits in a major clinical study. they will be published in a medical journal and really demonstrating some of those benefits. we saw in the clinical let spit up, less gas, softer stool than another formula and now we're hearing that from testimonials and parents themselves with this overwhelming response to the well tolerated nature. >> let's talk about the million dollar question for parents out there struggling. inflation is really bad, they're having a hard time finding formula. over 60% of babies in this country are eligible for wic, for wic benefits. what's the price of your formula and how does it fit in to the industry? >> well, i'll first of all say that the wic program has been helping so many families for so
11:15 am
long. so we have a lot of respect for that program. but it's of course beholden to two major contracts. so really there's a limited provider dynamic. so now we see a situation where tens of thousands of families who need help are left with nothing. you know, we feel so incredibly strong about every parent having access to quality nutrition, which is why we built the open hearted initiative into our business model from day one. so every planned subscription, every parent who signs up to our subscription automatically contributes to the donation of formula and nutrition education programs for families in need. we've targeted donating over 5 million feeds over five years. we're working in partnership with baby to baby, who is
11:16 am
dedicated to providing children living in poverty with the basic necessities that of child deserves and we couldn't think of a stronger or more focused partner. so that donation program is really core to our company from the beginning. >> i know you've seen a lot of demand, especially in this moment of crisis. i guess it's a good time to get into baby formula history. and also a good time to have a more diversified market out there so we're not just relying on four major producers, especially if one has an issue. mia and ron, thank you very much for joining us. congratulations, ron, on your upcoming baby. congratulations, mia. you have three and i hear now you have a ten-month-old. amazing thanks guys. >> thanks for having us. >> coming up, the latest on the ukrainian war and a captive.
11:17 am
and primary day meets primary week. the pennsylvania gop vote is now so close, the race could be decided by a single voter. and later, a summer of pain. a nosedive in the stock market. what should you do? e stock markt what should you do this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking at your full financial picture. making sure you have the right balance of risk and reward. and helping you plan for future generations. this is "the planning effect" from fidelity. hey businesses! and helping you plan for future generations. you all deserve something epic! so we're giving every business, our best deals on every iphone - including the iphone 13 pro with 5g. that's the one with the amazing camera? yep! every business deserves it...
11:18 am
like one's that re-opened! hi, we have an appointment. and every new business that just opened! like aromatherapy rugs! i'll take one in blue please! it's not complicated. at&t is giving new and existing business customers our best deals on every iphone. ♪ ♪ lemons. lemons. lemons. lemons. look how nice they are. the moment you become an expedia member, you can instantly start saving on your travels. so you can go and see all those, lovely, lemony, lemons. and never wonder if you got a good deal. because you did. you're pretty particular about keeping a healthy body. what goes on it. usually. and in it. mostly. here to meet those high standards
11:19 am
is the walgreens health and wellness brand. over 2000 high quality products. rigorously tested by us. real world tested by you. and delivered to your door in as little as one hour. there are lots of choices an when it comes to youror internet and technology needs. but when you choose comcast business internet, you choose the largest, fastest reliable network. you choose advanced security.
11:20 am
and you choose fiber solutions with speeds up to 10 gigs available to more small businesses than any other provider. the choice is clear: get unbeatable business solutions from the most innovative company. get a great deal on this limited time price with internet and voice for just $49.99 a month for 24 months with a 2-year price guarantee. call today.
11:21 am
it is day 85 of russia's war in ukraine, and here is what we know right now. mariupol has fallen. many of the civilians in the azovstal escape with a humanitarian escort but many more inside that city did not survive. now we're getting a look at video you were never maengt to -- meant to see. i'm going to warn you these images are extremely disturbing. we debated whether to show you
11:22 am
but as this war drags on, we felt you that it is an important reminder that it is bad and we should be angry. the footage was shot by a medic inside the capital. she smuggled out her video on a tiny card hidden in a tampon as they fled during a humanitarian pause in the fighting. here is one moment of the many that she recorded. it's night. she and her team find a young brother and sister. the siblings were gravely would you knowed -- wounded in a shoot-out that killed her parents. she stands in a field as he begs her to stay with her.
