Page 22 - Matt Eagan News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Administration. all of it triggering what analysts tell cnn is a, quote, freakout moment in the markets. matt eagan is here to explain why. >> you know, in many ways we already have a crisis right now in the united states. an inflation crisis. the soaring cost of living is angering voters. it's unnerving investors, and it's even bothering normally unflopable ceos. there was a new survey that showed that 60 % of ceos expect economic conditions will worsen. 68% expect an eventual recession. investors are getting increasingly nervous. the s&p sis getting uncomfortly close to a bear market which s...

So really, it would just negate the increases of the last week, and there are big questions because of how it's taxed about whether or not that decrease will be passed along to consumers at the pump. >> okay. thank you so much. pete, matt, thank you. let's bring in diane swok, the chief economist at grant thorton. he's also an adviser to the federal reserve and the congressional budget office. thank you for being here. do you think the president's plan will work? >> well, it's not going to take off the real problem, the steam off of inflation in the way that we really need to do it. that's o...

That you might have much worse. so that's the concern. don't think of this as a totally harmless drug. >> that is such important information. news you can use. thank you, dr. gupta. good to see you. one of the biggest investment banks on the planet says a recession is coming and it will be, quote, major. as we speak you can see the markets are firmly in the red. down more than 600 points right now. matt eagan is with us to talk about what this means. this is coming from deutsche bark, the recession warning. they were originally saying mild. now they're saying worse. >> this is about high inf...

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This was on march 8th, west texas crude trading at $123 a barrel. now it's $95 a barrel. talking about almost a $30 drop in oil prices. gas not so much. in fact, not even close. here, march 8th, $4.17 a gallon of regular unloaded. now it's $4.31. that actually shows it's up 14 cents a gallon. cnn's matt eagan has been tracking all this like a hawk. >> this is not an entirely new phenomenon. this has actually been going on for decades. here is what's actually happening right now. we've seen 23% decloin in oil prices in the last eight days. gas prices are actually up by 3%. now, it is normal to ...