host: mike konczal is our guest. we are talking about inflation and the potential for recession in the economy. we welcome your calls. for democrats, (202) 748-8000. for republicans, (202) 748-8001. for independents and others, (202) 748-8002. housing costs are said to keep inflation elevated this year, creating another challenge for the federal reserve, who want to see signs price pressures are easing before slowing their interest rate increase. what's keeping those prices high as home mortgage rates climb as well? guest: the way they record housing has a bit of a delay to it. they need to figure out how much that is valued. so there is a bit of a lag. we know housing prices are coming down, where the federal l reserves rate hikes have the most impact. they have probably seen closing prices have gone down a bit in their neighborhood, so that market is definitely cooling. that's where we will see the federal reserve's actions most quickly. that disconnect will go up a little more, but those prices are starting to com

. >> host: mike konczal is our guest and we are talking about inflation numbers that more broadly the u.s. economy. we welcome your calls and comments (202)748-8000 and for democrats to line for republicans to his 027-48-8001 and independents (202)748-8002. housing is likely to fuel inflation figures. housing costs are set to keep inflation elevateded this year creating another challenge for the federal reserve. theve price pressures are easing before slowing their interest-rate increase. what is keeping is high our mortgage rates climbed as well. >> guest: the way the federal reserve record inflation and housing is a complicated thing because they need to figure out a way for people who own their own homes on how much value to add to that. we do know that housing prices are coming down. this is where the federal reserve's rate hikes have had the most effect. mortgage rates at gone up and wasting the closing prices have gone down. that market is cooling and that's where we will see the federal reserve with a disconnect there is going to go more but the prices are starting to come down

meanwhile, analyst mike konczal has good news if you can look past the inflation thing. >> the economyill very strong. spending is still very strong. job growth is still increasingly high. with unemployment at 3.5%, this is probably the best labor market we've had in 60 or 70 years. >> reporter: now we just have to fix the inflation. >> do you want to pay cash or card? >> reporter: for ice cream entrepreneur petrushka bazin larsen, that day won't come soon enough. >> we are hopeful it's topical and at the end of this we'll be stronger because of it. when you have technology that's easier to control... that can scale across all your clouds... we got that right? yeah, we got that. it's easier to be an innovator. so you can do more incredible things. [whistling] ♪ ♪ my name's caleb. what's yours? i'm grace! did you just move here? yeah! cool! we r really had d our hands sl with ourur two-year-r-old. yeyeah, so nataturally, wewe dd downwn with a nenew puppy. sure, , they're twtwice as cute e together,, bubut now we'v've got doublele the stainins and d double thehe odors. thanankfully, wewe