edward lawrence is life of the white house with the latest, edward pray.

edward lawrence is live at the white house. good afternoon, edward. >> good afternoon. president joe biden speaking in hartford, connecticut. he's arguing for more government spending but he's not said how that will interact with inflation or the supply shortages you're seeing. he did say this. >> i wanted to come here today because too many folks in washington don't realize it's not enough to invest in physical structure. we also have to invest in people. that's what the second bill does. >> he's pushing his entire package, 5.5 trillion or less if there's negotiation. but you can see there, we can see the inflation outpacing wages, especially those making minimum wage. that's why people say this retreat by chief of staff ron klain is tone deaf. they say it's in high class problems. the man that wrote that original tweet, jason furman backs up what he wrote. listen. >> one is inflation is real. inflation is creating a problem for families that we should do something about it. number 2, the reason we have this inflation is actually a good reason. the unemployment rate ha

a lot has changed over the weekend, edward lawrence following live from the white house. edward? reporter: hey, cheryl yeah, the middle of the drama here, so to speak, the president came out saying he cannot guarantee the u.s. will raise the debt ceiling by october 18, that's the date that treasury secretary said that the u.s. will then struggle to start paying its bills. now, he said as he spoke for about 10 minutes, he called on republicans to come to the table, and help him over debt. >> the reason we have to raise the debt limit is in part because of the reckless tax and spending policies under the previous trump adminitration in four years, they incurred nearly $8 trillion. reporter: so i guess he's talking about the debt ceiling or the debt during covid. all that spending for the cares act, a lot of that came in 2020 that increased the deficit by $4 trillion in 2020 so republicans are saying democrats control all of government so they could raise the debt ceiling on their own. the president, on his overall spending agenda, says that he has 48 senators and he needs 50 senato

edward lawrence good to see you. to be clear the last time we tapped the strategic reserve was 10 years ago. it was because of supply disruptions in libya. that move was coordinated with other countries around the world. joining us texas congresswoman beth van duyne, house transportation, infrastructure. phil flynn is back with us, with the price futures group. congresswoman, first, what is your take on tapping the spr? that is seen as political. what do you think? >> i think it is crazy to do that. admit you made a mistake, that the admin -- administration made a mistake. closing keystone pipeline, increasing opec requests, by having part of their you know, trillion dollar spending spree include increases on the natural gas tax, stopping any kind of flow of gas, oil production and gas production on federally owned lands. admit that has caused inflation. increased gas prices. it has weakened our national security. and it has weakened the national security of countries around the world now because of instead of being

charles: edward lawrence, thank you so much. joining me now, advisor group chief market strategist phil orlando. phil blanc caught toe -- this is such an amazing story. miss omarova wears disdain for wall street on her sleeves. she went to moscow university, state college or city college, whatever you want to call it and she really does believe the soviet union's economic approach is better than ours and we're going to put her in charge of banks. how crazy is this? >> it doesn't make a lot of sense. in the end this will not get through the nomination process as soon as you go on other side of it. more importantly what person would want to use the federal reserve as their bank and borrow money from them? ballooning the government bureaucracy, making it worse in a system that worked extremely well. we had mistakes along the way but nothing to this extent. i don't understand the nomination. don't understand why is makes sense. one person couldn't make this impact anyway but -- charles: but it wouldn't be one person though. it would

edward: ken paxton, thank you for your time. i'm edward lawrence in for bleblgd macdonald. you're watching "the evening edit." that does it for us. have a great weekend. ♪♪ larry: hello, everyone. welcome to "kudlow," i'm larry kudlow. joe biden and nancy pelosi were force ifed once again to delay a vote on infrastructure as moderate can and progressive democrats remain at odds over the spending bill framework. hillary vaughn live on capitol hill. good evening, hillary, what's cooking? >> reporter: good evening, larry. you are having dÉjÀ vu because this is the second time that democrats have

cheryl: the moderates have made their wishes known and their voices are very loud right now edward lawrence, thank you very much. bitcoin crossing the 50000-dollar mark for the first time in a month as stocks enter october on shaky ground it's real volatile but the original crypto a safe bet? former fdi chair sheila bair earlier in the year warned it was at nosebleed levels is here with the current risk assessment, she is next the markets, different from yesterday, the dow erasing all of yesterday's losses and then some for up 448, s&p up 60, nasdaq 268, we'll be right back. ♪ as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com your shipping m

