How America's Last Major Inflation Spike Finally Came To An End

The Fox News Rundown

FOX News Podcasts

News, Daily News, Politics

3.4 • 1.7K Ratings

🗓️ 17 July 2022

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

U.S. inflation hit a 40-year-high in the month of June, rising to 9.1 percent. On Wednesday, President Biden addressed Americans who have been grappling with high prices at the grocery store and gas pump, saying the latest "inflation reading is unacceptably high" and vowing to give the Fed "the room it needs to help it combat inflation." Hours after the number came out, FOX News Contributor and Wall Street Journal Senior Writer Jon Hilsenrath joined Jessica Rosenthal explains why our current inflation crisis appears to be worse than many feared and how the Fed will likely address it. And to give perspective on today's economic woes, Hilsenrath also looked back at the massive inflation spike in the early 1980s and how that problem began and eventually ended. Due to time limitations, we could not include all of the conversation in our original segment. On the FOX News Rundown Extra, you will hear our entire interview with the Wall Street Journal's Jon Hilsenrath. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi all how we doing afternoon afternoon let's get this meeting meeting meeting
0:06.0	started
0:07.0	when everyone's home erepte work mode
0:12.0	when everyone's home ee work mode prioritizes your broadband for working from home, with faster speeds in more places than anyone else.
0:18.0	So, yeah, yeah, I've got you loud and clear, clear is about.
0:21.0	This is broadband made for working from home search
0:24.2	e e broadband powered by BT work mode with e e smart up plus to verify see ee dot
0:29.1	credit e k slash claims this is the Fox News rundown extra.
0:33.0	I'm Jessica Rosenthal.
0:38.0	This week we spoke with Wall Street Journal Senior writer and editor John Hillzenrath about inflation. This week's
0:44.3	CPI data showed inflation was up in June 9.1% over last year that was higher
0:49.8	than expected and had many saying this shows accelerating inflation.
0:54.4	The White House and some economists wondered though if the data captured a peak when gas prices
0:59.1	were especially high, they've since come down a bit.
1:02.2	We talked to Hills and Wrath about all of it,
1:04.0	but also about the Fed,
1:05.0	and whether rate hikes are just not working
1:07.0	or just went up a bit late in the game.
1:10.0	We also talked about how this ends
1:12.0	and go down memory lane to the early 80s when the Fed was dealing with even higher inflation.
1:17.0	We often have to cut interviews down for time during the week, but we thought you might like to hear this full interview.
1:22.0	Thank you for listening.
	...

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