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Today the federal reserve kicks off a two-day meeting where many expect another significant interest rate hike. the reason for the increase of these stubbornly high u.s. inflation indicators, but now president biden trying to temper concerns. >> people are shocked by their grocery bills. what can you do better and faster? >> first of all, let's put this in perspective. inflation rate month to month was up just an inch. hardly at all. >> you're not arguing that 8.3 is good news? >> no, i'm not saying it was 8.3 is good news. it was 8.2. 8.2 before. you're making it sound like -- >> it's the hig...

Back inflation, which by the way is already falling. gasoline prices have come down 51 days in a row. other inflation indicators, copper, food prices, all of those are falling as well. so the concern is, does the fed continue to try to dampen demand and actually push the unemployment rate up to ease any further inflation pressures, or at some juncture do they come to the point and decide this is a goldilocks environment. we've got a lot of good things going on, we're rebounding, the economy is stronger than most people realize. the only reason it would go into recession, i believe, is if the f...

Again by 75 or 50 basis points at the end of the month. where do you think this goes next? >> reporter: i think they're going to be watching the inflation indicators. we've had some false starts earlier this year suggesting that inflation peak before it turns out to have in fact peaked. the data is mixed. you get inconsistent readings, so the job numbers that the white house got almost two weeks ago look like a very positive sign about slowing job creation without undue burden on the economy. then you have the inflation data a week ago, which alarmed the fed, chairman powell talked about that ...

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Right to be angry at joe biden, he is failing this country around every turn, every american is paying the price, the world is paying the price. inflation, in other words, thath it's costing american families $175 extra every month. in other words that is a $2,100 annual tax on every single household in the country regardless of income. compliments of joe biden terrific economic policies. the cost of eggs, meat, poultry fish is up 20%, on top of meat and processed meat, guess what, a predictor that steak will now become a champagne-like luxury only available to the wealthy and the ceo of kraft...