and douglas holtz-eakin former cbodirector. steve moore, larry summers who did rings bell 3 years ago about, on the biden inflation, and over spending. has now lost his compass or maybe he has come back to the fold, and predicting trumpian inflation. you could say that may cause inflation but trump's policies of derecession reaction tax cut -- deregulation and tax cuts and drill, baby, drill and et cetera did not create inflation the first time, why would it be this time? >> well, a great point. average inflation rate when trump of the president for 4 years was between 2 and 2. 5%, you are right we were at the target on that fed sets. and by the way, at the end of former president trump presidency, inflation rate was 1.6% that is below fed target, you are right that he did it through a supply side agenda of increasing output of the economy. when the output goes up. in supply goes up price of things goes down. i don't understand how larry summers comes up with this, i will say there are two warning signs, number one, i do think