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Transcripts for MSNBC The Sunday Show With Jonathan Capehart 20240604 14:31:00

exactly as you say, their goal is to prevent a recession but they can cause a recession. so then given the 0.7 5% raise in the interest rates, do you think the fed has gone too far? it is indeed. now ray some cells are still very low, by historic terms. and i don t think there s anything wrong with kind of moving interest rates back to around the levels they were before covid. as covid drifts away, especially in this context that we ve had, high inflation. but if they keep raising 75 basis points as they call it, even a full percentage point at each meeting. there is definitely danger that in the face of, we ve got fiscal drag as we call it, that we had a big amount of spending

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Transcripts for MSNBC The Sunday Show With Jonathan Capehart 20240604 14:32:00

the last year. but everything s all about compared to the previous year. so we had plus two chilling last, year that becomes minus two trillion this year. so the fed is definitely going to watch how hard they slam on that break. and if we start to see over the next three months, in the data, that the core inflation, not counting gas prices and food prices, which are heavily affected by the war, but the inflation of everything else. if it starts coming down and we get relief, that would be a great sign that the fed maybe can navigate not having a recession. if we don t see any relief in that i, kind of think we re going to be calling up the ghost of paul volker and the fed is gonna be thinking they got a raise interest rate a whole lot and then it would be quite likely we had a recession. austin, let me get you on one more thing before i let you go. on the front page of the washington post this morning, there s a story about how people are pulling back on

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Transcripts for MSNBC The Sunday Show With Jonathan Capehart 20240604 14:29:00

to stay optimistic. he told the associated press that a recession is, quote, not inevitable. that maybe, but americans are already feeling the pain. earlier i spoke with austin goolsbee, former chairman of the council of economic advisers for president obama. and professor at the university of chicago, booth school of business. austin, thank you very much for coming to the sunday show. thank you for having me back. all right. so. will the interest rate hike works in tamping down inflation? maybe. maybe not. i mean, it depends how much of the inflation you think is coming from supply disruptions and how much from demand? it s important to remember, the only instrument the fed has, it just has a hammer. and that hammer is, it can reduce the demand of parts of the economy that are interest rates sensitive. like housing, like buying of cars, buying consumer durables.

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Bloomberg Editors Avoid Blaming Biden, Fed for Pushing Economy to Razor s Edge on Inflation

The Bloomberg Opinion Editorial Board had a bit of a red pill moment on how bad the inflation crisis actually is, but didn’t lay any blame at the feet of President Joe Biden and the Federal Reserve.

United statesChristopher leonardJoe bidenHeritage foundationFederal reserveBloomberg opinion editorial boardPresident joe bidenFed hasNarrow path between inflationBiden white houseEditorial boardBanks got

Bloomberg Editors Avoid Blaming Biden, Fed for Pushing Economy to Razor s Edge on Inflation

Bloomberg Editors Avoid Blaming Biden, Fed for Pushing Economy to Razor s Edge on Inflation
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United statesChristopher leonardJoe bidenHeritage foundationFederal reserveBloomberg opinion editorial boardPresident joe bidenFed hasNarrow path between inflationBiden white houseEditorial boardBanks got