looking to punish oil and gas companies that are unfit fairly raising prices at the pump. the hope this will dampen the republican narrative on inflation. how effective is that? i do not think voters will mind. voters don t mind political leaders go i after rich corporations price gouging, in a sense. we know from a lead in documents and memos that this is what they are doing. i think democrats should be smart to target them. i do not think they will get pushback from voters, including swing voters, those that they will need. i want to touch a bit on inflation. economic forecasts indicate that there is a one and three odds of there being a recession within 12 to 18 months. we know that this is likely going to have to increase hikes. the hike rate, looking at history, will lead to a recession. this is not what president biden wants, and what democrats
a lot of it was driven by the comments that we heard during the day and it was sethed that the february hike rate was less compelling. we should not pay too much attention or over react and that he would continue to look at the data and we will be getting the report on the u.s. job monthly report out next week. that could have a bit more factor into when they decide to raise the first rate hike. it s looking less likely for september, and markets did that. we saw the dow jones cheer up and finally some good news out of china and the shanghai breaking a six session losing streak and rallies for five percent today. they came in and saying that they were going to cut the interest rates. it was not until today that we saw the good news carry on.
sank to a new all-time low on wednesday despite news the country had finally stopped radioactive water from one of its nuclear reactors from leaking into the pacific ocean. we ll have more on that. meanwhile markets were higher around the rest of the region. traders in shanghai and hong kong returned from a public holiday. banking and insurance stocks were higher there, and rising gold and metals prices helped lift mining stocks in sydney. china s new higher stocks take effect this evening. they announced they would raise their lending rate to 6.3%. it also announced the same hike rate for deposit rates which are now at 3.25%. the move marks the fourth time that beijing has attacked the region. he s got the details on how world markets are reacting and a