praying prices will come down soon. everything is high. everything is almost unaffordable. food is high. gas is high. electric bills went up. like the majority of americans she lives paycheck to paycheck and reality pushing the federal reserve to take action against raising interest rates, by half a percentage point, the biggest hike in 22 years. inflation is much too high and we understand the hardship it is causing. the fed s goal, slow down spending to bring inflation down which is soaring at 8.5%. a 40-year high. prices spiking across the board. from rent, to groceries, to gas. the national average for a gallon of regular is now $4.23. ten cents higher than just a week ago. i have not been able to do the complete fillup, because, you know, i m on, basically, a fixed income. now, higher interest rates will make loans more expensive
is soaring at 8.5%, a 40-year high prices spiking across the board from rent to groceries to gas today the national average for a gallon of regular now $4.23. 10 cents higher than just a week ago. i have not been able to do the complete fill-up because, you know, i m on a basically like a fixed income. reporter: now higher interest rates will make loans more expensive including new auto loans and credit card debt interest rates on mortgages hitting 5.41%, up from just 3% a year ago. our business could potentially start to dip based on the fact that people will have to change their buying habits. reporter: this chicago restaurant owner worries she will pass along the highest cost of her business loans to her customers as she tries to expand. it is not an easy discussion because we still want to do right by our customers as well. reporter: as for fears of a possible recession, fed chair powell says there is nothing to suggest one is close expect more half point increases in t
paycheck to paycheck. these realities pushing the federal reserve to take action again, raising interest rates by half a percentage point, the biggest hike in 22 years. inflation is much too high. we understand the hardship it is causing. reporter: the fed s goal, slow down spending to bring inflation down, which is soaring at 8.5%, a 40-year high. prices spiking across the board, from rent to groceries to gas. the national average for a gallon of regular $4.23, 10 cents higher than a week ago. i have not been able to do the complete fill up because, you know, i m on a, basically, fixed income. reporter: now, higher interest rates will make loans more expensive, including new auto loans and credit card debt. interest rates on mortgages hitting 5.41%, up from just under 3% a year ago. our business could potentially start to dip based on the fact that people are
the electrical workers and the people and the neighbors giving each other food and getting the poles up and running to get electricity going is simply inspiring. hats off to the folks here in louisiana. john, sandra. sandra: ok, robert, thank you very much for telling their stories reporting from louisiana for us. absolute devastation there behind you. we will see you again soon. thank you. meanwhile, far left democrats using the war in ukraine to promote their ambitious green energy agenda still while inflation is hitting the pockets of american consumers. today s national gas average, 4.23 a gallon, that is well over a dollar increase from last year. joining us now is joe lieberman, and also an independent and chairman of united against nuclear iran. great to have you here. great to be in the studio again, praise the lord.
you had the fed chair admit it is not about putin. going after energy made us weaker in the process around the world and added to inflation. the thing people don t quite understand oil doesn t just go into your car. it goes into your clothing, the purchase of your phone. i paid $6.59 a gallon to fill up our car. it is every single day the price goes up while the democrats are in power. harris: house minority leader kevin mccarthy on yesterday s focus as his state, california where i am on special assignment, california has become ground zero in the nation s gas crisis. gas prices here nearly $2 more than the national average of $4.23 a gallon. and even higher if you are in los angeles where the average tops $6. actually within like a few blocks of where we are at the