11:23 am
she turned from the scenes and she sobs, "i hate this," she cries. the girl she believed at the time will survive. we don't know what the status of the girl is now. according to the a.p., russian soldiers captured yulia. both she and her driver are considered a forced disappearance for the a.p. the monitoring commission has recorded 204 such cases. there is fear some have been tortured. at least five have been found dead. joining me now is nbc news white house correspondent mike memoli and erin mclaughlin from kharkiv, ukraine. those images are tough to see and they are extra compelling because we were never meant to
11:24 am
see them. so few images have come out of mariupol because of the siege there. there are war crimes trials that are now starting in kyiv. what can you tell us about that? >> reporter: yeah, that's right. what we're seeing sort of countrywide right now is this push for justice and accountability for these alleged war crimes. we saw that trial in kyiv, the capitol, where a 21-year-old soldier pled guilty to shooting a ukrainian civilian, riding a bike on his cell phone, he shot him dead under orders according to the soldier of other soldiers traveling with him. he has now pled guilty and is convicted. we also saw war crimes trials here outside of kharkiv, about two hours outside, two soldiers pleading guilty to shelling civilian populations. what we're seeing really is a full court press by war crime investigators to get out to even the smallest of villages to
11:25 am
collect evidence to build cases, some 11,000 investigations now under way throughout this country. we were in a small ukrainian village about an hour outside kharkiv, which had been bombed in early march. russian warplanes flew overhead in the dead of night dropping seven bombs on one stretch of the village alone, falling on homes, killing three civilians and one military personnel. they thought the original target was a school where some border guard had been hiding but the russians managed to hit everything but that school including the home of one resident killing her 31-year-old son. she told me she has nothing left. take a listen. >> do you think there will be justice for you and your son?
11:26 am
>> reporter: she told me that her son was a construction worker and he would have helped her rebuild her home. now she's terrified of what the winter might mean for her and her family. there are thousands of stories like hers throughout this country right now, katy. >> thank you. let's look ahead. the president hosted the leaders of sweden and finland today. they want to join nato. they want to work out the problems with turkey so they can do so and now he's traveling to asia with that diplomatic wind at his sail. give us what we need to know about that meeting and what comes next. >> well, katy, it's really striking when you consider how you started your show talking about the latest in a very long list of domestic policy and political challenges for the
11:27 am
biden administration, the latest being this baby formula short and. -- shortage. but today the president does feel he has wind at his sails. the president welcoming two major european countries, the heads of finland and sweden who were not interested in joining nato until we saw russia's aggression in ukraine and with all that the president has folk $ on keeping our allies together only led to their interest in joining that alliance. the president welcoming them into the rose garden saying they more than meet the qualifications. then we have the president thanking congress, the bipartisan support for that latest round of ukraine security assistance, the president in that statement announcing that he was prepared now today to release even more security assistance for the ukrainians in the form of further artillery and radar, equipment that can be put to use very quickly to defend themselves. and then he's coming here to
11:28 am
asia to continue to focus on the strength of alliances of democracies in this contest he has said so often the 21st century will be defined by, autocracies versus democracies. a state visit with south korea and then moving on with japan who will meet their prime minister as well as hosting a meeting of the so called quad, all with an eye towards countering china's growing influence in the region. >> mike memoli, thank you very much. and erin mclaughlin, thank you very. the race for the senate could possibly be decided by a single vote. and georgia was a crucial state in 2020. what do primary voters there who have already been turning out in droves say they want for 2022? you could save with america's number one motorcycle insurer.
11:29 am
that's right, jamie. but it's not just about savings. it's about the friends we make along the way. you said it, flo. and don't forget to floss before you brush. your gums will thank you. -that's right, dr. gary. -jamie? sorry, i had another thought so i got back in line. what was it? [ sighs ] i can't remember. wealth is breaking ground on your biggest project yet. worth is giving the people who build it a solid foundation. wealth is shutting down the office for mike's retirement party. worth is giving the employee who spent half his life with you, the party of a lifetime. ♪ ♪ wealth is watching your business grow. worth is watching your employees grow with it. ♪ ♪
11:30 am
bipolar depression. it made me feel trapped in a fog. this is art inspired by real stories of bipolar depression. i just couldn't find my way out of it. the lows of bipolar depression can take you to a dark place. latuda could make a real difference in your symptoms. latuda was proven to significantly reduce bipolar depression symptoms and in clinical studies, had no substantial impact on weight. this is where i want to be. call your doctor about sudden behavior changes or suicidal thoughts. antidepressants can increase these in children and young adults. elderly dementia patients have increased risk of death or stroke. report fever, confusion, stiff or uncontrollable muscle movements, which may be life threatening or permanent. these aren't all the serious side effects. now i'm back where i belong. ask your doctor if latuda is right for you.
