candidates ready to take it on. we can t wait for that one. south carolina senator tim scott is here. former texas congressman will hurd is here. one is a lock for the debate. the other is getting close. guess who else is stopping by? none other than the chairman of the president s council of economic advisers. republicans might be pounding inflation these days, but jared burnstein has a question for them. what inflation? what a show. it begins right now. welcome, everybody. i m neil cavuto. so glad to have you. get ready for a lot of this. yeah, even in the case of iowa, we re still a half a year away from all of this, all of these boxes, so little time to get to that. to rich edson on why you would never know this thing is still half a year away. rich? neil, feels like caucus time. it s about 50 degrees warmer now. several of the republican presidential candidates are in iowa over the next few days. florida governor ron desantis is scheduled to campaign across seven iowa
gains evaporate. but the fed has been raising rates. at the rate they re going, they re going to do it again this month. that s what s causing this to go down. nothing you re doing. what do you say? if you and i are were talking about rates that were 7% and opposed to 3%, you d be suggesting that we had something to do with that. i think when it goes the other way, we have to be symmetrical there. when you lack at the neil: i don t understand that. i mean, the fact is that the rates are going up. it s having the corresponding effect of pushing some prices down because demand is hit by the rate rise. is that not so? there s no question the fed is in the mix. i also was going to tell you, if you look at one of the important aspects of where we ve seen some real relief for households on the inflation side, it s in the area of goods. core goods inflation came in a
Whatever inflation relief the end of 2022 seemed to give the country has come to a standstill. According to data from the Bureau of Labor Statistics, consumer price index inflation skyrocketed from December of last year to this January, with CPI inflation stagnating at 6.4% at an annualized rate.