lauren: edward lawrence thank you very much. let's get reaction, kaltbaum capital management gary kaltbaum is here. okay, so a banking regulator that hates banks i guess is how you sum it up. what would it mean for the economy, gary, if she is indeed confirmed? >> what amazes me, there are 200 million adults in this country and this is what they pick to run and regulate and supervise the whole banking industry. a woman who praised the soviet economic system over us. by the way something edward did not say, she wants price controls by the fed, meaning if things get out of whack in oil, in materials, in food, you name it, they go into the price control system and you know what happens then? i do not think she gets through. if she does, it is bad news because if you ever get those type of policies in effect, forget about it. they want to control deposits, move them from one place to the other. i think this fits in, in what we are seeing when they're talking about they wanted to look at our 600-dollar movements in our banks. we are

liz: although it feels like we're closer, edward, interrupt us if you get anything more, edward lawrence live from washington d.c. so, it is pretty evident that the biden spending framework is juicing the broader markets and giving the bulls enough energy to high jump over what was not such great news this morning, the first print on third quarter gdp, the number came in at 2% below the 2.7% forecast, and way below the second quarter 6.7% growth number. add sizzling earnings though into this mix, and it overtakes the negative news and you've got a winning market look at merck sitting at the top of the dow 30 the pharma giant hitting a two- year high after reporting it sees up to $7 billion in covid-19 drug sales, you've got merck up 5.5% flip it over to caterpillar, on the dow, cats profits doubling in the third quarter. would have been higher if not for supply chain problems. everybody complaining about supply chain, right? the heavy machinery company see ing strong demand for its earth moving equipment, even if it's forced to raise prices again, you've got cat up 3.5% and ford, look at

lawrence has been working the story breaking all kinds of news he's got the details, edward? reporter: liz, the president just said this could be a game changer, related to going to that full 24/7 in the whole supply chain from up to down, you know the president announced that the port of los angeles, today, is going to start moving towards 24/7 operations and service. you see the president still speaking right now. the white house says the president also got ups and fedex to move to 24 hour service that list also includes walmart, target, samsung and home depot, to ship those services, in a 24/ 7 fashion. the administration believes that those six companies can move 3,500 additional containers per week through the end of the year now senior administration official tells me the move to 24 /7 service will fix the supply chain issues so i ask, how long will that take? the official after the pandemic until the pandemic is over, will see disruptions in the global supply chain and we're not talking weeks we're not talking months. still, the white house press sec says this is actio

edward lawrence is at the white house with more for us. reporter: jackie, industry groups say the president can point finger all they want but the supply chain issues will not be sorted out until well into next year. the white house making the announcement yesterday, today moving on. the president spoke about need to push back and did this when reporters wanted to ask about the supply chain and inflation. >> thank you very much. [reporters shouting questions] reporter: vice president for the consume brands association says we're already behind the curve. so any emergency moves made will cost extra which could in turn add to inflation. >> the cost of inputs has been record breaking for months now and ultimately yes, we are seeing prices start to edge up for consumers that is not a place anyone wants to go. i know our industry works very hard to make sure they don't pass stuff on but we're at a point aluminum is up almost 100%. corn up 115%. this stuff is going to create bigger problems down the line. reporter: for businesses this is crisis

edward lawrence with more pain >> the fourth straight months that the cpi is above 5%. 5.4%. match that with the average hourly wages, going up over the past 12 months 4.6%. that gap means you might be making more about the cost of the stuff that you buy is going up more than the money you're making. the atlanta federal reserve president in the first federal reserve president is a inflation is not transitory. he says it will not be brief. the white house cannot guarantee when inflation will get under control. >> i would note that we have seen a decrease over the course of time and that still evident if you look month-to-month with the data that came out this morning. between the second quarter second quarter an end third quarter, monthly inflation increases have decelerated. >> people feel that the year-over-year increase, the backlog and ports in california plays an impact. the rising gas prices. the pandemic shutting down plants. the former home depot and chrysler ceo says he believe inflation will get worse from here. >> look at the situations. they are not getting better.