11:31 am
pay as little as zero dollars for your first prescription. for state controller, ask your doctor if latuda is right for you. only yiu will save taxpayers money. wait, who, me? me? no, not you. yvonne yiu. yvonne yiu. not me. good choice. for 25 years, yiu worked as an executive at top financial firms. managed hundreds of audits. as mayor, she saved taxpayers over $55 million. finding waste. saving money. because... yiu is for you. yiu is for you. exactly.
11:32 am
yvonne yiu. democrat for controller. miss allen over there isn't checking lesson plans. she's getting graded on her green investments with merrill. a-plus. still got it. (whistle blows) your money never stops working for you with merrill, a bank of america company. thousands of votes are still being counted in pennsylvania's republican senate primary. celebrity tv dr. oz is barely ahead of hedge fund manager david mccormick and with mail-in
11:33 am
ballots still coming in, we want to know who has the upper hand. we will ask dasha burns, who is at a ballot counting facility in chester, pennsylvania. dasha, tell us. >> reporter: katy, i'm having serious 2020 deja vu here. how many times did i come on your show during that election from a facility very similar to this talking about why we don't yet have an outcome here. both campaigns are showing some optimism. the mccormick campaign held a press briefing where they made their case for why they think they're going to come away with this things but we are still waiting on mail-in ballots and some day-of vote as well. behind me here, these four scanners here, these scanners will be looking at day of vote. some memory sticks had some technical issues. the day of vote here from four precincts in delaware county
11:34 am
where i'm at now are going to be counted. similar issues have cropped up in allegheny county and in philadelphia. there are still some day of left to count. behind these scanners. those folks i think just went on a lunch break. remember there's envelopes that the ballot was mailed in and then the secrecy sleeve. so they go through that twice. the ballot has to be unfolded, flattened, get ready to scan and those lovely folks at the computer are scanning those ballots and logging that data. and here we have some observers here, this is also typical for the process, observation area, there are representatives from democrats, from the oz campaign, from the barnett campaign.
11:35 am
election workers are not allowed to start touching the ballots until 7 a.m. the morning of the election day. we talked about how tedious the process is with the manual envelopes and flattening, that takes time and that can't happen until election morning. that is why we are still waiting and a lot of this is probably going to have to happen again because this is so darn tight. the election officials in this county and counties across the state are preparing to do a recount, katy. >> i was talking to steve kornacki this morning and there is about a thousand vote difference between mccormick and oz. it is very, very close. thank you very much. and it is not yet primary day in georgia but georgians are already seeing a record number of early voters. according to the latest fox news poll, current republican governor brian kemp is up 32 points, way out ahead of former
11:36 am
gop senator david purdue, even though donald trump is actively trying to get kemp out of office. >> elise jordan joins me now. it is so wonderful to see you. >> so good to see you in person. >> i'm very interested in what you heard. >> well, i was actually surprised because from the republicans that we spoke to in atlanta, they still really admire donald trump, they'd vote for him again if he were going to be on the ballot in the republican primary in 2024, but what his endorsement wasn't necessarily the be all end all. and brian kemp is still pretty popular. they perceive that donald trump just has some hurt feelings over what happened in 2020. >> so interesting the way that they can see him and trust him on absolutely everything except
11:37 am
