coming up, white house economic advisor jared bernstein with the job market, and when we will get relief from high inflation. a strong dollar has pro-plaps and cons. should you adjust your portfolio? we begin with three things investors should be thinking about. stocks fell after a stronger-than-expected jobs report. what it signals for upcoming fed hikes. cars are still selling at and above their sticker price despite rising rates on financing. how long could it last? president biden pardoning thousands of convicted marijuana possessors. what it means for legalization, part stocks and investors. on "barron's roundtable," ben levisohn, kristin bell strum and jack hough. the market was up huge monday and tuesday and investors got nervous into comes down to that. ben: one of the most depressing gains i've seen in a long time in the stock market, massive rally since december of 2,020 at the market tried to get it back and didn't quite succeed. it was all about what the fed is going to do, we had weak economic data at the beginning of the year, australia's central bank and a lot more than th

-- >> jared bernstein is nice but wrong.g up at the same time they hear the president of the united states giving fist bump to leader of saudi arabia and telling us that the solution is to buy energy efficient coffee makers. the way back to controlling inflation and american independence is going back to where we were just in 2019, shannon. america was a net oil exporter, beneficial for every american. even americans that think wind and solar production is a sweet thing. >> don't mess with the coffee makers. you have to settle on that. meantime, the president said if you elect republicans, give the gop control, you watch inflation get terrible. this is the headline on the federalist. get ready for democrats' new strategy blami inflation on en. >> fascinating strategy to blame republicans when democrats control the white house, both houses of congress. we have seen that american voters very much are aware of inflation, rising costs, problems with the economy. and that's actually one of the issues they say is motivating them t

the white house and jared bernstein just before me they're talking bragging's of gas prices are lowergas prices are about 60% higher today than when joe biden took office. and he shut off american energy production that is white happen he has allowed opec foreign countries he has a big russia, he has begged iran, venezuela and other countries to produce oil when we should be producing it in america. we do a cleaner than anywhere else. by the way if we produce more energy in america we would be lowering energy costs like we had two years ago. people are furious about all of that. they're also furious about rising crime because of democrats have embraced not only defend the police movement one of the craziest ideas i've ever heard, now the going to cashel's letting criminals out on the streets after they have committed violent crimes against families. that it's one of the recent crime is out of control and people are furious about that too. they want to check and balance on this far left agenda. shannon: less about the crime issue per that's one of the areas polling shows us voters to g

joining us now is jared bernstein.ps talking about how strong the economy is, that's normally good except when the fed is trying to orchestrate a slowdown in demand so, you know, everyone time the president says things are awesome, things are great, we've got -- job numbers are staying in there solid, it just means that there's no pivot coming see how hard it is to walk that line, jared? >> yeah, i hear you. but both of those things can be true and i would argue are true. the president has talked about this over the past few months, a transition from the breakneck growth pace of 2021 to more steady and stable growth that's what has to happen to ease inflationary pressures. by many metrics, that's precisely what's happening our goal is to maintain the strength of the labor market while doing all we can and respecting the fed's independence as they do all they can to reduce price pressures. when you have an unemployment rate that's close to a 50-year low, you're creating jobs at the kind of pace that we're seeing, i thin

>> well look, jared bernstein is a friend of mine and i won't jump on jared day.> dana: is it fair? that's a fair question. >> it is a fair question. the fact that inflation is every where a fen nom on, if you look in germany the inflation rate is 10%. u.k. it's almost 9%. higher than in the u.s. strongly suggests it is not something that the u.s. did. it's a worldwide phenomena. nowhere is that more true on energy and gasoline prices. i think it's a fair criticism of the administration that they are not doing everything that they could do because they could get rid of the trump tariffs and they could increase the amount of immigration. what is happening is we have a growth in the labor force shortage. we don't have enough workers. and that's driving up prices throughout the service sector. so i would like to see them do more on those fronts. >> dana: steve, that's interesting because we might all be able to agree on some immigration reforms are necessary but until the border is secure, those conversations are going to be very slow to get started. >> i think one o

coming up, white house economic advisor jared bernstein with the job market, and when we will get reliefollar has pro-plaps and cons

