plus, heather boushey. >>> futures at this hour are adding to friday's -- a positive tone pretty goodn the past stay tuned you're watching "squawk box. this is cnbc >>> welcome back to "squawk box. slows ra slowing wage growth was reported friday but it's still flashing a recession. this man is 8 for 8 in forecasting recessions since 1968 says this time around his model is giving off a false signal joining us to explain this is a professor of finance at duke university good morning to you. you've been right the whole time you say that your model is flashing red and yet you think it's wrong what do you mean >> well, it's a model. and all model are simplifications of reality and it's a -- like a really simple model, if you think about it one variable the slope of the yield curve long rates minus short rates and i think that models sometimes fail and this is a particular situation where if you look at the other data, it's just not consistent with at least a hard landing. it is consistent with slower growth so the yield curve is saying that growth will be slow, but it's not obvious to me

. >> all rights, heather boushey, one of the advisers to president council of economic adviser. all right, thank you everyone. we're not gonna go back to our top story right now. i'm talking about the investigation of a deadly mass shooting in monterrey, california. if you're just tuning in, ten people were killed, ten injured at a dance hall or a lunar new year celebration was taking place last night. we've been showing you a white cargo van in torrance, california, is going. in about 20 miles from monterrey -- to gain access inside the white cargo that. according to video from nbc los angeles, law enforcement then opened the door to the van. and entered the vehicle. the white van matches the description of the alleged suspects car. los angeles county sheriff robert luna, didn't confirm whether the suspect was inside. we are obviously gonna keep you posted. we're staying on this story. joining me now on the phone, msnbc terrorism contributor, jim kavanaugh. he's a retired atf special agents in charge, former hostage negotiator for atf. jim, thank you very much for your time ton

kriti: coming up, heather npidjru kpomd -- boushey joins me.his is bloomberg. ♪ alix: we are still awaiting remarks from president biden in the court auditorium. it it late. but we do have the conversation about the economy. we do have some updates. i want to come to this classified documents. special counsel to the president speaks and his lawyers are saying that they did find additional classified documents. white house counsel says they are fully cooperating. some of these documents were apparently found in president biden's garage. let's listen in. pres. biden: i'm a little late. would you please have a seat. the national cathedral after 11:00. good morning. today, we got some good news about the economy. the six month in a row, inflation has come down. measure of the last 12 months it has fallen six point -- 6.5%. that is down from 7.1% the month before. that is down from 9.1% this summer. inflation is now at its lowest level since october of 2021. looking at just the last three months, we see inflation fall to 1.8% on an annualized basis.