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powell tries to force down inflation. let s get right to it. joining me now is full disclosure host, robin, have we gotten the number yet? lass it come out? or are we still waiting? still waiting for it to come out. we re waiting, all right. another 75. 75 basis points. what is that going to mean? i got it tell you, i got a song in my heart, special thanks to the bee gees. because we re dealing with the cpi that s still high and the fed will have to hike which we just won t like la la, la, la. and did i just destroy my career? i loved every moment of it. oh, the title is called how deep is this inflation? i really want to know. and that s the question on everybody s mind. are we going to go to 5%? 6, 7%? how deep is the buying power and consumer demand in this economy that we have to snuff out and i don t think mr. powell knows. we have it official. three quarters of a point. 75 basis points. i was talking to steve retner today about when the bottom is a ....
They may take rates to 5% next year. the boogeyman of thick of the holiday shopping season. we just saw brian talking about the incredible hospitality, bar and restaurant numbers. what happens when the holidays are behind us? i would see that hangover. to a certain extent, looking at the jobs and wages numbers is like driving by looking in the rearview mirror, you re starting to see a cooling. we felt it in the journalism community in the last 48 hours. brian talked about tech layoffs. there are a lot of companies trimming the grass, realizing that capital costs a lot more, demand is falling, advertising-intensive industries, what is the cry uncle point? if you take rates to 5%, are you going to crash the economy or can we trade this inflation for higher unemployment and have it not too hot and not too cold. if companies are trimming the ....
Consumer demand in this economy that we have to snuff out and i don t think mr. powell knows. we have it official. three quarters of a point. 75 basis points. i was talking to steve retner today about when the bottom is and when we will stop seeing the fed raise rates and he says it s got to get to a point where the rates are higher than inflation and right now there is a real imbalance. talk to me about, if you re going to make predictions, it s so hard to make predictions on the economy, but if you re going to do so, when are we going to stop seeing these hikes? i got to say the cry uncle point, very basically, for people, is when you can get something at inflation or north of inflation on a treasury or risk free asset, you saw that with the government savings bond, the savings bond which was selling out and the website was crashing a few days ago. people will put their money in something that protects them from inflation or gives them positive yield and until the fed gets there, ....