lauren: well edward lawrence, thank you very much. coming up, the markets rocking it since the start of the year, but have we reached what we call peak growth? our countdown closer says the markets best day may still be ahead so i guess we haven't hit peak growth. let's check the big board, you can see , well, saving just a little bit as we head into the close, the dow had been higher by nearly 560 points, it's now up 340 points. we'll be right back. flexshares etfs are built with advanced modeling. to fill portfolio gaps and target specific goals. strengthening client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. everyone remembers the moment they heard, “you have cancer.” how their world stopped... and when they found a way to face it. for some, this is where their keytruda story begins. keytruda — a breakthrough immunotherapy that may treat certain cancers. one of those cancers is

liz: edward lawrence thank you. joining us new york congresswoman nicole malliotakis and florida congressman greg stuebe. congresswoman, we have shortages of groceries stores, computer chips, port congestion. how much is the white house to blame here? >> look they passed a 1.9 trillion american rescue plan that was supposed to put people back to work and it actually did the opposite t actually disincentivized work and production. that is part of the problem we're seeing here. there are a number of causes but a big part is labor shortage. that was the result of the president and the democrats wanting to pay people more to stay home than to come to work and produce and so you have lack of warehouse workers, lack truck drivers an you're seeing a major issue here. the other thing is the supply chain that we rely on so many other countries, that we're not manufacturing here in the united states, he said he wants to build in america but we're not seeing any steps to go in that direction. i think that the is the other thin

we begin with edward lawrence at the white house. reporter: neil, in about an hour and 45 minutes president joe biden will meet with ceo's from up and down the supply chain. the white house announced they broker ad deal with the port of los angeles to run operations 24/7, 24 hours, seven days a week. a senior administration official telling me they are working with safe to expedite truck driver training programs in order to get more drivers on the road. that is a very long-term solution. we've been dealing the supply chain issue for most of the year. i asked the white house what took so long to get all the groups together. you said june the supply disruption task force was assembled. i'm curious why it took so long for the president to get together with the two port heads and shipping companies to figure out what is wrong with the supply chain issue? >> i would say that the president has, the supply chain task force has been working around the clock for months and months now to address a range of different issues that we see in the s

neil: you are good, enough said right there, think you edward lawrence very, very much we did tell you about the supply chain disruption in the show and then you hear edward outline it, the president has a plan to keep the port open 24/7, my next against a republican and democrat joining forces to go beyond just that, the california democrat, we also have dusty johnson the south dakota republican, very good to have you, i will try to keep the adele analogies to a minimum but congressman, what is this all about. >> there is to very, very important issues simultaneously, first of all the congestion at the port, you talked about biden 24/7, other things can be done to deal with the congestion, what representative johnson and i are working on is the other side of the problem that is how do we get american goods and services onto the ships so commerce can reach the rest of the world right now this blockages in the export of american exports that's where were going where are ocean shipping reform act 2021 and the good fortune for me and able to work with an extra ordinary individual who has

first, we go to fox business correspondent, edward lawrence. hi, edward. >> yeah, the administration, the white house blaming hurricane ida for this. blaming the surge in demand, the economy is reopening. anything but the change in policies. republicans say you can't blame it on changing the policies for drilling on new lands. john barrasso said "instead of releasing oil from the nation's strategic reserve and begging opec and russia for more oil, the president should abandon his attempts to end oil and gas leasing on federal lands and waters." senate ron johnson says this president has made us less safe. >> so the more you inflict harm on america's energy sector, the more that russia and the middle east is going to benefit from our weakness. of course, that is the definition of the biden presidency. a weak america. crisis after crisis. >> you said it at the top. average price for gas, $3.24. a 48% increase from a year ago. the white house looking at opec to bring prices down. >> we've taken steps to reach out to opec and ftc to monitor the gas

