a mistake there and the fed has to stop >> ron insana. >> insana conferences in las vegas. >> did i just -- i just gave - >> yeah. >> she was at a gaming conference i was at a financial conference. >> guess which one was more fun. >> well no, i had a great time, actually i lost a couple hundred but -- >> i walked away a winner and tripled my money ron insana, i -- listen i cover gambling as a sector i should know something about it. >> next week again. >> let's talk. >> we digress. speaking of falling price, pretty dramatic declines in food commodities, increased costs what are you seeing? >> this week's cpi and ppi readings both showed that food costs remain stubbornly high if we take a step back and look both longer term and on a granular level, you can see the commodity costs specifically are trending lower according to data from bernstein during the third quarter prices for beef and pork fell year over year coffee, milk, wheat and cheese do remain elevated, but they are starting to come down. now this is notable because surging input costs have been a major headwind for restaurant co

bring in ron insana senior adviser to schroeder's, and it is good to see you. >> thank you. >> good news on the gdp. maybe not awesome news on mortgage rates, right? how should we be thinking about the economy right now? especially when it comes to this concern about, are we in a recession, are we going to hit a recession, if we do, is it going to be really bad or just mildly bad? >> almost when i answer yes to all of those questions, we're not in a recession right now, the unemployment rate is at 3.5%. and employers are still struggling to find workers, which is more typical of an economy that is growing. however, as you mentioned, with mortgage rates as high as they are, the highest since about 2001, real estate itself is in recession. and the gdp numbers, as you say, rebounded from two negative quarters earlier in the year, and it was good news inside that report, on the inflation front, where inflation has cooled considerably, by at least one measure. however, as you indicate, some forward-looking indicators suggest a recession may be on the horizon, particularly if the federal reser

statement when it meets next let's talk about this and more with cnbc's senior analyst and commentator ron insanacome. >> thank you. >> you are welcome. >> appreciate that. >> always glad to have you here. you're not expecting the fed to pause on tuesday. >> no. >> are you expecting rhetorical change or what >> i wrote this piece to rebut one notion going around yesterday that the fed would include pivoting in its language next week. i would imagine the fed could hold out the possibility of a pause, stop look and listen, maybe guide to another half and quarter point hike down the road as expected, with a nod to the notion that we're starting to see inflation roll over. i mean, when you look at most of the inflation data, they peaked in june. some of the core data a little stickier because housing prices and rents haven't been fully reflected in that nor have the leveling out and wage increases, but i think they might hint at a pause. not remotely yet at a pivot. >> yeah. go ahead. >> you know it's interesting because i was listening to chubs' earnings call this week which were pretty impressive e

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