viewed the data that came out this morning on CPI, and it was positive relative to expectations.

I'm not for cherry picking.

I'm not going to show up here and say mission accomplished.

And what I'd say is there's plenty of work to do.

All right, that was Federal Reserve Chairman Kevin Warsh, testifying yesterday before the House Financial Services Committee.

His comments coming after the release of a better than expected inflation report.

Let's bring in former Treasury official and morning Joe economic analyst.

Steve Ratner, who has charts on yesterday's inflation data and oil prices, and there's a lot to

cover. Yeah, Steve, really quickly before you get into all of this, Kevin Warsh was a deficit

hawk in previous incarnations. Then when President Trump wanted him to come on board, he started

sounding more like a dove.

But is there reason to believe right now that sort of that hawk that he's always been, a man who understands

that the last thing you want is inflation, kind of getting out of the barn door? Is that who he is again? Yeah, I think so, Joe. I think he was

very clear in his testimony. And I've been talking to some other Fed officials who say the same

thing, which is that basically the Fed remains completely committed to getting back to 2%

inflation, which is not nearly where we are at the moment. And that is going to

meet higher interest rates, probably not at their meeting in July, but later this year. That's what

the market is now expecting. It's flipped from before the war. We thought interest rates were going to

keep coming down. Now we think they're going to go up a bit in the course of this year, and the Fed

remains committed to 2%. So yes, I agree

with you. All right. Let's go to your charts. The first one, looking at inflation and how it's

impacting workers, Steve. Right. So here's the point. We did get a somewhat better than expected

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