REPUBLICANS WIN IN NOVEMBER
INFLATION WILL GO -- GET WORSE.
>> WE’VE GOT AN ELECTION IN A
MONTH.
VOTERS HAVE TO DECIDE.
DEMOCRATS, WE ARE GOING TO BRING
DOWN THE COST OF THINGS AND TALK
ABOUT AROUND THE KITCHEN TABLE
AND INFLATION IS GOING TO GET
WORSE IS THAT SIMPLE.
MARIA: NO, IT’S NOT ACTUALLY.
FOX BUSINESS DAGEN MCDOWELL AND
FOX NEWS CONTRIBUTOR AND AUTHOR
OF COME ON, MAN, JOE CONCHA AND
JOHN LASNKY, TOO MANY DOLLARS
CHASING TOO FEW GOODS AND THAT’S
DEMOCRATS DOING, YOUR THOUGHTS?
DAGEN: YES, BEFORE JOE BIDEN
TOOK OFFICE AND IN DECEMBER OF
2020 INFLATION WAS AT 1.4%.
MARIA: THAT’S RIGHT.
DAGEN: THE ECONOMY WAS GROWING
AT 4 AND A HALF PERCENT CLIP AND
RIGHT ON INAUGURATION DAY
GASOLINE IN THE COUNTRY WAS
BELOW $3 A GALLON AND SO WHY ARE
WE IN THIS PLACE TODAY WHERE THE
ECONOMY IS CONTRACTING, WHERE WE
HAVE CORE PRICES ARE AT 40-YEAR
HIGH AND GASOLINE IS BACK ON THE
RISE, OH, YEAH, IT’S DOWN FROM
THE NEW RECORD, YOU KNOW, A FEW
MONTHS AGO, MORE THAN $5 A
GALLON BUT ALL OF THIS IS
BECAUSE OF THE DEMOCRATS AND NOW
WHO RUNS THE FED BUT HE’S A
DEMOCRAT NOMINEE AND DEMOCRAT
APPOINTMENT THAT’S JAY POWELL.
AND SO FOR HIM TO SAY THAT, HE’S
-- HE’S GASPING FOR AIR HERE
BECAUSE HE HAS NOTHING LEFT TO
SAY IF THIS IS ATTACK HE’S
TAKING.
CAN I SHOW YOU THE FRONT PAGE OF
THE NEW YORK POST.
DAMN LIES AND JOE BIDEN ABOUT
INFLATION.
8.2% INFLATION.
THERE YOU GO.
MARIA: WELL WITH, I MEAN, I
THINK THAT HE KNOWS THAT THIS
HAS OCCURRED ON HIS WATCH AND HE
KNOWS THAT ALL OF THE SPENDING
HAS STOKED INFLATION BUT HE’S
JUST MISINFORMING.
I DON’T THINK HE’S UNAWARE OF
HOW WE GOT HERE.
HE’S MISINFORMING AS HE DOES
OVER AND OVER AGAIN.
WHAT DO YOU THINK.
JOE: YOU’RE BEING GENEROUS TO
MISINFORMING.
IT IS LYING TO THE MESH PEOPLE,
HE WAS LOOKING TO THE BRIGHT
SIDE OF THE MOON WITH SQUINTING,
UNSETTLING TO WATCH DURING VISIT
TO LOS ANGELES YESTERDAY AND HE
KNOWS HE COULD GET AWAY WITH
THIS PERHAPS BECAUSE MANY IN THE
PRESS RUN COVER FOR THIS
PRESIDENT.
LET ME READ YOU POLITICO’S
HEADLINE, WHY THE FED AND BIDEN
WON’T PROCLAIM MISSION
ACCOMPLISH EVEN AS INFLATION
EASES, EASES TO WHAT, 8.2%.
THAT’S SIX TIMES HIGHER THAN IT
WAS UNDER PREDECESSOR AND YOU
LOOK AT PRICES, MARIA, PUBLIC
TRANSPORTATION, 27%, EGGS 30%.
BREAD 14%, MILK, CHICKEN 17%,
THAT DOESN’T SOUND LIKE 2% TO
ME.
