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but there s also the strong data coming out of the labor market. neil: jerome powell said this even after he and his fellow fed members unanimously hiked the interest interest rates .5%. so does jerome powell know something we don t know? the official number that might prove we re in a recession doesn t come out till tomorrow morning. here s powell sounding like the president showing no such concern today. so what to make of it? we re all over it with connell mcshane on how americans don t care what they re calling it, this recession is real and they re having a devil of a time dealing with it. edward lawrence on how the fed plans to handle it. and michael moore on how if a hard landing can be avoided. welcome. i m neil cavuto. first to lawrence on the move that a lot of people expected but the reaction that many did not. edward? it s very interesting that the federal chairman saying that we re not in a recession and we can avoid a recession and taking the same talk ....
time here. here s the good news. we re six months through this. here s the bad news. get ready for six months more of this? welcome, everybody. i m neil cavuto. we begin with lauren simonetti on what happens and what could be coming next. hi, lauren. neil, let me take you back to january 4, 2022. that was the high of the year. dow 36,799. just a few days later, the blue chip average fell over 1,000. that is ringing true this year also.so the day russia invaded ukraine, february 24, the dow went to 33,223. the seventh official correction mark ago 10% decline from that january high. investors paused. spring didn t seem so bad. the war did. commodity costs, they climbed even higher. the federal reserve started to take more drastic action. they raised the rate 50 basis points may 4, a steep sell-off on wall street right after that. so investors started to think, oh, 50 basis points. maybe that s not enough when consumer prices surged 8.6%. we found that out june 10th. inf ....
3/4 of voters say it is currently on the wrong track. democrats control the house, senate and white house. voters also not optimistic things will get better. staring down 40-year high inflation, open borders, raging crime. nearly 60% say our best years are behind us. republicans calling on americans to vote with their pocket books and their security in mind. they are talking about not being able to afford putting food on the table, putting gas in their trucks. americans want security and safety. democrats are not delivering that. this is about the lack of leadership coming from the white house and washington whether it s crime at their front door, invasion on the southern border or sky high inflation thanks to the economic policies of the biden regime they know exactly what time it is. former utah congressman jason chaffetz in focus. peter doocy live in delaware where the president is vacationing. peter. and one of the main things white house officials keep ....
holiday. we hear the president and democrats could be cooking up. welcome. i m neil cavuto. let s get to it with jacqui heinrich at the white house. hi, jacqui. yeah, with gas prices where they are, the white house is considering an idea that they tabled. that s sending out rebate cards to americans. they re eyeing a decision by the end of the week on whether to extend a gas tax holiday. it is a short term solution as one industry ceo puts it that they say runs counter to the administration s broader strategy. the first year of this administration, they were focused on demand destruction. this could be an exercise in demand construction. the real focus here should not be on short term solutions like cutting the federal gas tax but long-term solutions to provide american energy security from american producers here in the united states. whether the fed can cool inflation without trigger ago recession, the white house is getting creative. yesterday morning larry sum ....
biden desperately tries to deal with the skyrocketing inflation fueled at least partly, maybe greatly by record gasoline prices. white house correspondent jacqui heinrich has our top story tonight live from the north lawn. good evening, jacqui. good evening to you, bret. today president biden brushed off a gloomy forecast from former president obama s secretary larry summers says it s more likely than not that we will see a recession by the end of next year. biden has a different outlook after he says he spoke with larry summers this morning. but the white house is finding creative ways to ease pain at the pump. with sky high gas prices, team biden is reconsidering aned in they first tabled sending americans rebate cards. also eyeing a gas tax holiday. i hope i have a decision based on data i m looking for by the end of the week. a short-term solution one industry ceo says runs counter to the administration s broader strategy. they were really focused on demand ....