the federal reserve. how surprised for you when the satellite president biden suggested that would be a mandate hundred dollars powell fed? it s interesting. a couple of things. she s a dove. the fact that she wasn t appointed came as a relief for folks that were worried that there would be low interest rates and continuing to stoke this concern about inflation. so there s a piece of that. one thing that president biden does, that the market needs continuity right now. a lot of uncertainty, whether it s the covid outbreaks, getting a handle on the supply chain, understanding this unemployment mystery and having a change at the helm of the fact. the market is breathing a sigh of relife. charles: we had a big move up and selling off. here s the thing. the chief economist at the labor
department took a shot across the bough at the federal reserve saying we want you the keep pumping. don t hit the brakes because we care about inflation and employment. it s odd. if they would pull back on the free money, they would get people to go to work and inflation would come down. needless to say, this administration is pretty clear when it comes to printing money. they want to see jay powell press the medal, continue to keep money out there, free money out there and do you think even though he will have some sort of freedom he won t have the pressure of worrying about be renominated again that he will feel beholden to keep doing that as much as possible? i don t think so. one thing i ll say as the jay powell plot point, throughout the last several years, he s been proven himself to be immune to political pressure. we saw under the trump administration a lot of pressure put on jay powell and he didn t
handle on it. the conversations in thanksgiving will show how much more expensive the dinner was this year and how storms are having to limiting purchases and how much gas cost. the inflation the democrats have unleashed the large and growing larger. this bill by spending trillions and encouraging people not to work is only going to make it worse. we just saw the president boarding marine one. he didn t take any questions on his way to a thanksgiving event at fort bragg, north carolina. charles? charles: thanks, peter. so with prices spikes, should jerome powell focus on inflation? ann berry weighs in now. you know, the fed has a duel mandate. inflation on one hand, full employment on the other. you and i both know jerome pow has wanted to be accommodative,
charles: president biden departing for fort bragg this afternoon. he s set to address inflation, now at the highest level since 1992. a sign that the white house is getting concerned about price spikes ahead of the holidays. franchesca is chambers here. gop strategist nick adams and laura fink. is it time for the administration to worry about inflation? well, it s think it s been a concern for some time. we know that inflation is open. we know that profit margins are up with the biggest u.s. companies raking in the biggest profit margins since 2019. so the biden administration will focus on the lack of competition in the marketplace. things like meat processing. that s why poultry and beef and pork are up. it s because there s a bottle
and socialists and people that don t understand how to make money, they re the ones that need to work it out. that s how it works. that s why america has been successful. charles: let s bring in the level-headed franchesca here. here s the thing. i think this administration has made some really bad gambets in terms of finger pointing from the afghanistan withdrawal to the vaccination, fumbling that and the mandates. and i think listen, the white house is looking at the poll numbers. if you look at gallop s right now, we re in tremendous economic anxiety. it s dangerous to see this is all on business. should they take aany account ability tomorrow? do you expect that? the white house is also has anxiety over covid-19 and where we are now versus where the white house has hoped that the country would be on vaccinations and on other aspects of covid-19, charles. so when you talk about inflation and what we can expect tomorrow,