the boom, but no one business. you know, you can't afford to miss the branch board. and i'm rachel blevins in washington. coming up, inflation rises at its vastness rate in 40 years as a cost and food, shelter, and fuel continue to store all the stuff. what kind of a response we can expect from the fat in the weeks to come? and speaking of increasing costs, boil prices continue to climb as us doc power dwindle and demand source will take a look at what's in store as we get closer to $100.00 for barrel. and this df tc is wrapping up. it's called to regulate the crypto space as the organizations head has asked for more powers in the sector. we'll break it all down. we'll have to get to go. i would leave the program with the latest data from the consumer price index, showing inflation hit 7.5 percent in january on an annualized basis. that that's the highest annual rate since february of 198240 years ago. it's also more than

doubt the dow jones estimate of 7.2 percent with your food and shelter costs leading the way from december to january, the cost of rent rose that it's fast paced in 20 years like tricity was up at its highest rate in 15 years and household furniture, so its largest one month increase on record. this as 2 of the largest increases have been price, the price of hotels up over 20 percent and used cars and trucks up over 40 percent, just in the last year. now it's also important to note here that the last time inflation was this high, the federal funds rate, which is the interest rate at which banks and depository institutions, trade federal fund was over 13 percent. you're hitting an all time high of 20 percent during the recession. of $980.00, however, right now the fed funds rate is around just point 25 percent. that is expected to announce their 1st increase since 2018 next month. and now the print sions that it

will be 50 basis points instead of $25.00 are increasing, but will not have an impact on the current state of inflation. well, joining us now to discuss our october, the ceo of openness, l. l. c and dominic dante, ceo of dante's outlook. it's great to have you both on the show to day, octavio. let's start with you. now the last time we saw inflation, this high, the u. s. was battling a recession and the federal funds rate was near record levels. so how does where we are now compare to where we were in the early 19 eighties? a question about an early 198 is but it does raise a question my mind exactly. how old do you think i am? i think i think you pointed out, of course, do you have to write the vent fund? it was way up to 20 percent and state very high for quite some time. inflation back then was much higher than is today we're about 13 percent back in the united nations. but it does seem we're moving in that direction rapidly a few more months like this with my get really close to it. i think the major major

differences the back then fetching in the form poker was based on pulled by jimmy carter with the express purpose of financing. inflation and paul volcker knew exactly what he had to do. you have to increase in straits fast. he had to get the money supply under control and he sent straight to work to do that. in his 1st few months in office he increased interest rates by 3 percent in one month, even he raised $200.00 basis points. so that's a far cry from this discussion, having now about the noise at $25.00 basis points or 50 basic points. he was all in with 200 basis points and he tightened the screws for quite some time. and he kept in strict above 10 percent for 3 years, and that's what was necessary to get placed under control. i think we're going to need to see something some of this time around. so i don't detect any average height on the part of the fit. this time around in terms of really engaging in that kind of policy, really taking the bull by the horns and false inflation. now i think the response so far has been tested great powers talking 1st good night. inflation existed at

all and then he said it's trans trace as then don't worry about, it will go away and all that failed fine. he's getting mount raising industries. i don't know, it's taken him so long. he knew what he had to do. he seems very reluctant about doing it. i'm not expecting any heroic deeds from him in the coming months. absolutely. especially with the political pressure on j power doesn't seem like he kind of has that fortitude to go that nature quite yet to move things at that speed . no, dominic, our markets reacting so far to this let is that, i mean, we know that obviously they're down so far today here in the us. but investors have been balancing their concern over the end of the, the, the monetary policy is with their concern over record inflation. so what is the feeling right now and what do we expect in the weeks to come as investors continue? or i all of this, you know, i mean, the markets are moving as expected, were coming off of the, you know, low 0 boundary 100 inflation. and i like that chart that you showed earlier about, you know, how the fed and back in the seventy's rates really high. now,

you know there's a lot of tools in the toolkit, and i think the hawkish talk that we've been getting over the past year almost has caused some of the tightening already. so we are seeing like a shadow rates pick up and you know, economic models loser, predictive power when rates are at the low lower bound. so now we're just seeing is like some of that tightening taking place. and also if you look at the contributions to the movement, it's been mostly focused on policy and growth as breakeven rates have been declining. but then now the markets expecting rates to pick up as soon as march. and then if you look at the overnight interest rates or the overnight markets, they're showing that the yield curve might invert about 2 years. so typically after you get the curbing version, you tend to talk about recession. so right now the markets, i think our position release cycle dynamics, and typically in late cycle you have inflation, you have lower growth, that benefits. assets like commodities which we've been seeing. commodities have