for maybe something they don't really want to trust him on but they still give him credit. it's really odd. >> in this case with david purdue going really out there in the donald trump direction and donald trump leveraging so much political capitol, it hoes the limits of a trump endorsement. and big picture when i took away from these republicans and democrats is everyone's a little down on the state of america. republicans see dysfunction and they called biden a puppet and democrats really see a heightened input in just how much racism has impacted their daily lives over the past four to six years. the democrats we spoke to represent the atlanta electorate and it was primarily african-americans in this group of ten. and then the republicans we spoke to represent republicans in atlanta and they were all
11:38 am
white. so let's listen to what the republicans had to say about this primary and the state of america under joe biden. >> it's a crap shoot right now. i think with all the political -- with all the social media that we have that you can see at the click of a button, i think we are as a nation a joke. that's unfortunate because we are a power house. we do help other countries and other nations around the world and we're just -- we're a laughing stock i think, unfortunately. >> sara, i see you nodding. >> i'm embarrassed. i cannot believe who is the head of our country is not the head of our country at all. he's not a leader. he's a puppet. i worry about his mental stability. he hasn't done what he said he was going to do. so i really want to take these democratic voters and say are you happy now? are you happy now? >> i really feel like covid-19 was a big catalyst in dividing
11:39 am
people politically with democrats supporting the vaccine mandates and the mask mandates and then republicans were the opposite when it really didn't necessarily have to be that way from a health issue. >> a lot of it started when they started pulling down all the statues, the stuff about removing everything from history. and i think a lot of that started, in my opinion, started splitting it more and more. who's right and who's wrong and -- >> does anybody care that much about statues? >> history. they're wanting to take away that whole carving and there's been a lot of stuff out there at stone mountain. >> it was really a contrast in how republicans viewed race as a divider in their lives and then the democrats viewed race as
11:40 am
causing so much division. >> do they have an understanding of why the statues might be causing hurt? they represent slavery, they represent people being forced into working and not -- i mean, the ugliest thing this country has ever done. >> that's the south, katie. you will hear plenty of white southerners argue heritage, not hate. >> let's of countries have tash ep $. mississippi just got rid of the confederate flag as the state flag last year or the year before. >> it's interesting they identify with that and instead of saying it wasn't something -- let's all more on. >> something taken away. and then whereas you can when talking to democratic voters, african-american voters in atlanta, you hear how race impacts their daily life when it
11:41 am
comes to how a police officer is pulling over their son in a mercedes multiple times over and over and over. the racist language they have hurled at them that they say they never had, that it wasn't as permissive of an environment before. that is what you're hearing from voters. >> really interesting. this is what's affecting our politics, it's what's affecting -- even though you my not be agreeing with what the we'll are staying. >> elise jordan, thank you very much. good to see you. coming up, don't check the stock market but do stay with us as we explain what you need to know. and the alleged buffalo shooter was in court today. what he's so far been charged with and what other charges might come. might come we discover exciting new technologies.
11:42 am
redefine who we are and how we want to lead our lives. basically, choose what we want our future to look like. so what's yours going to be? i could've waited to tell my doctor my heart was racing just making spaghetti... but i didn't wait. i could've delayed telling my doctor i was short of breath just reading a book... but i didn't wait. they told their doctors. and found out they had... atrial fibrillation. a condition which makes it about five times more likely to have a stroke. if you have one or more of these symptoms irregular heartbeat, heart racing, chest pain, shortness of breath, fatigue or lightheadedness, contact your doctor. this is no time to wait.
11:43 am
11:44 am
your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description.