white house economist jared bernstein says the report is good news for the american people going into the holiday season. the idea of going into that with an unemployment rate 3 and a half percent, people should have >> continue to have your very ample employment opportunities to bring home paychecks are going to need to have a good holiday season. but each day and tony, an economist with the conservative heritage foundation calls the biden administration's outlook short-sighted 3rd quarter of economic growth definitely looks like it's going to be positive. but after that, all bets are off in tony fears the labor market could shrink in coming months as the federal reserve continues to raise interest rates to slow inflation that makes borrowing more expensive on everything that means businesses are going to continue to hire fewer people until they ultimately stopped hiring. and then the layoffs begun. wall street is not happy friday. stock indexes dropped sharply in the price of stocks are falling. how is this could characterize as a good job for work? what's good for main street is ba

white house economist jared bernstein says the report is good news for the american people going into the holiday season. the idea of going into that with an unemployment rate of 3 and a half percent, people should have >> continue to have your very ample employment opportunities to bring home paychecks are going to need to have but holiday season, but each day and tony, an economist with the conservative heritage foundation calls the biden administration's outlook short-sighted 3rd quarter of economic growth definitely looks like it's going to be positive. but after that, all bets are off in tony fears the labor market could shrink in coming months as the federal reserve continues to raise interest rates to slow inflation that makes borrowing more expensive on everything that means businesses are going to continue to hire fewer people until they ultimately stopped hiring. and then the layoffs begun. wall street is not happy friday. stock indexes dropped sharply the price of stocks are falling, how is this could characterize as a good job for work? what's good for main street? this ba

inside the white house even jared bernstein known for his left-leaning views had concerns over the summerhat would impact the massive infusions of printed money, 500 billion in 2020 alone would have inflation. >> the fact that the matter is his policies have made our economy worse. we have brought in $4 trillion last year. we spent nearly seven. that is what causes inflation. >> president biden has not held a campaign rally since before labor day. that job will fall to former president barack obama in the coming days. >> live at the white house. great to see you, lucas. thank you. >> now for a look at the highly contested midterm races. the pennsylvania senate race between doctor oz and john federman is closer than ever. donald trump and barack obama both on the campaign trail to drum up support from their respective parties. alexandria half has that story. >> let's start in pennsylvania. one of four races that they have classified a tossup. chipping away at the sizable lead that john fetterman once held. on tuesday the two will hold their first and only debate putting fetterman's health

jared bernstein was on tv this weekend saying the spr is more than half full and he said joe biden notade a decision as of sunday so we will see. we are calling senators but we think a decision will happen this week and there are three buckets. one is 10-15 million barrels and that's from the 100 80 they have already announced. they will announce they will fulfill rather than leaving open the question about whether they will. the second thing is they will start identifying buyback opportunities. there is an ongoing discussion to limit exports of gasoline and diesel fuel and that remains like there won't be a decision before the midterms on that one stuff joe biden has had gas prices are still too high in the wake of that production cut and he is three weeks away from midterm elections which will affect democrats. guy: diesel prices are spiking sharply at the moment on both sides of the atlantic stuff there is huge demand and our colleagues will be writing about this. if this continues, this is a problem for u.s. trucking. can the present wait? >> whether they can wait or not, we will s

meantime, you had jared bernstein who's white house council economic advisers on fox news and he was more specific and says they need to work on supply side of the economy meaning supply chains, shipping costs, air freights and shipping goods at a speedy time like they were shipped before covid especially heading into the holiday shopping season and the interest rates, there's a blunt inteinstrument and really tackls the demand side of the equation and a lot of people on wall street believe that it'll lead us into recession at some point in the next 12 months. ashley: right. very good. it's not good but you're right. susan, president biden visiting california yesterday. he attended a fundraising event with house speaker nancy pelosi. how much were tickets to get into that event? >> speaking of high inflation. $5,000 ahead and a top spending paying $50,000 and the fundraiser was handed out and many others and biden will continue on the west ward journey and heads to orange county later on today to discuss lowering costs for american families and that fundraiser is part of biden's four

inside the white house even jared bernstein long time by an economic advisor views had concerns over the summer of what impact the massive infusions of printed money of 500 billion in 2021 alone, would have on inflation. on the campaign trail, most democrats are not talking about inflation or the surge in crime. >> right now is that a democratic congress that rubberstamps everything joe biden does. he wants more spending that resulted in inflation. correct after some initial court victories and federal appeals court st. louis is struck down and block the president's plan to pay off the student loans for the white house says they perceived full speed ahead until final decision is made, eric. see for right lucas to note the music we hear is an event in the park right across the street because my. >> it is a protest it's ethiopian activist talk about fighting. or that's where you go to discuss your issues right in front of the white house for. >> last night was allotted by iranian protesters protesting activists about the woman who was killed because while more on that, at least that wi

