Amber heard is expected to say she did hit johnny depp but only in self-defense. bill and dana. bill: we ll be back there shortly. david spunt outside the courthouse. inflation is much too high and we understand the hardship it is causing. dana: jerome powell announcing a half point rate hike yesterday. warning more hikes are lightly in a bid to fight the worst administration since the reagan administration. larry kudlow joins us. what about the initial decision yesterday? the problem with this whole story is yeah, he raised the rate, the target rate by 50 basis points, half a percent. that s the most in 20 years. but dana, the problem is the inflation rate is the highest in 40 years. so the fed remains way behind the curve and we re in trouble and inflation is going to continue. we had a report out this
The economy and why these numbers were so off. well, first of all, you re talking about cumulatively over those two months. 700,000 jobs over what we knew? there has been speculation that the labor department numbers through the pandemic have at times been confusing and maybe suspect, maybe not as good or as bad as numbers had been suggesting. it is not uncommon to revise previous months numbers as you get a better handle on what the economy is doing. the fed, which has signalled it will be raising traits, most economists say it s baked in, we re talking about a half point rate hike as soon as march, a total of five rate hikes are likely during the year. why? because inflation is running at 7% and wages growing at about 5.5%.