He said it's only going to get worse. Inflation only has one way to go.

Up.

Tucker said Peter should feel vindicated. He's been right on inflation all along. Peter emphasized that inflation didn't just happen overnight.

Inflation has been a problem for a while. We just didn't care about it when it made stocks go up or real estate go up. But now that it's making food prices go up and energy prices go up and rents go up, it's a bigger problem."

Peter also emphasized that inflation isn't created by COVID, or by Putin, or by "greedy corporations."

There's one source of inflation. The actual definition of inflation is an expansion of the money supply. And it's the Federal Reserve that's been expanding the money supply. They've called it quantitative easing, but they keep creating dollars. And it's the US government that spends those dollars into circulation, and as it does that, the value of each dollar goes down. So, the price of everything that you buy with dollars goes up."