had the last decade. and now you're seeing positioning from asset managers into that space pretty strongly. we're also seeing defenses of pick up those types of names like that. so it's a little bit of a risk off environment. typically, you'll tend to get lower returns, not the returns that you've got in 2020. so more defensive little bit slower returns going forward. and it's interesting that you mentioned that kind of looking at what we might be thing as the precipice to a, a recession here, because that's where the talk was in 2019, then the, then the pandemic happened. and then everything thrown in there with all of this easy monetary policy. so it maybe was just kicking the can down the road a few years. know, octavio, we've also talked about how the fad has put itself in between a rock and a hard place since the pandemic began. and now we're in a place where the fed has to raise rates. but it seems as though any meaningful increase would upset the market. so is there a solution here for chairman power? i mean, as he said, he's just going to have to walk that type rope. i don't think there is an easy

solution for him. i, i think i, they get inflation under control and crashes the market, or he led to inflation run rampant. that i think there's the 2 choices it has. there's no other choices on the table them. i think however, what we're thinking about is what the bite administration might do in the scenario so that they're facing, of course, mid term elections in november of this year. and they're going to have to do something. inflation is becoming a very, very strong political liability for president biden and for to them credit party. so they are going to feel forced to do something. interest rates increases are not going to get this under control. i are november by the mid term elections, so they're gonna have to do something on their own before that. they've made some noises about price gouging about big oil, taking advantage of the situation about meat packers charging too much for me. i expect they're thinking about some, some price control strategy and putting price controls to place a few months before the election so that they can demonstrate showed that the very

serious about inflation. i'm not endorsing that policy. i think it's a good idea, thinks a terrible idea because making things much worse, but i think they're going to have to do something like that to make it look like they're doing something very decisive about inflation getting under control. and it might resonate really well with the, with the populace in the very short term. and it might help them in the election ultimately cause it fails at least to shortages and even higher price than later on . but i think that's the part that we like to see at some stage this here is and there's no help isaac to continue to play a role. now dominic, when it comes to investors, we know that they have grown to trust. powell or tries. you will at least try and make them happy, but with inflation officially 40 year highs, are the markets being hit with the reality that this is in a record high is on its way to coming to an end. we've got about a minute left there. yeah, they're taking the punch bowl away. so, you know, typically you get to market skiddish, you know, in the beginning of a rate tightening or a tightening cycle, the markets do tend to be volatile. look at 2018 when we came off

a little zone. after that, you know, it tends to be ok for the markets, but again, slower returns, lower returns going forward. not like the party that we had when the punch bowl was . was well and about. yeah, certainly has been quite the party for some over the last few years. a great wealth of knowledge and insight as oh, is octavia ramsey is the and dominic dante, dante is outlook. thank you both for your time. thank you. take care. thank you. and oil prices rose once again on thursday. the us sides crewed inventories uninstall unexpectedly, drop international benchmark. brent crude was up more than one percent nearly touching the $93.00 per barrel mark, while west texas intermediate jump nearly 2 percent over $91.00 and a quarter per barrel. now this as us crude inventories for the week ending of the 4th of february fell to their lowest level since october of 2018, according to the energy information administration. now, meanwhile, oil markets could get some relief in the future as the by an administration has

been and talks with iran over the beleaguered g c p. o. way. now if you were to be reached, the u. s. could lift sanctions on iranian oil, bringing more product into the market. now obviously the issue of high oil prices affects the u. s. the most as it consumes the most oil. if any nation accounting for roughly 20 percent globally, china, which is roughly 4 times the population, consumes 14 percent of the global oil supply, followed by india, japan, and then russia. and as gasoline prices in the united states approach an average of $3.50 per gallon, a pair of democratic senators who are up for reelection mind you have called for suspending the federal gas tact for the rest of the year to ease pressure on consumers who are already dealing with ramp and inflation to joining us now discussing patrick johnson is the head of petroleum analysis with gas buddy for good pleasure to have you on patrick. appreciate your work. i want to start with that last point here because sender's mark kelly at verizon and maggie inside of

