How Arbitrarily Is That Basket of Ingredients in the CPI?

Andy Kuchins: How arbitrary is that basket of ingredients in the CPI? He says politicians are incentivized to tell us that inflation is dropping, that they've got this under control. But he says we're probably going to see increased and prolonged inflation on necessities like food and fuel. Kuchin: I think it's going to be a massive problem bigger than most people expect.