Mischaracterized Inflation News Today

"america reports" on this friday. white house getting good news on the jobs market but will a massive spending plan send the economy into another tailspin, making an already bad inflation problem even worse? hello, everyone. i am sandra smith in new york. >> jon: i am jon scott info john roberts. the labor department says the u.s. added 528,000 jobs last month. the on employment rate also falling slightly to 3.5%. >> both numbers beating expectations. wages are still largely out of ste...

Is this a good labor market when you still have the participation rate not returning to pre-pandemic levels and that is still struggling while we noted theres more americans today than any other moment in time working two full-time jobs just to pay for inflation. how did you see this report today? >> sandra, you made a very important point. the most thing avigan thing about the report is that once again it shows diminished labor, continued very high demand for labor. if you look at the index of ...

"america reports" on this friday. white house getting good news on the jobs market but will a massive spending plan send the economy into another tailspin, making an already bad inflation problem even worse? hello, everyone. i am sandra smith in new york. >> jon: i am jon scott info john roberts. the labor department says the u.s. added 528,000 jobs last month. the on employment rate also falling slightly to 3.5%. >> both numbers beating expectations. wages are still largely out of step with the...

>> its a fair point. you can cite the economists in your letter. we have well over 100 economists saying exactly the opposite, many of whom are nobel laureates and many of whom have the same credentials you have there. i say that we put the dueling economists aside and look at whats in this legislation. lets be very concrete about this. does it lower prescription drug costs? yes. do americans now pay two to three times for the same fairy pills and prescription drugs that people in other countrie...

We have seen estimates that take inflation down by i think if you look at mark zandys work, taking it down by a third of a point. >> sandra: thats a lot of spending to bring down inflation in mind .1% by a third of a point. >> i agree with that. three and a billion. maybe 100 billion over ten years. i think there is 90 billion a month the federal reserve is allowing to roll off their balance sheet so its truly a small, small fraction. just take their argument for what its worth. its going to be ...

Spending. massive bill to only have that impact on inflation when the actual act is named for that. >> yeah. its hard to imagine that this bill will really do anything on inflation. its a modest three and a billion dollar deficit reduction over ten years, its backloaded. $.1 trillion economy, youre not going to move it very much. here is the really important point. it matters what congress does all the time, not just in one bill. while they have been talking about the inflation reduction act, th...

>> sandra: lets bring in darrin porcher, retired nypd lieutenant. great to have you here, thanks for joining us. its been a while since weve seen you in studio. whats happening now with texas sending these migrants to democratic led cities? so many politicians around the country have ignored whats happening at our southern border. what you think? >> i am a former resident of texas. when we look at how much money texas is spending on these migrants coming in to that state undocumented, its a prob...

More than 200 economists warn congressional leaders that the u.s. is in a dangerous crossroads. they argue the bill increases inflation. senate majority leader chuck schumer does not mince words. >> considering how high -- >> they are wrong. i dont know who that list was for the overwhelming majority of those who have looked at this. the public and economist. they have said it will do reduce inflation. it will. >> after days of talks, kyrsten sinema signal she will move forward on the tax and sp...

This is uncomfortably hot. economists are saying this is the victory lap to the white house can take and we all want to see a robust jobs market. at some point you have to look at sky high inflation still at a four decade high and see if you combine that with a super hot jobs market, theres going to be no let up in demand, no let up in inflation. do you worry about that? >> well, as someone who right now is personally uncomfortable hot -- under these lights. i can tell you that from the perspect...

Inflation. its eating up their earnings. then you look overseas and theres big questions over whos running the foreign policy in the country when youve got mixed messaging coming out of the white house and congress when democrats are in charge of congress and the white house. >> jon: china is getting exceptionally belligerent right now with regard to taiwan and the situation could go from bad to worse. >> sandra: indeed. we are watching that we will continue to watch for the briefing and go to i...