back to you. >> sandra: edward lawrence reporting live from the white house. thank you. mike? >> let's bring in mike from jkc trucking. he manages hundreds of tractors and trailers for a number of fortune 500 companies. great to have you, sir. >> thanks for having me. >> mike: so there's concerns about the possibility of a system collapse in the supply chain. what are you seeing? >> yes. so we have a couple of issues. there's not enough capacity to move all of this product. we're having a historic driver shortage. these are the -- the ripple effects caused by the shut down of the economy. the driver shortage has been intensified. 20 to 25% of all truck drivers are missing. we need multiple drivers. the biggest issue is taking longer to unload. we're missing warehouse people at these locations we're going to. longer to unload equals lost time equals lost revenue causing a backup of trucks. disrupting the supply chain to deliver the food in a teamly matter. retailers are struggling to replenish inventory as fast as they're selling it. for the holiday shoppers will see bare shelv

neil: edward lawrence with more on that, the capitol hill correspondent, the little bit of a reprieve on the debt ceiling deal, the house is going to vote but they are not out of the woods by any means. >> no way, this was a long night last night waiting to find out what would happen and the bottom line is congress will raise the debt ceiling by half $1 trillion just to keep the lights on, to keep the country from defaulting for eight weeks. it is a temporary fix, temporary deal stuck between democrats and senate minority leader mitch mcconnell who was originally pushing democrats to go at it alone using a tricky process of reconciliation to get this done but in the end the two game together and got the 60 votes, 11 republicans joined democrats. what happened to the rest of the republicans? they are angry. many republicans into including lindsey graham and donald trump see this as caving to democrats when they feel they had all the bargaining power in this but this could be advantageous because it extends the chaos for democrats, kicking the can down the road to december 3rd when demo

thank you for that, edward lawrence, good wrap up. i want to go to steve moore on the significance of the president indicating he will go to capitol hill himself to see what's happening and maybe try to twist some arms. i know donald trump would do that and other presidents have done that to make sure they can close a deal. what do you make out where we stand now with this, steve? >> well, as you know i'm probably one of the loudest opponents of this bill in the country. i think this bill is a disaster, so from that point of view, this last week was a total disaster for the democrats. it was a train wreck. and they can't seem to get the debt ceiling bill passed and now it looks like they will have to put that in this 5 trillion-dollar reconciliation bill, which makes it really difficult to pass. you have got signed a circular firing squad in the democratic party right now and what's really interesting about this is republicans, neil, are pretty unified. they are pretty unified data saying no to all of this, we don't need trillions of

neil: edward lawrence thank you my friend. jared levy, delancey strategies president. jared was noticing inflation was bubbling. it will bubble for a lot longer. i wonder if that alters your market forecast? >> you know, neil, again there is two sides to this argument. you just talked a lot about how companies like mcdonald's. mcdonald's had a banner year in sales because they were able to hike prices here domestically. we're seeing that across the board. there are two things happening. price hikes that consumers are digesting. why? we're flush with cash. a lot of stimulus. the other thing happening right now inside of the corporate, if you look at the inards of the corporation, okay, people don't want to come to work? we'll retool. look at microsoft. look at google. look where earnings are being der required from cloud services and a.i. companies are retooling, figuring out ways to work, with less employees, not without employees but with less employees. they're retooling. they're cutting the fat. they're getting margins in figure. spending tech with tech companies re

first, fox business edward lawrence with what is driving people out of the work force. edward, good afternoon. >> yeah, trace. a big problem between the disconnect over the facts as well as the word. the unemployment rate that president biden saying was a huge success. now at face value, look at it, the last time it went under 5% was september to october of 2016. long time ago. 4.8% look good right now. but president biden taking ownership of this. >> unemployment rate is now below 5% at 4.8%. today's report as the unemployment rate down to 4.8%. a significant improvement from when i took office and a sign that we're moving forward. >> the problem is the reason it fell is not because of a massive amount of people going back to work. it's because 183,000 people dropped out of the labor force. that happens when people get discouraged and stop looking for work or retirement. president joe biden creating birth-to-grave assistance program. exactly what he wants to do in his build back better program. critics say that will remove the incentive to work and also an incentive --

neil: that is incredible, thank you very much, edward lawrence following the development i want to go to jonathan hoenig, i think i'm in the middle of all of this, the default is to sell and ask questions later, is this overdoing it? >> when it comes to the debt, not at all what we should be worrying about as investors not a one-day collapse like we see today, is not a one-day collapse but the impact in the debt over the long-term government debt and government spending hurt the economy, this is not my estimation this is the analysis heritage had a wonderful piece showing governments with high debt with one point to percent without that debt go at 3.5% that's a major difference over the long term but even the shorter-term has higher interest rates, higher inflation in both of those in today's economy right here right now but altogether you see lower stock prices, lower growth, higher debt, higher inflation this is what joe biden spending is doing. neil: there's a lot to be said with the confusion and not able to work with each other on this or host of other matters, i beginning to won

