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Do not feel it at all. >> look joe biden helped pass the democratic congress, pass the chips act to not only start manufacturing micro chips in america again, to free up the supply chain issues but also to reimport jobs and bring jobs back home to america where we can make things here again and i think as we see more and more of those effects taken place, we'll see more and more of the credit going to the people who did it. the people working to bring jobs and manufacturing back to our country. >> i don't know, mark, i would go back to what ashley was saying. when you look at 7.1% inflation, i...

They're on the defensive, and now more concern that the economy will be a little worse, worse than a lot of people thought. >> and how does this play into what the fed could or could not do and how should regular people, maybe don't get to watch cnbc as much as they like to, how should they be thinking about this moment? >> the federal reserve raised interest rates by a seventh time this year and albeit a smaller amount than the last four consecutive meetings but the fed is walking the tight rope between slowing the economy too much and not slowing it enough, to bob's point. and the story on i...

Consumer prices up 7.1% year over year, the fed is targ erting 2% inflation, so fed chair jerome powell yesterday struck a pretty hawkish tone. he needs to see more proof that inflation is really cooling off. so that he is raising these concerns that the fed is going to have to keep raising rates and going to have to keep them high, and at some point that could do some -- more damage to the economy. >> all right. just a few minutes more until that closing bell. we'll see where the market goes. matt egan, thank you. >> thank you. >> thanks, matt. up next, a capitol police sergeant is opening ...

Anyone. >> kate rooney joins me now. kate, bankman-fried as you noted was arrested in the bahamas. what happens next? >> reporter: so, lester, the united states has asked for extradition to new york but bankman-fried's legal team plans to fight the request. his application for bail has been denied, and he'll remain in a bahamian jail. his next court appearance for arguments over extradition is scheduled for february 8th. lester. >> all right, kate rooney, thank you for that. tonight promising signs that inflation is cooling. prices up just slightly in november from the month before and up 7....

Appears to be moderating up 7.1 percent from last year still down from 7.7 percent last month, republicans say costs remain at record highs. >> well, days until christmas an joe biden is the grinch who stole christmas. the new inflation numbers came out topped and today in america we are still at a 40 year high. >> where americans are still feeling the pinch of higher prices is at the grocery store. meaning the cost of holiday gatherings will be considerably more expensive this year. you may have seen that in your thanksgiving meal. the price of eggs up over 49 percent, butter costing 27 perce...