market could be a plus for the fight on inflation. we ll talk about why. but let s start with the president s chilling warning on the increasingly disturbing nublt nuclear threats from vladimir putin. president saying, quote, we have not faced the prospect of armageddon since kennedy and the cuban missile crisis. i don t think there is any such thing to use a tactical nuclear weapon and not end up with armageddon. jeremy diamond joins us and alex mar court following all of this. jeremy, let me begin with you. not expected by the white house, i think those around the president that he would say this and he said it as a fundraiser. so not on camera here in new york. but reporters were there and i think stunned to hear what the president said. reporter: yeah, that was a stark warning from the president of the united states. perhaps one of the most stark warnings that we ve heard so far about the elevated risk which is real and there is real concern within the administration
in the past when we talk about recessions because we re coming off a worldwide catastrophe and a global pandemic. so the pressures are different. and we re not the only country in the world obviously dealing with this. european countries are dealing with this as well. no. i think that is another important point. you can t compare this to anything else but the reality is where americans end up now for their economy and for their families. and you know, you say inflation is coming down. we re still at 8%. you still have core inflation going up and i wonder if you have faith that the federal reserve could get a handle on this inflation without putting too much americans out of work? well, i m hoping that all of the policies and procedures whether it is the fed or the administration or the department of labor, my role, my job is to try to get as many people into work as possible. get them into better paying jobs and into middle class jobs and work with businesses and labor to increase
the unemployment rate ticked to 3.5%. the second straight month of cooling job growth as the fed works to tame inflation. let s talk about this with marty walsh. mr. secretary, good morning and thanks for the time. thank you for having me today. so, i wonder if the biden administration is happy to see the labor market cooling a bit relatively speaking compared to the last 12 months because the fed needs that actually. they need slower job growth to get a handle on this inflation? well, yeah, i m not sure well maybe people are defining this as cooling. i m looking at it as a time where we ve had incredible job growth in the last year. this year we still have good job growth. we ve added about 440,000 jobs per month if you do an average. certainly this report, 263 is a good strong report. there is still the opportunity to get more people back to work. i think we re adjusting to what
i m focused on other folks are focuses on different parts of this. the good part, this is an all of government approach. the president filed the inflation reduction act that we bent see the impacts right away. the chips bill is another one. we don t see the benefit but long-term they ll help the american economy moving forward and prevent the inflation we re feeling today down the road. do want to ask you because i mentioned opec and slashing to 2 million barrels of production going to drive gas prices higher and there is very little that the administration could do about that. on top of people are going po watch their gas get more expensive, the president of the san francisco federal reserve mary daly told me this just a few days ago. listen. we need to recognize is that people are already are suffering. they re suffering from the toll, the indignity of high inflation. they earn their living and go to the store and they can t afford the things they could afford
market could be a plus for the fight on inflation. we ll talk about why. but let s start with the president s chilling warning on the increasingly disturbing nublt nuclear threats from vladimir putin. president saying, quote, we have not faced the prospect of armageddon since kennedy and the cuban missile crisis. i don t think there is any such thing to use a tactical nuclear weapon and not end up with armageddon. jeremy diamond joins us and alex mar court following all of this. jeremy, let me begin with you. not expected by the white house, i think those around the president that he would say this and he said it as a fundraiser. so not on camera here in new york. but reporters were there and i think stunned to hear what the president said. reporter: yeah, that was a stark warning from the president of the united states. perhaps one of the most stark warnings that we ve heard so far about the elevated risk which is real and there is real concern within the administration about