 Well, good morning from studio 57 here in New York. I'm Ann Marie Green. I'm glad to meet you. Here's a look at the stories grabbing our attention right now. The inflation numbers are out. Wall Street is taking note. We'll tell you how the markets are reacting. Stunning revelations that the January 6th committee public hearing what then President Trump said in response to his supporters chanting hang Mike Pence and breaking this morning the White House says air travelers to the U.S. will no longer need a negative COVID test what this could mean for your summer plans before to that we're going to talk about that means coming back home will be a lot easier and a lot less stressful for a lot of people. Meanwhile, stocks are taking today after news that May's consumer price index rose more than economists expected. The CPI was up 1% last month, representing an 8.6 percent bump year over year. That's the largest 12 month increase in more than four decades. So let's see how Wall Street is reacting to that. Let's take a look at the big board right now down about 743 points 2.3%. Let's bring in Melissa Armo now to talk more about the market. She's the founder and the owner of the stock swoosh LLC. Melissa, great to talk to you. Although the market gyrations that we're seeing today, I don't know how investors feel, but break down how the CPI index is impacting the markets today. Every consumer knows prices have gone up. They've been steadily rising. And now it's really coming to a point where we're not seeing any relief. We thought this would be temporary. The Fed said it would be temporary. The administration said it would be temporary. Unfortunately, we're into this 12 month period now where they really risen a lot. And actually, it depends what goods you're looking at. Some things are way more than 8.6%. Gas, for example, has almost doubled in certain areas and people use gas to drive around. And the big thing is everything that you buy when you go to the grocery store, if you order something online, how does it get to you Amazon? Everything that you order gets to the store or to you from a grocery truck. And trucks, guess what? They need diesel fuel. So because the price of gasoline has gone up so much, you've seen a huge increase in all of these things because they had to build in the prices to get the goods to you. So the market's looking pretty bad right now, but do you expect to see at least some recovery before the closing bell today? Well, President Biden is expecting to speak today on inflation, I think at 145 was the most recent schedule. Unless they come up with a solution or he says something dramatic, I don't see any way we recover today. We're probably going to fall today more than we are right now. And while this is very scary for people, when you look at where we were in the markets 12 months ago, we had a big rally in 2020, 2021, 2022 after COVID. So we've seen selling most of the year, most of the calendar years since January. In fact, the market has not made a brand new all time high at all this year in the QQQs. And the spy we did to start off the year, and then we dropped since then, we still had a huge run up. If you look back the last four years, five years, people are up in their 401ks. I say listen, the good news is you're gonna have an opportunity to buy in the market at a lower price at some point. But if you're in retirement right now, this is very scary if you have not sold out of your funds yet, because we definitely could be lower. And it's hard to pick a bottom when we're falling, falling, falling. It's like trying to catch up on life. You don't know where we're going to stop. Yeah, it's a good point. So the Fed is set to raise interest rates again next week. How will this help ease inflation rules, Melissa? I know that everyone thinks the Fed is going to come in and save the day, but I don't see how. Because remember, if prices are going up, people are paying more for the same things they buy, whether it's food or gasoline, raising rates, meaning people want to borrow money, whether it's mortgages, or credit cards, it's going to cost them more. I honestly do not believe that it's going to solve the problem. Everyone thinks it's going to solve this pushing into a recession. But I think it's going to create a larger problem for consumers, in my opinion. How do you solve it? We still have problems with gas. Gasoline is the biggest number one problem across the gas. We need to maybe drill or expand. And this is where the administration could come in and come up with some solutions. We also have supply chain issues. That's not going to be solved by the Fed raising rates. So a lot of these things have nothing to do with interest rates. It may have been the past solve the problem, but we're in a different environment now since COVID. So I do not think that raising rates is going to help. In fact, I think that raising rates is going to hurt the consumer. How can it not? Yeah, it's going to be tough for some people, especially if you were planning on making some big purchases if they start to raise those rates. Melissa Armol, rather, thank you very much. Thank you. So here's the other breaking news. The CDC is lifting its COVID-19 negative test requirement for travelers entering the U. S. The move will