nfib has supported the gas tax holidays. it seems like it has not caught fire.e realize there would be some longer term consequences of suspending the gas tax, but it is something our members would be open to. host: let's get to calls. james in boston. you are calling about small businesses in the country? caller: yes, good morning. i have a question. he said he was looking at small businesses all over. a small business is 8 people or less. what states are you looking at? you hear that a lot in the news, but you never say specifics. small businesses as a whole -- what is his paycheck compared to someone within the small business communities? i'm just curious. how can you say you are looking out for small businesses when his tax bracket is way different than those in those neighborhoods? host: kevin kuhlman? guest: our members are in all 50 states. we represent members in all 50 states and in every community. it is difficult to represent 50% of the economy. the small business owners of every different size, but we speak to our members every day, so we hear from t

nfib has supported the gas tax holidays. it seems like it has not caught fire.realize there would be some longer term consequences of suspending the gas tax, but it is something our members would be open to. host: let's get to calls. james in boston. you are calling about small businesses in the country? caller: yes, good morning. i have a question. he said he was looking at small businesses all over. a small business is 8 people or less. what states are you looking at? you hear that a lot in the news, but you never say specifics. small businesses as a whole -- what is his paycheck compared to someone within the small business communities? i'm just curious. how can you say you are looking out for small businesses when his tax bracket is way different than those in those neighborhoods? host: kevin kuhlman? guest: our members are in all 50 states. we represent members in all 50 states and in every community. it is difficult to represent 50% of the economy. the small business owners of every different size, but we speak to our members every day, so we hear from the

you also see that in the nfib. it doesn't quite show up in the data but we are hearing a lot about information and seeing it in surveys that there is some balancing of supply and demand that chair powell talked about. we will look at the report today, but i expect another gain in labor force participation, expect a cooling in labor demand. we see that in the ism surveys. people are nearing their staffing goals and now they are nervous about the outlook. we should see numbers. 350 is an extremely strong number. we are at 340 today but i would fully expect numbers closer to the 200,000. lisa: do you think the fed can be data-dependent when fed chair jay powell basically locked in the progression of rate hikes at 50 basis points over the next three sessions? julia: i think what chair powell expressed is enough confidence that the job market is strong enough, labor demand is strong enough that we can get two more 50 basis point rate they need to even consider slowing down or taking a look around. that just speaks to ho

charles: so the nfib, small business optimism index, die creased by 2.4% as 31% of owners reported thatortant problem in their business. in fact that is the highest read since the first quarter of 1981. inflation has now replaced labor quality as the number one problem. here in new york city, i got to tell you it is even more difficult for business owners. covid-19 restrictions have taken a serious toll. the people are not going back to work. trains are relatively empty and it is still somewhat of a ghost town. so i had great conversations with my next guest who just opened recently opened a wine store. he is co-owner of franklin sellers, he joins me in studio now. franklin, tell us about your business. elliot. >> we're a wine and spirit shop. charles: elliot, is the business. >> we're in bed sty brooklyn. charles: that is hot neighborhood. before covid that was one of the fastest growing hot neighborhoods in the city. >> extremely. you take a lot of individuals who left new york, left the area. it is getting very pricey for individuals to live there. so there is a lot of people moving

we see that and the nfib report on small business this week you see that another surveys. want to hire. we do need to encourage more people to work. let's hope the labor force gets bigger. i think they're good things happening in the economy consumers are still spending despite that inflation on everything they are purchasing. it is not foretold we have to hit a recession now. but he is absolutely right, the fed has no choice but to deal with the inflation they have allowed to rage to this 40 year high. he has a job to do and he's got to do it. >> administration is considering some form of college loan forgiveness. how much of an impact you think that could have on inflation? >> at the martian margins going to be inflationary. it is doing nothing to encourage people to work more, to create more, to supply more. people have talked about it's a give away often from middle-class and a lower income folks, taxpayers to the affluent. it is a bad policy lots of reasons. it's funny, a year or two ago it's not softening, democrats were pushing it essentially as a way to juices spen

charles: your sentiments echoed the nfib report this morning.ix month expectation dropped to an all-time low. david, a lot of folks shifted to value stocks and they have done better. they have not soared but they have done better. obviously down a lot less than growth. looking for a nice comparison, plan net fitness and peloton. that makes a case study. planet fitness down 20%. peloton down 90%. maybe not necessarily for me about being in value stocks but how excessively overvalued the hot stocks were. if that is the case, how do you judge what to get back in and when to get back in. >> i think you just said it. look at planet fitness, income statement and balance sheet, this company has real profits, even though it's a little bit expensive it has some valuation report. on the other side of that is peloton, falling sales, big losses, even a statement in the most recent report you have to question whether or not they can even be a going concern. it is not enough to just grow your top line hand over fist. that is so of what they have done. this is

you saw the nfib this morning, stu. stuart: yup.selling prices 70 on the index, it was 36 a year ago. firms planning to raise prices 46 on the index, it was 36 a year ago. i mean, come on. many people did it. take energy out. take energy out of the c p i. you still have 6.5% inflation. stuart: exactly. the president's plan may work long term. i don't think it does work at all. he hopes it'll work long term. it will do absolutely nothing am i right in saying this , it will do absolutely nothing to bring the level of inflation down before the elections in november does nothing for that at all. am i right? larry: well, i'm sure you're right. which plan are you referring to? he doesn't have a plan. stuart: is he announcing it at 11:30 this morning subsidies for drug prescription prices, child care, this , that and the other, massive spending. the plan comes out this morning. couple of hours from now. i don't think it works and it won't do anything for inflation in november of this year. last word to you. larry: well i'm not all that exc