Inflation and Recession – The Joe Cunningham Show
The Joe Cunningham Show airs 3-4 p.m. every weekday on NewsTalk 96.5 KPEL. The daily show notes offer you a look into the topics of the day and the links to the top stories and Joe's own writings on the state of politics in Louisiana and around the country. Follow Joe on Twitter at @JoePCunningham and Like the Joe Cunningham Show on Facebook. You can also subscribe to the Joe Cuningham Show podcast on Apple, Spotify, Stitcher, or Amazon.
BREAKING: Federal Reserve hikes interest rates again. (RedState)
It's Not A Recession, Except It Is
The talking points have gone out, and the White House line that "even if we show a second quarter of shrinking GDP, it's still not a recession" is being picked up by all sorts of media folks who just a month ago were saying that... yeah, we're in a recession. Here's financial reporter for POLITICO Ben White contradicting himself.
The fact of the matter, though, is that regardless of whether or not it's declared that we're in a recession, voters already think we are. The polling is there to show it, and the Biden administration is trying to convince everyone they're wrong, rather than tell everything the White House is doing all they can to help.
The Fed Thinks They Can Fight Inflation Without Causing A Recession
In light of today's interest rate hike - another three-quarters of a percentage point - Fed Chair Jerome Powell is trying to make investors feel better by saying we could make it through these hikes without a recession.
He's responding to the historical trend that raising interest rates almost always causes a small recession. But even without the rate hikes, most major investors are preparing for the worst.
Related: Mortgage demand declines further, even as interest rates drop a bit (CNBC)
The State Of The Midterms
Herschel Walker, who many have considered a long shot in his bid against Georgia's U.S. Senator, Raphael Warnock, is making headway and could be a winner before it's all said and done. Here's a breakdown of what's happening in Georgia.
In Missouri, Eric Greitens is on the decline and Eric Schmitt is on the rise. Mehmet Oz could pull it out in Pennsylvania, and New Hampshire Democrat Maggie Hassan is still considered extremely weak. Republicans could still very easily come away with a majority come November.
Headlines Of The Day
- Hulu to begin accepting political issue ads (Axios)
- New CNN Poll Spells Doom for Biden (RedState)
- Study finds Wuhan market as likely origin of COVID-19 pandemic (Tulane)
- Four dead in 7.0-magnitude earthquake that hit northern Philippines, impact felt in Manila (CNN)
- Lafayette librarian keeps job after board members attempt to fire her over book display (The Advertiser)
Tweet Of The Day