falling, so we haven t seen very much of any progress in underlying inflation yet. that s whatjerome powell said, that inflation is still too high. this is the 10th hike in 14 months and the fed did to signal that it might cause increases. would that be the right step? i increases. would that be the right step? right step? i have no idea,j powell has right step? i have no idea,j powell has no right step? i have no idea,j powell has no idea, - right step? i have no idea,j powell has no idea, and - right step? i have no idea,j powell has no idea, and the j powell has no idea, and the reason is that we need to see what s going to happen in the economy. you know, a year ago, it was clear that interest rates needed to be a lot higher, and so they were on a path to go up, no matter what the dataset, they will still be on that upward path. right now, we don t know how tight credit will be as a result of the banking situation, we don t know the trajectory for unemployment, we don t know w
very openly worried about in the past, and he said he doesn t think it necessarily raises the risk of a recession, and he does hope that the fact that jpmorgan is stepping in here and buying most of first republic that that s going to stabilize the situation. boris, let s hope it does because the longer this banking crisis goes on, the more damage it s going to do to the real economy. absolutely, dimon saying the banking situation has been stabilized, but the economy not yet completely out of the woods. matt egan, thank you so much for that report. boris, still ahead, e. jean carroll back on the stand today in the civil defamation case. the judge denying the former president s call for a mistrial. we are live at the courthouse. plus, tens of thousands of people risking their lives and traveling hundreds of miles to get out of sudan. evacuees tell us the journey to safety is just the beginning. we re going to show you their stories. and later, the ocean blob,
always the most risky investments that suffer ie, in the developing nations where you are trying to the world bank is, of course, trying to help. i m just wondering, how concerned are you about the fallout of this current banking situation? it is a big added problem so already, the world does not have enough commercial bank lending. that has been a problem that the qe period, where in the us and in europe, the money was allowing long term investments to bond markets. you know how the bond markets, the big countries were buying back the stock and that left smaller businesses without the commercial bank loans, the working capital financing. how do you finance accounts recevable and inventory when banks don t have that much desire to talk with smaller businesses? so that was a problem and now, with this, it adds to that problem, and includes, as you say, the developing countries. it s going to be very hard for them to get the short term lending that is vital for people trying to get u
trying to, the world bank is of course trying to help. i m just wondering, how concerned are you about the fallout of this current banking situation? it is about the fallout of this current banking situation? about the fallout of this current banking situation? it is a big added roblem is banking situation? it is a big added problem is already banking situation? it is a big added problem is already the banking situation? it is a big added problem is already the world - banking situation? it is a big added problem is already the world is - banking situation? it is a big added problem is already the world is not | problem is already the world is not enough commercial bank lending. that has been a problem that the qe period has been a problem that the oe period were in the us and in europe the money was the allowing to long term investments to bond markets. you know how the bond markets, the big countries were buying back the stock and that left smaller businesses without the commerc
data is rolling in today. the economy grew in the fourth quarter of 2022, meaning still no recession and weekly jobless claims ticked up slightly. that jobs number is one that the fed is looking at closely as it works to bring down inflation. we re also keeping a close eye on the markets, which are currently flat as investors digest all this data and monitor the banking situation. cnn s matt eagan is here to break it all down, matt first on that jobs data. if you re the fed are today s figures frustrating because they show just how resilient the labor market is, probably alex, but they can t really say that out loud. i mean, the fed is squarely focused on cooling off inflation , and a lot of economists think that they need to get a weaker jobs market to get inflation under control. but you know the jobs market is just not cooperating. it remains strong, historically strong initial jobless claims coming in at 198,000 that is up, but only