robot and automation, leverage to the electrification of everything. abb. carleton: great ideas, to read more check out this week's addition of barron.com and follow us on twitter, barron online, see you next week on "barron's roundtable". us again next week. >> welcome to the program that analyzes the week that eyes and helps position you for the week ahead, i'm jacky information president biden is stepping up attacks on former president trump and republicans in a dramatic it fiery red primetime speech and calling them a threat to american democracy and what happened to his promises of the unity and i am asking north dakota senator kevin kramer plus

the argus job reports terms and 50000 jobs last month and through the cycle president john is here with whitney's the economy and with the federal reserve will do now and goldman sachs predicting the housing market downturn could be even worse next year and realtor .com, is daniel will tell us with the buyers and sellers can expect going into the fall but first, president biden slam for the dramatic print times beach like the u.s. marines and intense red lighting and builds a battle for the soul of the nation. biden: for a long time, solar cells in american democracy is guaranteed but it is not, we have to defend it, we the people will not let anyone or anything tear us apart. maria: he dishes message of unity to incidents happen president trump and mega republicans. maria.biden: donald trump the ma

republicans were there printed present stream is gone the mega forces are determined it to take this country backwards mega failures and mega republicans be stream mega ideology, mega republicans have made their choice and mega republicans and mega republicans mega republicans look at american seek carnage and darkness and they believe that for them to succeed, everybody else has to fail. maria: joining me for reaction senate budget committee member, kevin kramer, it's great to have you with us to get a reaction to destiny reports cover today, dark divide and biden said trump supporters are a threat to democracy had he said it over and over there and attacking republicans in general and using this term mega republicans in your reaction to us ice and rest. kevin: hooversville jacky thank you for having me and my reaction is is a soccer player, i suspect that this is a little more of a comfort zone joe biden being a great and loud and

obnoxious but it was very and presidential to say the least, and is appointing in many respects, you've already pointed the fact that he was going to be that great unifier and of course he abandoned that not just on thursday night but he abandoned that the day after he was a nokia rated but i just thought a very unhealthy obsession with his predecessor and is a sign of insecurity differently some desperation i don't know why the leader of the free world, the commander in chief, and the president of the united states will allow his predecessor to spend so much time inside of his head and i don't see how it elevates his agenda at all and so to me i think that it was a peculiar speech is a campy campaign speech disguises some sort of military exercise. jackie: that's my point because numbers of the many have pointed out how the stage was set up in the flanking in the marines and being used as a prop in the dramatic lighting that sort of red tone to give it this dark

very contrasted kind of a look many people sing it was inappropriate to use the military as a prop this was clearly a political speech and other real address to the nation. kevin: yes and i am surprised that his handlers did not recognize that maybe this was whether amy forrest there live and as desperate as i feel they are they felt like he needed to do something really big look more like the opening to a batman movie did presidential address and so it was disappointing and i think by the way, that i think what i don't think it elevates him but i actually think stature with the american public when he is now taken military use them as a political backdrop and things that they've accused donald trump of doing the hypocrisy of this unifier versus great divider which he has clearly become but i think that what it is really recognition that there in a position where they have to throw hail marys in hopes of their surviving this next

midterm election a couple of months and trying whatever they can also think that is just a little more comfortable with this sort of a message that he is with some sort of a more substantive policy message speech of yes a lot of people say there is no real policy talk about that would've taken it down the road it would be very difficult for him to explain to the american people and so he went in a different direction with the speech and some of your colleagues are tweeting is welcoming to be some feedback on this senator lindsey graham tweeting this if we can put it up on the screen for our viewers and with all due respect mr. present there's nothing wrong with american soul the american people hurting because of your policies' the one and yes no lindsey is exactly right and is a part of the strategy to distract away from the policies and hurt the american people and somehow deflect the blame to his predecessor of all things and mega publicans and went here's this person who has the

incredible luxury of having his party in the majority of the house and in the senate and as a result of that all-encompassing cover, they floated this economy with over now to have - $3 trillion of free money into an economy that was overly supercharged in an economy where the demand was already higher than supply an increased the demand we are still struggling through all of that but even with this week's job number still remain to be completely unwise but it's all looking flat in productivity, that's what i get wilkinson concerned about the predict and productivity the country we are in a recession and these are things that he does not want us to think about much less crime-ridden streets and immigrants. jackie: and orders and all of the economy is important to most people across the country and these are the conversations at the kitchen table how much of my paying for the groceries and how

