kelsey berro, matthew hornbach, jim bianco still with me.t, how important is another data point that is the u.s. payrolls? matthew: it is very important. i think it is probably the make or break between 75 and 50 personally. obviously the cpi report is also important, but the reality is the underlying strength of the economy shows up in the payrolls numbers and if the payrolls number and strong again, what that is telling the fed is they've got to really worry about underlying inflationary pressures through the filler curve framework and that is something i think will resonate with them and could very well make the difference between 50 and 75 in the market i as well. taylor: are you looking at the payrolls as the difference between 75 -- 50 or 75 in september? jim: i agree with matt. it is a bad news is good new scenario. 70 of the last -- 70 of the last 80 months, consensus was beaten. if we see the pattern of strong payrolls, the market will price in 75 right away. that is the bad news -- good news would be bad news for risk markets. so t

jim bianco will weigh in on that. and later i'm diving into the surprising places where student loan borrowers are spending their money even though they're going to get paid, your taxpayers dollars to cover their own loans. we'll be right back ♪. ♪ ♪ ♪ ♪ ♪ ♪ ta skli rerouesesrcs iadre yto om dinate - with two fully permitd teresource assets; an upcoming maiden resource at its flagship gold project in southern b.c.; and a vast pipeline of world class greenfields projects. talisker resources. every search you make, every click you take, every move you make, every step you take, i'll be watching you. the internet doesn't have to be duckduckgo is a free all in one privacy app with a built in search engine, web browser, one click data clearing and more stop companies like google from watching you, by downloading the app today. duckduckgo: privacy, simplified. charles: all right, folks, right now it's a tossup. take a look at this. cme fed watch sees next fed hike. 50 basis points here, yellow and yellow, 50 basis points he

we have bianco research president jim bianco.o some of these numbers. 100 billion, 800 billion, golly. the fact of the matter we're looking at another trillion dollars of federal government spending at a time when the fed is trying to take down inflation. it just doesn't make sense, does it. >> no it doesn't because why does the fed raise rates? they want to curtail spending. want us to spend less money so the price of goods come down. remember inflation impacts 100% of the population. so what are we doing? we're giving a certain segment of people, people with college debt 10 or $20,000. presumably what will they do with it? spend it on things or put it in a brokerage account and buy stocks. that is, and that is exactly what the fed's trying to curtail. we call it financial conditions. they don't want stocks to go up. people feel rich, run to the mall, spending money because that just drives up prices. charles: of course the big debate from wall street's perspective investors is how much the s&p 500 returns, depending how deep of

i want to pick up on that point from jim bianco following the labor market closely. etting and nervous about their jocks. news like this just seems to bring it home, doesn't it? >> yeah, it does and also you've got to throw in there too we're in a post-pandemic economy. the job market is very different than it is, and you could see that because on the face of it, people shouldn't be worried about their jobs. there are more open jobs right now than there are workers in the united states. it's a statistic that jay powell likes to cite, but yet in uneasiness about the post-pandemic economy has everybody on edge, especially when it comes to work. neil: so, jim, there's still a lot of workers who are very reluctant about many of them with the work force returning to the work force, they don't see a need. that's a pocket of folks, but close to 11 million of them in that position right now. so what is the real condition of the labor market as you see it? >> i think that there's a push/pull when it comes to work from home. this is a real thing, and it isn't going away. i thin

to start the show, bianco president jim bianco. you think the inflation fight will come up short. guess you haven't heard about the inflation reduction act? >> i haven't heard about it because it won't do so much. spending the next 10 years is not a way to reduce inflation. unless you think 87,000 irs agents crushing the economy is way to get inflation down. that is possibly one way they can do it. around the edges there might be some things, negotiating prescription drugs and stuff but that is not going to bring down core cpi or the cpi rate. as a matter of fact the, a lot of wall street analysts including goldman sachs this thing will do virtually nothing for the inflation rate. charles: i was actually being facetious about it. honestly it is ridiculous, right? let's talk about who is probably at the forefront of this, the federal reserve. there is scuttlebutt, we'll know more after the cpi though, that the next rate hike could be 100 basis points. where do you see this fed going? >> i think this fed is worried about inflation and i think they're committed to the inflation fight

jim bianco, art laffer, danielle dimartino booth, plus market all-stars including gary k, phil blancato

jim baker, lisa page, peter strzok, stephen semi, joe bianco, kevin clinesmith, brian otten, tim tebowhen you said the doj says they don't need a special master to review this, just trust us, we will review it ourselves with the fbi, you know it? i'm going to take a hard pass on that because we trusted you in the past and you told us that it was a pp tape, russian collusion, and a dnc hack, and you have backed up none of that. so give them a big zero on the credibility scale. >> brian: and let's talk about the lives they ruined. remember when they put papadapoulos into jail, man manafort, and he's going to have a hearing even today. so you have all his cfo of the company, and these investigations have been nonstop. then you have tebow today, whistle-blowers and the fbi blew the whistle on him, he had been set aside, "i'm going to retire," he gets walked out on friday, and that was the baltimore office, the investigation and suppression of the laptop. i'm pretty sure we can give him the benefit of the doubt. let's look at this raid in particular. if i am the fbi and i'm the department o