THE AMERICAN PEOPLE KNOW AND
THEY WILL LET THEIR VOICES
HEARD, THIS IS BY FAR NUMBER ONE
ISSUE FOLLOWING THE ELECTION.
MARIA: FOLLOWING YESTERDAY’S CPI
REPORT THE PRESIDENT SAID HE
MADE PROGRESS ON INFLATION.
HE WRITES, THIS INFLATION OVER
THE LAST TWO MONTHS AVERAGED 2%,
DOWN FROM 11% IN THE PRIOR
QUARTER.
WHAT IS HE TALKING ABOUT?
YOU JUST MENTIONED ALL OF THOSE
ITEMS, EGGS WERE UP IN PRICE
LAST QUARTER 40%.
EGGS THIS QUARTER, THIS MONTH UP
30%.
SO, I MEAN, WE ARE TALKING ABOUT
PRICES THAT ARE CUTTING INTO
PEOPLE’S WAGES JUST TO GO BUY
BREAKFAST.
>> WAGES ARE SO IMPORTANT
GROWING BY ONLY WHAT 5.2%
ANNUALLY, 5%, SOMETHING CLOSE TO
THAT WHILE CPI IS 8.2%.
SO THE AMERICAN CONSUMER IS
SUFFERING FROM WHAT IS NOW A
19-MONTH LONG EROSION OF REAL
PURCHASING POWER AND I WILL TELL
YOU RIGHT NOW THE YEAR TO YEAR
DECLINE BY THE REAL WAGE IS THE
DEEPEST SINCE 1990, COWBOY KID
ENTRY WE HAD A RECESSION IN 1990
AND TWO PREVIOUS TIMES WE HAD
REAL WAGE DOWN BY MORE THAN 2%
ANNUALLY.
WE SUFFERED RECESSIONS, SO
THAT’S IN THE PIPELINE.
MARIA: DAGEN, THE TOP OP-ED IN
THE JOURNAL THIS MORNING,
INFLATION AND THEY’RE TALKING
ABOUT A LAWER STANDARD OF LIVING
BUT THEY PUT IT ON CONGRESS.
I WOULD PUT IT ON THE DEMOCRATS
LARGELY.
YOUR THOUGHTS?
>> IT’S -- IT’S CONGRESS, THE
DEMOCRATS IN CONGRESS AND
DEMOCRATS COMING OUT OF THE
WHITE HOUSE BECAUSE A LOT OF
WHAT IS EXTREMELY INFLATIONARY
DID NOT COME OUT OF CONGRESS.
IT STATEMENT STRAIGHT OUT OF THE
WHITE HOUSE.
MARIA: IT’S TRUE.
ONE OF THE MOST INFLATIONARY
THINGS THAT THEY’VE DONE IS THE
EXTENSION OVER AND OVER AGAIN, THE MORATORIUM ON MAKING STUDENT
THE MORATORIUM ON MAKING STUDENT
LOAN PAYMENTS.
NOT JUST DEBT FORGIVENESS AND
EXTENDED THROUGH THE END OF THE
YEAR.
THESE ARE STIMULUS CHECKS IN
ESSENCE THAT ARE GOING TO RICH
PEOPLE.
THIS IS A COUNTEREFFECTIVE
POLICY COMING OUT OF THE WHITE
HOUSE.
IT’S CONGRESS, IT’S THE WHITE
HOUSE AND I SAID THIS YESTERDAY,
THAT THAT 2 TRILLION-DOLLAR
STIMULUS THAT WAS PASSED OF THE
EARLY PART OF BIDEN’S
ADMINISTRATION, THAT IS STILL
BEING SPENT TODAY RECKLESSLY BY
STATES FROM COAST TO COAST.
SO YOU HAVE A FEDERAL RESERVE
THAT LITERALLY IS GOING TO
DESTROY THE HOUSING MARKET AND
DESTROY ANY CREDIT RELATED
INDUSTRY IN THIS COUNTRY BECAUSE
THE DEMOCRATS AND JOE BIDEN ARE
NOT HELPING THE FED FIGHT THAT
INFLATION.
THEY’RE MAKING IT WORSE.
MARIA: THAT IS A POINT THAT
JASON SMITH, NO, INFLATION HAS
NOT PEAKED BECAUSE MUCH OF THE