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neil: dazed and confused. travelers demanding answers after 15,000 flights in the u.s. were cancelled or delayed over just the last two days. this is holiday travel is now in full swing ahead of the long july fourth weekend. getting out early may not be helping too much. we have fox team coverage for you. alex mcadams on what the transportation secretary is saying and rick reichmuth on how the weather could be wreaking havoc on this. welcome, everybody. i m neil cavuto. what do they say about weather ago crisis? that s what s going on right now alexis mc aadams with more. neil, i m the only one here smiling because nobody is happy. everybody we have talked to has been livid. you can see them on my shoulder waiting in line to talk with the united reps. only two working for a four-hour line. when they get up there, what do they find out? we can t book you until after the holiday. people are sleeping on the floor. take a listen. 48 hours, i guess. my flight was cance ....
beijing has stopped cooperation with the u.s. on military operations and climate change. meanwhile, russia indicates it is ready to discuss a prisoner swap, one day after a court sentenced brittney griner to nine years in prison. we begin with the increasingly complicated state of the u.s. economy, after a string of not so great data on economic growth, inflation, and consumer sentiment. a sign that things may not be as bad as many think. the government says employers added 528,000 jobs in july, more than double what experts had predicted. the unemployment rate fell slightly to 3.5%, and when you break down that number, the numbers fell for minorities. president biden state more people are working than at any point in american history. that s millions of families with the dignity and peace of mind that a paycheck provides. he goes on to say there s more work to do, but today s jobs report shows we are, quote, making significant progress for working families. with us n ....
A two-year high, wage growth starting to out pace inflation, at least month to month, but recession fears still linger. that was one of the headlines. and as you point out, it s sort of a hedge comment, like we think we re out of the woods, but maybe not. what s going well, what s still worrying people? well, the economy, for the first time in my experience, i haven t seen an economy this split, where you have certain sectors in recession, manufacturing portions of the residential real estate sector are in recession. the consumer is doing well. manufacturing and technology are doing well. you can t make a uniform statement about exactly where we are. the economy is growing a little bit north of 2%. inflation in my estimation is coming down much faster than fed chair powell would admit, and so i think this is overkill on the rate increase side. but the economy is okay. i wrote a couple of weeks ago, we re as close to a goldilocks environment as we might see for the foreseeable future, ....
There s a new quinnipiac poll out of pennsylvania i just saw. basically biden and trump in dead heat in that state that is the trend that we ve been seeing. neil: another thing too when i crunch the numbers, look at the wall street journal and they see a goldilocks environment. they could be wrong that i have been wrong in the past. one of the things that they cite, the confluence of economic data is more good than bad. you have a company that comes out like general mills or walgreen s telegraphing slow down or trouble with customers. for everyone of those, there s five others with robust activity. delta, the hotels that are crammed full that show the consumer is still spending. i m wondering here if pounding a negative message, when it isn t all negative is a mistake in strategy on the part of republicans. by all means point out the ....
Back inflation, which by the way is already falling. gasoline prices have come down 51 days in a row. other inflation indicators, copper, food prices, all of those are falling as well. so the concern is, does the fed continue to try to dampen demand and actually push the unemployment rate up to ease any further inflation pressures, or at some juncture do they come to the point and decide this is a goldilocks environment. we ve got a lot of good things going on, we re rebounding, the economy is stronger than most people realize. the only reason it would go into recession, i believe, is if the fed raised rates too much and slowed the economy too dramatically, barring any other kind of external events that might occur, let s say, between the u.s. and china or some other factor that could exacerbate some of these supply chain disruptions or growth issues that we see else where in the world. thank you, my friend. ....