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this is "gps", the global public square. welcome to all of you in the its and around the world. i'm fareed zakaria coming to you from new york. today the on the program, we'll bring you the latest on the suspected chinese spy balloon. then, we'll move to the economy. but for a change, it might not be bad news. >> we have some very good news about the american economy. >> the imf global outlook is less gloomy than it was a few months ago. and then the fed said it wasn't ready to declare victory on inflation, but it is cooling. i will ask larry summers if he agrees. also, crime...

this is "gps", the global public square. welcome to all of you around the world. i'm fareed zakaria coming to you from new york. today on the program, we'll bring you the latest on the suspected chinese spy balloon. then, we'll move to the economy. but for a change, it might not be bad news. >> we have some very good news about the american economy. >> the imf global outlook is less gloomy than it was a few months ago. and then the fed said it wasn't ready to declare victory on inflation, but it is cooling. i will ask larry summers if he agrees. also, crimea, many powerful pe...

Blow the whole thing up. and it is a larger percentage than i think you dealt with during the tea party days when they also threatened to default. are you worried that there is -- even if it is a 15%, 10% chance that these republicans could hold up the process and we do have a real crisis? >> i am worried, but i'm more worried about the consequences of kowtowing to terrorists or setting precedents for completely out of scope executive actions. you know, are 15 people can't stop the debt limit unless 215 other, 210 other republicans are committed to vote with them. it only takes a few responsib...

>> but you do have this problem where there is a bunch of people in the republican party who do seem like they're willing to blow the whole thing up. and it is a larger percentage than i think you dealt with during the tea party days when they also threatened to default. are you worried that there is -- even if it is a 15%, 10% chance that these republicans could hold up the process and we do have a real crisis? >> i am worried, but i'm more worried about the consequences of kowtowing to terrorists or setting precedents for completely out of scope executive actions. you know, 15 people can't s...