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
last year plus, have had two speeds, slow and slower. the concern, of course, is no negotiation and then the constraints and restraints are off and the parties calculations begin to change. let s talk ukraine. israel has come under criticism for not more fervently opposing russia s invasion of ukraine. i wonder, is the u.s. pushing israel to take a stronger stance here, or is it giving them a pass given the room for maneuvering. the comments on ukraine were tougher, frankly, than former president bennett who over the last year couldn t figure out a way to use condemn ukraine and putin in the same sentence. the israelis have equities in syria. they are concerned about jews in russia and in ukraine. they don t want to alienate putin. i think you still have that. the biden administration has