believe it or not, there s a lot of people in the second camp. you hear them complain that wages are rising too fast among the middle class and working class people. who have endured decades of a stalled income. their view of the economy says the only solution to our current future challenges is to make the working families that are the backbone in our country poorer or keep them in the state they re in. it s a pessimistic vision. i reject it. i reject the idea that we should somehow punish people because they finally have a little more breathing room. america doesn t need to settle for less. we need an economy that has the capacity to generate more growth, more jobs, and more opportunity for all americans. that s how we re going to keep doing everything we can to unstick the bottle necks that are keeping goods from getting to consumers. two, build better infrastructure
were prepandemic. in a healthy place. that doesn t mean there s logistical challenges at the bottle necks that may be localized and to the degree that we work with private sector companies and help ease the challenges in their private sector supply chain will remain hop to doing that. one question on the global challenge. can you talk about how much you believe china s latest rounds of lock downs and zero case doctrine is having an impact on inflation since onlily it s i m pocketing the global manufacturing and has the administration had any conversations with china about the factory workers, about the lockdown? there s no question that the global nature of the pandemic affects the flow of goods across economies. one of the things that yes did earlier this fall is actually
had these bottle necks. so i think heading into this first and second quarter we ll see the consumer using the strong balance sheet, continuing strong demand, likely put the latest covid variant in the rear view mirror that burns itself out in january. we ll focus on the fact that we have overdone it in markets because we re overreacting in a knee jerk fashion on the ten-year yield. neil: thanks very much. art referring to the ten year note a popular trading instrument. the federal reserve cannot control this rate but can set the tone to the market. the fear that rate goes higher weighed on stocks today. one day. pretty early in the year here. something that a lot of people didn t expect. they knew rates were rising, knew we could see several rate hikeses. they weren t prepared for this. we re all over that. as art said, what is happening on the covid front, the omicron
economic competitiveness and our national security. let s do it for the cities and towns all across america working to get their piece of the global economic package. let s do it for the dignity and pride of this country and the american worker. i made clear while i was running for president, and from day one of this administration, we are going to invest in america. we re investing in american workers. we re going to stamp everything we can, made in america. especially these computer chips. vice president harris and i along with secretary monodo and our team have met with congress and both parties because this is a bipartisan issue. we brought business and labor together to see where we could ramp up production and help resolve bottle necks. soon after i was sworn in, i signed an executive order to revitalize american manufacturing and making our supply chains more resilient to disruptions whether it s a pandemic, climate change, or
i never make predictions especially about the future. i hope that we can come together by the way, the bipartisan infrastructure bill that republicans and democrats came on is going to be so important for dealing with inflation because we can direct the short term spending to independent wind the bottle necks and create supply chain disruptions. congressman, thanks for coming on. happy new year. jackie: fair and balanced. we want to get the require from new york congress woman, nicole mallatakis. yeah, he didn t name off of the stuff in the bill that is awful. expanding the irs to go after regular people, minute that makes a transaction over $600. think about the amnesty