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Detailed text transcripts for TV channel - CNN - 20180502:09:49:00

we ll check on cnn money, smart alec. president trump rode into office promising higher growth and faster wages. no question the economy is strong. the jobless rate near a 17-year low. wages ticking up. stock market up 30% since the election. for nearly a decade now, americans have benefited from cheap loans, low prices, and a soaring stock market. market pros say nine years into the bull market, the sands are shifting. the federal reserve is raising interest rates which means more expensive auto loans and mortgages. the benchmark mortgage rate at a four-year high and rising. americans paying more for things they like to buy like gas. gas prices this summer are expected to be the high nest four years. highest in four years. for those who own stocks, the s&p 500 is flat for the year. the timing is fascinating. higher gas prices and mortgage rates just as americans head to the polls in fall. what tell mean for the midterm elections? there s no way to know yet. another wrinkle here

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