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Shannon: reporting live from the white house, thank you so much. joining us in washington is jared bernstein. hank you for being with us on fox news sunday. >> my pleasure, shannon. almost a year to the day that president biden said no serious economists out that we would enter a period of unchecked inflation. 9.1% as of this week. how did the white house get this so wrong? >> that was the dominant or cast at the time. we were fighting forecasts across the board. i think there were a number of issues. there were some unforeseen things that occurred. for example, the war in ukraine. ukraine and...

And friday morning, it was pounded by several russian missiles that have just devastated the building and also landed in surrounding fields. this city is getting hit day after day. i've been to an elementary school that was destroyed. another university has been hit. there's a hotel we went to today that's been hit, hospitals as well. the russians are also rocketing other cities across the country in what the ukrainian government alleges are acts of terrorism. it's not just cities being hit, too. it's also ukraine's enormous agricultural industry. this is the world's fifth largest exporter of ...

Biggest bread baskets in the world. ukraine's fertile farmland now a battleground. military drone footage exclusively obtained by cnn shows russian artillery pounding wheat fields, burning the summer harvest charcoal black. farmers race to protect their crops. until russia's invasion, ukraine was the world's fifth largest exporter of wheat. >> this looks like some kind of munition over here. >> now, ukrainian farmers are harvesting a deadly crop. mikhail says these are pieces of russian rockets that they gathered out of the fields. mikhail takes me on a tour of his farm. he'll show us. that's ...

Inflation. he did seem to get the timing right. what do you think is behind this inflation? >> so, i think there are two things happening. the first thing is in the real world. that's covid and the war in ukraine. we started to see throughout the pandemic supply chains raking down. the world becoming much more regional in some ways and local in some ways. that's inflationary. when you add's time and stress to the system, you get pressures. this is taking russian energy out of the market which is a huge deal for energy inflation. it's also taking ukrainian wheat and grain. this is one of the ke...

Inflation. didn't seem to get the timing right. what do you think is behind this inflation? >> i think there are two things happening. the first thing is in the real world, and that's covid and the war in ukraine. we started to see throughout the pandemic, supply chains breaking down, the world becoming much more regional. local in some ways. that's inflationary. when you add time and stress to the system, inflationary pressures. at the same time, you have the war in ukraine. this is taking russian energy out of the global market which is an immediate huge deal for energy inflation but also ta...