How America’s Last Major Inflation Spike Finally Came To An End.

U.S. inflation hit a 40-year-high in the month of June, rising to 9.1 percent.

On Wednesday, President Biden addressed Americans who have been grappling with high prices at the grocery store and gas pump, saying the latest “inflation reading is unacceptably high” and vowing to give the Fed “the room it needs to help it combat inflation.”

Hours after the number came out, FOX News Contributor and Wall Street Journal Senior Writer Jon Hilsenrath joined Jessica Rosenthal explains why our current inflation crisis appears to be worse than many feared and how the Fed will likely address it.

And to give perspective on today’s economic woes, Hilsenrath also looked back at the massive inflation spike in the early 1980s and how that problem began and eventually ended.

Due to time limitations, we could not include all of the conversation in our original segment. On the FOX News Rundown Extra, you will hear our entire interview with the Wall Street Journal’s Jon Hilsenrath.