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Are all adding to the cost of living. but in the plus column, the jobs market is strong. recent monthly reports showed a massive pick—up injob creation and also what people in those jobs are getting paid. presidentjoe biden, he was quick to seize on those numbers. today we received another outstanding jobs report. 528,000 jobs were added just last month to this country's employment. 528,000 jobs. we have now nearly doubled what we, almost ten millionjobs, almost ten millionjobs since i took office. that's the fastest job growth in history. but is a heated job market enough to keep american s...

Evening. especially admitted this very positive news, right? and all in, this is pretty positive news. can you break down with this means for the economic recovery? is this a sign that inflation will cool down and soon? >> well, there's no question july was a very good month in terms of we had 528,000 jobs. and we actually had zero inflation just for that month. and we saw, as you obviously as we just said, we saw gas prices down over $1 from 50 2 to 3 99. the most common gas price at a gas station in the country right now is actually 3:59. we saw other things like you know appliances down, we...

Every time we shop for essentials prices are still painfully high. i want to bring in gene spurling, senior adviser to president biden and coordinator for the white house american rescue plan. gene, good to see you this evening especially amid some of this very positive news, right? >> thanks. >> all in, this is pretty positive news. can you break down what this means for the economic recovery? is this a sign inflation will cool down and soon? >> well, there's no question july was a very good month in terms of we had 528,000 jobs and we actually had zero inflation just for that month and we sa...

But there will probably be something. it will be enough for him to cover himself on the issue. but it won't be a blockbuster. >> they point out that they have already for given student loan debt billions of it actually for students who had debt from some of these places that defrauded them quite frankly. so they have been trying to work around those kinds of edge. but you think that he could actually give just a blanket some kind of a student loan forgiveness? >> yes, but again, not $50,000. i mean, that is a key demographic. young people who are kind of luke warm about biden i think could bec...

Jacobson. >> it has whip sawed them in a way. you had a surprisingly strong jobs report, 528,000 new jobs which was way more than expected. >> yeah. >> and that kind of belied notions that the u.s. is slipping into a recession. but then it also spooked people into thinking that now the fed sees so much strength in the economy that it will definitely at its next meeting in accepts going to raise rates by an expected three quarters of a percentage point. which is taken poorly by stock traders. they like to see the fed easing off the gas in terms of tightening. and then yesterday you had pretty b...