claims continue to fall and we will speak with jared bernstein. some earnings are good enough and results come in ok and prop of the market and we will see if strong sales can continue. some earnings disappoint. southwest warns of a first quarter lost. welcome to bloomberg markets and the sherman williams conversation -- how much can -- doesn't this affect all sectors? guy: you have thought so but with the labor market holding up, it is fascinating to see how things are playing through. judy -- the gdp number is better than anticipated but this is april -- economy is -- that is reacting well to what has been strong most by central banks. you could look at this data and go, it could be worse. alix: agreed and let's take a look at home sales. on a month-to-month basis, they are up by 2.3% but it slowed from november. slowing but still holding up. it feels like a soft landing. guy: it does and there are going to be elements within the state at that are maybe -- within the state at that are maybe concerning. it has already priced in a awful lot but wh

jared bernstein, we'll have you back tomorrow if you want to come back on. we will make a window for you, because i find these conversations fascinating. not dry at all. >> appreciate it my friend. thanks so much for coming on. >> sure. >>> the other thing, we asked whether the white house's obfuscation over president biden's hands ling of classified documents would affect the 2024 ticket. today the white house says no. and nbc news reports the decision will not come until after the state of the union. joining me now is nbc news senior white house correspondent kelly o'donnell and "washington post" national reporter and msnbc political contributor, carol leonig. first the reporting from nbc news about when a 2024 announcement might come. >> certainly there is a lot of speculation about what the president might do, and at this point, there is an expectation that he is likely to run, although no final decision made. and so then the big question is, when would that announcement come? and that is critical, because of all of the things that sets in motion. and wh

jared bernstein is on the president's council of economic advisers andrew >> thanks, kayla. >>> cominge've got two big hours ahead. we're going to get you ready for a wild week on wall street, let's hope it's not wild but it is going to be the busiest week of earnings season. huge tech names reporting later in the week. we'll talk about it. plus, it's fed week and jobs week former fed vice chair roger ferguson is going to be with us to talk about his expectations for all of it. "squawk box" coming back after all of this. ♪ prizefighter... ...meets trailblazer. ♪ ♪ classic meets modern. ♪ at morgan stanley, we may seem like a contradiction...and we are. ♪ ♪ at 87 years old, we still see the world with the wonder of new eyes, ♪ helping you discover untapped possibilities ♪ and relentlessly working with you to make them real. ♪ partnering to unlock new ideas, ♪ to create new legacies, ♪ to research, innovate, collaborate, ♪ and build the way to transform a company, industry, economy, generation. ♪ because grit and vision working in lockstep puts you on the path to your full potential. ♪ >

jared bernstein, always good to have you. i am not having any more babies so it shouldn't be a problem getting you back on when i'm in this seat again. >> that is a whole 'nother discussion. >> it is a done discussion. no more. thank you very much. >> good to see you. >>> and california has become the largest state to sue major drug cases over insulin prices, along with arkansas and kansas and illinois, that filed suits last year. saying the companies engaged in unlawful business practices by increasing the cost of the drug. the inflation reduction act, a moment ago, signed in august, is supposed to put a $35 cap on insulin but only applies to medicare part d recipients meaning millions of american does not benefit from that cap. california a. g. is suing three pharmacies benefit management companies and three pharmaceutical companies which control 90% of the global insulin supply. >>> still ahead, what neighbors of solomon pena say worried them, even before he was accused of hiring men to shoot at the homes of democratic off

the tough talk, biden is set to meet with mccarthy to talk about lifting the debt ceiling, but jared bernstein, one of the economic advisers said he is open to fiscal talks, but he will not cede any ground on social security and medicare, and republicans say it's going to kick the can down the road. >> are there reforms for social security and medicare, absolutely, cbo has said it, omb has said it, we are going to honor the payments and the benefits for retirees, you can't do that if washington puts their head in the sand and ignores the inevitable problem that will come with the two programs. >> so this is the kind of thing the white house is eager to talk about. anything but the documents, which now house republicans count among the investigations they were already planning heading into the new congress surrounding things from covid origins, afghanistan withdrawal, and hunter biden's business dealings. >> sandra: thank you, jacqui. >> john: bipartisan outrage is building after director of national intelligence did not give a damage assessment on the classified documents found in president bi

