Credit across the economy whether it s to businesses large and small and/or u.s. households. a big problem here, neil. neil: and are you worried about the banking situation? it seems like whack-a-mole, and a bank arrives and pac west the latest and what do you make of it? the sense that we ve never seen bank stocks fall so much without the economy eventually tripping up. even when the banks falling in the late 90 s, and before the 08 crash. the bank stocks fell way before, it s the banks and subprime lending never be the regular markets, that s solid and the whole thing went to a cascade. and to be a little more positive about it, we haven t really seemed to fall what you see in a recession, but the rates have gone so high, but we haven t seen a rate climb. neil: and breaking news at the border and elsewhere, danielle
On that. actually in the last nine months because of the work we re doing inflation has gone down 45%. that s moving in the right direction. still higher than wage growth though. no question about it. it s going in the right direction. jobs up, unemployment down, inflation has gone down, which means the economy is stable and strong. it doesn t mean you don t have challenges, which is why the president has been investing in america. when you re investing in building roads and bridges and airports and ports, you re building jobs that really matter. 12.1 million jobs, 800,000 manufacturing jobs that don t require a college degree, it means that we re in a good pox to deal with the challenges coming our way. it s how you deal with them and how fast you solve them. what about the banking sector? what is this administration doing to ensure more banks don t fail. there s no question that the secretary of treasury in our administration has been working with and analyzing and cooperating with the fed and all the other folks on this banking situation, all of the major folks out there that know a lot
The bad news is that inflation, underlying inflation at least, when you subtract out food and energy, isn t really falling, so we haven t seen very much, if any, progress in underlying inflation, yet. that s whatjerome powell said, that inflation is still too high. this is the 10th hike in m months, and the fed did seem to signal that it might pause increases. would that be the right step? i have no idea,j powell has no idea, and the reason is that we need to see what s going to happen in the economy. you know, a year ago, it was clear that interest rates needed to be a lot higher, and so they were on a path to go up, no matter what the data said, they would still be on that upward path. right now, we don t know how tight credit will be as a result of the banking situation, we don t know the trajectory for unemployment, we don t know what s going to happen to inflation, and so the fed is, appropriately, ithink, saying, we are going to collect more information, make that decision and we re done
Falling, so we haven t seen very much of any progress in underlying inflation yet. that s whatjerome powell said, that inflation is still too high. this is the 10th hike in 14 months and the fed did to signal that it might cause increases. would that be the right step? i increases. would that be the right step? right step? i have no idea,j powell has right step? i have no idea,j powell has no right step? i have no idea,j powell has no idea, - right step? i have no idea,j powell has no idea, and - right step? i have no idea,j powell has no idea, and the j powell has no idea, and the reason is that we need to see what s going to happen in the economy. you know, a year ago, it was clear that interest rates needed to be a lot higher, and so they were on a path to go up, no matter what the dataset, they will still be on that upward path. right now, we don t know how tight credit will be as a result of the banking situation, we don t know the trajectory for unemployment, we don t know what s good happen to inflation, and so the fed is appropriately i think saying we are going to collect more information, make that decision and we re done with telling you in advance what we are going to do, because we ourselves don t know in advance will be going to do. ~ . . know in advance will be going todo. ., ., ., . to do. what are the economic indicators to do. what are the economic indicators you to do. what are the economic indicators you are to do. what are the economic indicators you are looking - to do. what are the economic indicators you are looking at i indicators you are looking at to know what should be done?