today when they got the numbers today and i have to tell you, i mean, i heard your interview with jared bernsteinrning. >> dana: are you pulling your hair out? >> judge jeanine: i was pulling my hair out and try not to yell at the television, because every question you asked him coming his head with the inflation reduction act, you know, that the president has put in place that is reducing inflation, and it could not help but think that the president himself pretty much admitted that it does not reduce inflation when he said in maryland, he said we passed the inflation reduction act, which does not matter to a whole lot of people, where basically admitting that it does not reduce inflation, and we saved everything with the strategic petroleum reserve, we dumped all of that oil onto the world market, so that china could buy it. it's like it's amazing what is happening and how they tried to spin it, but you have to give them credit, it is politics. that's what it is. this thing with the subpoena is meaningless, i'm sure that he could care less about it. he has a lot of issues right now. he has geor

also, jared bernstein from the white house. we'll see you in 14 minutes.d a busy two. hours. see you then. and sewnrown right here in our hometown of moulton, alabama. from our heirloom inspired sheets to our super absorbent bath towels, to our 100% cotton quilts. every single piece is made right here in america. we believe in keeping our heritage 100% american made. enjoy our farm to home products and receive we believe at newday usa we have a noble purpose. our purpose is not just closing a loan. we want to do whatever's best for the individual service person. we want to be known as america's mortgage company for veterans and active-duty service people, and they and their families. we're the ones there to help them. people are doing hard, arduous, difficult, dangerous things. some of them are giving their lives right now, today, for the freedoms that we have here in this country. they're willing to do that for you, for me, and for our family. so for us, at newday, to have the opportunity to turn around and help those people at this point in time. it's a

> americans are reeling from the impact of higher oil prices but white house economic advisor jared bernstein has things under control. listen. >> we have american oil producers about to produce next year a record number of barrels per day. so we have a highly-productive system in that regard. we're the largest oil producer in the land, in natural gas, in the world. natural gas we're also way far ahead of competitors in that regard. david: from advisor to former energy secretary dan brouillette. victoria coats. thank you for being here. sometimes i wonder if they live in an at at that time universe. the fact we have a "wall street journal" headline, federal oil leases they claim that their leases are going out in great numbers but they have actually slowed to a trickle under president biden to a level that hasn't been seen since the end of world war ii. so, not only are they not giving permits, they're not giving leases that they claim. >> no, david. thanks for having me on. i was just out in the western pennsylvania where i'm from. so we had an exciting weekend out in oil city last week visi

shannon bream will have exclusive interviews with white house council of economic advisors counsel jared bernstein and steve scalise. and on media buzz, kelly ann conway joins howard kurtz, that's tomorrow 11 a.m. eastern and only on the fox news channel, jacqui. jacqui: new developments in the trial of russian igor den denchenko, and david spunt is with us with the latest. >> jacqui, on paper, this case is simply about lying to the fbi. i shouldn't say simply about lying to the fbi, that's a federal charge and crime and that's what this is about on paper. in the courtroom over the past week, things became more clear in the lens and you could see that the government, led by special counsel john durham was focused more on the fbi itself and uncovering problems within the bureau in 2016, and shortly thereafter the election. igor danchenko is from northern virginia. the judge in the case dismissed one case against him. right now charged with do you remember counts of lying to the fbi. the team announced they would not put on a case meaning it goes to a jury on monday. the special counsel charged him

. >> tradeoffs for people are scaring, and jared bernstein says the crystal ball is cracked.on't think it's cracked, people can see into it and they know what's coming when you overspend, when you have inflation, companies get nervous and boy are they getting nervous. you can see what's happening. the administration does not want to admit it, it's a story they have no answer for, but americans in wintertime especially, heating questions, paying for utilities this winter, people are getting very upset about that. >> sandra: i interviewed a woman up in maine last week whose job it is to help people manage their finances to get through the cold winters up there because they are having to sacrifice other areas of their life just to put away money to pay the sky high heating fuel prices. >> half of americans approximately use natural gas and the natural gas is up 28% year over year and it's going to get cold on the east coast this week, so people will be thinking about turning on heat and make critical decisions, depleted your savings, put all the extra stuff on credit cards, peop