new hampshire are pitching this idea and i've got some support from other sen. how much relief would removing the gas tax for the rest of the year? really offer to consumers on california. it virtually nothing. and for the rest of the nation, the national average, you throw on an 18, a gallon rebate amounts to a 5 percent off coupon. and i don't know who really gets excited about 5 percent off. i guess it's something, but at the same time it would void $25000000000.00 that would go to the highway tro, transportation fun. so the same time, it's not a big discount. an overall gas prices are still well north of $3.00 a gallon, even if they temporarily wave the federal gas tax. yeah, certainly seems like they want to sit there and say, look at us, we're doing something, but they, when it comes to the impact that actually has, then you noted that becomes a lot more important. now when it comes to sort of the international stage and all of this, we've heard

a lot of talk about prices falling. if iran is able to put oil back on the market. now is that the only real hope here to stopping the skyrocketing gas prices in the u. s. and how much of an impact could have? well, either that or also convince russia to hold firm for now and not to bade ukraine, that certainly would add more turmoil. of course, we'll have turmoil, but really there's not any saving grace here except the rounds crude oil, which has been making it to the market in trickles on the grand black market. its been making its way to china, but to welcome the rounds oil back the global market would certainly be good news and certainly president biden has been addressing the high price of oil, the high price of gasoline. of course, democrats now with this proposal to ease the tax burden. but the best thing potentially to do is to ease sanctions on iran, making a new deal and have that oil pull back to the global market. right. that's absolutely right, because the dividing ministration has made moves, whether they're wrong, it's hard to say because, you know,

obviously they've asked opec plus to pump more, and they're saying, no, not right now. how much is the energy policy here in the united states affecting all of this? because as they push for green energy, you're seeing less crude coming out of the ground here. is that affecting the global oil strategy? we hear a lot of analysts say that, but i want your opinion on it. well, certainly i think the optics aren't great, right. the president is, is not friendly to the oil and gas sector. he's pushing the nation away from the bees, and i think that's spilling down to investors and oil stock. i mean the writings on the wall, according to the president, he's pushing the nation completely. e v. 's. he doesn't really envision much in terms of internal combustion engines in the decades ahead. i think that's the wrong move and that's what's driving prices up so much more. i think he needs to embrace a little bit. you know, we've heard a lot about transitory, but we're going to need gasoline and liquid jewels for the next several decades if not longer. and the president's making it very difficult and much more expensive during the transition to fill your car up. i think we should welcome oil and gas it

has in place as we progressed or d, 's without making it more expensive, like the president is doing by shutting it. and i know that there's really a lot of play right now with the question then becomes if nothing happens here, how high our oil and gas prices going to get, what is your forecasts on that? well, it's not good for the american motor is like you said, we're probably the most vocal bunch globally because we're used to affordable energy. i think the national average probably will hit that for dollar gallon mark, barring a deal with iran. and that could happen as soon as april, or may. the average increase in u. s. gas prices is somewhere in the ballpark of $25.00 to $0.75 a gallon starting in march, lasting for memorial day. and that puts $4.00 a gallon for a national average. right? it prime target. and obviously we've talked a lot about that idea of $100.00 per barrel oil. and of course that's right on the right. as patrick had a petroleum analysis, that gas buddy hope you're happy back to and thank you so much. thanks for having

met and speaking with energy. japan is now planning to divert some liquefied natural gas to europe after a request from the u. s. and the you in case of a supply disruption, amid tensions at the ukrainian border, that japan's industry minister said this shipment should arrive next month. and a further surplus could be sent once the nations needs were met. and several other carriers are already on their way to set and set to arrive before the end of this month. as we have mentioned, of course, russia is the europe largest natural gas provider and energy analysts say this latest move from japan. well, it's not gonna make much of an impact on the continent, energy security because of their massive need. you know, it's interesting here because we have heard the united states trying to push your up towards becoming less and less reliant on russia. and they come up with a number of ways, whether it's japan, whether it's due by all of these sort of solutions that they bring up. but it really doesn't tackle the biggest problem which europe is facing right now,

which is the sky rocketing gas prices. energy prices all around that have really taken a toll on their community and continue to take a call on them. and it seems like even in the united states has come along and saying, hey, why don't we do this? why don't we do that? it's still not coming back to the basic me. well, if you look at it into what patrick was talking there about the green energy movement here in the united states. it's kind of a similar thing. it's like you're making all of these points. but in reality, you didn't have a plan in place to figure this out in the 1st place. so like you said, by the way, weather comes to japan, whoever might be supplying oil, they don't have the infrastructure japan needed for their own purposes. so the gas that it to say so, so it's hard to solve all these problems with a short sided movement, like at the end of the day, it's the average people who end up suffering because of absolutely time now for a quick break. but when we come back to the department of justice doesn't just completed, it's the largest financial feature ever made up of $3600000000.00 worth the big points. we'll discuss where it came from and who stole it next. as you get a break here, the number that the quote ah

