huge increases in their monthly mortgage payments. huge increases in their monthly mortgage payments. dipping toward is bein: done mortgage payments. dipping toward is being done for mortgage payments. dipping toward is being done for the mortgage payments. dipping toward is being done for the greater mortgage payments. dipping toward is being done for the greater good - mortgage payments. dipping toward is being done for the greater good of - being done for the greater good of the economy. the being done for the greater good of the economy- being done for the greater good of the economy. the average person in the economy. the average person in the uk or the the economy. the average person in the uk or the average the economy. the average person in the uk or the average citizen - the economy. the average person in the uk or the average citizen is - the economy. the average person in the uk or the average citizen is not. the uk or the average citizen is not an economist and s
they going to go and how are we going to know? going to know? so i think toda s going to know? so i think today s cpi going to know? so i think today s cpi number - going to know? so i think today s cpi number was l going to know? so i think - today s cpi number was mostly good news from the federal reserve s perspective, as the video before mentioned this was the 11th straight month where we have seen the price decline. this number is good for a skip not a pause. i think the fed will likely not take any action today but is more likely to at their meeting injuly. they will be looking for a continuing decline in the price level and an increase in unemployment, but there will also look at consumers, the stability of the banking system, and how raising rates will affect the market for us treasuries. will affect the market for us treasuries. they have a little bit of wiggle treasuries. they have a little bit of wiggle room. - bit of wiggle room. potentially, as you say, pausing this
price level for goods that the average person is going to purchase throughout the economy is almost 20% higher than precovid. that s a level of price increase we basically have not seen since the early 1990s and decades before that. sandra: that is remarkable, you mentioned our good friend larry kudlow, his response on biden s economy and inflation s impact on wage growth. people do have jobs but they are losing money after inflation and taxes. reagan called it take-home pay. under biden, it s take-home pay cuts. sandra: are we still in position it pays for some americans to stay home, steve? we loaded up on the government benefits, no question about it and so we were paying people a lot of money in terms of food stamps and housing subsidies, cash payments and that lasted way, way too long. now hopefully the debt deal we just passed will require more work, but by the way, did you know, sandra, that the debt deal only requires 20 hours a week?
Oil prices drop as Russia downplays further production cuts. OPEC+ meeting uncertainty. Brent crude, West Texas Intermediate, short-sellers, debt ceiling.