policies on capitol hill this week. telling lawmakers the $1.9 trillion american rescue plan contributed only modestly to higher prices even as she acknowledged inflation levels are unacceptably high. 8% inflation is an unacceptable inflation rate in the united states and it is president biden s number one objected to get that out. paul: let s bring in cabot former chairman of the council of economic advisers at the white house and distinguished visiting fellow at the hoover institution. welcome kevin. so peak inflation. everyone has said it has picked it has picked looks like it is peaking or that peaking keeps going to higher peaks. what is everybody missing in the markets? everybody really isn t everybody. if you look at google searches for inflation then my friend joe sullivan did a really interesting piece where he correlated google search for inflation with the inflation rate. right now americans are searching at the rate they would do if inflation were 9% which is
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 you l
this week china secretly building a facility at the naval base in cambodia. the latest sign in beijing is forging ahead have the plan to build a network of the bases across the globe. let s bring an retired four-star general jack keane who is chairman of the institute for study of war and a fox news strategic analyst. welcome general. how significant is this naval base in cambodia? what does it tell us about china s naval ambitions? well they certainly are significant. china has stated many times they intend to dominate and control the end of pacific region where they believe that is in their national interest. when also they intend to replace united states as a global power. and to do that you have to be able to project combat power and you need bases to do that. as an example of the states has a basis in 70 countries.
paul: top un intelligent official warning russia s offenses in ukraine could be entering a more volatile and bloodied phase per director of national intelligence admiral hain on the senate armed services committee letter putin is prepared for a long conflict as it were grinds on could become more unpredictable per. the nature of the battle which is a war of attrition combined with his ambitions current conventional capabilities likely means next few months moviegoing will more fun predictable and escalatory trajectory. specify spring and retired four-star general jack keane s chairman of the institute for the study of war and a fox news senior strategic analyst. welcome general. as always good to see you. do you agree with admiral haynes