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

KOSIK All right Listen ░░░░░░░░ think we can all ░░░░░░░░ that we d like ░░░░░░░░ be optimistic with the ░░░░░░░░ but then there s ░░░░░░░░ reality about what s ░░░░░░░░ with the economy We ░░░░░░░░ got inflation sitting at ░░░░░░░░ year highs You know ░░░░░░░░ re paying more for ░░░░░░░░ about everything You look ░░░░░░░░ one piece of evidence ░░░░░░░░ the New York Fed ░░░░░░░░ says credit card balances ░░░░░░░░ actually grown by 100 ░░░░░░░░ since last year so ░░░░░░░░ are scraping by and ░░░░░░░░ s a reality And ░░░░░░░░ you ve got the ░░░░░░░░ raising interest rates with ░░░░░░░░ Federal Reserve chair himself ░░░░░░░░ it s going to ░░░░░░░░ some pain to households ░░░░░░░░ businesses Those are his ░░░░░░░░ so analysts Victor are ░░░░░░░░ it really difficult to ░░░░░░░░ how the Fed is ░░░░░░░░ going to navigate this ░░░░░░░░ called soft landing meaning ░░░░░░░░ a recession knowing that ░░░░░░░░ the Fed raises rates ░░░░░░░░ s actually engineering a ░░░░░░░░ recession because you know ░░░░░░░░ look at the economy ░░░░░░░░ s already showing signs ░░░░░░░░ slowing I do want ░░░░░░░░ mention one other point ░░░░░░░░ this interview that the ░░░░░░░░ did Scott Pelley asked ░░░░░░░░ with the Federal Reserve ░░░░░░░░ interest rates at this ░░░░░░░░ pace what can you ░░░░░░░░ to prevent a recession ░░░░░░░░ the President replied saying ░░░░░░░░ continue to grow the ░░░░░░░░ and we re growing ░░░░░░░░ economy What stuck out ░░░░░░░░ me here was that ░░░░░░░░ seems like the Federal ░░░░░░░░ and the President are ░░░░░░░░ different pages here the ░░░░░░░░ is deliberately trying to ░░░░░░░░ the economy to get ░░░░░░░░ handle on inflation and ░░░░░░░░ Biden is talking about ░░░░░░░░ the economy Two different ░░░░░░░░ of the coin.”