Inflation gets even hotter as the White House struggles for a response.

Joe Biden heads to the Middle East, and abortion hearings in Congress continue to reveal just who has the moral high ground.

I'm Ben Shapiro. This is The Ben Shapiro Show.

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Thousands of my listeners have already secured their network data, join them at ExpressVPN.com slash Ben. We get to all the crappy economic news in just one moment, which reminds me you probably should buy some gold. Okay, here's the reality. There's an asset. It has never been worth zero. It has been used as the world's reserve currency for pretty much the last several hundred years. It's precious metals. And that might be something you might want to be interested in, like right about now, considering that your alternative is to trust the Treasury Secretary, Janet Yellen, who's full on admitting, quote, I was wrong about the path inflation would take. I didn't fully understand. Yeah, you still don't understand because leaving your money in the hands of the, quote, unquote, experts at the Federal Reserve or at the Treasury Department, that seems like a fool's errand. It goes without saying you can't trust these authorities on economic policy. You should take at least a little bit of your money and diversify into gold and silver with birch gold group. Protect your savings from a highly turbulent economy by diversifying your 401k or IRA into physical gold. It's not too late for you to take action right now. Text Ben to 98.98. Get a free information kit on diversifying and protecting your savings with precious metals. Birch Gold Group has an A plus rating with the Better Business Bureau, countless five-star reviews, thousands of satisfied customers. Text Ben to 9-9-98. Get real advice from Birch Gold today. Again, Text Ben to 9-8-9-898. Claim your free no-obligation

information kit on protecting your savings with gold. Well, unexpectedly, so unexpectedly,

the inflation rate has hit another 40-year high, shattering every record. That's what Joe Biden

is here to do. He's here to make history by shattering every bad record there is to shatter.

According to the Wall Street Journal,

those consumer inflation accelerated to 9.1% in June. It pays not seen in more than four decades,

adding pressure on the Federal Reserve tacked more aggressively to slow rapid price increases

throughout the economy. The consumer price index advanced for the 12 months ending in June

was the fastest pace since November 1981, according to the Labor Department, a big jumping gasoline prices, up 11.2% from the previous month, nearly 60% from a year earlier, drove much of the increased shelter and food prices were also major contributors, but there are no areas of the American economy that are not inflating at this point. The June inflation reading exceeded May's 8.6% rate, which, by the way, gave the lie to the idea that we had hit an inflection point on inflation last month. There was a lot of talk that we'd already hit peak inflation. It turns out that was not true. The June inflation, again, was higher than May. That prompted investors and analysts to debate whether the Fed would consider a one percentage point rate increase rather than a 0.75 point rise later this month.

The truth is they probably need to wallop everybody with like a 1.5% increase.

All of these incremental increases, they ain't going to do it. I was going to a podcast the other day with Muhammad El Arian of Alianz. She's been a guest on this program. And Muhammad L. Ariens was, L. Arian was saying correctly that the big problem here is that the Fed had the opportunity to hit the brake hard enough to actually stop the inflation, but they risk tipping over into a recession. And instead, they decided sort of tap, tap, tap, tap the brakes. And the problem is the car has not slowed down nearly enough. And so now they're going to have to slam the brakes. They're not going to have to hit the brakes firmly. They have to slam the brakes. And the problem is when you slam the brakes, there's a very good shot that the passenger ejects

right through the windshield because ain't nobody wearing a seatbelt around here. Slowing demand is the key is key to the Fed's goal of restoring price stability in an economy that is still struggling with supply issues, according to the Wall Street Journal. Raising interest rates elevates the risk of a recession. Core prices, excluding volatile food and energy,

increased by 5.9% in June from a year earlier. That is slightly less than May's 6.0% gain,

according to the Labor Department. On a month-to-month basis, core prices rose at 0.7% in June.

That's a little bit more than they did in May. Stocks declined on Wednesday for wavering for much

of the day with the S&P 500 index following by 0.5%.

Bond yields jumped following the inflation report. Yields on longer term treasuries quickly gave up those gains.

Nobody knows where to put their money at this point, considering there are no safe havens.

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