algorithm, the 7 year old networks have been following us everywhere. we look online because our relationships are what matters most us. that's how we find meeting and how we make sense um, are placing the silicon valley see don't mention in that slick presentations. however, other ghost workers who train the software humans are involved in every step of the process. when you're using anything online. what we're sold, as is miracle of automation behind your screen. it's a valuable workforce. that themes algorithm is for next to nothing. on

a very good day, i can do $5.00 now. a really bad day. i think you can use workers are invisible by design. it's about labor costs, but it's also about creating layers of western new responsibility between those who solicit this kind of work and need it. and those who do it with the democratic republic of congo is among the richest countries in the world and natural resources. but he can normally it's still one of the poorest cobalt is an essential material in manufacturing batteries for modern devices like electric cars, mobile phones and computers. 60 percent of the world's cobalt reserves are in congo . 20 percent of it comes from small scale mines. units have figures confirm that in 2017. call them $40000.00 children worked in cobalt mining in the republic to earn

a living and paying for schooling. next time you use a fancy gadget like a smartphone camera or laptop and just remember that there's a chance it works thanks to a child hard labor children like john michelle henry at all countless others like them or oh well it shows the wrong one. i just don't know any well, yes, to shape out disdain becomes the answer to an engagement equals the trail. when so many find themselves worlds apart, we choose to look for common ground. the

welcome back. as the conversation continues surrounding how crypto current these can and should be regulated, here in the united states serve the commodities futures. trading commission issued a new appeal to congress to give his agency the authority to regulate crypto in the name of investor protection. when asked about whether he believed crypto currencies are here to stay, the chairman replied, quote, my responsibility is to assume that it will continue to take root and that this technology will continue to emerge and wind itself into traditional finance. if we don't approach the technology that way, we run the risk of stability and safety issues and soundness issues. now that's all come to the department of justice. just confirm it's the largest financial seizure ever after it said they recovered $3600000000.00 worth of bitcoin that was stolen and a half of the crypto currency exchange bit for next back in 2016. now while the internet can't stop talking about who was reportedly behind that hack,

it has become another case the government is using and it's argument for more regulation, even as the crypto community has warned about the harm that would be done by the sweeping measures that have been proposed around the world. so to go further in depth on this host, christie. i know christy this isn't the 1st time this is the f t c has called for congress to give it the authority to regulate crypto currency. so where does that fight stand right? now and how likely are we to see that request granted? until there's a more clear understanding of digital assets, i don't think that that fight is going anywhere. because the c f t c is now requesting an additional $100000000.00 and funding to request greater regulatory oversight of the crypto market, including pre and post trading parents, parents. but the c s d c, historically has been an independent government agency task with regulating and monitoring the traditional derivatives mark. it has a very narrow mandate to regulate fraud and manipulation in cash markets. the see,

on the other hand, also believes that the crypto should be under their purview. there are another independent government agency whose role is to enforce laws against market manipulation as it relates to securities. so given the mandate of the 2 bodies, there really isn't a clear bucket that crypto falls into congress will have to decide on the argument of what constitutes as a commodity. and what constitutes a security in relation to digital assets. or maybe it's neither and it's a foreign exchange. it's a fx like in russia. so the issue is the same, that these bodies want an expansion of their power and their original mandate, which is a tail as old as time. central authority wants more control over the flow of capital. and right now the majority of digital assets are currently not even available to us and us citizens anyway. because most ideas and ideals, they've already been restricted due to the headache that these companies have to go through to come to us laws. so instead, companies are dropping the u. s. and you can't even participate in any of these new offerings. and liquidity is just terrible in the us market, buy and us is

a joke compared to their original buying ends in terms of liquidity, which is detrimental for any trader. and when it comes to these calls for more investor protection from the see, christy, do you see that as something that is needed right now? and how does investor education play a role into avoiding the loss of thousands or even millions of dollars in crypto? well, i see the role of education replacing that of investor protection. actually the fact that these bodies attempt to expand their power under the guise of consumer safety issues is laughable. according to the c, f t c. when they requested this additional funding, it was to be budgeted towards oversight. consumer protection was just an afterthought, and education wasn't even mentioned, which is entirely backwards. so you have our salvador and russia and china, they're actually in, but the heavily into consumer education and financial literacy. the u. s. on the other hand, is essentially a handicapping. it's consumers saying,

