we will talk to cecilia rouse in the 8:00 hour. she worked for president obama when president obama said we will not do any gimmicks with the gas tax. do you really think giving people a free half a tank of gas is going to make -- equating it to that. just not going to do it. that's a lot of clipped played over the weekend whether or not it makes sense to do it. president obama didn't think it was worth it called it a gimmick. according to aaa, the average price of the gallon of gasoline ticked below $5 a gallon crude prices, as we mentioned are not 130$130 back to $110 and they are down. up $2.60 to $110 we were below $110 checking crypto. bit pro shares plans to launch the first short etf for bitcoin. the first to launch bitcoin futures etf. this short strategy will trade on the nyse under the ticker bite me. no biti >> biticent. >> yeah. no "m" there released yesterday you know what? markets and everything else -- what do you want we have to have a sense of humor. yesterday, michael sapio says as recent times shown bitcoin can d

already raised interest rates in an attempt to combat that inflation and economic advisor doctor cecilia rouse as we are starting to see the economy cool down. this economy is strong. it's also showing signs are starting to make the transition to a normal a more normal economy. but she doesn't think we should worry about a recession. we don't see signs that the u.s. economy is slowing down in response to the federal reserve's actions in a way that would suggest that a recession is around the corner. the biden administration says the war in ukraine is a major driver of high costs. i understand that families who are struggling probably don't care why the prices >> they just want go down. the president says he has taken steps to tackle that like releasing oil from the reserves and negotiating with global trading partners for grain. i'm going to continue to use every tool available to me to further blunt those price hikes. but he says congress also needs to act. we can do so much more if we come together to lower costs for american families. specifically the president wants congress to pass the le

already raised interest rates in an attempt to combat that inflation and economic advisor doctor cecilia rouse are starting to see the economy cool down. this economy is strong. it's also showing signs are starting to make the transition to a normal a more normal economy. but she doesn't think we should worry about a recession. we don't see signs that the u.s. economy is slowing down in response to the federal reserve's actions in a way that would suggest that a recession is around the corner. the biden administration says the war in ukraine is a major driver of high costs. i understand that families who are struggling probably don't care why the prices >> they just want go down. the president says he has taken steps to tackle that like releasing oil from the reserves and negotiating with global trading partners for grain. i'm going to continue to use every tool available to me to further blunt those price hikes. but he says congress also needs to act. we can do so much more if we come together to lower costs for american families. specifically the president wants congress to pass the legislat

already raised interest rates in an attempt to combat that inflation and economic advisor doctor cecilia rousenomy cool down. this economy is strong. it's also showing signs are starting to make the transition to a normal a more normal economy. but she doesn't think we should worry about a recession. we don't see signs that the u.s. economy is slowing down in response to the federal reserve's actions in a way that would suggest that a recession is around the corner. the biden administration says the war in ukraine is a major driver of high costs. i understand that families who are struggling probably don't care why the prices >> they just want go down. the president says he has taken steps to tackle that like releasing oil from the reserves and negotiating with global trading partners for grain. i'm going to continue to use every tool available to me to further blunt those price hikes. but he says congress also needs to act. we can do so much more if we come together to lower costs for american families. specifically the president wants congress to pass the legislation that he's proposed for t

already raised interest rates in an attempt to combat that inflation and economic advisor doctor cecilia rouse as we are starting to see the economy cool down. this economy is strong. it's also showing signs are starting to make the transition to a normal a more normal economy. but she doesn't think we should worry about a recession. we don't see signs that the u.s. economy is slowing down in response to the federal reserve's actions in a way that would suggest that a recession is around the corner. the biden administration says the war in ukraine is a major driver of high i understand that families who are struggling probably don't care why the prices >> they just want go down. the president says he has taken steps to tackle that like releasing oil from the reserves and negotiating with global trading partners for grain. i'm going to continue to use every tool available to me to further blunt those price hikes. but he says congress also needs to act. >> we can do so much more if we come together to lower costs for american families. >> specifically the president wants congress to pass the leg

charles: today white house economic add vier -- adviser cecilia rouse said he will look at what he can this for years but even more vocally of late as it's clear the transition to a green utopia is going to take decades. i don't think the white house is going to relent, but what if they built two or three new refineries, wouldn't that be something? and biden could pitch to the thc as a temporary presidential retreat. george washington sneaking 9,000 troops and equipment out of brooklyn just one day before certain doom and defeat. and then, of course, there was george washington's famous retreat from the british and hessians crossing the hudson. this was in november, 17 # 76 -- 1776, and one month later perhaps the most famous revolutionary war event, george washington crossing delaware river. you've seen the painting before. on christmas day, 1776, surprise attack on the hessian forces in relationshiptop. that victory was the turning point if -- for the army and and, of course, the united states of america. so, pride, now's a great time to rereit from your war ons fossil fuels. allow a

rose: madam speaker, recentl cecilia rouse, the chair of the white house council of economic advisors was trying to explain away the challenges that run away inflation present to most american households. she said, i quote, most american household balance sheets are strong and can provide some cushion for rising prices. close quote. i was shocked to hear these remarks coming from one of the president's top economic policy advisors. madam speaker, most americans, in fact, do not have a cushion for rising prices. a recent survey found that 56% of americans cannot cover a $1,000 emergency expense from their savings. that's why i led a letter demanding that chair rouse apologize to the millions of americans struggling with skyrocketing prices due to the failed economic policies of the biden administration. madam chairman, i ask that -- unanimous consent that that letter be entered into the record. today. the speaker pro tempore: without objection. mr. rose: if remarks like these are reflective of the advice being given to the president of the united states, it is no wonder that they conti

on a recent asked cecilia rouse, chair of the council of economic advisers said most household balance sheets are strong and can provide somecushion rising prices . yes,sir no would you agree with that statement ? >> yes. >> previously, you had expressed that inflation was too low and you responded by repeating that inflation was too low and you interest rates were also too low. do you still think that low inflation we saw prior to the pandemic was a bad thing? >> i think two percent which is the fed's long run average inflation target is an appropriate target and as we've seen in japan will all the concept of monetary policy and create deflationary pressures which are not healthy for an economy. >> after the tax cuts and jobs act that was enacted the us had wage growth of approximately 3.5 percent and inflation around two percent and as i've said before we currently have eight percent inflation and five percent wage growth.yes, sir no would you believe the present inflationwith five percent wage growth is better for working families ? >> eight percent inflation is an unacceptable infl