11:45 am
visit ♪ ♪ ♪i'm so defensive,♪ ♪i got bongos thumping in my chest♪ ♪and something tells me they don't beat me♪ ♪ ♪ ♪he'd better not take the ring from me.♪ the man accused of killing ten people in a racist shooting at a buffalo supermarket appeared in court today. inside he faced some of the victims' family members for the first time. the hearing itself lasted just a few minutes. he was indicted by a grand jury and ordered to remain in custody. in response to the shooting, the house passed legislation this morning to address the growing threats white supremacy and extremism. joining me from buffalo is nbc
11:46 am
news correspondent ron allen. when you faced the families, what was it like inside that courtroom? >> reporter: they called them by name and called them a coward. it was a very brief six-minute hearing to inform a judge had indicted him on one count of murder. a lot of people are asking why aren't there more counts. i think the only answer to that question is because the investigation is still very, very active. if you look behind me in the parking lot of the supermarket, there's a big crowd of investigators there, some wearing fbi jackets, others are not. they've been going in and out of the market today. there's still a lot to go through. they just released a statement as to when the market might reopen, essentially given no timeline, saying they'll repair the place as quickly as they can and acclimate the employees as quickly as they can but it's not
11:47 am
been turned over to them because the investigation continues. and investigators are poring through hundreds of pages and posts of online pages by the suspect. the official of the 911 call, a woman made a 911 call at the beginning of the scene, the market. a caller says that an operator hung up on her when she made this 911 call. take a listen. >> i tried to call 911 and i was whispering because i could hear him close by. when i whispered on the phone to 911, the dispatcher started yelling at me saying why are you whispering? you don't have to whisper. i'm trying to tell you he's in the store, he's an active shooter and i'm in fear for my life and she said something crazy to me and hung up in my face and hi to call my boyfriend and tell him to call 911.
11:48 am
>> the woman dropped her phone during the process and when she picked it back up, the operator wasn't there. the question is what if this operator had taken the call seriously. that individual has been put on administrative leave and effectively fired after a hearing at the end of this month. katy? >> that's just horrifying. ron allen, thank you very much. coming up next, we're going to go and talk about the stock market. what's happening today? what's going on with inflation? what's going on with the economy? what does it mean for you? stay with us. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking at your full financial picture. making sure you have the right balance of risk and reward. and helping you plan for future generations. this is "the planning effect" from fidelity. homegrown tomatoes...nice.
11:49 am
i want to feel in control of my health, so i do what i can. what about screening for colon cancer? when caught in early stages it's more treatable. i'm cologuard. i'm noninvasive and i detect altered dna in your stool to find 92% of colon cancers, even in early stages. early stages? yep, it's for people 45 plus at average risk for colon cancer, not high risk. false positive and negative results may occur. ask your provider if cologuard is right for you. consider it done. you're pretty particular about keeping a healthy body. what goes on it. usually. and in it. mostly. here to meet those high standards is the walgreens health and wellness brand. over 2000 high quality products. rigorously tested by us. real world tested by you. and delivered to your door in as little as one hour. miss allen over there isn't checking lesson plans.
11:50 am
she's getting graded on her green investments with merrill. a-plus. still got it. (whistle blows) your money never stops working for you with merrill, a bank of america company.
11:51 am
11:52 am
the dow is down slightly toe, but it's nothing like yesterday when is suffered its biggest point drop since 2020. consumers are getting spooked by inflation, and investors are pulling out their money. all of this is adding to fears of a potential recession. joining me now cnbc commentator ron ansana. it's a scary world. tell me what's going on? >> it is, it can be a scary word. when people are worried about it, katy. the stock market tends to anticipate future economic
11:53 am
problems. and so over the last several days it's become increasingly apparent that the federal reserve will raise interest rates enough to quell inflation are, but maybe so much so that the economy could slip later in the year until recession. that's why the market's been selling off, you have big retailers like target and walmart delivering disappointing results and all of that has got ton consumer behavior and all of that is where we end up six 0 nine months from now. >> so, if you're budgeting for the summer, what should be you be taking into account? >> well it doesn't look like gasoline prices are coming down anytime soon. of course, that depends where you live in the country. los angeles, you're pushing $8 a gallon, believe it or not. washington state is talking about the possibility of $10. but if you're in some states that are refining capacity or big refining operations the
11:54 am
