suggesting president biden s big spending agenda is the last thing america needs. friday money team steve moore, austan goolsbee. it is terrific to see you again. happy friday to both of you. austan, haven t seen this number on inflation since 1982. haven t seen this number since joe montana beat the cincinnati bengals in the super bowl. it s all about the bengals. what will do as a people and government? you begin. well, the first thing that anyone has to do is start with the feds. i know steve has been saying he wanted the fed to raise rates before. it seems like we re definitely on path to move back to something like normal. we had a blockbuster jobs number for 2021 and we had a highest inflation in 40 years.
president needs most to pass his big spending agenda, west virginia senator joe manchin. inflation is real. it is harming people. 7.5%, that is a tax. it continues to increase and is not decreasing. the feds need to step up to the plate and do something. the administration and we all have to work together to get the financial house in order. if not, it will be absolutely horrible to the american economy. joe manchin is doing his share to stop inflation. as you know and you laid out the cost. the president not only doesn t recognize it, he is still pushing for the build back better plan to make inflation and the worker shortage even worse. so, as long as senator manchin keeps blocking that, frankly, he will be doing his job. todd: and if the economy is going to hurt president biden s chances for reelection, there is always hillary clinton. cnbc is reporting she is scheduled to speak at the new york state democratic
the price spikes are temporary in nature. so that will be important for the president to make. the president hoped by this point to be talking about a pandemic largely in past tense. and what have when see not really just in the last few weeks, but since the 4th of july when he wanted to mark independence from the virus. so this is likely something that he will be asked about. ben white joining us now. politico s chief correspondent. i want to ask you about something you wrote last week. you wrote last week there is a new fear circulating inside of the white house, the west wing of the white house. maybe larry summers was right. the former treasury secretary has been warning since president joe biden s big spending agenda was creating an inflation spike this year potentially cutting into an economic recovery from
week that experts inside of the building here believe that these high prices are temporary, really kicked off by them trying to restart the economy after the pandemic and that is really where they are sticking. but listen, there are already starting to take fire on the higher prices from republicans who are basically building this to go into the midterms and even moderate democrats have started to voice some concerns, some whispers that this could be attributed to president biden s big spending agenda. also on monday the president welcomes a the royal family of jordan. on tuesday he holds his second cabinet meeting of his administration, the first in that big cabinet room, very historic, on wednesday, of course, president biden will participate in a cnn town hall moderated by our own don lemon,
want to be there today. the nile isn t just a river in egypt it s apparently live and well on capitol hill. i don t think president obama is in denial. speaker john boehner said that last week that he thinks perhaps president obama is in denial. i think he gets the message that the voters sent him last week, i i think he rejects it. across the street i think nancy pelosi is in absolute utter denial about the voters wholesale rejection of the big government big spending agenda. we saw republican gains in governor s races only the third of the governors were up two weeks ago. we saw democrats retain control of the senate but only a third of the senate was up two weeks ago. the only nation-wide contest that we saw was the house of representatives. and in that contest democrats got wiped out in historic terms. megyn: one thing we learned today is you will will not be paying for the victory party. it will not be taxpayer funds.