this week, this probe you announced against morningstar, the rating agency. why are these moves soo t important? atchfor the folks out there watching who don t know what esg even meansns ? well, because it s all about power and control. is i mean, this kind of radical climate alarm alarmism that has been weaponizes whether by agencies or these companies that are pushing esg reallyfa hurts middle class american families. and your previous segmentourrev you re talking about how expensive it is now for people to, you know, atats the pump or at the grocery store. this is directly because of joe biden s administration, im their war on american energy. and meanwhile, you ve got him going to saudi a arabiagi and begging for oil, sending strategic petroleum reserves to china. dm this stuff is nuts. people ins this country want to be energy independent. it s a national security issue. it s a supply issue that will lower the costs. and so the new york times canfo complain all they want. but this
according to black knight, the rate of appreciation, on an annual basis, has decreased from 19.3%, to 17.3%, and still pretty high if you think about it. i mean year to year basis, but it is showing moderation. the key issue is there are simply not enough houses to g by and less of a demand issue and more of supply, and lack of supply issues at play here. yes, supply issue indeed. cnbc s joumanna bercetche, live from london, thank you so much for being with us this morning. still ahead, we will get back to the big announcement from president biden, a drone strike has killed one of america s top enemies. we ll look at what his death means for the future of al qaeda. we ll be right back. en. i live in vancouver, washington and i write mystery novels. dogs have been such an important part of my life. i have flinn and a new puppy. as i was writing, i found that i just wasn t as sharp and i new i needed to do something so i started taking prevagen. i realized that i was much more clear
country is disapprove lg of his presidency and feels we on the wrong track. i think part of the real problem here, just to put the politics aside for a second, is economically, what the federal reserve is doing is raising interest rates, which makes borrowing more expensive, which sucks demand it oof the company. but especially since the war of ukraine, by short term supply and comity shocks. so, the tools the federal reserve and the central reserve have to deal with inflation are targeting demand, which has been supercharged. but over 50% of increase in inflation recently has been due to commodity shocks due to the war in ukraine. you have a devastating combination of demand in an attempt to deal. but the tool is not going to deal with the supply issue that s causing the problem right now. s so, what else can be done? what else should be happening? these are two unprecedented bumps in as many months
by short term supply and commodity shocks. so, the tools that the federal reserve in the central bank have to deal with higher inflation really are targeting demand. which has been supercharged over the last. your butt over 50% of the increase of inflation, recently, has been due to commodity shocks from the war in ukraine. and, so you have, what i think is a potentially devastating conversation of demand being crushed to deal with inflation. but the tool that s being used to crush that demand is not going to deal with the supply issue that s causing the problem right now. so, what else can be done? what else should be happening? i, mean those are two unprecedented bumps in many months, essentially that more insect ember are coming up their policy meeting. but, in that meantime, people are suffering. they were told, and nationally, by president biden patients would be the key. the invasion to ukraine, a global humanitarian crisis with the bread basket of europe not being impacted, th
joe manchin putting the brakes on this whole thing. i think the rest of the party is completely tone deaf. from the reserve side, they can t control the supply issue, they can only destroy demand to bring demand down and supply and demand will come into balance. it s going to take a while. we way over extended, went on way too long stimulating, holding rates to zero, we did it for 13 years, it didn t just happen during covid. it started in 09 in the middle of the crisis. if you think about it, they ve had interest rates at zero and stimulating for 13 years. if anyone thinks we ll get out of this in two or three months, they re sadly mistaken. rethink that. we re 9.1% and in my mind i think we re already over 10, 11% in inflation if you kind of look at everything else around you and this is is perfect example. once you took off food and energy, it s higher than last month and everything else is increasing in value or increasing in cost and senior and people are making decisions