CNN’s Kosik: ‘We’ve Got Inflation Sitting at 40-Year Highs, We’re Paying More for Just About Everything’

BLACKWELL So what are ░░░░░░░░ expectations KOSIK All right ░░░░░░░░ I think we can ░░░░░░░░ agree that we d ░░░░░░░░ to be optimistic with ░░░░░░░░ economy but then there ░░░░░░░░ the reality about what ░░░░░░░░ happening with the economy ░░░░░░░░ ve got inflation sitting ░░░░░░░░ 40 year highs You ░░░░░░░░ we re paying more ░░░░░░░░ just about everything You ░░░░░░░░ at one piece of ░░░░░░░░ from the New York ░░░░░░░░ that says credit card ░░░░░░░░ have actually grown by ░░░░░░░░ billion since last year ░░░░░░░░ consumers are scraping by ░░░░░░░░ that s a reality ░░░░░░░░ then you ve got ░░░░░░░░ Fed raising interest rates ░░░░░░░░ the Federal Reserve chair ░░░░░░░░ saying it s going ░░░░░░░░ cause some pain to ░░░░░░░░ and businesses Those are ░░░░░░░░ words so analysts Victor ░░░░░░░░ finding it really difficult ░░░░░░░░ see how the Fed ░░░░░░░░ actually going to navigate ░░░░░░░░ so called soft landing ░░░░░░░░ avoiding a recession knowing ░░░░░░░░ when the Fed raises ░░░░░░░░ it s actually engineering ░░░░░░░░ possible recession because you ░░░░░░░░ you look at the ░░░░░░░░ it s already showing ░░░░░░░░ of slowing I do ░░░░░░░░ to mention one other ░░░░░░░░ with this interview that ░░░░░░░░ President did Scott Pelley ░░░░░░░░ him with the Federal ░░░░░░░░ raising interest rates at ░░░░░░░░ aggressive pace what can ░░░░░░░░ do to prevent a ░░░░░░░░ and the President replied ░░░░░░░░ that continue to grow ░░░░░░░░ economy and we re ░░░░░░░░ the economy What stuck ░░░░░░░░ to me here was ░░░░░░░░ it seems like the ░░░░░░░░ Reserve and the President ░░░░░░░░ on different pages here ░░░░░░░░ Fed is deliberately trying ░░░░░░░░ slow the economy to ░░░░░░░░ a handle on inflation ░░░░░░░░ President Biden is talking ░░░░░░░░ growing the economy Two ░░░░░░░░ sides of the coin.”