BOB NARDELLI: This administration decided on day one to surrender our energy independence and make us vulnerable and more dependent on supply from Saudi Arabia and other countries that we kind of held at arm’s length, because of some of their political issues and humanitarian issues. But I think supply chain, on a broader scale, is inseparably linked to inflation. And again, I heard what Brian [Deese] said about prices coming down.
I just spent an hour this morning with one of our portfolio companies. Again, I deal with Fortune 500 midcaps and we’re seeing 20% increases regularly. I was in L.A. last week and I saw a 4% price increase for a health and happiness charge for the restaurant. I don’t see this going down at all. Price increases are almost like COVID, it’s spreading like crazy and everybody is rushing to increase prices because they think the door might close as we get into a further decline in the second half of this year.