tv Washington Journal Karen Petrou CSPAN August 1, 2023 10:55am-11:01am EDT
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my family, my dog and my wife. cz, thank you state nhf -- can stay in touch -- a and stay in touch. seac colon-lopez: thank you. >> jeff merkley discusses the russia ukraine war, climate change and other topics with the washington post. watch live at 11 a.m. easter on c-span, c-span now, our free mobile video app and online at c-span.org. >> c-span is your unfiltered view of government. we are funded by these television companies and more including wow. >> the world has changed, today, a fast and reliable internet connection is something no one can live without so we are
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therefore customers with speed, reliability, value and choice stop it all starts with great -- choice. it all starts with great minute -- internet. >> getting you a front row seat to democracy. host: she is cofounder of the financial consulting firm, better financial analytics -- federal financial analytics and she penned a piece in the hill newspaper. the headlines is biting --bid enomics is an insult -- define bidenomics. >> that was not my headline. it is a mistake.
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it is the economy the president wants to portray and one in which the middle-class is doing better. the country is comfortable and i think we do have a better economy than we feared we might near covid but for most americans, the majority of americans, it is far from comfortable. for most people, it is frightening. host: one person in today's washington post talks about bidenomics. he cites the good economic news president biden has been tilting. -- tilting --touting. that is a dramatic decline from the peak inflation rate of 9.1% last year. unemployment has been at avenue near 50 year-. -- has been added near 50 year--- unemployment has been at
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a mere 50 year --a near 50 year low. guest: one of the reasons for that is despite the aggregate numbers and those war all great numbers, -- and those were all great numbers, this is an unequal economy and averages such as unemployment rate, don't represent the way most people live. two thirds of americans skip purchases they want because of inflation. 50 8% of americans are living paycheck to paycheck and even with inflation -- 58% of americans are living paycheck to paycheck and even with inflation slowing, and cost -- it costs $
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122 dollars today what cost 100 dollars in 2019. people are very worried. host: is the perception of the economy a lagging indicator that with these good numbers, the confidence in the economy will be going up? is that how you read the economic numbers? guest: these numbers don't represent americans as a whole. they are helpful to understanding the economy. they are not great guides to politics and that is my concern, not that the economy is going to slide into a recession although we have significant recession risk. we have not gotten out of harms way --harm's way. what is a lagging indicator is
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monetary policy. we haven't seen the full effect of the fed tightening and we are not far away from the potential of significant slowdown if not recession. host: -- was more concern about a looming or almost certain recession last year, but it seems to be cooling. guest: because of the numbers, but we have warnings. the monetary policy takes a wild to work. there is concern the fed's policy, they raised rates again last week, have yet to cool off the economy because it takes time to happen. when it does, when the high rates do what they are intended, the economy will slow. and we are seeing a lot of struggle in the data. yet, there is no room for error here. and you have that many people living paycheck-to-paycheck.
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