is having on the u.s. and in fact the global economy. inflation is nowhere near as bad as it was in the late '70s, as you and i well remember. but do you see a parallel to what really helped defeat then president jimmy carter's bid for re-election in 1980? >> absolutely, wolf. it's a very clear parallel. we haven't faced inflation. we thought we had inflation under control for the past 40 years. that's because in the early '80s it was so bad that jimmy carter got paul volcker to come in and run the fed and he cracked down on inflation. he got it under control. and it hasn't been a problem for 40 -- since paul volcker was there at the fed. now we have 90% of americans are deeply concerned now, according to polls, about inflation. it goes across the board. this is not a partisan issue. it's everybody who is having to pay higher prices at the gas pump and at food counters and
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