Very openly worried about in the past, and he said he doesn t think it necessarily raises the risk of a recession, and he does hope that the fact that jpmorgan is stepping in here and buying most of first republic that that s going to stabilize the situation. boris, let s hope it does because the longer this banking crisis goes on, the more damage it s going to do to the real economy. absolutely, dimon saying the banking situation has been stabilized, but the economy not yet completely out of the woods. matt egan, thank you so much for that report. boris, still ahead, e. jean carroll back on the stand today in the civil defamation case. the judge denying the former president s call for a mistrial. we are live at the courthouse. plus, tens of thousands of people risking their lives and traveling hundreds of miles to get out of sudan. evacuees tell us the journey to safety is just the beginning. we re going to show you their stories. and later, the ocean blob,
Always the most risky investments that suffer ie, in the developing nations where you are trying to the world bank is, of course, trying to help. i m just wondering, how concerned are you about the fallout of this current banking situation? it is a big added problem so already, the world does not have enough commercial bank lending. that has been a problem that the qe period, where in the us and in europe, the money was allowing long term investments to bond markets. you know how the bond markets, the big countries were buying back the stock and that left smaller businesses without the commercial bank loans, the working capital financing. how do you finance accounts recevable and inventory when banks don t have that much desire to talk with smaller businesses? so that was a problem and now, with this, it adds to that problem, and includes, as you say, the developing countries. it s going to be very hard for them to get the short term lending that is vital for people trying to get up
Trying to, the world bank is of course trying to help. i m just wondering, how concerned are you about the fallout of this current banking situation? it is about the fallout of this current banking situation? about the fallout of this current banking situation? it is a big added roblem is banking situation? it is a big added problem is already banking situation? it is a big added problem is already the banking situation? it is a big added problem is already the world - banking situation? it is a big added problem is already the world is - banking situation? it is a big added problem is already the world is not | problem is already the world is not enough commercial bank lending. that has been a problem that the qe period has been a problem that the oe period were in the us and in europe the money was the allowing to long term investments to bond markets. you know how the bond markets, the big countries were buying back the stock and that left smaller businesses without the commercial bank loans, the working capitalfinancing. how do commercial bank loans, the working capital financing. how do finance and inventory when banks don t have that much desire to talk with smaller businesses? so that was a problem and now, with this, it adds to that problem, and includes, as you say, the developing countries. is going to be very hard for them to get the short term lending that is
Data is rolling in today. the economy grew in the fourth quarter of 2022, meaning still no recession and weekly jobless claims ticked up slightly. that jobs number is one that the fed is looking at closely as it works to bring down inflation. we re also keeping a close eye on the markets, which are currently flat as investors digest all this data and monitor the banking situation. cnn s matt eagan is here to break it all down, matt first on that jobs data. if you re the fed are today s figures frustrating because they show just how resilient the labor market is, probably alex, but they can t really say that out loud. i mean, the fed is squarely focused on cooling off inflation , and a lot of economists think that they need to get a weaker jobs market to get inflation under control. but you know the jobs market is just not cooperating. it remains strong, historically strong initial jobless claims coming in at 198,000 that is up, but only
No specific data point for that and it may have been triggers looking to avoid bank going into the long weekend. what looking to avoid bank going into the long weekend. what is our into the long weekend. what is your analysis into the long weekend. what is your analysis of into the long weekend. what is your analysis of the into the long weekend. what is your analysis of the banking . your analysis of the banking situation in the past few hours with the boss of the anz bank in australia saying the latest turmoil and the global financial markets and the banking system does have the potential to trigger a financial crisis. what do you make of his comments? i financial crisis. what do you make of his comments? i can see where he is make of his comments? i can see where he is coming make of his comments? i can see where he is coming from - make of his comments? i can see where he is coming from and - where he is coming from and clearly nobody wanted to be the person sitting in a darkened cinema and shouting fire because it tends to start the panic that i can see where he is coming from. king of the united states, loans and total debt has grown from 52 up to $94 trillion since the global financial crisis though that amount of liabilities is probably going to look at how far central banks can take interest rates for example looking at us. for a very long period of low interest rates, accidents of some kind were inevitable once they rose, given increasing debt. what we can say is given 2018 is fresh
Message it, republicans message this is get to the core and explain to the american people, it will matter. finances matter to people. people are looking at this banking situation right now and are weary of it. they heard the term woke and have to be able to understand and put the pieces together. we hope some democrats will join in the cause, everybody that cares about putting the american people and middle clas first. the forgotten americans, woke agenda should not get in the way of this and this administration is doing that, get the message out and explain to the american people. that is on republicans to do and i expect they will do just that. ashley: tomi lahren, thank you. a fox news alert, law enforcement say they do not