The global energy crisis is becoming a bigger problem for the economy. The Consumer Price Index -- the best way to measure inflation in the U.S. -- jumped 5.4 percent in September compared to last year -- that’s according to new data released this week. How is the Federal Reserve and the Biden administration reacting to this latest data?

Axios Re:Cap talks with Axios’ chief financial correspondent Felix Salmon who’s been reporting on the latest consumer price index data.