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government reported a second straight quarter of negative economic growth. so this complicated picture is why president biden is pushing back against talk of a recession. >> with both senator schumer and manchin. that's consistent with the transition to a stable steady growth and lower inflation, but if you look at our job market consumer spending, business investment, we see signs of economic progress in the second quarter as well. >> joining us now to take a closer look at this, cnbc senior economics reporter steve liesman and ben white, politico chief economic correspondent and ho...

reduction act, would be the largest investment in energy and climate programs in u.s. history. for the first time it would give medicare the power to negotiate prescription drug prices, cap medicare out-of-pocket costs at $2,000, and extend expiring health care subsidies for three years. but before any of that happens, it must get approval from the senate parliamentarian to proceed with a filibuster-proof reconciliation process, allowing democrats to pass the bill with just 50 votes. cnn's jessica dean is on capitol hill for us. jessica, where does the bill stand right now? >> rep...

shrinking stocks unfortunately in the pensions. peter doocy on the shrinking poll numbers for a president that just found a new villain for all of this and his name is not putin. welcome. i'm neil cavuto, this is "your world." a very turbulent world. when it comes to the markets, a lot redder world. how much? to jackie deangelis with more. >> good afternoon. another rough day for the markets, neil. not for the feint of heart. the markets digesting the rate hike that we saw yesterday and jerome powell's comments and deciding more hikes and slower growth means recession is coming if we...

all we know is tomorrow powell will spring to his slay and his team a whistle. we don't know where he will fly. we probably don't know what a down of a thistle is, but we know what a down stock market is. so we want to hear something as st. jerome drives out of sight. it's that something that is giving us all of this fright. in the meantime, this night before we've got you covered for what could be in store, with legendary billionaire investoring ken fisher on why it's not action bad as you think and to powerful south dakota republicans who president biden said, you know, they don't ...

republican congresswoman kathy mcmorris rodgers on gas prices hitting $5 a gallon for the first time in the history, and bill barr on something he told january 6th committee and with our very own lucas tomlinson at white house on a president fending off attacks, it's that '70 # inflation show all over again, and he is the not too happy star. welcome, everybody, i'm neil cavuto. happy weekend to you. let's go first to my buddy lucas on how the administration is handling all this bad news on prices. >> reporter: well, neil, the labor department issuing a brutal report yesterday saying ...