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FOXNEWS Cavuto Live January 15, 2022 15:07:00

Ed edward: bill, we just saw the wholesale prices going up 9.7%. that s the prices that companies in order to make the goods that they have, they re getting more expensive. the president and his economic advisers both made the case that they re [inaudible] talking about transportation and how they re moving containers through at a bigger rate as they re being offloaded. i want you to listen here to fed chairman jay powell testify this week. listen to this. the number of ships at anchor is still at a record level are, so we re not really seeing yet the kind of progress we essentially all forecasters thought we d be seeing right now, and that s really what s s driving it. i think we did foresee the strong spike in demand. we didn t know that it would be so focused on goods, but that s really what happened. edward: record number of ships at anchor, so this is not going to be sorted out anytime soon. the fed chairman indicating maybe the end of this year. yeah, i think that s right. ....

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FOXNEWS Cavuto Live January 15, 2022 15:36:00

Public lands and the arctic. but that perception causes pressure on oil prices. just that perception. and we are energy dependent on oil. need a long-term plan to get off of oil. we can t do it all at once at the price of the american consumer. they are the ones that get hammered. energy costs for gas, ed, are 30% higher this winter, 6% higher for electrical at a minimum, and we re going to see $4 at the pump by memorial day. edward: whoa, that s a big prediction. [laughter] so the last time though, you talk about barrel of oil at $100, the the last time that happened was when former president biden former president obama was in office, and his vice president at the time, joe biden. so you think we re headed in that direction again, and what does that mean to gas prices, you know, regardless of the $4 a gallon? are we going beyond that? it s possible we can see something higher than that. ....

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FOXNEWS Cavuto Live January 15, 2022 15:04:00

What we mentioned, your costs are just through the roof right now. yeah. i think, you know, we re just seeing an immense amount of inflation and, hopefully, we ll see some relief down the road, but it ll probably be a while before we expect that to happen. reporter: the white house says it s making progress on showing the rate of inflation. number one, are you seeing that? and, number two, how long is this going to last? i won t say we ve seen it yet. you know, i doubt we see it next week, but probably, you know, at least a year, maybe two. historically that seems to be the trend before we see any relief in this sort of situation. reporter: so,. ed: world, farmers getting frustrated with the higher prices and eventually all of this trickles down from the first stop in the food supply chain for our country here all the way down to the grocery store. back to you. edward: thanks, grady. a year or two from farmers on the ground, unbelievable. so you heard from the white house, you ....

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