now i google every day just arpa funds or infrastructure funds. it's amazing how much activity there really is going on around the country at the local level and just how much money is coming in. when does that run out is there any work and analysis on just how long that can last and do you think that prooents us from ever going into recession in this cycle? >> the arpa money has to be in the lingo, obligated by '24, spent by '25 and the size of that original grant to the cities and states was something like$350 billion some of it has been spent but there's not great transparency on what hasn't but i tell you, my travels across the country, a chunk of it hasn't. the inflation reduction act money will go on for seven or eight years. these are sizeable programs and they're like the programs you would do if you were trying to come out of a recession, not pre-recession. and so, this is a challenge. and it's unusual, i don't remember a situation like this >> yeah, just to be clear, arpa is the american rescue plan act. that was the trillions of dollars

monetary policy is trying to tighten and squash inflation all you have to do every day is google arpaan act and infrastructure. i did it today and guess what, these counties are trying to figure out how to spend the money. chur rock massachusetts get money for waste water project, for instance we're picking all sorts of - >> arpa is -- we've got arpa, which one was that >> american rescue plan act, which is the $2 trillion the biden administration passed when they came in where people said we had trillions in covid, but we still have it. >> that was not the infrastructure act nope that's something else. >> these are infrastructure deals in many ways or things that money is being used. >> building mental health centers, buying ambulances for municipalities. >> and then the ira which is also kind of infrastructure related even throw it's not. >> the inflation reduction act. >> that is the largest of the three, i believe n terms of the expenditure or no? >> correct trillions of dollars that, you know, i'm not criticizing that because a lot of that is necessary to rebuild and build us for

you know, i know that in the department of violence prevention, we were able to use a 17 million of arpa funding, one time funding to actually give out to some of our most incredibly important community interrupters. and so we were able to do that. and so in this budget, we're actually able to increase the number of employees and staff in the dvp by a dozen employees, but they still lost $7 million based on union budget, right? that normally they would got funding funding. and so they were still able to increase in that department. but some of the employees that you needed. yes we were able to grow that department by 12 employees. all right. let's talk about crime in oakland, since we're talking about this. you have crime in oakland, violent crime up 7. robberies up 12, rapes 23. how does this address those numbers? i mean, these are high numbers. if you live in oakland, you've seen some of the issues that we're facing, like i do. how does this budget address that? absolutely. and so if it weren't for what we have right now, obviously you would see those numbers be a lot higher. this num

we focus on the consumer stimulus but infrastructure, i.r.a., the inflation reduction act, arpa, thecu■ plan act, all just pushing al■ t of money into the system working against the fed.-■ >> it isÑ■ expensive.e it's t(■2:00 eastern let's get to the judge.f >>>e1i] welcome to "the halftime report." i'm scott wapner the great debate, who is r&■y in charge of this x■market the bulls or the bears?e why that answer means everything, of t(■ourse, to your money. joining mei■ó■■■tox■ discuss ith baruch, jim lebenthal. let's check the markets and see what we are doingfá thisx■ hour. stocks are tracking fort(■four down days in a row, thexd■worst■ weekl■ since march.ç the nasdaq about to break its eight-week win streak. the dow is aÑ■ modest loser. the s&p is a modest winner.e so, jim, i feel like we needx■ havei■ this conversation becausi still feel like wye don't have a x■answer >> we don't. >> whof■ is in jfcharge, the bus or the bears the momentum has been on the bulls side you felt a little bit better about your ownt■ case and about where you thought this market was going. and here we are

we focus on the consumer stimulus but infrastructure, i.r.a., the inflation reduction act, arpa, thet wapner the great debate, who is r&■y in charge of this x■market the bulls or the bears?e why that answer means everything, of t(■ourse, to your money. joining mei■ó■■■tox■ discuss ith baruch, jim lebenthal. let's check the markets and see what we are doingfá thisx■ hour. stocks are tracking fort(■four down days in a

see that really showing a bit more of a slow down of course all of this is feeding through what the arpawell, which did see some weakness in the previous session and we have seen more of a turnaround now as weak are getting into the asian training day. sticking with fx, our next guest says the u.s. dollar could move higher, especially if this data shows that usa to any remains strong and we could see more fed hikes. let's bring in the head of fx research at her firm, we see this divergent see when it comes to outlooks, rates and inflation expectations driving more weakness in the end. >> i think in the short-term we do expect yen momentum to continue, touching that mid-140 level. i think that is really low, and investors are taking advantage of the trade that we seek, the terminal rates in the u.k., europe continue to move higher and that differential continues to widen in favor of or out-of-favor of the and in the near term. we to expect at some point that we will see some sort of strengthening and narrowing of differentials, that is probably an end of your story. -- year story. >> in t

i did a quick google search this morning about arpa, ohio, the western reserve port authority approvedue plan act from the city of youngstown this is today. every day there is something the mayor of wheeling, west virginia, just said, it was almost like getting one-year full of city budget just to make improvements on projects they're being flush with cash and it's helping the job market as well. >> yeah. >> one economy we didn't mention when we talked about all those that are still raising rates is china, it's different and the world's second largest economy. >> they're easing. >> they're having a harder time of things. >> what's interesting is they're easing and usually the market likes when central banks ease, but there's some -- the sentiment has been sour. >> negative. a lot of concern we've mentioned the youth unemployment statistics which are somewhat staggering over time. >> the one good thing, well, yeah, there are theories about is china going to export deflation. is the u.s. going to export inflation. not seeing a lot of that, but there is concern that china is not going far

billion from medicaid home and community-based services for this budget funds for cancer moonshot arpa-e the best family planning programs central to so many families and delivers on a commitment. important to me as a former attorney general to pollsters are health care fraud and abuse detection and enforcement work in the president's budget honors the responsibility with more than $2 billion in new resources for 2024 professor for the first time he gave the health service defense appropriations providing the same protection against budget uncertainties that other health services received. we hope to build on that progress this year. this budget reflects the presence and our values and commitments and helps us move from a nation focused on illness care to one about wellness care and most importantly ensures the health and wellness are within reach for all americans. about half the women and men at the department of health and human services i look forward to working with you and thank you for having me today. sven >> mr. secretary thank you. i will start off with respect to the drug fund