this week, fed chair j. powellinue to raise rates until the job of fighting inflation is done. joining me now apollo global management chief economist tourist in slack in the federal service, trying to slow down the economy , and we've seen some indications that maybe they're having success, but the labor market is still red hot. how does this play out? yeah, absolutely. i mean, in some sense, that's the whole problem that the fit would like to cool the economy. me down. because that's the main way you can cool inflation down today, inflation at 8.5% is just too high relative to the fed's target, which is 2% so that's why they fit needs to raise interest rates. that's why j. paul this week and also at jackson hole has been talking about. we need to raise rates further, and civil fomc members also now pointing to 75 basis points at the next meeting, and all that is exactly to cool the economy down and also ultimately to slow the labor market down 8.5 to 2, that's fairly big delta as you, economists say. jason furman

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in particular after the chair's speech at jh, the message i got is very clear. failure's not an option to j. powell there but you've got to believe the fed now. and i've been surprised how unified the messaging is among other members of the committee on this point. >> they're speaking from the same book here when it comes to, i always said like you wake up in the morning if you're a central banker, you hate inflation you may be a dove or hawk, but you're against inflation let me turn to another question. on the one hand the fed says they're data dependent ordinary we hear numbers like 4% and they're guiding toward this number is this data dependent or are they going to 4% hell or high water in >> i think they are going to 4% hell or high water they are data dependent, but inflation is way too high. the fed had a lot of company, and i was part of it in getting the inflation forecast one but job one, and really, i think of the fed right now, until inflation comes down right now, the fed's really a central mandate central bank if you squander price ability -- i think they're going at least to 4% >> th