U.S. Defense Secretary Lloyd Austin is travelling to Southeast Asia next week where he will be visiting Singapore, Vietnam and the Philippines. The Biden administration is looking to strengthen the U.S. role in the region where China holds a large influence and amid tensions and military activities by the communist regime in the South China Sea. Rep. Darrell Issa (R-CA) explains what’s happening in the South China Sea, the latest on the Microsoft Exchange cyber-attack and what he thinks the U.S. and our allies need to do to hold China accountable.

As economists debate whether the surge in inflation is simply a short-term readjustment to the changing pandemic economy, Federal Reserve Chair Jerome Powell says the issue is a “perfect storm of very strong demand and limited supply.” While the Fed is confident that the spikes in consumer prices are a temporary issue, it remains unclear when that trend may begin to reverse. Meanwhile, food prices are on the rise and as a result restaurants across the country are struggling. Gerri Willis of Fox Business joins to discuss the how consumer prices are affecting the restaurant industry, why the fall will be a critical time for establishments and she forecasts what could happen to the restaurant business if inflation becomes a long-term issue.

Plus, commentary by former Rep. Jason Chaffetz, host of theĀ Jason in the House podcast.