time for the midterm elections. white house is calling opec s decision short sighted look at alternatives to wall street to reporting the administration is preparing to ease sanctions on venezuela and its dictator nicholas in an effort to increase the supply of oil on the market. let s bring in our panel also journal columnist kempster also, editorial board members kyle peterson. so why did saudi arabia make this a judgment after all the president had gone to the country earlier this year to try to persuade the crown prince there to produce more oil. now they are going in the opposite direction, what happened? from saudi arabia s perspective you have to consider they are looking at two factors. once the long-term alliance with the united states and hopefully try to keep that altogether. but they also have to look at their bottom line. and frankly, if you look at the signal sediment coming from all corners of the economy recently it looks like a 20 a pretty major slowdown la
power. water as well. we re going to get a live update on what he ll hear and see as well. also this morning, court is in session. it s the first day of the supreme court s nine-month term with justice ketanji brown jackson making history as its newest member. the history-making docket, the justices have teed up, after their last blockbuster term. opening statements are under way in a trial involving the oath keepers. their founder and other members are the first capitol attack defendants to be tried on seditious conspiracy charges. coming up, what it could mean for future cases against january 6th rioters. we want to start though with the aftermath of hurricane ian and our reporters on the ground in hard-hit lee county where serge and rescue operations are under way. we are now into day five of the search-and-rescue mission which is currently ongoing. you ve been on the ground for the last couple of days. speaking a lot over the weekend as well. still the devastation unfat
government reported a second straight quarter of negative economic growth. so this complicated picture is why president biden is pushing back against talk of a recession. with both senator schumer and manchin. that s consistent with the transition to a stable steady growth and lower inflation, but if you look at our job market consumer spending, business investment, we see signs of economic progress in the second quarter as well. joining us now to take a closer look at this, cnbc senior economics reporter steve liesman and ben white, politico chief economic correspondent and host of the politico money podcast. steve, when you take all of this data into account, all these indexes, what does it tell you about the state of the economy right now? it tells us that for sure the economy has slowed. remember, we did like 6% growth in the fourth quarter and now we ve come off two quarters in a row. the first quarter we came off because of what was happening with inventories. thi
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power. water as well. we re going to get a live update on what he ll hear and see as well. also this morning, court is in session. it s the first day of the supreme court s nine-month term with justice ketanji brown jackson making history as its newest member. the history-making docket, the justices have teed up, after their last blockbuster term. opening statements are under way in a trial involving the oath keepers. their founder and other members are the first capitol attack defendants to be tried on seditious conspiracy charges. coming up, what it could mean for future cases against january 6th rioters. we want to start though with the aftermath of hurricane ian and our reporters on the ground in hard-hit lee county where serge and rescue operations are under way. we are now into day five of the