let's get to the recession debate joining us is mark zandy and ken rogoff mark, you have been saying it's not a recession with the employment picture so strong we got further of that today so where do you stand right now? negative growth and strong employment how does that add up >> well, recession risks are high, no doubt high inflation, higher interest rate world, recession risks are elevated but, you know, with some reasonably good policy-making by the fed and a little bitof luc on the pandemic and the fallout from the russian invasion of ukraine, i think we'll be able to navigate through without a recession. the key is in fact the job market, the american consumer. the firewall, so to speak, between a continuing, expanding economy and the recession is the american consumer. as long as we're creating jobs, unemployment is low, excess saving, debt service is low. despite this decline in the stock market, house prices are up, wealth is high i think that firewall should remain in place, consumers should keep spending and we should be able to navigate through without a downturn. >> ke

jonathan: ken rogoff touching on the heart of the issue right now for many countries, many economiesncluding europe. the euro has been a lot weaker through this year. today some dollar weakness in euro strength. euro-dollar 1.0 264, positive more than 1%. fruit down 2%, just about holding on to 100, $100 point -- $100.55. in about an hour we will have housing starts and building permits for june. it is netflix after the close later. tom: curve inversion pretty static. pre-much where we were yesterday. it is tuesday, two days from the ecb. emily wilkins is focused on one of the most interesting states from east to west. maryland is different, from the pennsylvania border to the evils of washington, maryland is different. what is so different is a republican state that isn't. it is fascinating how big it was for joe biden and yet republicans are involved in the debate. what does that say of the uniqueness of these votes today? emily: part of it, look at what governor larry hogan, his popularity in the state, he has consistently pointed to the type of republican a lot of democrats can g

my name is ken rogoff.i'm a professor at harvard university and i'm here today to speak to our glenn hubbard who i'm going to call glenn who's written this extremely brave and interesting book called the brit the wall and the bridge. it's just published by yale university

my name is ken rogoff. i'm a professor at harvard university and i'm here today to speak to our glenn hubbard who i'm going to call glenn who's written this extremely brave and interesting book called the brit the wall and the bridge. it's just published by yale university, press in 19 in 2022. and professor hubbard takes us through really what globalizations done in ripping apart american policy and politics and how to bring it back together and he points to really these wall things that have come up. i don't think he quite meant trump's border wall, but rather protectionism things to try to block ourselves off to try to restrict trade to restrict people's choice and on the other hand having to recognize that it's very disruptive when technology moves fast globalization moves fast and his his metaphor the bridge is we need to find ways to get people from one place to another we are not going to stop the world from changing. something that's you know, all too painfully a parent and the geopolitics today. i'

maria: all right ken we will be watching great to see you as always please come back soon, kenneth rogofformer sec officials and why they say companies are threatened by pollution. next. . . ♪ ♪ ♪ ♪ ♪ ♪ the new gmc sierra. premium and capable. that's professional grade. >>> >>> . maria: welcome back. pushing back on the climate change agenda. former leaders of the securities and exchange commission saying the administration new climate rules will cause political pollution. within corporate sphere former sec commissioner paul atkins here great to see you. thanks very much for being here, as you know, the securities and exchange commission has come out with new rules, for all public companies to follow, to -- identify specific risks they face their colleagues face their customers face any other business that does business with those companies, tell me about those climate rules why you think this is the wrongheaded move. >> well, thank you maria it is great to be here one thing i should say, the rules are not final yet, and teller -- the proposal stage important to pay attention now, and to