u.s. policy. basically diplomatic chaos this afternoon. ending with paper statement from the white house in an attempt at clarifying from the defense secretary. white house correspondent peter doocy is traveling with the president starts us off tonight tuesday morning from tokyo. good morning, peter. peter: good morning, bret. president biden spent months explaining the u.s. was never going to fight russia in ukraine. he was very clear about that. and when it comes to fighting china in taiwan, he was very clear about that, too. he just wasn t on the same page as his staff. the future of the 21st century economy is going to be largely written in indo-pacific. the president planned to talk about confronting china economically but wound up talking about confronting china on the battlefield. are you willing to get involved militarily to defend taiwan if it comes to that? yes. you are? that s the commitment we made. but what the president says the u.s. would help t
This week, the stock market took a turn into bear territory on the heels of yet another brutal monthly inflation report. With the Federal Reserve considering larger rate hikes in order to tamp down record inflation, the possibility of a near-term recession now looms quite large, despite the feeble protestations of Treasury Secretary Janet Yellen. As former Clinton Treasury Secretary Larry Summers the man who predicted President Joe Biden's inflation stated, "I think when inflation is as high as it is right now, and unemployment is as low as it is right now, it's almost always been followed, within two years, by recession."
This week, the stock market took a turn into bear territory on the heels of yet another brutal monthly inflation report. With the Federal Reserve considering larger rate hikes in order to tamp down record inflation, the possibility of a near-term recession now looms quite large, despite the feeble protestations of Treasury Secretary Janet Yellen.