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moment, but first, president biden in south korea today where he is issuing new warnings to china and north korea. jacqui heinrich is in seoul with the very latest. reporter: good morning to you, david. in case the subtext of the president s trip was not clear enough, he wrapped up his final full day in south korea with a not so veil ised warning the china that they better not invade taiwan, or they ll face at least the same treatment that that russia is getting over its invasion of ukraine. our alliance between our countries is built on shared sacrifice. our joint commitment to the freedom of the republic of korea and our opposition [inaudible] reporter: before his state dinner with south korean president yun, biden sopped to sign a $40 billion aid package funding ukraine s military, having that bill flown to the other side of the world for his immediate signature so there ll be no lapse in funding. the moment underscoring alliance after china buzzed taiwan wit ....
Funds rate last time, i don t think we actually get to 3.5% unless the fed is intent on putting the u.s. into recession. david: ten seconds, laura. i ll take less than ten. consumer confidence remains strong, and the outlook [inaudible conversations] pleasure. david: we ve got to move on, folks. we re going to see more of panel coming up in the next hour. thank you very much. well, explosive testimony from hawaiian s former campaign hillary clinton s former campaign manager. a lot of legal experts saying she should call a lawyer. that s next. you re never responsible for unauthorized purchases on your discover card. ....
Americans think we re going in the wrong direction, and it s primarily because of the economy. i think you re absolutely right. learn we live here, right? we re the ones experiencing it. i don t really care what s going on in china, i care about what s happening in this country, and i think a recession is here. a. david: danielle, we did have a fed official out, and he s kind of a hawk. he s the president of of the fed, his name is mr. bullard, and he was on fox business earlier week, and he kind of took issue with that recession charge. let me just play that tape. roll it. not year. reporter: next year? no, i don t really think so. that s not my base case. recessions would have to come because there s some really large shock, and i can t rule out that there d be some really big shock and maybe there would be. but i m not seeing it, you know, near term. david: danielle, he says he wants to get the fed s fund rate, the interest rates up to 3.5%. ....
They re now less than 1%. so maybe he s just talking his book in order to give him running room to raise rates, i don t know. what do you think? i really do think that. bear in mind, fed officials, they have to be public relations standard bearers. they cannot say we re going into recession. i worked there for almost a decade. it s against the rules. so he can t really say what he s actually seeing. but if if you look at jobless claims, since march 19th they ve risen by 31% off of their lows. americans expectations for rising unemployment, that is up 15 percentage points, 80% of the time in data back to 1978. the economy s already been in recession when americans perception of the jock market is as down job market is as downed as it is today. at some point fed officials will have to give into the actual data that are stare ising them in the face. i don t know when that s going to be. we only were at 2.5% on the fed ....
Early investors in facebook, paypal, etc. this is what he had to say about recession. toll rape roll tape. from where i sit, market is really semi-frozen, and this is, again, the worst downturn since dot.com crash, and it looks to me like we re heading into serious recession. david: is he right, kennysome. i think he s right. i think we re going to get there before the pall. i was actually one who thought it was going to come early next year. i actually think it s bing to arrive late summer. the depth is really going to depend on what the fed does, the pace at which they move to try to tame inflation. and they re floating once again those 75 basis points, and even the other day i heard a full 1% move. cade david danielle, this week was a real game-changer because all the real damage can had been focused on the tech stocks, but week we got these retail stocks. you know, bellwether stocks kind ....