david wessell, thank ou for slim majority. david wessell, thank you for talking _ slim majority.rity. david wessell, thank you for talking us through _ slim majority. david wessell, thank you for talking us through that. - slim majority. david wessell, thank you for talking us through that. we | you for talking us through that. we will wait to see if that deal is done. around the world and across the uk, this is bbc news. we didn't know what is going on till be open to tv and realised that as they were started between the regular sudanese army and the paramilitary rebel forces. reliving their escape _ paramilitary rebel forces. reliving their escape from _ paramilitary rebel forces. reliving their escape from civil _ paramilitary rebel forces. reliving their escape from civil war, - paramilitary rebel forces. reliving their escape from civil war, the i their escape from civil war, the family of six were in sedan to celebrate ramadan and eat with relatives in the capital khartoum when fighting broke out —— and eid. rr front door were shot by billets and then we found it inside the

. >> to soar through the thinking and the feds approach, i'm joined by david wessel, the director ofhe hutchins center on fiscal and monetary policy. good to see you. paul was asked why this increase when the economy does seem to be cooling. >> jay powell is determined not to let inflation continue to be at these levels. jay powell idolizes paul volcker, who broke the back of inflation. he is willing to take a recession if that is what it takes to bring inflation down. what was interesting, he admitted the fed staff thinks we will have a recession, 400 phd economist, he happens to disagree. >> it is the fastest series of rate increase since the 19 80's. inflation has become too moderate. still above the 2% goal they want to hit. are we going to see more increases ahead? >> we don't know. he signaled it may be the last one for a while. he did not come it -- he did not commit. the incoming data, inflation cool off or not, and focus on l. if they see a lot of that, it may not raise rates again. >> inflation has been stubbornly high for two years. when you look at this particular economy

david wessel joins us again.director of the hutchins center on fiscal and monetary policy at brookings. great to see you. both sides claiming victory to some degree. you heard lisa's reporting on the details. from your perspective, what stands out to you about compromises and what each side got? david: i think a lot of stuff in the bill is there so people can say they got something. as lisa pointed out, the republicans did not get all of the work requirements they got the democrats did not keep work requirements the way they are now. the most important thing to remember is this does not solve the nation's debt problem. the debt will continue to rise. all of the cuts in this bill are focused on annually appropriated discretionary spending. nondefense spending. that's about 10% of the budget. what is driving the debt medicare, medicaid, social security and taxes. all of those are off the table. when the debt ceiling expires, in 2025, that's the same year that the 2017 tax cuts expire. we will have a big fight over

[captions copyright national cable satellite corp. 2023] david: i'm david wessel director of the hutchins center on fiscal and monetary policy here at brookings. there are a lot of really important topics dominating the headlines today. ukraine, inflation mass , shootings police ,shootings of black men another , banking crisis the debt ceiling the 2024 election and the russian arrest of upholstery journal reporter evan gershkovich . the word social cost of carbon don't usually make the headlines which is why we organize today's event uh the it's a bit of a cliche that the social cost of carbon has been dubbed the most important number you have never heard of. glen rutabush my colleague suggested we call this event the most important revision you haven't heard about to the most important number you've never heard about. today's event is intended to change that as we wrestle with the challenges of climate change we want to highlight the importance of this measure as a way to think about climate change but , also in the regulatory response to climate change in the in the united states. of co