. >> jared bernstein does. >> but most people aren't talking about macroeconomic data in their drivewaysors. so, good data is good data. they had the data today. what they do know at the white house, what you touched on. it's about how people feel. and now they're feeling about the economy. things that make you feel better, gas prices coming down, going to fill up your car and seeing that. and that's a good sign. but the big question is, whether this is going to be enough over the next couple of weeks. the last -- what they're trying to do. you saw the president do it today. is draw that contrast. he says, don't compare me to the almighty, compare me to the alternative. one of his favorite sayings. the question is, do people have the patience, the will to do that? >> it's not just the patients and well, it's this trope that exists in american politics. that somehow republicans are better on the economy, no matter what reality and facts dictate and democrats are better on other, non economic related things, social progress for example. he's butting up against the clock, the clinical -- ec

white house economist jared bernstein says the report is good news for the american people going into the holiday season. the idea of going into that with an unemployment rate of 3 and a half percent, people should have >> continue to have your very ample employment opportunities to bring home paychecks are going to need to have a good holiday season. but each day and tony, an economist with the conservative heritage foundation calls the biden administration's outlook short-sighted 3rd quarter of economic growth definitely looks like it's going to be positive. but after that, all bets are off in tony fears the labor market could shrink in coming months as the federal reserve continues to raise interest rates to slow inflation that makes borrowing more expensive on everything that means businesses are going to continue to hire fewer people until they ultimately stopped hiring. and then the layoffs begun. wall street is not happy friday. stock indexes dropped sharply and the prices stocks are falling. how is this could characterize as a good job for work? what's good for main street is

. >> jared bernstein, welcome to the sunday show. >> it's a pleasure to be with you. >> let's dive intoyear over year in september. why is it so staggeringly high? is there any relief in sight? >> well, there's some relief in the report if you get under the hood, which you should in these reports. gasoline was actually down 5% in september and in the third quarter the price of gas fell almost a third. that provided some very important breathing room for american consumers. it's directly related to the release of 180 million barrels of oil back in march that the president committed to. some of those barrels are still coming out. there is a lot of pressure and elevated prices squeezing budgets, we are well aware of that in the area of housing, in the area of food as well, of course even with a decline in energy prices there still elevated. i think the question becomes, jonathan, are we doing everything we can to help ease those prices? i think the answer is yes. i can take you through many of our actions that we believe are helping. >> i'm sure you're gonna mention the inflation reduction

jonathan: that my jared bernstein from the white house council of economic advisors payment good morning.7% on the back of disappointing ad numbers out of google. cloud spend down at my croissant. disappointing numbers down at texas instruments. a little bit later after the close, meta. rally in the bond market continues this morning. this morning, down by four or five basis points. we talked about this rally in the bond market, weakness you are seeing on the back of it in foreign-exchange. 1.0023 euro-dollar. looking for potentially 75 basis point hike. news out of russia in the last 60 minutes. vladimir putin and others speaking. i want to get maria tadeo to get us up to speed. what have we heard from vladimir putin? maria: you have to pay attention to what vladimir putin says and what russia is doing, whether you believe what they say, whether they need what they say -- remember, we are in a propaganda war. but we have pictures on russian tv, vladimir putin overseeing nuclear drills. they say everything was on target, the training went as expected. there are number of things to keep i

fox news sunday, white house economic advisor jared bernstein was asked about the biden administration'sfforts to bring down inflation. here is what he said the president is doing. [video clip] >> we can possibly say things are better or near where they were two years ago. groceries up 13% last month, eggs more than 30%, milk more than 15%. polling shows 71% of americans say they're having to cut back just to afford necessities, not anything fun or luxurious. they say compared to two years ago, there were soft, and of them. what do you say to them? >> let me speak to them directly, which is all of those facts are facts which we are acutely aware. when president biden came to talk about this inflation, he started by talking about exactly that, the squeeze on family budgets. you have to ask yourself, is this administration doing what we need to do to help ease those pressures? remember, these are global price pressures. those statistics, they're actually worse in europe and the u.k. inflation is higher there -- >> not necessarily, not in france. >> ok, but in the eu in general, i know infl