i'm edward lawrence in for elizabeth macdonald. "the evening edit" starts right now. edward: we begin with the democrats latest plan, free and two trillion dollars does not add up they will have to add a new way to pay for president paid's massive spending agenda. enter the billionaires tax. the proposal is getting pushback. some say it's in. some say it's out. critics saying it is too complicated to implement. hillary vaughn joins us from capitol hill to sort it all out. reporter: edward, democrats are getting desperate scrambling to come up with the cash to pay for president biden's social spending package after a lot of tax hikes are getting taken off the table. a new tax hike to the billionaire income tax is getting mixed reviews by some moderates. >> i don't like it. i don't like the connotation that we're targeting different people. there is people that basically, they contributed to the society, create a lot of jobs, invest a lot of money, give a lot to philanthropic pursuits. reporter: prompted house democrats to say the billionaires tax is dead but it may liv

i'm edward lawrence in for elizabeth macdonald. "the evening edit" starts right now. edward: we begin with president biden really wanting to push his massive spending agenda across the finish line. what is in, what is out and where does the bipartisan infrastructure bill stand? frustration running high as democratic infighting continues. progressive caucus members will not vote for the infrastructure bill until the spending bill is ready. time running out for the president. hillary vaughn has all the reaction digging deep into this. sort this out for us. reporter: edward, white house wanted to send president biden off to europe with a win, bipartisan infrastructure bill in his back pocket. amid the confusion today, everyone wants to know if that vote happens at some point today or even tonight but speaker pelosi earlier would not say. >> madam speaker, madam speaker? >> thank you all. reporter: are you holding a infrastructure vote today? have you made that decision? >> the president came to the hill what he thought was a deal. he walked into the house democrats morni

lawrence is following all of the action you need a scorecard to keep up on what is happening. >> even a flowchart everything is moving so quickly within this hour senate minority leader mitch mcconnell will take to the floor and talk about that proposal he has given to democrats. the proposal to suspend or raise the debt ceiling to a certain number fox has been told that certain number has been given to democrats we don't know what that number is or they can suspend the debt ceiling but just until november, through november into december which sinks it up to the government running out of money here's the white house president biden had a meeting with corporate ceos and big bank ceos, you can see them they're all talking, the meeting was meant to put pressure on republicans for the businesses in the president blaming republicans. >> we have the votes, democrats are willing to step up and stop this economic catastrophe if senate republicans would get out of the way. but i senate republican friends are planning to block the vote. >> there may be a deal he was backed up by the citibank ce

lawrence is live from the white house with the latest. edward? reporter: sean, the president could speak actually any minute

lawrence has reaction from the biden administration. >> president joe biden putting a positive spin the last time the economy created fewer than 194,000 jobs was december of 2021 actually lost jobs, president joe biden same his plan is working and what we need is more government spending. >> the job creation in the first eight months of my administration is nearly 5 million jobs, jobs up, weight is up, an appointment down, that is progress and is attributed to the hard work of the american people. >> on the other side the reason that the unemployment rate drop is because 183,000 people dropped out of the workforce, wages are up 4.6% over the past 12 months cpi inflation is up 5.3% year-over-year, you are making more but able to buy less, 1.1 million jobs added back to the economy in july, 366,000 jobs added in august, 194,000 jobs added in this report, you see where this is going the labor secretary holding the party line. >> the plan is working nearly 5 million jobs since president biden has taken office we are still working to get the vaccine mandate the more inward people to get

