Page 45 - Inflation Problem News Today

Exchequer of the united kingdom. thank you for coming to the program. >> great to be with you. >> all of the viewers know the inflation problem in the united states all too well. theyre all feeling it. what youre not familiar with, is how this is happening around the world. u.k. inflation jumped 10% in july, hitting a new 40-year high. and goldman sachs, as you see there, reports that the u.k. could see 22% inflation if energy prices continue to go up. you call this a cost of living crisis. the ...

What is inflation problem that has been imported from abroad based on geopolitical factors that are largely out of their control are mainly the war in ukraine, with a demand—side tool, namely raising interest rates to control the amount of savings, borrowing and mortgages people in the economy take out. this is the main tool at their disposal, and arguably, it will take some of the heat out of the economy. it will bring price levels down to some extent, but at what cost? is it going to inadver...

To do. >> reporter: well, i dont think anybody knows for certain when the inflation problem is going to be over. i think what the white house will settle for at the moment is a directional change in the right direction and that is happening right now. we do see inflation slowing down, its not conclusive, it doesnt mean the problem is over, as jerome powell indicated, but having gas prices go down, having overall inflation go down, even if for a temporary period is welcome news to the administrat...

Too things. he thinks that he will come out ahead as democrats look to midterm trying to hold the congress. but he is also making a larger point about many things in the society and the tax code that may not be fasir. so economists say it rewards too many people at too high of an income level. and biden said, well, you may not like it, but there is a whole lot in our tax code including breaks for wealthy people and corporations that i dont like either, so come at me with the fairness argument. >...

And then the ncaa says canceling $10,000 is like pouring a a bucket of ice water on a forest fire and that biden must recognize and regard student debt as a racial issue. is that valid criticism? >> sure, and that is why it is such a difficult problem. tremendous cross pressures on the white house here, youve got strong constituents saying that we need more help and then you have the larger economic concerns as you said. the inflation ground has moved under the feet of the administration since t...

Naacp will not be happy either. they said president bidens student debt cannot become a policy that has left black people, especially black women behind. this is not how you treat black voters who turned out in record numbers and provided 90% of their vote to, once again, save democracy in 2020. now the nations federal student loan debt now tops, a staggering number, $1.6 trillion. thats a big number. and this potential policy experts believe will actually exacerbate the already building inflati...

Campaign promise he would fulfill. he said its not fair for young people to have all this debt in the world. it is a campaign promise -- >> and he has wrestled with it. >> he has been targeted so far. targeting people who were defrauded from these horrible for-profit situations, veterans who were defrauded. he has already canceled more student debt than anybody else ever has. so i think youre going to hear $10,000 today, and i think that it will make a difference for a lot of people. i mean, ive...

Actually is pulling the economy in the wrong direction.— the wrong direction. it probably kee -s the wrong direction. it probably keeps inflation _ the wrong direction. it probably keeps inflation risks _ the wrong direction. it probably keeps inflation risks higher - the wrong direction. it probably| keeps inflation risks higher than the wrong direction. it probably - keeps inflation risks higher than we would like them to be even after this inflation shock has passed for the update talk abou...

Until saturday to reserve electricity — much of it coming from coal because the heat wave and drought have significantly reduced hydro—power output. lets speak to david dollar, a senior fellow at the brookings institutions china center. thanks so much forjoining us here on the context. looking at china, its going against the grain not raising rates, while other countries are doing that. why is it? tt’s are doing that. why is it? its auoin are doing that. why is it? its going the _ are doin...

Point. senator republicans oppose a $35 cap on insulin for private insurance. these are all sort of easy talking and attack points for them when they go back to their districts. >> and so what is the republican answer? is it just -- well, joe bidens president and inflations bad and so dont look over here? >> i mean, its a little bit of joe bidens president and inflations bad. its a little bit of this is really not going to help at all with the inflation problem and government spending. i think t...