“Lethal Political Combination”: Supply Chain, Inflation Haunt White House

The White House announced this week that President Biden would soon sign into law the $1 trillion legislation, an infrastructure package that took months of debate, revision, and bipartisan support to pass. This win for the Biden administration comes amid economic hardship in the U.S. with inflation hitting a 30-year high in October. Fox News Sunday Anchor Chris Wallace joins to break down how President Biden’s ambitious political agenda may inject too much money into the economy at a time when inflation is already too high, the potential need for the Biden administration to recalibrate their goals to address the bigger issues affecting the nation and whether the President’s social spending package will be the last of the Democratic agenda to pass before 2022.

Earlier this week, the government reported that prices for U.S. consumers surged 6.2% in October compared to a year ago, hitting the highest inflation in 30 years. Americans are feeling the impact of rising costs at the gas pump, the grocery store and through ongoing supply chain issues. So what is causing inflation and will it ever come down? Chief Economist at Moody’s Analytics, Mark Zandi weighs in on that, supply chain issues and why he’s optimistic that once the coronavirus recedes inflation will as well.

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Plus, commentary by former Education Secretary Betsy DeVos.