Inflation has crept up to 7.5%, the highest it has been in 40 years. Prices of food, energy and used cars are all up, and in practical terms, the average U.S. household is spending an additional $276 a month. The middle class also continues to be hit harder than other groups. Gwynn Guilford, economics reporter at the WSJ joins us for how much inflation is costing you.

Next, Russia has begun conducting military drills on the Ukraine border worrying Western officials that they are readying for an invasion. In the meantime, President Biden has approved a plan to help Americans flee Ukraine if Russia does invade. Biden has warned Americans in the area to get out because things could go crazy quickly. Nancy Youssef, national security correspondent at the WSJ, joins us for more.

Finally, a New York City couple was arrested Tuesday on charges that they laundered some $4.5 billion that was stolen in a breach of a cryptocurrency exchange. In 2016 almost 120,000 Bitcoin was stolen from crypto exchange Bitfinex. Federal officials wanted to make clear that despite the security of crypto, it is still highly traceable and criminals should beware. Justin Rohrlich, reporter at the Daily Beast, joins us for the largest financial seizure ever by federal officials.

Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

See omnystudio.com/listener for privacy information.