BUILD LASTING FRIENDSHIPS. WE WILL Illustrate THAT WORKS. >>> Ripening Inflation AND REVEE KNOW ALL TOO WELL. THE COST OF EVERYTHING SUP. IN FLATION SURGE LEVELS WE HAVE NOT SEEN IN A DECADE. PRESIDENT BIDEN SAID THE REPORT REVEALS SOME PROMISING NEWS FOR THE NATION’S ECONOMIC RECOVERY AS THE GLOBAL COMMUNITY FROM THE PANDEMIC SLUMP. AND THANK YOU FOR JOINING US I WANT TO START WITH THE BIDEN ADMINISTRATION RESPONDING TO THE LATEST INFLATION NUMBERS. >> IT IS SO Huge TO SEE YOU, AND TODAY WE DID HEAR FROM PRESIDENT BIDEN IN A PAPER STATEMENT AND BASICALLY HE SAID THAT THERE WERE SOME Flake OF GOOD NEWS. THAT THE OVERALL HEAD LINE SHOWED THAT INFLATION WAS DECREASING AND THE PRICES OF FOOD AND GAS WAS AS WELL AND HE SAID THERE IS STILL WORK TO BE DONE, BUT THE QUESTION IS WHAT DOES THAT LOOK LIKE, THE ADMINISTRATION HAS TAKE AN SERIES OF STEPS TO TRY TO CURB THESE PRICES AND TRY TO MEET THE DEMAND AND GETTING THE SUPPLY GOING AGAIN.HE ALSO MENTIONED IT IS A GLOBAL PROBLEM AND PUT THE EMPHASIS ON LINKING THE INFLATION AND ECONOMY WITH THE PANDEMIC. AND SO, THE HOPE IS THAT ONCE OMICRON IS UNDER CONTROL. NOT Simply HERE AND AROUND THE WORLD THAT THIS WILL HELP EASE SOME OF THE DEMAND AND HELP TO GET THING S MOVING AGAIN. IT IS HARD ON PEOPLE TRYING TO MAKE END MEET AND THE PRESIDENT ACKNOWLEDGES THAT AND SAID HE UNDERSTANDS THAT. >> THIS IS THE FASTEST RISE IN INFLATION IN FOUR DECADES. THESE ARE MORE THAN NUMBERS, HOT IMPACTING THE AVERAGE AMERICAN FAMILY. >> IT IS EMPTYING PEOPLE’S WALLETS AS STORE SHELVES ARE EMPTYING AS WELL AND THE MOST VOLATILE COST IS FOOD AND PERHAPS THE MOST VISCERAL.PEOPLE HAVE FAMILIARITY WITH WHAT IT SHOULD Expenditure FOR MILK, AND MEAT AND CEREAL, PRICES ARE GOING UP AND SO MANY STORES SUPPLIES ARE GOING DOWN WE HAVE SEEN THAT A LOT OF THIS IS DRIVEN BY WORKER SHORTAGES. ESPECIALLY TRUCK DRIVER SHORTAGES, IT SLOWING DELIVERY OF PRODUCTS. BUT THE GROCERY INDUSTRY IS SHORT ON EMPLOYEES. 80% OF GROCERY STORES IN AMERICA REPORT SOME TROUBLE FINDING, OR RETAINING WORKERS AND THE WORKER SHORTAGES ARE INFUSING THE SHORTAGE OF SUPPLIES, BUT HERE IS WHAT IS CLEAR, THIS WILL BE A POLITICAL ISSUE MOVING FORWARD IF THE CONGRESS. THE SYSTEM FAILURES, THE SUPPLY CHAIN FAILURES COULD INFUSE THE ARGUMENTS FOR THE BUILD BACK BETTER INFRASTRUCTURE PLAN. BUT REPUBLICANS WILL SAY MORE SPENDING COULD FIRE UP INFLATION FURTHER. >> AND IT ALWAYS COMES DOWN TO WHAT PEOPLE TANGIBLY FEEL WHEN THEY VOTE FOR THEIR CONGRESSMAN AND WHOMEVER AND THE BIDEN ADMINISTRATION ATTEMPTED TO LOWER THE INFLATION RATE AND WHAT STEPS ARE THEY PLANNING TO TAKE TO COMBAT THE RISING COSTS OF THE GOODS? >> WE DON’T KNOW YET BECAUSE THEY HAVE BEEN SO FOCUSSED ON IT STEPS THEY HAVE TAKEN. WORKING WITH PORTS TO MAKE SURE THE HUGE CONTAINERS THAT WERE SITTING THERE WERE MOVING AAGAIN.THEY HAVE WORKED WITH THE TRUCK INDUSTRY TO MAKE THE JOB MORE APPEALING AND GET MORE YOUNG PEOPLE ONBOARD TO DO THE WORK THAT IS REQUIRED TO MOVE GOODS AROUND. WE HAVE TO WAIT TO SEE IF THEY HAVE MORE TO ANNOUNCE. WHETHER THEY HAVE MORE STEPS — BECAUSE I KNOW WHEN WE HEAR FROM JEN PSAKI SHE WILL TALK ABOUT THE THINGS THEY HAVE ALREADY DONE AND LIKELY MAKE THE CLAIM AGAIN THAT THIS IS TRANSITORY, AND THERE IS GOOD NEWS IN THIS REPORT EVEN THOUGH THERE IS MORE PAIN TO GO THROUGH IN THE LONG RUN. BUT I Reckon ONE THING THAT IS REALLY IMPORTANT AND REALLY TELLING IS THAT TODAY BIDEN DID NOT MENTION HIS BUILD BACK BETTER PLAN WHEN HE RELEASED THE STATEMENT ABOUT INFLATION AND FOR MONTHS AND MONTHS, AND EVEN THE LAST TIME.HE POINTED TO THE PROGRAM AS BEING CRITICAL TO EASE PEOPLE’S CONCERNS, AND TO MAKE SURE THAT THEY HAVE WHAT THEY NEED MOVING FORWARD TO BE ABLE TO PAY RENT AND TO BE ABLE TO GET THEIR KIDS IN SCHOOL AND AFFORD CHILD CARE, BUT WHAT WE SAW WAS THAT BACKFIRE, FROM NOT ONLY REPUBLICANS BUT Democrat IN HIS OWN PARTY WHO SAID, WAIT A MINUTE. LOOK AT INFLATION AND HOW THAT HUGE PIECE OF LEGISLATION CAN IT MORE AND WE ARE SEEING HE DIDN’T BRING IT UP THIS TIME AROUND .>> ON TOP OF THE HIGH COST OF INFLATION WHAT WOULD HIKING INTEREST Pace DO FOR AMERICAN CONSUMERS AND HOW IS IT EXPECTED TO HELP THE U.S. ECONOMY OVERALL? >> WELL INTEREST Charge WHERE THEY HAVE BEEN FOR A DECADE HAS IMPACTED PEOPLE’S SAVINGS AND INVESTMENTS, A CHANGE IN INTEREST RATES CHANGES THOSE INVESTMENTS POTENTIALLY SAVINGS. BUT WHEN IT COMES TO INFLATION ON A POLITICAL LEVEL IS IT IS NOT THE EXTRA COST FOR THE ITEM THAT CAN REALLY HIT SOMEONE, IT IS THE SACRIFICE THEY HAVE TO MAKE, THE THING THEY DON’T BUY TO BUY THAT ITEM.WHEN CONSTITUENTS ARE FOREGOING THINGS BECAUSE THE GAS COST MORE AND CAR COST MORE, AND CHANGES IN INTEREST RATES COULD BE A POLITICAL.
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