joining me now is white house economics reporter for the washington post, personal work that story, jeff steinwelcome to the sunday. show >> thanks for having me. >> okay, what is fueling the strong gdp number announcements in congress this week? >> the big thing we saw in this recent report that we really weren't expecting was a huge surge in business investment. which contracted the previous quarter. we've seen a steady decline in american can serum arrested him and spending less as we pull out of the pandemic. and the excess savings that were built up from the money that the government pushed down has declined. business investments, that's talking about factories being built and plants being built in transportation equipment. it is also urging. a lot of it is being powered by biden's legislative initiatives that were passed through congress. the chips act we are seeing an explosion. semiconductor manufacturing being built. infrastructure. across the country's being repaired. part of the biggest thing yet for the planet is this explosion of climate. investment in green energy plans. spent so

so i wrote the story in 2019 jeff stein published an article in newsweek on new donald trump sanctions against carl lee and on the authorities. cold fury with the chinese government. they said to me, this is just to start these, these sanctions. we're going to do more. we're going to really teach china a lesson with way far away. at about the same time, a member of the trump administration began denouncing lee phone way alias carl lee and china is government. on twitter. it was the assistant secretary of state at the time. christopher, for the lease, on the way, was for a long time the perhaps the most notorious of the proliferation traffickers in china and nothing ultimately was done and continued to be a problem for a very long time. when i was in government, we stepped up that pressure on china trying to get them to pay more attention to it . the trump administration started ramping up the pressure on both china and iran at the same time. the latter country was the responsibility of brian hook, a hard liner and close presidential confidant. he was us special representative for iran

i think that biden has moved with white house officials, including jeff steins, the white house chiefddle. he did go to the border after the house flipped to the republicans, that was not a coincidence and signed a d.c. crime bill. but signs that they know this is a tough race to win. david: charlie, what are your folks in the financial community tell you about whether or not we're going to have recession before? if we have a recession in the election year, that's got to hurt biden even more, right? >> yeah, and i said two years, i mean next year is the election year and that's when the recession could come. here is what they're telling me. inflation is still sticky. that means that we had larry fink on fox business you know, he's a democrat as you know, he runs blackrock. i believe four more rate hikes are in order. david: that makes us closer to recession, possibly. >> you know, there's a lot of -- there's a lot of stuff out there. people -- there's so much money sloshing around in the economy because of all they spent post covid, during covid and post-covid you have sticky inflatio

plus, washington post white house economic reporter, jeff stein, joins me to talk about how inflation administration and republican messaging on the economy. that is tomorrow at nine a.m., right here on msnbc. remember, follow us on twitter, instagram and tiktok. using the handle at we can keep part. don't go anywhere. my friend ali velshi is next with more news. xt with more news with more news (wheezing) asthma isn't pretty. it's the moment when you realize that a good day... is about to become a bad one. but then, i remembered that the world is so much bigger than that, with trelegy. because one dose a day helps keep my asthma symptoms under control. and with 3 medicines in 1 inhaler, trelegy helps improve lung function so i can breathe easier for a full 24 hours. trelegy won't replace a rescue inhaler for sudden breathing problems. trelegy contains a medicine that increases risk of hospitalizations and death from asthma problems when used alone. when this medicine is used with an inhaled corticosteroid, like in trelegy, there is not a significant increased risk of these events. do

the washington post jeff stein points out, quote, these developments have led republican analysts toussions about whether, or how the party should adjust its attacks on biden, to account for this new economic reality, end quote. simply put, the american economy is strong right now. but to president biden's early point, the job isn't done yet. there is, in fact, still a lot more work to do on this economy. and joining me now to break down, as we always do, the good, that, and the ugly parts of the economy, my great friend caleb silver, the editor in chief at investopedia. caleb, good to see you. this is good stuff that i talked about, right? you and i have been in this business for a long time together, where really rarely do you see this kind of stuff coming together. >> this is really good news, and we should be celebrating that. you mentioned the stock market, stock market, half of americans are not as investing -- and the wealth effect makes us feel better about spending and we are doing a lot of spending, consumer spending is very strong, consumer sentiment very strong. they can