price is lower. the national average at $4.70 is the highest it's been so that cuts into consumer spending. it does appear from target and walmart people are buying luggage so they're planning to take summer vacate nations and so they're planning to fly rather than drive. essentials are important. so food has been purchased in more bulk and basic goods and services over consumer electronics, for instance. those things are being substituted by consumers. so, it's kind of typical, you know, end of cycle behavior when the fed is raising rates, affecting housing prices, car prices and thing like that. that people begin to retrench. although, i should point out, the consumer is still spending. they're just spending on different things right now. >> so we are in a correction with the market. are we headed towards a bear market? >> yeah, bear market. the average stock is down 25%. half the nas da 50% or more. a quarter of the nasdaq down
11:55 am
70%. so, we've seen stocks come down you get into the semantic game on wall street if the s&p falls 19.9% it was a correction not a bear market defined by a 20-% drop. we've seen that five months now. it's safe to say it's a bear market also not -- >> i'll say what i always hear which is if you have no reason to take your money out for an imminent reason, leave it in. don't touch anything. >> and if you put money that you need imminently in the stock market that's a fundamental mistake of personal finance. if it's document payment money or emergency money, that's not in the stock market. >> ron insana, thank you so much, i'm sorry for cutting you off. i have a big good-bye to do right now. before we go, some bad news for all of us, but some very happy news for pete williams, our longtime justice correspondent who is retiring later this
11:56 am
summer. pete has been at nbc news for just shy of 30 years. as you well know because you guys are part of our family, too. he is the one person you want by your side when the rundown gets tossed into the air. i speak from experience. when you need someone say the mueller report or endless doj indictments to give you steady and rei believe accurate information during breaking news like 9/11 or the boston marathon, or translate or put in context, supreme court decisions that change the country like marriage equality, citizens united, or marbury versus madison -- kidding. throughout his career, he was first bite a bit, including on the imminent retirement of justice stephen breyer. most importantly, though, pete williams is a good dude.
11:57 am
i can say that from experience as well. so while we and our coverage will miss him dearly, we want to wish him well. after all, it's hard to turn away from that red on-air light, most of us don't get to do it on our own terms. we're thrilled whatever is on the other side for pete. please do send dispatches, tell us how it is. pete williams, my friend. congratulations and good luck. that's going to do it for me today on this sad but happy day. hallie jackson picks up our coverage, next. is growing, and the world needs lower carbon solutions to keep up. at chevron, we're working to find new ways forward, through investments and partnerships in innovative solutions. like renewable natural gas from cow waste, hydrogen-fueled transportation, and carbon capture. we may not know just what lies ahead, but it's only human... to search for it.
11:58 am
(woman) oh. oh! hi there. you're jonathan, right? the 995 plan! but it's only human... yes, from colonial penn. your 995 plan fits my budget just right. excuse me? aren't you jonathan from tv, that 995 plan? yes, from colonial penn. i love your lifetime rate lock. that's what sold me. she thinks you're jonathan, with the 995 plan. -are you? -yes, from colonial penn. we were concerned we couldn't get coverage, but it was easy with the 995 plan. -thank you. -you're welcome. i'm jonathan for colonial penn life insurance company. this guaranteed acceptance whole life insurance plan is our #1 most popular plan. it's loaded with guarantees. if you're age 50 to 85, $9.95 a month buys whole life insurance with guaranteed acceptance. you cannot be turned down for any health reason. there are no health questions and no medical exam. and here's another guarantee you can count on:
11:59 am
guaranteed lifetime coverage. your insurance can never be cancelled. just pay your premiums. guaranteed lifetime rate lock. your rate can never increase. pardon me, i'm curious. how can i learn more about this popular 995 plan? it's easy. just call the toll-free number for free information. (soft music) ♪ another crazy day? of course it is—you're a cio in 2022. so what's on the agenda? morning security briefing—make that two. share that link. send that contract. see what's trending. check the traffic on your network, in real time, with the next generation in global secure networking from comcast business. lunch? -sure. you've got time. onboard 37 new people, with 74 new devices. does anybody have any questions?
12:00 pm
and just as many questions. shut down a storm of ddos attacks. protect headquarters and the cloud. with all your data on the nation's largest ip network. whoa, that is big. ok. coffee time. double shot. deal with a potential breach. deal with your calendar. deal with your fantasy lineup. and then... that's it? we feeling good? looks like we're feeling good. bring on today with comcast business. powering possibilities™. ♪♪ as we come on the air, we're following a big promise from the fda and whether the agency is going to be able to keep it. you've got the commissioner on capitol hill today saying the country's baby formula shortage should ease up in the next few days. looking at a return to normal within a matter of weeks, good news if it happens but some lawmakers a


1 Favorite

info Stream Only

Uploaded by TV Archive on