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MSNBC Katy Tur Reports July 7, 2024

of the 11th hour, stephanie rule, tom costello with us, white house correspondent carol lee and host of public radio s full disclosure. the news is in, stephanie, three quarters of a point. we thought originally it was going to be 50 basis point but jay powell is in a situation. we are in a serious inflationary environment. normally the fed likes inflation to be around 2% and it s currently approaching 9. so 75 basis points is a big move but it s still tricky because what they don t want to do is move so much so quickly that they push us into recession. but if they don t do something aggressive, prices will likely continue to rise and the economy is suffering for it, especially right around gas prices. this is a big move. it s not unexpected. it s the thing that people have been waiting for. most economists across the board have said this should have happened months ago. markets are going to take this as a positive. robin, it is hard to thread this needle, thoug ....

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MSNBC Katy Tur Reports June 4, 2024 18:03:00

Those are really pocketbook issues. and it s so much harder to kill inflation after fact than kind of inflate a recessing economy. speaking of the eggs, tom, walk us through what we re seeing out there because it is rough. it is rough. listen, we ve got overall inflation as you ve heard running at 8.6%. the last time we had that was 40 years ago. and, oh, by the way, now this biggest rate hike in almost 30 years. food is expensive, up about 10%, housing up 5.5%. you talk to anybody at the gas pump, they ll tell you how much they re paying in their state, well over $5 a gallon in half the states out there. the short answer here is that by raising the interest rates, no, we re not suddenly going to see prices come down. quite the contrary. you re going to be paying more if you take out a new mortgage, a new car loan, credit cards, private student loans. the point is they re trying to make it more difficult for people to spend, not just ....

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