jared bernstein is a member of the white house council of economic advisers. coming up, we have an important story in the pennsylvania state legislature you need to know gout about because republicans are once again pulling some shenanigans there. the republican leader or joanna mcclinton joins us next. n joins us next. ♪wow, uh-huh♪ now she's got a whole team to help her get the most out of her plan. ♪wow, uh-huh♪ with coverage that's better than ever for dental... ...vision... ...prescription drugs and more. advantage: me! can't wait 'til i turn 65! aarp medicare advantage plans, only from unitedhealthcare. take advantage now at uhc.com/medicare okay everyone, our mission is complete balanced nutrition. together we support immune function. supply fuel for immune cells and sustain tissue health. ensure with twenty-five vitamins and minerals, and ensure complete with thirty grams of protein. bye, bye cough. later chest congestion. hello 12 hours of relief. 12 hours!! not coughing? hashtag still not coughing?! mucinex dm gives you 12 hours of relief from chest

and my very dear friend jared bernstein, he's an old friend of mine, he was out there saying they'vets to raise taxes. i mean, i ask you, retail sales, industrial production, manufacturing, housing, they're all coming down -- charles: to your point, they're coming down fast. >> have a big tax hike, isn't that a great idea? really. charles: i want to play a sound bite was when -- because when i heard in this, i thought about you. mayor lori lightfoot has a solution to street crime. take a listen. >> in little village working with those street vendors, understanding what the nature of the crime is, making sure that we're doing things in concert with them to help them make sure that their money is secure, not use money if at all possible. charles: is so no more. let's not use cash for anything. i get worried about this. i know that this government, certain people in this government want us on a digital sort of system where they can monitor us. in china heavy got the same system, and if you're not the right kind of person, you can't buy a home because your social credit score's attached.

. >> martha: jared bernstein joins me now. good to have you with us, sir. welcome this afternoon. >> thank you. >> martha: you said in december that recession is not inevitable. we hear from alan greenspan and j.p. morgan that they think it is inevitable. have you changed your mind? >> no. i like where i am on that over under better than where they are. we're talking about an unemployment rate of 3.5%. that is close to a 50-year low. we're looking at job gains in december, the president's second year in office. 4.5 million. that's the second highest year of job gains. >> martha: that was after a pandemic that saw millions of jobs lost. so you would expect that. >> right. but the numbers that i'm giving you, martha, are wholly inconsistent with a recessionary call in near time. if you look at gdp growth rates, they've been positive over the second half of the year. if you look at consumer spending, household balance sheets, a lot of strength in this economy. a lot of momentum. if you think about our 2023 agenda, implementing the infrastructure law, the infla

tom: jared bernstein with the white house.d really sane voice on financial matters on hydrocarbons. right now a large hydrocarbon company reports. fortress worth. lisa: chevron after saying they are going to buy back $75 billion of shares today, adjusted earnings-per-share, four dollars and nine cents. you do see a move marginally lower, 42 basis points lower after yesterday's nearly five percent gain. perhaps this is a story of share buybacks exceeding any sort of slight disappointment at a time when fuel feels in the forefront. tom: we are going to get to amrita sen and a moment, what upstream is the romance of going across the horizon and going out and finding a marginal arrow. 5.5 billion large, and you prepare that -- compare that with downstream, which is like getting into your tank. that gives you the big oil balance between upstream and downstream. lisa: but this also really complicates the message for the white house. the white house got angry with chevron. saying, how can you invest in share buybacks? you should be i

jared bernstein is a member of the white house council of economic advisers. coming, up an important story and the pennsylvania state legislature the need to know about because republicans are once again pulling some shenanigans there. joel mcclinton joins us next. joins us next (cheering) love a bit of sand. expedia tracks the price of your flight, and lets you know when it's best to book. so you can go see more of all the world's sand. sometimes, the lows of bipolar depression feel darkest before dawn. with caplyta, there's a chance to let the light shine through. and light tomorrow, with the hope from today. this is a chance to let in the lyte. caplyta is a once-daily pill that is proven to deliver significant relief across bipolar depression. unlike some medicines that only treat bipolar i, caplyta treats both bipolar i and bipolar ii depression. and in clinical trials, movement disorders and weight gain were not common. call your doctor about sudden mood changes, behaviors, or suicidal thoughts. antidepressants may increase these risks in young adults. el