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Carl Quintanilla, Jim Cramer and David engaged in a wide-ranging discussion about inflation news that sent stocks tumbling: The Consumer Price Index for June up 9.1% from a year ago -- a new four-decade high. National Economic Council Director Brian Deese joined the program with White House reaction to the numbers. The anchors also explored how big an impact inflation could have on earnings season, as big banks get ready to report. Also in focus: Twitter sues Elon Musk as it looks to enforce their $44 billion deal, Delta's earnings miss on higher costs, Google's hiring slowdown, plus M&A: Game development platform Unity Software agrees to buy ironSource in a $4.4 billion all-stock deal. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.