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president biden said his policies are not to blame. i think our policies help not hurt. think about what they say the vast majority of the of the economists think this is going to be a really tough problem to solve but it is not because of spending. we brought down the deficit by. spring and kevin he s former chairman of the council of economic advisers under president trump and distinguished visiting fellow at the hoover institution. so kevin, welcome. the scout but was this is going to be the peak of inflation, how do you see it? yes, you and i ve talked about this before. one of the things i like to do is look at the more recent numbers instead of the change over the whole last year. because at the beginning of the year inflation was not so bad. the average, last three months of consumer price inflation and then annualize it right now is going up at 10% at an annual rate which is about what you and i i promised on your show a few months ago was going to hit. if ....
until then watch out we could still have some falling prices. all right kevin thanks so much for coming in. paul: only come back as democrats scramble to maintain the critical fallout from inflation. president biden s up the tax on gop shifting blame to ultra mega republicans appeared or voters buying that strategy? to my predecessor the great mega king the deficit increase every single year he was president. helping them discover their dreams is one of the best parts of being a parent. one of the most important is giving them ways to fulfill them. for over 150 years, generations have trusted the strength and stability of pacific life. because life insurance can help protect ....
While participation so far. robert rubin would ve stayed adler talks with the economist adheres we needed about inflation, abortion is one of those divisive issues that for sure political people need to talk about them voters need to be concerned about. but economic official should go out solutions to inflation problem. not like crazy cockamamie ideas about how abortion stimulates the economy. i think it just shows they are really out of ideas they do not have a plan. and so therefore monetary policies going to fly solo monetary policies going to have to really, really push hard to get this inflation number back of the choose. paul: on that point the fed has, as you say just started it s not really tight yet it is just starting to do so. and it plans to, they say titan but look already what s happened in the market. the stocks, equities have taken a big hit. the crypto currency market is a blood bath. junk-bond markets are really in trouble, leveraged loans we don t know what s going ....
Inflation fighting is his top priority. can you pinpoint what his answers are what is policy response is? i absolute kanawha all because there is no real policy response at all. he says among other things the inflation has been caused by the pandemic. and the inflation has been exacerbated by a vladimir putin. he also asserts spending does not cause inflation. i want to concentrate on that. the democrats in this white house do believe but they seem to believe is spending does not cause inflation. that federal spending is good. now look, we can argue all day long about whether public spending is good for the country are bad for the country. that is a political argument. their problem is that because of this meant we now have inflation running at 8%. there is no political argument about inflation, paul. ....
Midterms as well. a republican summer red states are more than happy to take this vote. that for to beat their message. swing states like nevada, arizona, wisconsin, new hampshire, democrats were trying to put the republican candidates there in a tough spot. the abortion could be there message that motivates their voters gets their base fired up this fall. we see some of the poll suggests inflation others are top of mind. that is why we went there bright and the message that came out did not have a majority for their position. kyle, s manchin right this bill goes further than roe v wade? he is buried there two things opponents point to. one is the bill would guarantee abortion access after viability. ....