much does it cost me my family to fill up the gas tank to travel to and from work at a school and on vacation etc., any american people this to a certain extent any of the present stands up there at the podium and tax half of the countries voters ahead of the midterm elections and clearly not remembering that some around, in 2020, very close election and we have spent as a country, this administration has spent $4 trillion, more than $4 trillion over the course of the last few months and we just got hit with the so-called inflationary production from another them hundred 39 billion and the forgiveness of student loans and not baked into the inflation cake just yet. >> no, that's exactly right jacky, but i do believe that the student loan forgiveness think will get big ten fairly quickly because your college presence and chancellors already country watching that saying i can raise tuition more now and skies

making it really easy even free money to people and i don't think it's they forgot, they are hoping they can somehow change the narrative while they cannot change what is going on in people's lives all the marketing of the backdrops of the no, that they are not hurting, they know their hurting every time he feel the gas tank or buy groceries or try to buy a home for crying out loud, were yet to see the worst of the inflation. jackie: guestroom help to get it breaks are going higher and the pain is antigovernment center kevin kramer, sweetie see you and thank you so much for your time. kevin: is always my pleasure thank you. jackie: payrolls rose in august asserted the unemployment rate and what it means for the economic recovery next pretty. >> reducing inflation is likely to require sustained. the below trend growth. and moreover, they were very likely be some softening in labor market conditions.

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biden: the great american jobs continue to come back, and american workers are back to work, earning more in manufacturing more building in an economy from the bottom up in the middle out to do is look at what the market ended that we can of course the jobs report for august showing three and 50000 jobs added, into the nonprimary, number 3.7 percent, me now through this cycle present john, as we do have you so much for joining us let's talk about the anna plum a report today saw labor force participation rise which is the reason the diploma rate rose one of the reasons it probably was at an artificially very low

level, a lot of economists and market analysts are saying this is actually a positive sign the people are returning it to the labor force c5 venison through you know, that we an increase of the number of people unemployed, the number of people employed, posted and even greater advance but because of the mathematics involved, we have this misleading rise of the unemployment braided no reason to worry about that yet sweetie what we have that report earlier this week on more than 11 million job openings right now and so essentially anybody wants a job, good probably find what if they put their mind to. guest: is a very healthy labor market and one of the surprises printed the august employment reports would be, that we did not see a faster rate of growth for the average wage and instead that slowed down on the slowing of the average wage growth, they gave investors a sense that

perhaps, inflation is getting under control we will see slower inflation going forward to do a couple of things to think about when considering the headline number, three or 50000 jobs added in august and 528,000 jobs were added in july and so this is a little bit of a weakening trend from the previous month and there were some revisions as well taking june and july lower. guest: yes, what we are about to see is a slower rate of growth for the payrolls going forward and if only because we saw back in july when we had 520,000 new jobs, that is simply unsustainable especially given the summer great have growth for the consumer spending and the business investment spending and there is no escaping the reality that for the longest period of time, we have had a cpi inflation price inflation, outrun the wages and as a

result, we can't help but have a slowing of consumer spending going forward it. >> only expend the point that you make about the wages and reiterate here, there was 3107 percent increase in wages month to month and year over year the wages were up 5.2 percent and seal pales in comparison to the overall cpi number which is eight and a half percent, still a problem for most people see one that is when be a major problem is a primary reason why many expect the u.s. economy to stop this year and perhaps slip into a recession by 2023 seater in the previous segment we were talking about spending this administration and the most recent spending so-called inflation predict and reduction, 3700 in the billions in this forgiveness of the studt loans and john, your take on how the inflation trend us will move

going forward because that most recent spending has not been added in just yet and he has the economy yet. john: is what is in it because we have the federal reserve on one hand that is increasing interest rates to slow the price of the inflation but on the other hand, we have the administration taking actions related to fiscal policy and increased demand and increase spending and as a result but upward sure on the prices and perhaps we would be better off if there was more coordination between the administration and the federal reserve. jackie: speaking of the federal reserve jerome powell broadcasting to the longest of there's pain to come and you know, the markets interpreting estimate the rate hikes that are coming will be more aggressive in the maybe they were thinking in july would be submarket rising, that having said coming your take on how and how he will read this report had headed into his decision-making process. john: i think that this report

does not change the expectation that the federal reserve will be hiking fed funds, short-term interest rates by three quarters of a percentage point come september 21st and i would bring the federal funds rate up to its highest level since early 2008, by the way, let's not forget that the current fed funds rate about 2.38 percent, was with the fed funds pete during the previous economic recovery and as it turned out, back in pretty 18, and 2019, the fed was eventually forced to cut the fed funds because the fundamentally stronger economy, but 2018, in 20, was incapable of show the children and 2.38 percent fed funds rate, in the morning here as there is a federal reserve hikes the fed funds higher public and only

increase the risk of an economic downturn. jackie: that's a really great point about john think you so much and it is going to see you have a wonderful weekend the housing market may be cooling, but there's some good news for the buyers and new real and have shows the bargaining power is back to realtor .com economists danielle hill will explain next. alright, limu, give me a socket wrench, pliers, and a phone open to libertymutual.com they customize your car insurance, so you only pay for what you need... and a blowtorch. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates

