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Economic growth. they see just a half a point of growth next year by way of comparison. normally the economy should grow around 2% would be what s thought to be potential growth in the economy. the other thing that was gloomier is the fed upped its outlook for how much it will raise interest rates. you can see they started off back in september, thought they d raise rates to 4.6% next year. now they re up to 5.13%. so that s a big jump to where they re going to go and how much more they have to raise rates. to 4.38% yesterday. they still have a lot of work to do, so whatever you think is going on right now with interest rates in the economy, your credit card, your car loans or mortgage, it could get higher from here. cnbc s steve liesman starting us off this hour. thanks so much. mika? to the latest on the possibility of a government shutdown. the house of representatives has passed a short-term spending ....
We have to work very hard to put that in the past. we have to work very hard to put that in the past. all i would add is we have seen that in the past. all i would add is we have seen that that in the past. all i would add is we have seen that back that in the past. all i would add is we have seen that back to - that in the past. all i would add is we have seen that back to where l we have seen that back to where rates we have seen that back to where rates were we have seen that back to where rates were on the 22nd of september, that was rates were on the 22nd of september, that was the day of the last monetary policy meeting, the day before monetary policy meeting, the day before the government s mini budget, see we before the government s mini budget, see we have before the government s mini budget, see we have seen, for example, the two-year see we have seen, for example, the two year swap rate, which is what two-year two year swap rate, which is what two year fix ....
Course the war s a factor. no question about it. but that hasn t worked politically. i don t think most people are buying it. well, look, i can t speak for how american consumers feel about where it came from, but it is a fact that putin s war on ukraine has, in fact, affected supply chains in many different sectors including food. and there s no question that the war has had a factor in causing the spikes in oil and in refined fuel. howard: well, in fairness, there s been a decline now in gas prices for 40 days that s right. howard: average now $4.338. that 4.38. the president of the united states has covid. everyone is glad his symptom are mild, fully vaccinated, wish him a speedy recovery. does this underline the president s vaccine effort because so many people who are fully vaxxed and boosted are getting this oh, quite the contrary. he has had very mild symptoms, ....
After topping more than $5 a gallon, gas prices have been falling for more than a month. today the national average is down to $4.38 a gallon. that s a much-needed good news for the biden administration, and it has not been shy about sharing it. we have some really good news. gas prices are coming down. what we have seen in the last 34 days is that gas prices have gone down on average by 50 cents a gallon. just yesterday we witnessed the largest single-day klein in g decline since 2008. with me now white house adviser jared bernstein. hi, jared. gas prices still average more ....
They say it will be just under pre-pandemic levels by about 7%, so if you have so many drivers still hitting the road, china coming out of lockdowns like john mentioned, demand for oil and gas still extremely high, and that, anita, could drive up prices even more. anita: you have to figure gas prices into your vacation budget now, that s a big part of it, right, grady? all right. exactly, unfortunately that s what it has come to. anita: it has. thank you so much for the live report. john: dagen mcdowell, fox business anchor, a few thoughts on this. put what people are paying back up on the screen. 4.52 today, yesterday 4.38. a month ago, 4.08. a year ago, 3.04. the idea of blaming putin for all of this, looks like it s falling on deaf ears. increasingly people are blaming ....