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In north american history. and, richard, by my calculation, the mets payroll next season will be higher than the gdp of eight concerns. i think we should give steve cohen a vote in the u.n. general assembly, but he s basically undoing everything jay powell has tried to get accomplished. every time rates go up, steve spends more and the economy overheats. the aaron judge thing is great. babe ruth, lou gehrig, don mattingly, thurman munson, and derek jeter, what a great tradition. i like the idea this is one of the things. it s $300 million plus to get him to stay in new york, but this is a great tradition, so i m exited, joe. i m excited and i think it increases the chances that yet again we dominate your team, and that will make for a good warm, comfortable summer. well, dominating our team is not hard. ....
So, the key most direct way is just to slow growth down a bit so that we, you know, we don t get into a position where the economy overheats. so where unemployment is too low, wage growth is too strong and inflation develops. except that you don t think this is the time right now for the fed to act? no, i think they should. i think there s a debate about a reasonable debate about how fast they should raise rates, and you know, right now, the fed and markets seem to be signaling very aggressive rate increases, five rate increases this year, a quarter point each. that s, you know, a pretty significant increase in rates if they stick to that script, and i m just nervous that that might be overdoing it in the context of the fact that we re still in the middle of a pandemic. i mean, omicron is doing a lot of damage to the economy. job employment is probably going to decline in january. gdp growth, you mentioned that number for the fourth quarter but for the first quarter, that ....
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Higher. you can t have it all. we have nine million job openings. wages are going up. we re in a comfortable position. where is this sense of urgency to spend this much money coming from? well, look, i think you dial this back to january when biden took office. talking about the deepening financial crisis, the economic the economy being in a deep hole and getting worse. charles, that was plain not true. the economy grow 4% in the fourth quarter. 6% in the first quarter. meanwhile, we re handing out $1,400 checks to everybody whether or not they were working or not working. it was absurd at the time. jason furman said maybe we should have triggers in some of thinks relief bills so if the economy begins to heat up, we can dial them back, which i thought was a brilliant idea. remember, about a month ago, janet yellen hinted that we might have to raise interest rates if the economy overheats. ....
Back in their districts they re bragging about it the rescue plan. martha: a little hardball from the president. we ll talk about that negotiation and how it s going. some say the president is in a tough spot. he s got $6 trillion spending when you add up the jobs, the family and rescue plan. we haven t seen this kind of spending since world war ii. some on the left and right believe he should cool it before the economy overheats. it s a very real prospect out there in the u.s. economy. he has americans spending again, traveling, reopening is well underway. leading republican governors sat down. one of them echoed what biden s own past advisers including larry summers have been telling him. this was last night on hannity. watch. joe biden needs to stop trying to rescue us. we don t need to be rescued. ....