very critical of the way the u.n. brokered grain deal is being executed. he said that most of the grain that is being shipped out of the ukrainian ports is not going to the countries that need it most, not going to developing countries. have a listen to what he is accusing europe of. translator: just like many european countries over the past decades have acted like colognil powers, they are continuing to ankt act like that once again. once again they are continuing to deceive. it is clear with this approach the scale of the world s food problems will only grow. unfortunately, which is capable of leading to an unpr ppreceden humanitarian catastrophe. i will definitely discuss this with turkish leader erdogan. so pretty ominous given that this is perhaps the only
turn around and raise the prices. which causes more inflation. and the whole thing sets off a snowball going downhill. that s not how we got inflation in the first place. and as you said, lots of countries around the globe are facing the same inflationary problem. it started out with supply problems, and we have just gotten an incredibly unlucky. just not we the united states, but around the globe. the pandemic has lasted longer than anyone expected, and then, putin decides it s a good time to invade ukraine, and causing global energy price problems, global food problems, basically problems for everyone. and that has contributed to the inflation. all of that supply base, there is some evidence that some of the inflation is due to demand being above supply. but i don t think we can put that all on stimulus bills. particularly when the stimulus
turn around and raise the prices. which causes more inflation. and the whole thing sets off a snowball going downhill. that s not how we got inflation in the first place. and as you said, lots of countries around the globe are facing the same inflationary problem. it started out with supply problems, and we have just gotten an incredibly unlucky. just not we the united states, but around the globe. the pandemic has lasted longer than anyone expected, and then, putin decides it s a good time to invade ukraine, and causing global energy price problems, global food problems, basically problems for everyone. and that has contributed to the inflation. all of that supply base, there is some evidence that some of the inflation is due to demand being above supply. but i don t think we can put that all on stimulus bills. particularly when the stimulus bills are why we have the strong economy that we have
you look at the situation already ongoing in the world there are major drought problems and food problems in places like africa. this is only exacerbating it. bret: all right. rich, thank you. new york s highest court has rejected former president trump s last ditch effort to avoid testifying in the attorney general s civil investigation into his business practices. the ruling clears the way for his deposition next month as well as the deposition of his children ivanka and don jr. about the trump business. the state s court of appeals said there was no substantial constitutional question that warranted its intervention. the court also dismissed a motion by former president trump s lawyers to stay the subpoenas. the house committee investigating last year s capitol riot january 6th has postponed tomorrow s scheduled hearing. the schedule was to feature dramatic testimony, they say, from former justice department officials who threatened to resign over then president trump s pursuit
run and you will do a much better job. they never should have done what they did. now they see the damage they caused, they should change their policies and undo the mistakes they made. but no, no, no, they don t seem to have any inklinlation to go in that direction. bill: on that last point you are exactly right. back to yellen from yesterday and the word transitory. i was anticipating a scenario in which we would end up contending with multiple variants of covid that would be scrambling our economy and global supply chains, impacts on food managing prices we ve seen from russia s invasion of ukraine. bill: there it is, art. it is there, it s there, it s there. everywhere they look. it s gobbledygook, bill. dana: they are forecasting the grain shortage and the food problems. i don t think they re