edward: ken paxton, thank you for your time. i'm edward lawrence in for bleblgd macdonald. you're watching "the evening edit." that does it for us. have a great weekend. ♪♪ larry: hello, everyone. welcome to "kudlow," i'm larry kudlow. joe biden and nancy pelosi were force ifed once again to delay a vote on infrastructure as moderate can and progressive democrats remain at odds over the spending bill framework. hillary vaughn live on capitol hill. good evening, hillary, what's cooking? >> reporter: good evening, larry. you are having dÉjÀ vu because this is the second time that democrats have blown past a deadline to pass the infrastructure deal because democrats were deadlocked. and it wasn't because there wasn't a lot at stake. president biden himself pleaded with democrats yesterday at their meeting telling them this, quote: i don't think it's hyperbole to say that my presidency will be determined by what happens in the next week. i need you to help me, i need your vote. but progressives didn't budge. instead, they flexed and said even with this legislative text, i

edward lawrence from the white house what is administration doing about the shortages? >> the private sector there telling them to step up or they're going to call them out to former treasury secretary larry summers says lawmakers need to stop focusing on being woken put more attention on the surging inflation into him and feels like the stagflation the beginning of the 1970s crisis, adding to that retweet by white house chief of staff wrong claim in an economic advisor saint it's a high-class problem, himself or several million dollars per financial disclosures this is how the secretary context to the retweet. >> we are at this point because we made progress in the economy and what would be worse in our view is the unemployment rate is at 10% people out of work hundreds of thousands of people were still dying of covid and people were able to lose our homes, that's a full context. >> when you go to the grocery store the gas station everyone feels pain more than they did enter the last demonstration the man who wrote the original tweet spoke to fox news he's not backing

now edward lawrence has much more he is at the white house good to see you. >> lesson economy had fewer than turning the overall job gain saying this the reason we need more spending. >> these are about competitiveness versus complacency. competitiveness versus complacency. opportunity versus decay. it's about leading the world or whether were going to let the world pass as a byproduct. >> did not take any questions on the economy. on economic policy just about everybody. canceled pipelines extending social benefits and banned new leases for drilling on federal land. the trend is showing a slowing of job creation represents a trend six and 6000 added back in august of 194,000 added back in this report. the white house trying to figure out when the data and the picture for jobs and inflation will turn in their favor, back to you. >> lawrence great to see you think of your journalism there. joni is now house of transportation and house intelligence. congressman great to have you both on. first you congressman crawford. what did you make up at the president said there's a lot of rhetoric c

let's go to edward lawrence to washington with the very latest. reporter: big debate. that meeting is going on right now at the white house included there the heads of ports of los angeles and port of long beach. the white house broker ad deal with unions of port of los angeles to allow 24/7 operations at the port to ramp up. they have fedex, ups, walmart, target, samsung, home depot agreeing to 24/7 shipping. senior administration official are telling me they're working with states to expedite truck driver training programs to get more drivers on the road. that is a long-term solution. so i asked white house press secretary jen psaki what took so long to get all the stakeholders in the same room to work it out. she says the supply disruption task force formed in june has been working behind the scenes for months talking with people who represent truck drivers at the docks. they warn that space might be limited as port operations ramp up. there are not enough truck drivers to carry the goods into the country. this morning i asked transportation secretary pete buttigieg

edward lawrence is at the white house where the president is expected to speak at any moment. labor secretary marty walsh blame the delta variant for the disappointing report. are we expecting the same from the president? >> reporter: a lot of figure pointing. this is a difficult job report to explain. it is difficult for the federal reserve but what we are seeing is a trend going downward the past 3 months. in july the economy added 1.1 million jobs. in august the economy added 366,000 jobs in this report adding a back 194,000 jobs. you see the trend. it appears to be an economy slowing but you have 11 million open jobs and the interview you did first on fox with the labor secretary he struggled to explain this issue. >> the plan is working. we added 5 million jobs since president biden took office but we are working to get the vaccine mandates working, the more people get vaccinated the more participation we see in the workplace. we need to move forward. >> reporter: on the other side, inflation has are made elevated, 5.3% for cpi over the past 12 months. there were bright s

edward lawrence is in d.c. edward, the white house claims the spending package could help suppress inflation? tell me more. >> reporter: yeah, believe it or not. long term, is what they're couching that with. you know, inflation, that's one of the terms here at the white house that really nobody wants to talk about. when you ask press secretary jen psaki about it, she stays on her stump. i have a list of questions about inflation, she has not called on us this week, but it's interesting, this is what happens when a more friendly media asks about inflation without pushback on it. listen to this. >> -- can say privately what we've said publicly and what many, many economists have also conveyed publicly, which is that what these packages will do is they will address inflation and costs over the long term. that's one of the core reasons that people should be supporting them. so if you're concerned about inflation, that's exactly a reason you should support these packagings. >> reporter: still trying to figure out w