you're too dumb to learn this yourself. you get to play in the kitty pool where we can now monitor you. so historically, you didn't need a body like the c s d c or the fcc to prevent market manipulation. people did get scammed out of their retirement funds and all that participating in fraudulent i p o. that was a real thing in the past before the internet. but now with the internet information has become readily available. in the past, consumers didn't have much information. they had to rely on their brokers, which were in for themselves making commission. people didn't have information to learn how these deals worked, who's involved, etc. today, the internet is available to do your own research. there isn't as much information, a cemetery as there was before. so financial literacy and consumer tech education should be prioritized over regulation. if consumer safety was truly the end goal here. absolutely, and it's sad that it seems as almost business as usual here in the us. now we can't have you on without talking about this viral story of the couple who apparently

stole nearly a 120000 bitcoin. and they were then bragging about it on social media as they ran a venture capital fund or crypto currency wallet, a marketing firm. and they managed to be want to be cringing rappers we've ever seen at least here on this office. so what do you make of that case and how were they able to get away with it for over 5 years? yeah, was actually kind of impressive how they managed to get away with it. apparently the husband and wife do a laundry through several crypto exchange is a gift card for things like wal mart over hotels dot com and playstation. the law enforcement claimed that they were able to see the big winds left in the wallet because liechtenstein allegedly uploaded a list to a cloud storage and email provider that contained the addresses for the wallet that fits in excess funds were dumped into, along with the private key to access the statement says that the file was encrypted for law enforcement was able to decrypt it, though there was absolutely no explanation of how they did it or how they found the

list. if that is true, that is a terrible way to scroll away, your ill gotten gains, and it makes even less sense that a somewhat sophisticated hacker who managed to spear fish bit phenix, made such a rookie mistake and left that entire list lying around somewhere on line so apparently this document also had other accounts linked to the stolen funds and the list of dark websites for passports and id, but i really don't think that's the full story here though. christy, i got about 30 seconds left, but you know, we talk sometimes about how the block chain doesn't lie. that kind of help them track these people down. right? absolutely. and the block chain is a mutable ledger, so it does create a trail for law enforcement to actually track things down. however, the problem with cyber security and actually tracking down people is actually matching people's real life persona to their digital identity. so you can always track a digital wallet and track them down to this mysterious digital identity. but that's like looking at a shadow on the wall. the problem for law enforcement when cybersecurity,

in general, not just crypto currency alone, is matching that shadow to the actual real person in real life. and that's always been a mystery. so we still don't have the details of how they actually caught these 2 absolutely. boom bus kristi, i thank you so much for your time and that's it for this time. you go to some portable tv, portable dot tv, we'll see you next them back . other than survival guide, which they said you won't even stored at the federal luther issue. so there are you don't get a back active. oh no. what is it really came? what was it the rest and 7 years? so with this, every year, what kind of report? i made sure indian is the world's most over fish c. unsustainable exploitation of

its fish dogs, which maureen biodiversity under great thread, a lesson given a quote on sure you understand this is the cutoff system. i'm not going to pull the cookie careful for a 2nd one or 2, but our lives, despite the promise, is to end over fishing by 2020. the situation is changing to slow. well, i'm very disappointed with basically not in public interests. they also do know in the mid interest of the officials, the only interest of the fishery lobby on the face of the only one that endanger the fisherman. also at risk of losing all of them before they get to the bottom of the level, thought i get them with liberty viewership with

funding. well, they directly re sell, advertise as content to us and decide who sees what content when, and how much of it. facebook claims that these algorithms are there to learn about our specific preferences. actually, this is untrue. they are shaping preference. if tomorrow a person finds a fake point or legit video, we're saying the earth is then this content ranks. huh. at least 20 percent or maybe even 40 percent or believe it's true. it's a very dangerous thank

a with a breaking news. russia's figure skating federations. they have no doubt camilla aaliyah is innocent of any wrong doing, despite testing positive about the organization, say it's investigating the circumstances surrounding the incident. plus rushes olympic committee is raising concerns over the timing of the test results. it's a sample was taken back in december, but only revealed and the last few days. also ahead to clear political influence on the police to physically exert political will on peaceful protesters. i was just following orders is no longer an excuse canadian, off the government for forcing police to crack down on freedom convoy pro.