wall street, on main street, and just about everywhere in between. jeremy diamond is at the white house for us. the administration really seems to be throwing some cold water on the idea we ll be seeing progress today. reporter: brianna, they re setting expectations very low for the potential for any kind of substantive progress to come out of this meeting. white house officials tell me heading into this meeting that president biden is determined to hold the line on his view that a clean debt ceiling increase is the only way out of what he has called a manufactured crisis by republicans. on the other hand he is willing to have a discussion about spending and that s potentially where you could see developments here. the notion that white house is willing to engage on discussions about spending and perhaps we will see some kind of process set up for negotiations going forward, that is certainly one of the open questions. the white house press secretary today reiterating once again for
limited the reaction to the rising rates, and they didn t do that powell could have raised rates at a less rapid point, i guess? there s always an argument you can make, and what we are seeing are unintended consequences, if you will, for the rate policy. for the clear and present danger, politically, economically, on main street and wall street for the last six to nine months and arguably longer has been inflation all the stuff happening over the last year when people hyperscrutinized the price of gasoline and the price of eggs and everything else, for the fed it was very much about trying to contain inflation. now with regard to what happened at this bang sk and the oversight oversight will always come into question, and in the wake of the great