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everything secure. This is John Batchelor, conversation with colleague Elizabeth Peake of the

Hill and Fox News, about the inflation number. So far under control, and the question is, when will it

show the tariff wars? Will it show the tariff wars? One of the explanations for why

the moderation so far halfway through the year is that retailers and shippers anticipating tariffs

moved inventory as quickly as possible in abundance to the shelves in order to have a price

advantage before the inflation kicked in and prices were raised.

That's one explanation.

It hasn't shown up so far when Liz speaks to that concern.

It's an unknown.

Here's Elizabeth Peake.

Much more of this tonight.

Where is the inflation?

We're waiting for it.

Jerome Powell's waiting for it.

...