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Look how much gas prices are down over the past month, seven states are at $3.50 or lower, 20 states are $3.75 or lower. >> you showed us the consumer spending report, retail sales, that's what they're doing. we're also expecting a report on what they're thinking. >> people say they feel absolutely lousy about the american economy but they're still spending and that's been so interesting. we learned friday consumer sentiment lousy but slightly less lousy and i think as time goes on these gas prices coming down and the signs that inflation are peaking, we learned this last week as well, these m...

Are signs that perhaps they might be able to, as long as people have jobs, as long as the job market remains high, the feds will have to keep raising interest rates a bit in order to try to get this broader inflation down. now i mean, we talk about gas prices coming down, almost 40 cents in the past month. that is great. they were at $3.50 before russia invaded ukraine. so the fed can't get international security stuff. they can only do what they can do. gas prices will come down a bit, there's no way that we can replace the russian oil volume on the global market. so there are some things the...

Sure, absolutely. the idea that -- americans see through all the rhetoric coming out of the white house. they know that we had 40-year high inflation before the war in ukraine. they know that we had reached the highest 30-year-on-year increases in gas prices before the war in ukraine. when joe biden took office gas was $2.46 a gallon. by october it was $3.50. that's long before the war in ukraine. as for inflation, look, you don't have to take my word for it that the american -- quote unquote american rescue plan unleashed this. listen to the democratic economists. larry summers february of 20...

The food shortage. they are furious about gas prices. they don't care how you get it, mr. president. just get us some gas and get it fast. watch this. >> $5.25. >> it doesn't look like it's getting any better. it would be good if it was at $3.50 or $4. we used to think that sucks but now it's at five. >> every day i come to work and it goes up another five or $0.10. a lot of people can afford that. >> that's pure crazy for people to pay that much for a gallon of gas. >> it impacts me a lot because at this point i don't want to do so much driving around. i took my son up to the school. he has b...

Russia, they spiked to $125 a barrel. we're back down to $100 a barrel, but all of it is attributable to the russian invasion. if that hadn't happened, we would be paying maybe $3.25, $3.50 per gallon of gasoline, not $4.25, $4.50. it's about russiana's invasion of ukraine. >> mark zandi, thank you so much. >> sure thing. >> up next, they're software engineers, published authors and now tank operators. meet the young professionals among the ranks of fighters in ukraine. and the power and influence of donald trump is being tested again tonight. stay with us. raise ththe jar to all five layers...