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Here's your money briefing for Friday, December 13.
I'm JR Whalen for the Wall Street Journal.
Inflation has trended downward for the past year but prices are still high.
Easing the pain for consumers was one of the themes of Donald Trump's 2024 presidential campaign.
His biggest answer was he was going to drill baby drill that by opening up drilling,
by making permitting processes and so forth,
easier that energy costs would go down and that would bring down overall inflation.
Is that likely to work?
We'll talk to Wall Street Journal economics reporter Justin Lehart after the break.
President Trump has promised to tackle inflation once he takes office but how much power does he actually have?
Wall Street Journal economics reporter Justin Lehart joins me.
Justin bring us up to speed.
Why did inflation race up so high in 2021 and 2022 and why our prices still stubbornly high even
though overall the rate has come down?
There are a few things that went on that pushed inflation up for sure the pandemic and the supply chain problems that it caused were huge problems.
Economists also think