... little bit of an ░░░░░░░░ drive time there on ░░░░░░░░ southbound drive That s ░░░░░░░░ 195 and the beltway ░░░░░░░░ we were seeing 40 ░░░░░░░░ a little bit earlier ░░░░░░░░ I guess it s ░░░░░░░░ improvement 27 minutes there ░░░░░░░░ your northbound drive steve ░░░░░░░░ says it s making ░░░░░░░░ changes to debit and ░░░░░░░░ cards Not all the ░░░░░░░░ are out but the ░░░░░░░░ says that banks are ░░░░░░░░ to be able to ░░░░░░░░ cards that could be ░░░░░░░░ to multiple bank accounts ░░░░░░░░ you could have fewer ░░░░░░░░ cards in your wallet ░░░░░░░░ could place different price ░░░░░░░░ criteria for your debit ░░░░░░░░ credit card accounts but ░░░░░░░░ the same physical card ░░░░░░░░ multiple accounts They re ░░░░░░░░ it s a way ░░░░░░░░ limit online payment fraud ░░░░░░░░ we ll see more ░░░░░░░░ to be released soon ░░░░░░░░ but monthly government inflation ░░░░░░░░ was released just yesterday ░░░░░░░░ consumer price index shows ░░░░░░░░ eased slightly in the ░░░░░░░░ of April So we ░░░░░░░░ to bring in chief ░░░░░░░░ officer Tim pagliaro with ░░░░░░░░ Tim so good to ░░░░░░░░ you Let s just ░░░░░░░░ with your your reaction ░░░░░░░░ yesterday s report well ░░░░░░░░ morning Well inflation taming ░░░░░░░░ has proven to be ░░░░░░░░ lot more difficult than ░░░░░░░░ the raccoon in that ░░░░░░░░ segment you had Its ░░░░░░░░ for longer And the ░░░░░░░░ chairman kind of tipped ░░░░░░░░ hat The day before ░░░░░░░░ a speech in amsterdam ░░░░░░░░ he said look we ░░░░░░░░ time We re going ░░░░░░░░ the right direction but ░░░░░░░░ ve got to let ░░░░░░░░ rates stay higher for ░░░░░░░░ before they work So ░░░░░░░░ economists now are predicting ░░░░░░░░ a rate cut in ░░░░░░░░ in the first quarter ░░░░░░░░ think the consensus is ░░░░░░░░ that it will be ░░░░░░░░ the first quarter of ░░░░░░░░ now are we still ░░░░░░░░ a ways to go ░░░░░░░░ then why is inflation ░░░░░░░░ still so elevated well ░░░░░░░░ you look at the ░░░░░░░░ price index 42 of ░░░░░░░░ is housing and everything ░░░░░░░░ to housing costs has ░░░░░░░░ up Whether it s ░░░░░░░░ insurance building costs maintenance ░░░░░░░░ and that s very ░░░░░░░░ sticky And then there ░░░░░░░░ a big labor component ░░░░░░░░ that And so some ░░░░░░░░ the signs that we ░░░░░░░░ out in the economy ░░░░░░░░ for example the UAW ░░░░░░░░ a vote in the ░░░░░░░░ plant in Alabama it ░░░░░░░░ just a it signifies ░░░░░░░░ there s still a ░░░░░░░░ of labor tension in ░░░░░░░░ in the market And ░░░░░░░░ s not easy to ░░░░░░░░ because American families are ░░░░░░░░ to catch up from ░░░░░░░░ 25 to 30 increase ░░░░░░░░ the cost of living ░░░░░░░░ we ve experienced over ░░░░░░░░ last 3 to 5 ░░░░░░░░ So it s going ░░░░░░░░ continue wage demands are ░░░░░░░░ thirds of the economy ░░░░░░░░ it ll be hard ░░░░░░░░ them to to bring ░░░░░░░░ under control in the ░░░░░░░░ term I just read ░░░░░░░░ report yesterday that 1 ░░░░░░░░ 5 Americans has maxed ░░░░░░░░ their credit card So ░░░░░░░░ though we re seeing ░░░░░░░░ slight you know decrease ░░░░░░░░ the rates it s ░░░░░░░░ most people aren t ░░░░░░░░ it Costs of shelter ░░░░░░░░ has gone up as ░░░░░░░░ So what can we ░░░░░░░░ do in the meantime ░░░░░░░░ would suggest in order ░░░░░░░░ deal with this inflation ░░░░░░░░ navigate it all well ░░░░░░░░ know the primary thing ░░░░░░░░ be to pay down ░░░░░░░░ and not extend yourself ░░░░░░░░ into debt during a ░░░░░░░░ like this because you ░░░░░░░░ t count on any ░░░░░░░░ from interest rates and ░░░░░░░░ re not going to ░░░░░░░░ able to count on ░░░░░░░░ think you know a ░░░░░░░░ labor market where you ░░░░░░░░ get the kind of ░░░░░░░░ to offset even three ░░░░░░░░ a half to you ░░░░░░░░ plus percent in inflation ░░░░░░░░ it s it really ░░░░░░░░ a period where Americans ░░░░░░░░ going to have to ░░░░░░░░ their belt and move ░░░░░░░░ To your earlier point ░░░░░░░░ are in a negative ░░░░░░░░ rate right now So ░░░░░░░░ are using their savings ░░░░░░░░ maintain their standard of ░░░░░░░░ And that s not ░░░░░░░░ either all right Tim ░░░░░░░░ you so much for ░░░░░░░░ time your expertise We ░░░░░░░░ it And we ll ░░░░░░░░ you soon I guess ░░░░░░░░ the next report is ░░░░░░░░ to break it down ░░░░░░░░ us Tim pagliara on ░░░░░░░░ of the cap wealth ░░░░░░░░ this morning Thank you ░░░░░░░░ you let s get ░░░░░░░░ a news alert. ...