critical issues like taiwan and uk. a surprise among democrats to lower drug prices and address climate change. we re going to discuss with democratic senator brian schatz from hawaii. also new this hour, a u.s. prisoner swap proposal to bring wnba brittney griner and businessman paul whelan home from russia. what moscow is saying, ahead. we begin this hour with the state of the american economy. a short time ago the government reported economic activity fell by 0.9% between april and june. that s the second straight quarter it has fallen. moments ago president biden issued a statement on the report saying, in part, it s no surprise the economy is slowing down as the federal reserve acts to bring down inflation. but even as we face historic global challenges, we are on the right path and we will come through this transition stronger and more secure. also this morning, we learned that 256,000 people filed first-time unemployment claims last week. that s a slight decrease
European Midday Briefing:Debt-Ceiling Talks Remain in Focus
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North American Morning Briefing: Powell on Tap -2-
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down my credit card debt and i m mad about what i m seeing? i get it. but what the fed is trying to do is say, we have to take this short-term pain for a long-term solution. the bigger question, is this going to give you a long-term solution? let s talk about what is actually causing the inflation. it s the fact that we still have supply chain issues because of lockdowns in china. it s because of the war in ukraine that s caused a huge increase in gas prices, in food prices, in lumber prices. so, us raising interest rates isn t going to change those issues out there, these global issues that are causing inflation, so that could be a very problematic situation. we raise rates but raising rates isn t going to lower gas prices. also we re going to thatter from the president and other administration officials later today about where they think things stand, where they re going with this. what do they need to tell people who believe this economy isn t working for them? i mean, it s ha
and fire, sworn officers. there s a whole cadre of city services that support public safety. let me ask you about that because we re talking about city services being shut down here and looking at the number of times that the mayor said, hey, let s just raise utility rates and i m seeing that the council rejected it a number of times. why not just raise i mean, you re in a horrible budget situation. why not raise utility rates? doesn t that seem less radical than saying to folks, you know, two days a week, we re shutting down services. first of all, that raise in the utility rates isn t necessarily fund goesing into the general fund to keep libraries open. they re talking about raising utility rates so that they can have more operational cash to run dwp. the reason that there s this dispute is that dwp was just evaluated by one of the major