americans, republicans and democrats, are worn out. there is frustration every, and frustration of very different kinds. have you people who are frustrated by school closures and people from us trade by not being able to get better wages at their workplace, people frustrated with the fact that we still haven t beaten this deadly illness, all different kinds of frustrations. one interesting thing about the fed s move it s a bigger attack on inflation. if you look at the way the biden administration is trying to fix the kinks in the supply chain, that s been a factor. not just consumer demand but also the fact that the microchip shortage means used and new cars will be a lot more expensive. you saw that in our poll, too. it s personal. they have tried to buy something, whether it s a new car, something simple and they can t get it because it s held up in the supply change. the uk seeing a tidal wave of the omicron surge and even forcing the queen to cancel a time-honored family tradi
make sure that they sound like they understand inflation and that they are doing something so the messaging shift has to blame republicans more for blocking the legislation that they say would address that and face off joe manchin, even that effort to pin that on republicans becomes more difficult on the republicans. chairman powell has to work that covid over time fades a little bit. you re right about this covid frustration that takes different forms for different people, but it s everywhere. it is. and that s affect one of these numbers about the state of the economy. are you worried? 75% say yes. americans are worried. americans are frustrated. americans are tired. again, it s different for different people depending on what they do and where they live. it s pretty universal. it s amazing to see how many
he is here so explain, matt, the fed will raise interest rates three times next year. wall street likes it. what about main street? well, john, this is a major policy shift from one of the world s most powerful institutions, and it will impact virtually all americans. to really understand it though, we have to flash back to march of 2020 when the world is falling apart. the fed came to the rescue with unprecedented support for the economy. it cranked up support for a 10 out of 10, and it worked. there was no financial crisis. credit kept flowing. there were no bankruptcies, no big bank failures, and that s a big part of the reason why this recovery is so strong, but what s interesting is that the fed is still kind of in emergency mode even though unemployment is low and inflation is high. policy support is still at like an eight. now the fed is finally recall bright for the reality of the moment. as you mentioned, that means they are going to wind down the bond-buying stimulus buying
trying to close down long-term care facilities briefly from outside visitors. we can do any number of things like that, but i suspect that, a very short period of time we could be talking about millions of cases of omicron infection occurring in our communities. that s a sober message there. when you see, i showed a minute ago match the cases. hospitalizations run. nowhere near where they were this point last year before we had vaccines but we had nearly 70,000 americans in the hospital because of covid. a month ago that was 47,000. if you look at it from an intensive care unit, new hampshire and new mexico have half of the hospital beds are now being filled up. the surgeon general says the country everywhere needs to follow what the sports leagues do so we have a better sense of what s out there. kudos to the sports leagues because they are actually doing
with buy-one-get-one free fandango tickets. join over a million members by signing up for free on the xfinity app. our thanks. your rewards. more proof today of the labor market s recovery. 206,000 americans filed for unemployment benefits, up 18,000 from last week s labor department report but still a remarkably low, historically low number. the strong jobs market is one reason cited in had a major about-face from the forest. the fed chairman jerome powell revealing the central bank is moving up its timeline to raise interest rates and to scale back its covid pandemic stimulus approach. the change is designed to fight inflation. let s get the latest from cnn business reporter matt egan.