Happening right now, president biden is touring a bioprocessing facility in iowa. he will speak on his plans to tame inflation and lower gas prices. today, the u.s. labor department released new inflation numbers showing prices jumps 8.5% over just the last 12 months. that s the highest inflation rate in the u.s. in more than 40 years. prices continue to rise on everything from gas to food and housing. with us now 20 discuss, cnn business reporter matt egan and catherine rampell and jeff zeleny. jeff, what s the president s plan? what s he going to say today? president biden arrived here at this ethanol plant behind me on a windy afternoon here in