this will chaos here but edward lawrence is with us. is this chaos because what the socialists are saying against the framework? >> the white house trying to figure out what the president wants to say, he's living in a rosy place saying in the halls of congress he think they are in good shape. however once the meeting ended, started hearing some of these comments and it wasn't quite that. kristen sinema said in this after months of productive good faith negotiations we made significant progress on the proposed budget reconciliation package. i look forward to getting this done, not think it is a deal, significant progress. the president goes to capitol hill, meet with democrats, says everything is fine, then you start seeing members coming out of the meeting saying wait a minute, we don't exactly agree, we are not going to vote for the bipartisan infrastructure bill without reconciliation bill. she is unconvinced the president has everybody together. >> is confident he can get the vote. it wasn't clear whether the two senators are commit

edward lawrence at the white house. edward, what is the white house say behind the surge in energy prices. reporter: white house saying it is hurricane ida caused this demand or surge in demand because people going back to work. it is anything but the policies that they put in place in this administration. republicans are pointing to the fact they have banned new leases for oil drilling on federal land and increased regulation. senator john barrasso, ranking member on the senate energy committee tells me this. instead of releasing oil from the nation's strategic oil reserve, begging russia for more oil, the president should ban his irresponsibility attempts to ban leasing on federal lands and waters. senator ron johnson said all of this has made us less safe. >> so the more you inflict harm on america's energy sector the more that russia and middle east is going to benefit from our weakness. of course that is the definition of the the biden presidency, a k america. crisis after crisis. reporter: you talked about this, a

let's go to edward lawrence, what is at stake. >> they are getting a lot of attention specifically virginia president joe biden is gonna go to virginia to campaign with terry mcauliffe, the bringing out the big guns to push that race over the edge a new usa today jerry mcauliffe and glenn youngkin are tied at 45% a piece, 5% of likely voters said they are undecided. the race is on for the 5% glenn youngkin has made education a central focus after mcauliffe said. should not be telling schools what to teach. >> as governor i'm gonna work for parents and children and teachers who were absolutely sending me notes please help us teacher children what to think. this is all about her kids and i cannot wait to work for all of them. >> this is also a referendum on bandmates. mcauliffe favors all schools requiring teachers to be vaccinated, he supports masks for all students in school regardless of vaccination status and he supports the use of masks and believes everyone should be vaccinated but no mandates associated with it. the white house avoiding talking about it and democrats should unite from

let's go to edward lawrence to look at how the white house is addressing this disruption to get in front of it. easier said than done, edward. reporter: that sill will be very difficult part. industry groups say they acted behind of curve related to the supply chain issues. president put thing onus on private companies. they need to step up, spend more, fix the supply chain bottleneck. they broker ad deal to get the port of los angeles to go 24 hour supply. the white house cannot tell us when supply issues will be worked out. industry groups are saying not this year. president is saying it's a first step, it is the private sector really should work out of this out. >> strengthening our supply chain will continue to be my team's focus. if federal support is needed i will direct all appropriate action. if the private sector doesn't step up we'll call them out and ask them to act because our goal is not only to get through the immediate bottle tech but address the longstanding weaknesses in the transportation supply chain that this pandemic has exposed. reporter: consumer brands association

edward lawrence, what is this all about? >> reporter: this really grew out of that phone call that the two world leaders had, president biden and president can xi. that last september, september 9th. and during that call chinese sources were saying that the biden administration, that president biden asked for a face to face meeting with the chinese president, and the chinese president said no. the white house saying that's simply not true. fast forward to this week during a meeting in zurich, envoys for both sides worked out a virtual meeting by the end of the year. a senior administration official telling me this, this is part of our ongoing effort to responsibly manage the competition between our two countries. white house press secretary jen psaki could not say exactly when that meeting will happen. >> of course, we continue to believe that that leader-level engagement is an important part of our effort to responsibly manage the competition with china especially given the coalescing of power in chinese leadership. we're s

