host: desmond lachman joins us now. pay studies the global economy.he headlines strained markets need a functioning washington and gridlock want help desmond lachman explains. guest: we just had the midterm elections and what has occurred is we now have a divided congress that the democrats have lost the majority in the house and they do maintain a majority in the senate but what that means is the prospect that things can be done over the next two years. we have a government as for is the economy is concerned so you can have any real initiatives in terms of spending policy, or text policy -- tax policy. if washington is gridlocked, neither party can get up to too much mischief either. the democrats spending too much money or the republicans are taxes without funding it as has occurred in previous periods. the point is that we are not living in normal times the u.s. economy looks like it's going to go into a recession next year. that's the consensus opinion, there are many reasons to think that is going to be the case. there is reason to fear if the re

host: desmond lachman joins us now. pay studies the global economy.eadlines strained markets need a functioning washington and gridlock want help desmond lachman explains. guest: we just had the midterm elections and what has occurred is we now have a divided congress that the democrats have lost the majority in the house and they do maintain a majority in the senate but what that means is the prospect that things can be done over the next two years. we have a government as for is the economy is concerned so you can have any real initiatives in terms of spending policy, or text policy -- tax policy. if washington is gridlocked, neither party can get up to too much mischief either. the democrats spending too much money or the republicans are taxes without funding it as has occurred in previous periods. the point is that we are not living in normal times the u.s. economy looks like it's going to go into a recession next year. that's the consensus opinion, there are many reasons to think that is going to be the case. there is reason to fear if the recess

and then desmond lachman of the american enterprise institute talks about the u.s. economic outlook and potential policy shifts in the new congress. watch washington journal live at 7:00 p.m. eastern friday morning at c-span or she spend now, free mobile app. join the discussion with your phone calls, facebook comments, textbooks and tweets. >> the first woman to be elected to second deputy speaker in the afghan parliament talked about women's rights since the pet -- since the taliban takeover. >> i am really pleased to be hosting my friend. that she is here for the month of october. she is someone i really admire and look up to. it is important to have people you admire in public life and she is one of the people i most admire in public life. really happy to have her today. this is after the fall of the legitimate government in afghanistan. i am really happy to have her here today. i am not going to say much more than that. i am going to turn it over. i will let you make some remarks. >> for afghan women to get a state with elevate attention shifted from afghanista

beyond 2025 and the first-order with claudio boro, desmond lachman first, then claudio boro, then catherine mann. >> i think there's going to be a hard landing, a financial meltdown, the same mistake we made before, pump it up and have another one of these cycles but i'm concerned there is so much more debt than there was before and so much misallocated that i don't see how we avoid a hard landing. >> claudio boro. >> clearly the big picture is we are facing unprecedented conditions. is paramount for central banks to bring inflation down and they are doing it in a context in which the financial side, the macro linkages in the global economy are going to play a key role. banks are in better shape than they were during the gfci but something goes bad in the non-bank sector it doesn't necessarily stay in that sector. >> catherine mann, you might want to unmute. >> this environment where you have cross-border linkages and they play a very important role central banks are moving for their own reasons in the directions they are but nevertheless the linkages are financed and on the real side, it b