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in august from a year ago is americans pay more for everything from electricity to shelter to food with grocery prices seeing their largest 12 month increase since 1979 democrats celebrating unless with white house heralding the passage of their inflation reduction act. the president claiming measures cutting costs for american families. the bill cut cost for families, help reduce inflation at the kitchen table because that s what they look at, how much are they monthly bills and how much they pay for necessities gave breathing room as my dad would say. paul: wall street journal columnist dan henninger, kim strassel and mary and a stray zia o grady. why do you think the financial markets and investors were caught and surprised by the inflation number? i think the main thing right here as milton friedman said effects of monetary policy give us a long variable lacks so when you have the fed s tightening the responsibly economy will take a while to feed and so that s ....