so really, it would just negate the increases of the last week, and there are big questions because of how it s taxed about whether or not that decrease will be passed along to consumers at the pump. okay. thank you so much. pete, matt, thank you. let s bring in diane swok, the chief economist at grant thorton. he s also an adviser to the federal reserve and the congressional budget office. thank you for being here. do you think the president s plan will work? well, it s not going to take off the real problem, the steam off of inflation in the way that we really need to do it. that s on the shoulders of the federal reserve, and that s why you re seeing the federal reserve committed to raising rates, not just a half percent at one meeting but a half percent at likely the next two meetings as well. and getting up to at least a neutral rate and then going further on interest rate hikes, because they really have to bring campen demand down in order to bring it in line with
okay. diane, i appreciate your expertise. thank you for helping us make sense of the economy right now. a scary warning from america s top spy. vladimir putin will likely escalate military action in ukraine. his forces are already decimating cities. so what could an escalation mean? and on the phone with 9-1-1. what we are learning about the final moments for an escaped inmate and corrections officer on the run as police gave chase. plus a baby formula shortage is only getting worse. what s being done about it. we re on it. you threw good money away when you bought those glasses. next time, go to america s best - wherere two pairs and a free exam start at just $79.95. can t t beat that. can t beat this, eitither. bookok an exam today at americasbest.com [zoom call] .pivot. work bye. vacation hi! book with priceline. cause when you save more, you can “no way!” more. no wayyyy. no waaayyy! no way! [pne ringing] hm. noay! no way!