despite the biden administration really trying to do what they can on inflation, another key measure of inflation shows how high it is soaring. the producer price index which measures the prices paid to producers of goods and services jumped 11.3% year over year in june. this is all after what we pay for things, showed inflation at a 40-year high. the white house says congress has to pick up some of the slack. some of the most significant steps we can do right now are things he needs to partner with capitol hill on. there are steps congress could take to reduce some of the big tickets facing families and that legislation has been languishing over there. joining me now is the chief u.s. economist and managing director of fs investments. thanks for the time and good morning. good morning. so let s begin where the white house just left off there. they are saying there s more we can do. one thing is a gas tax holiday. there was a piece that highlighted carter administrati
you don t know what the president was going to say. caroline is right. the former president didn t make the contact, it makes it much more difficult. what the committee is trying to say, look, we re not going to tolerate. there were threats of violence and other things coming from unknown individuals. don t know if they had a connection to trump or just people calling up and making threats, but they said we re not going to tolerate this. we re going to protect our witnesses the best we can and will refer to the doj so you know better not to do it the next time. jim schultz, you have legal standards and then political standards as well. part of the goal is to establish the record here and in effect let the public decide what the consequences should be here. you worked in the trump administration.
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white house just left off there. they are saying there s more we can do. one thing is a gas tax holiday. there was a piece that highlighted carter administration economists warning don t make the some mistakes we did and one of the warnings from them including the former secretary said half measures that have popular appeal do little to resolve the underlying problem. i wonder if you think they re right. i think if inflation feels like it s coming at us from everywhere, it s because it is. it s not just a gas or energy story which is one place possibly the administration could have some impact. we re seeing food prices and we re starting to see it in a more sticky form of inflation. if oil prices come down,
are not and that is anywhere near the frontline. and so a lot of people have sort of bomb numb to these air raid sirens and don t often pay that much attention to them. the people here are the members of the territorial defense, the military, some police officers. i just want to take you over here to show you the rest of the scene. you can see one of the other missiles, i ll show you where it landed, but obviously these cars are burnt out beyond recognition. the bomb would have fallen here just before noon now, six hours ago perhaps, and this crater here is the second place the missile detonated. this is a concrete parking lot. you can see what kind of damage this left. you can see bits of debris. earlier they were looking at pieces of they were looking at pieces of the missile itself. i ll take you over here if i can. you can see another view of the building.