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Because you're not telling the truth. shannon: on the issue of consequences, on this issue of default which we're told is coming, former president trump who you've endorsed, had this to say on wednesday night -- >> i say to the republicans out there, congressmen, senators, if they don't give you massive cuts, you're going to have to do a default. shannon: he says it would erase millions of jobs, hit retirement accounts and increase borrowing costs, it's not an option, says the current president. which president do you agree with? >> i will tell you right now, president trump is a master negoti...

Because you're not telling the truth. shannon: on the issue of consequences, on this issue of default which we're told is coming, former president trump who you've endorsed, had this to say on wednesday night -- >> i say to the republicans out there, congressmen, senators, if they don't give you massive cuts, you're going to have to do a default. shannon: he says it would erase millions of jobs, hit retirement accounts and increase borrowing costs, it's not an option, says the current president. which president do you agree with? >> i will tell you right now, president trump is a master negoti...

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Measure -- is taking hold, according to new data released friday by the commerce department. it rose 4.2% for the 12 months ending in may. that is what the federal reserve expected to meet on this week to look at the decisions for 2023. ryan is a senior -- at claremont graduate university enjoins me now from los angeles. thank you so much for being here with us. listen, i want to start with the banking. i mean, you have been warning about more cards potentially falling for a while now. how worrying is this? should the biden administration be doing more to step in here quick >> yes, you and i h...

Chief correspondent christine romance with more. >> victor, amara, that's right, the so-called pce, it rose, 0.1% from february to march, and 4.2% on an annual basis. that's the smallest annual gain in almost two years. inflation is still higher than fed's preferred 2% target, but clearly it's retreating from the worst inflation of last summer. it's more evidence that nine rate hikes from the fed are working. the fed has hiked up the target rate from 0% to 5%, to take the froth out of a roaring economy. indeed, the economy appears to be downshifting. at the start of the year, gdp grew just 1.1...