Everything the Biden administration touches turns to ash. This is true across the board.

Foreign policy, immigration, jobs, education, the list goes on and on, but nowhere is it more

apparent than inflation. Inflation for the past months has already been at 40-year highs.

Everything is more expensive, much more expensive since Joe Biden took office.

And according to the White House, the situation is only getting worse.

So because of the actions we've taken to address the Putin price hike, we are in a better place

than we were last month. But we expect March CPI headline inflation to be extraordinarily elevated

due to Putin's price hike. And we expect a large difference between core and headline inflation

reflecting the global disruptions and energy in food markets. A core inflation doesn't include

energy and food prices. Headline inflation does. And of course, we know that core inflation,

you know, energy, the impact of energy, of course, on oil prices, gas prices. We expect that to

continue to reflect what we've seen. The increases be over the course of this invasion. And just as

an example, since President Putin's military build up accelerated and January, average gas prices

are up more than 80 cents. Most of the increase occurred in the month of March and at times,

gas prices were more than a dollar above pre-invasion level. So that roughly 25 percent increase in

gas prices will drive tomorrow's inflation reading. And certainly, it's not a surprise to us,

but we certainly think it will be reflected. You know it's bad when the White House is trying

to manage expectations like this. You know it's bad when the White House is saying, well, yes,

we expect the number to be not just elevated, but extraordinarily elevated. But hey, that's only

because gas and food is super expensive. Oh, good, okay, good. That makes me feel better. Only

because the basics that I need to live are extremely expensive now. And we're getting much,

much more expensive. Long before Putin ever invaded Ukraine, by the way. That's okay. That's the

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