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call inflation reduction act will not only lower cost for consumers but will not raise taxes on the middle class. republicans argue it will not help you alleviate inflation and it will take money out of people's pockets and hurt americans across a number of key sectors. chief congressional correspondent chad pergram is live on capitol hill and he has the latest for us. >> good evening, the senate waited all day but the past hour the senate got a text, the bill is 755 pages in length, democrat plans to pass the bill overnight. >> this is one of the most comprehensive impactful bills c...

Shock so a lot of turbulence right now and it's hard to sort out or name what it is we are in. we are in a mess. jon: a mess rather than recession that doesn't figure in the economic textbook very well. the fed has been trying to fight inflation raising interest rates and they will be in september again so what are you expecting them to do? >> it's likely they will raise interest rates again and you have been seeing turbulence in the financial market because of what's going on with the fed. the market tumbled earlier in the year and when the fed raises interest rates, it slows the economy that...