The “Delivering for America” program aimed ultimately to privatize the USPS is step by step implementing devastating cuts in postal workers’ pay and working conditions.
years ago, neil a lot of bank mergers. maybe that will come back. neil: all right. it would take hundreds, thousands of them to get us back to those kind of numbers you were talking about. that could be a pretty rough adjustment process. what do you think? and a long process. no question about it. i don t think the feds are about to force banks out of business. i think the question is, we don t need 5,000 banks. neil: when we have another big one or another big medium sized one, maybe not of the republic size, should the feds just back off and said, you know, no? i think that you have to add a point in time not allow the panic to dictate the solution. it s got to be something that is more thought out, have to be incentives for that to happen and our system at the moment doesn t have that, neil. we ve got to get to that point.
slows, and that painful adjustment process, as painful as it, is allows the economy to come back into balance, and then inflation comes down. nobody disputes the idea that this is going to be a unpleasant process. but officials think they hope that it won t be horribly painful. but it probably is going to incur some amount of economic damage. what i tease for the segment, as well it is the new report of your colleagues at the new york times this week which says that food prices soar, and so do companies profits. they write, some companies restaurants have continued to raise prices on consumers even after their own inflation related costs has been covered. is this evidence that there is much more than just market forces at play? i will point to consumers stop tolerating the price increases? i actually think this is evidence. this is a consistent trend that we ve seen across actors. it s not just food, but we ve seen it in the auto market has
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in a bear market. people say what does that mean. the fed is looking at it used to be a quarter point. would it be a half point? some say .75. they do that to slow an overheating economy. what is that going to mean for average americans? i think what it s going to mean for average americans is that the economy is going to slow a lot more abruptly than we previously thought it was going to. and so if you are thinking about that from your typical household point of view, it means that money pretty quickly becomes a lot more expensive to borrow. we ve seen mortgage prices move up a lot. it s harder to buy a house. that means more people are renting. rent prices may go up for a while. for a period during this transition, the labor market might slow and wage growth might cool before inflation falls. we could be in for a couple tough months or quarters or a year or two as we get through the adjustment process. it s a bleak outlook ahead for consumers. gina of the new york times,