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jackie: welcome back, mortgage rates are now climbing to the highest level since mid july, during the already cooling housing market, and existing home sales fell for the sixth consecutive month in july goldman sachs is predicting that the downturn has further to fall and what is all mean for the

economy, turning me now is richard .com, chief economist danielle, suite two of you in the program and think you for joining us. >> to be here. jackie: federal reserve german enter jerome powell aggressively raise the race to fight inflation in this country, which means that it will make it more difficult for . buyers trying tr the housing market is a mortgage rates will climb in your thoughts on how this will all play into picture we scenes of our because what's interesting to me is without low inventory keeping the prices high yet they're still interest out there and how does it all play out. >> absolutely so people need a place to live in the rents are high and continuing to rise and so renting is an option is an increasingly worrisome is it one's a lot of people are looking to the housing market homebuyers to purchase especially if they're taking out a fixed rate loan, the talking and the lion share their housing cost is a great way to protect themselves against inflation

because of monthly payments will largely stay the same as of that is keeping the interest in the housing market high in addition to the fact we have a lot of young people over .8 million year olds in age ranges were the typically buying their first home and so those factors are keeping demand relatively high and even though as you noted mortgage rates are up in home prices are close to record high and increasingly expensive to get into the housing market and so is not easy but the interest is there any good news is in her august report it did get a little easier in the sense that we are starting to see more homes on the market for sale there's a silver lining providers in the today's market seated national price the average prices down in augus august 23, 5000 weaker than it was in july, is still pretty high ft price across the board, having said that, do you think that there are homeowners even with the interest rates on the rise by governor single this is still a better time to get into the market if it continues to be more aggressive there is only going to go higher from here.

guest: so for the home shoppers and think about whether they should by now maybe wait, i know a lot of people have asked me, whether they should by now to lock in the lower rate or maybe wait to see if the prices come down, we do historically see the home prices pull into the fall with a rates going up, that waiting for a lower price potentially which may not happen, may not be worth it so my advice to the shoppers the market is a by we find out for journeys official budget look in the right as soon as you can see to pull the trigger and obviously there was a lot of buzz around the housing sector during the pandemic it right we saw people leaving large cities referring to be more in suburban areas with had more space, when the kids can play outside and swimming pools are in demand receiving the same friends across the board sort of mentality alissa little difference of these more suburban areas but it's time for people to connect to the cities'

be five you are for sale day we don't see that interestingly we just did this it goes report which of the people not even going to suburbs of the going be on the suburbs and small markets in the northeast in particular areas did really well a couple of hours away from big cities and so that's just me that homebuyers are not thinking about going into the office every day of the week what is interesting is in our rental reports, we are seeing that urban area rents are starting to rise faster than suburban rents of us adjust the lease among the renters there is a father going to be going back into the office and perhaps thinking about locating closer to the office to make those commutes easier to think that's i always like to the housing market in these trends that we are discussing to figure out what is happening with the overall economy and also the labor picture as well, hello data and their that is useful and final point about what, here in new york city since you mentioned are on the rise cooled at all and so the indication even for a place to

stay during the week but some people are headed back this way. >> absolutely a couple of years of were starting see the rents pickup so i suggest the combination of worklife, opening the social scene, people getting back out, and are taking a look at this again sweetie thank you so much daniel for your inside of this topic and a lot of people are curious about it a great to see you. >> absolutely go go anywhere, horrible street right after this only at vanguard, you're more than just an investor—you're an owner. we got this, babe. that means that your dreams are ours too. and our financial planning tools can help you reach them.

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street every friday at 7:00 p.m. and join maria at 10:00 a.m. on sundays on the "fox news" channel for sunday morning futures, and plus are smart every weekday from 6:00 o'clock to 9:00 a.m. eastern with earnings with maria, right here on foxbusiness i will do it for us, thank you for watching will see you next time. >> hello, this week on wall street journal, joe biden said that he is that this, probably you, aren't exit visual threat to the republic but he was really them is to america democracy, jobs growth so us month the still beat expectations while wages are still trying to catch up with surging inflation, and could we in for winter economic