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Transcripts For FOXNEWS Special Report With Bret Baier 20240707

inflation that is not going down significantly. we will have the latest on the midterms including a fallout from all this week s debates. but, first up, the preelection economy where it stands. white house correspondent jackii heinrich starts us off from the north lawn. good evening, bret. the president is in syracuse touting the biden administration investment and praising today s economic report. the data is not what it seems on the surface. great economic report today. the g.d.p. report. things are looking good. at first glance today s g.d.p. report suggests the u.s. economy is turning around after two consecutive quarters of negative growth. but a closer look shows the 2.6% growth was driven by flux yaptions in international trade, not reflecting the underlying health of the economy and increased government spending. economists think both will drop off in quarter four. moreover, consumer spending is slowing as inflation climbs faster than wages. moody s chief ....

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Transcripts for FOXNEWS Special Report With Bret Baier 20240604 22:05:00

by no means are we out of the woods. our overall point is still pretty bumpy. so i think people should buckle their seat belts on this one. bret: here is larry summers, former treasury secretary. the history of developed country since 170 very discouraging about the prospects of bringing down 8% inflation. i m hearing what you re saying about these good numbers. but, boy, it does seem like we are in for a bumpy ride ahead. absolutely. and as the fed remains steadfast in its approach to bringing down inflation, taming that inflation dragon that s been lurking around 9 corner. we do expect cost borrowing costs to continue to rise. and this is going to amplify pressure on consumers and businesses that have already dramatically pulled back in terms of spending and investment. so, while we did see a temporary boost to g.d.p., thanks to an increase in government spending and, again, some nuances in terms of the trade numbers that ....

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Transcripts for FOXNEWS Special Report With Bret Baier 20240604 22:04:00

Let s talk about the state of the economy with l lindsey chief economist. how do you read these numbers today? well, it certainly was a solid report. and a step in the right direction, giving us welcomed reprieve after six consecutive months of negative activity at the start of the year. but, when i look at today s report, i caution be against looking at this as an indication of upward momentum from here. this is likely a static temporary increase. predominantly driven by international trade and a some temporary supports for the consumer. again, rather than indicative of underlying momentum in the economy. so, again, while this was a welcomed step, it s likely the only positive quarter that we will see for quite some time going forward. bret: that s interesting. it matches what i heard on some other channels today from people who worked in different administrations. democratic administrations. here s austan goolsbee earlier. ....

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Transcripts for FOXNEWS Special Report With Bret Baier 20240604 22:43:00

Positive side of that economists we talked to earlier look as the negative thing in a report but positive today for the white house excepts this thing that the president said. most common price of gas in america is $3.39. down over $5 when i took office. bret: no. this is the graph when president biden took office. it was at 2 2.39. and so, it s not down from when he took office. jason riley wall street journal columnist. josh holmes co-host of the ruthless podcast, former chief of staff senator mitch mcconnell marie harp former spokesperson under president obama. marie, we had to tell that one. there were a couple others in there inflation rates and that sort of thing. it seems like the white house is, to ron klain he was denying they are getting to the committee pitch late but they are getting to the committee pitch late. there is good economic news. ....

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Transcripts for FOXNEWS Special Report With Bret Baier 20240604 22:01:00

Inflation that is not going down significantly. we will have the latest on the midterms including a fallout from all this week s debates. but, first up, the preelection economy where it stands. white house correspondent jackii heinrich starts us off from the north lawn. good evening, bret. the president is in syracuse touting the biden administration investment and praising today s economic report. the data is not what it seems on the surface. great economic report today. the g.d.p. report. things are looking good. at first glance today s g.d.p. report suggests the u.s. economy is turning around after two consecutive quarters of negative growth. but a closer look shows the 2.6% growth was driven by flux yaptions in international trade, not reflecting the underlying health of the economy and increased government spending. economists think both will drop off in quarter four. moreover, consumer spending is slowing as inflation climbs ....

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