edward lawrence in d.c. for us. this is about the debt ceiling apparently? >> yes. stuart: why is he meeting with a chief executive officer about the debt ceiling? >> this is about putting pressure on republicans. the president will double down in the meeting and will blame republicans for blocking, raising or suspending debt ceiling. this is who's who involved in the meeting in the corporate world. talking about bank ceos as well as regular ceos of other companies. bank of america ceo jpmorgan chase see on the list. ceo's from intel, raytheon, all expected, most of them to be here at the white house. white house official telling me the president will call republicans obstructionists. he will lay out how the administration feels the gop is actually blocking suspending the debt ceiling. republicans for their part still not budging. >> this is an economic crisis of their own making. they have the ability to pass a debt ceiling on their own. i think the sooner they get to it the better. i predict at the end of the day. it will be done. democrats will use the reconcilia

edward lawrence joins us. how to be fixed the 50 years ago. >> the federal reserve stepped in and adding accommodations. to slow down on the inflation, starting to hear those comparisons with jimmy carter and stagflation. necessary items are not on store shelves in some cases, rising oil prices the biden administration take same at fossil fuels and this is the number of jobs added back to the economy, july, 1.1 million, august 366,000, september 194,000, you see the trend. inflation is picking up speed. cpi inflation at last check was 5.3% and is not appearing to sort itself out at this point. the federal reserve chairman testified that it is getting worse. stagflation is usually appear go of high inflation with declining economic output. the 1970s, double-digit inflation and oil supplies as the us became more reliant on middle east countries. that is happening now as new sources of oil are slowed in the us, the administration turning to opec, asking them to increase production. goldman sachs says stagflation

stuart: our own edward lawrence asked jen psaki yesterday what took you so long. she denied, planning it for months. took a long time. update on the space capsule. the crew is now loaded into the capsule at the top of the rocket right there. liftoff is 21 minutes away. we'll tyke h take it all full, see it in full when it hams. tease what is coming up? secretary mayorkas orders i.c.e. agents stop raising places where they work. their hands are tied. greg abbott says they're putting politics before public safety. >> greg abbott's executive order banning mandates, announcement by governor desantis this morning essentially banning implementation of mandates fit a familiar pattern that we've seen putting politics ahead of public health. stuart: florida congressman byron donalds will be here. he is here to take that on in just a moment. blue origin about to launch the second flight into orbit. going to happen any minute now, probably about 15, 20 minutes away. bill shatner, 90 years old. great shape for a man of 90. he is on board. we're live from the launch site in va

maria: let's get to edward lawrence right now. the number is out. edward, over to to you in washington. >> reporter: the number rose, as the economy added 199 -- 194,000 in september, the unemployment rate fell by .4% to 4.8%. when you look inside the numbers, very interesting things, employment in manufacturing increased 26,000 jobs in september with gains in fabricated metal products. manufacturing employment is still down 353,000 since february of 2020. construction rose by 22,000 in september, mining continued to trend up in september, adding 5,000 jobs. the employment -- let's see, find some of these other numbers, transportation and warehousing in here increased 47,000 jobs. retail rose by 56,000 jobs. retail trade employment is still 202,000 lower than its levels from february of 2020. professional business services added 60,000 jobs in september, the leisure and loss hospitality increased by 74,000. 1.6 million jobs is what they are down by or 9.6% from february of 2020. still some very good numbers within this, but the top line number addin

edward lawrence in d.c. what is the china trade policy now? reporter: nutshell, put them on notice, we're getting a glimpse how tough the administration plans on being on the chinese. now under the phase one trade deal, china has fallen short buying $200 billion worth of agriculture and goods they were supposed to buy under that agreement. bejing missed the goal by about 40% according to the petersen institute for international economists. chinese also walked back some of that intellectual property protections that they had given to companies, foreign companies coming into their country. u.s. trade representative katherine tai putting them on notice. we'll use full range of tools we have to develop new tools as needed to defend american economic interests from harmful policies and practice. she will continue how the u.s. intends to invest greatly in infrastructure at home, to match the chinese, adding beyond the domestic invests in the coming days i tend to have frank conversations with my counterpart in china that will include discussions ove