if victor obama thinks he can do whatever he wants. well feel, i can tell you that there is a lot of anger high, especially among e u invoice, our who feel at that the hungarians are effectively being given too much in a sense. or we know that, for example, the, the ambassador of france who was cheering the meeting yesterday we hungry ab voiced . it's her opposition to, to this black listing of this se, senior cleary. and was really frustrated saying it that kind of change could not be made at the stage in the game, but it appears they are, are seeking to press on with this to go forward to this than guarantee clearly dug in their heels and were not willing to compromise on that because these sanctions need to add an agreement, consensus agreement from all of the members state. so if the hungarians were going to be digging in their heels on this, this package could not go through. so am i remember listening to the lithuanian foreign minister a few weeks ago talking about being held hostage a by, by hungry. and that is that, that the fe

victor. >> arlette saenz for us, thank you. >> here to discuss, former chairman of the white house council of economic advisers under president obamagood to have you back. let's start with this assertion from the president that recession is not inevitable. a few things are inevitable. but do you expect that it is very likely, unlikely over the next 18 months, what's your assessment? >> well, i think he's right. it's definitely not inevitable, and if we got positive news, say, on the virus or if the war did not continue to get worse, we might get some beneficial supply shocks of the opposite form that we've been taking blows for the last two years on supply chain getting deeply messed up, and driving prices up. that said, when the fed is raising rates and raising them at this kind of speed, you know, fastest rate of increase in a number of decades, you always got to be thinking about the possibility of recession. the majority of the recessions in the united states have been caused by the fed raising interest rates faster than the economy can handle, so you definitely shouldn't rule it out. i don't know that it's more likely than not

victor. >> yeah, we'll see how the white house navigates that exchange. mj lee for us at the white house, thank you very much. >>> joining us now is betsy stevenson, a former member of president obama's white house council of economic advisors, and she's a former chief economist for the labor department. also with us is michelle single terry, syndicated personal fitness columnist for the "washington post" and author of "what to do with your money when crisis hits: a survival guide." we need the guide now, michelle. betsy, good to see both of you. betsy, let me start with you. last month, jay powell said that 75 basis points, increasing the interest rates by 0.75% was not something that was actively considered. what's your expectation now and would that be enough to slow inflation? >> well, i think what jay powell has said is that he's going to read the data, and that they are going to react to the news they get and they did get some news that inflation was much higher than i think people expected in this latest read. a lot of people have talked about inflation being stubborn or not going away. i think the real concern is that it's actually spilling into services, which has really so