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Paul volker spiked up the rates and said we'll take the pain now. you had a president who said we'll cut taxes and help stimulate the economy. you don't have an administration that wants to go that route right now. >> harris: no. when you talk about the prices of things, we know there could be a bottom for the market but where could the top be for what we pay for just the basics? >> it could get worse from here. most people say they expect price inflation rise to continue for another year, possibly longer than that. we'll get another cpi report tomorrow. it may be slightly less than 8 1/2% wha...

The nasdaq tumbled almost 4.5%, and get this, the nasdaq has lost a quarter of its value this year. not long ago the forecast was forle coming gas prices by memorial day. the opposite has happened. aaa says the national average is $4.37 a gallon, racing up above the record high. and context here, adjusted for irn nation, yoinflation, you woo see the gas prices at $5, but every time you can tell the difference. diesel national average $5.54 a gallon, up 49 cents in a month. but the oil market is taking a breather. it fell monday. crude tumbled 6% to just about $103 a barrel. flip side of what r...

Message on the economy, top of the list for many is the country's skyrocketing inflation and the steps his administration will try to take to ease those rising costs. the message comes at a time when gas prices have been hitting another new record -- not in real terms, but another new record this morning, the national average of $4.37 a gallon. that's driving up the price for everything. jeremy diamond joins me now. jeremy, listen, the white house knows it has no silver bullet on this, no administration does, there are a lot of global national issues here, supply chain issues. but there is als...

Maybe they do see abortion as a cure to the baby formula shortage. who knows? and people are seeing a white house of obviously doesn't care at all about rising costs. while joe is blaming republicans for the price hike, he has let gas prices to get out of control. biden is breaking his own records like jordan with gas hitting a national average, are you ready? $4.37 a gallon this week. remember when joe told us that releasing oil from the reserves would help? well, let's look back. gas prices are up nearly 20 cents since biden did that. does it look like he cares? well, we sent my assistant jo...

The wrong direction, pete. >> reporter: and they're rising so fast, bianna. you know, earlier here in this neighborhood it was $4.09 for a gallon of regular. now $4.37. that's higher than the national average for a gallon of regular according to aaa. now $4.37. the last time we saw a number this high, this actually surpassed even completely beat out the previous record, was $4.33 back on march 11th, highest number we saw since july of 2008, but this is going up so fast, just a week ago it was $4.20. back a year ago, $2.97, kind of hard to think about when you consider the numbers today. this i...