plus more firepower for ukraine, the u.s. about to approve longer range missiles to counter russians on the battlefield. and too cold for school, classes in big cities like boston and buffalo canceled with the coldest windchills since the 1980s about to take hold. it is friday, welcome to our viewers in the united states and around the world. i m christine romans. right now chinese spies could be watching you from above from a high altitude spy balloon. the pentagon says they have been tracking this balloon about the size of three buss for days. people on the ground in montana at any didn t know what to make of it at first. there is the moon. all right. and then there is that. what planet is that? that sighting raises two big questions, what is it doing here and what does the biden administration plan to to about it. we get more from oren liebermann at the pentagon. reporter: for several days now the u.s. has been tracking this surveillance balloon over northern u.s.,
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overhired, those workers are moving to other sectors where they can be more proceed tuck difference. the question is whether we move to a contraction in jobs growth and i think that higher interest rates will affect in a way they haven t yet and i think powell alluded to that wednesday and i think first and second quarter we ll see some of that. do you think that we could actually lose some jobs or do you think that we re just talking about wabout less robush every month? we see 50% chance of a contraction driven in large part from the weaknesses that we see on the consumer side of things. just across the board, not only spending personal finances, as well and growing sensitivity to elevated prices. so when we look at that consumer forecast, it speaks to us as weak consumer demand and in turn i think that businesses will pull back on a lot of their hiring needs as well.