issue for biden to deal with. frankly, i think there's not a whole lot of hope there's much legislation of significance that's going to get through, in part because of the narrow majorities, but i think manchin will be dug in on this issue after this kind of inflation report. >> doug, take a listen to the type of thinking president biden is hearing from his economic advisers. this is a voice that will be familiar to you. >> every forecast shows that even with fed rate hikes penciled in, the unemployment rate will continue to decline this year and we should be back to full employment at the end of the year. so under this scenario, inflation comes down in the second half of the year. >> that's jared bernstein, obviously. might it be too soon to raise interest rates? could that drastically raise the cost of loans on higher priced items as new cars, mortgages with home prices already at all-time highs. >> jared should know you should never take a forecast to the bank. it's the reality on the ground that will matter to voters.
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