Gasparino: 3% Inflation Is a Decent Number But It’s Still Above 2% Target

MORGAN the White House ░░░░░░░░ want Americans to think ░░░░░░░░ economy is booming under ░░░░░░░░ brilliant stewardship but the ░░░░░░░░ suggest a rather different ░░░░░░░░ According to a report ░░░░░░░░ Bloomberg Americans are now ░░░░░░░░ on essentials like toilet ░░░░░░░░ and toothpaste They can ░░░░░░░░ afford groceries using apps ░░░░░░░░ Klarna to pay their ░░░░░░░░ bills on installment plans ░░░░░░░░ Gasparino is a Fox ░░░░░░░░ senior correspondent and joins ░░░░░░░░ now So Bidenomics if ░░░░░░░░ re in the White ░░░░░░░░ it sounds fantastic GASPARINO ░░░░░░░░ of I still think ░░░░░░░░ s a tripping over ░░░░░░░░ word MORGAN It s ░░░░░░░░ hard to say actually ░░░░░░░░ Yes MORGAN But they ░░░░░░░░ trying to make out ░░░░░░░░ is the brave new ░░░░░░░░ and everything is fantastic ░░░░░░░░ real world actually these ░░░░░░░░ really shocking some of ░░░░░░░░ revelations GASPARINO Inflation is ░░░░░░░░ high Even today we ░░░░░░░░ a decent number I ░░░░░░░░ 3 CPI print and ░░░░░░░░ s better than it ░░░░░░░░ it s still above ░░░░░░░░ target of 2 It ░░░░░░░░ means the Fed is ░░░░░░░░ to raise rates later ░░░░░░░░ month by another basis ░░░░░░░░ And you know here ░░░░░░░░ Bidenomics You spend a ░░░░░░░░ of money that you ░░░░░░░░ t have spent you ░░░░░░░░ the Fed to keep ░░░░░░░░ rates low lots of ░░░░░░░░ in your markets which ░░░░░░░░ bad you cause inflation ░░░░░░░░ you didn t need ░░░░░░░░ then you have to ░░░░░░░░ the brakes on the ░░░░░░░░ trying to jam it ░░░░░░░░ you know to kill ░░░░░░░░ inflation and you could ░░░░░░░░ a recession Now it ░░░░░░░░ a big gamble because ░░░░░░░░ just labeled what s ░░░░░░░░ on as something with ░░░░░░░░ name in it and ░░░░░░░░ could turn out really ░░░░░░░░ if we have a ░░░░░░░░ or a moderate recession ░░░░░░░░ we might because they ░░░░░░░░ still going to have ░░░░░░░░ raise interest rates MORGAN ░░░░░░░░ worrying is it that ░░░░░░░░ are now using these ░░░░░░░░ to buy groceries now ░░░░░░░░ pay later Because it ░░░░░░░░ to me that s ░░░░░░░░ pretty slippery slope if ░░░░░░░░ re doing that for ░░░░░░░░ GASPARINO It is crazy ░░░░░░░░ always thought it was ░░░░░░░░ for people to pay ░░░░░░░░ with their credit cards ░░░░░░░░ in the day because ░░░░░░░░ d think you would ░░░░░░░░ disposable cash right but ░░░░░░░░ do that now too ░░░░░░░░ think some of it ░░░░░░░░ technology it s easy ░░░░░░░░ the other part of ░░░░░░░░ it is part of ░░░░░░░░ inflationary committee When you ░░░░░░░░ that much inflation and ░░░░░░░░ re talking for average ░░░░░░░░ I know restaurants are ░░░░░░░░ rich people are doing ░░░░░░░░ they can play the ░░░░░░░░ but if you re ░░░░░░░░ average guy you re ░░░░░░░░ truck driver someone on ░░░░░░░░ fixed income your wages ░░░░░░░░ not keeping up with ░░░░░░░░ And this is the ░░░░░░░░ thing with Bidenomics He ░░░░░░░░ touting how great the ░░░░░░░░ line numbers are employment ░░░░░░░░ know GDP What he ░░░░░░░░ t say is that ░░░░░░░░ are losing ground in ░░░░░░░░ wages That s what ░░░░░░░░ will have to own ░░░░░░░░ some point MORGAN Yeah ░░░░░░░░ thank you very much ░░░░░░░░