WON’T DO THAT AT THESE PRICES.
PANEL, STICK AROUND.
THE FEDERAL RESERVE HAS ITS WORK
CUT OUT. INVESTORS ARE BETTING THEY WILL
INVESTORS ARE BETTING THEY WILL
RAISE INTEREST RATES BY A FULL
ONE POINT LATER THIS MONTH.
THEY RAISED BY 75 BASIS POINTS A FEW WEEKS AGO, THE BIGGEST SINCE
FEW WEEKS AGO, THE BIGGEST SINCE
1994, THAT’S BACK WHEN THEY WERE
GOTTEN KNOCKED DOWN BUT IS IT
TOO LATE FOR THIS ECONOMY TO GET
BACK UP AGAIN AND TACKLE
INFLATION?
ARE WE LOOKING AT A RECESSION
SOONER THAN LATER?
JOINING ME NOW, BUT PROFESSOR OF
ECONOMICS MANHATTAN FOX NEWS
CONTRIBUTOR, BRIAN BRENBERG.
>> HEY, HOW ARE YOU?
JIMMY: I’M GOING TO BEGIN ON
PERSONAL QUESTION, WHO DO YOU
TRUST MORE WITH INFLATION?
JOE BIDEN OR TOM BRADY?
[LAUGHTER]
>> TOM BRADY GETS WRITE BETTER
RESULTS WITH INFLATION, I THINK
HE’S THE GUY TO GO WITH YOU ON
THIS ONE.
HERE’S THE THING, WE GOT A BIG
PROBLEM WITH INFLATION, THE BIGGEST PART OF THE PROBLEM IS
BIGGEST PART OF THE PROBLEM IS
IT’S GETTING OUT OF CONTROL, WE
CAN’T PREDICT WHERE IT’S GOING.
THIS MONTH AND THE EXPECTATIONS
WERE 8.8% INFLATION, WE GOT 9.1.
EVERYBODY WAS THROWN BY THAT AND
THE REASON IS BECAUSE INFLATION
IS GOING BROAD-BASED, NOT JUST
GAS OR FOOD, IS EVERYTHING.
THAT’S OUT OF CONTROL.
JIMMY: LET ME ASK YOU THIS
THOUGH, DO YOU THINK ON SOME
LEVEL IT WOULD BENEFIT BIDEN TO
FIRE SOMEBODY AND PUT DISTANCE
BETWEEN HIMSELF AND HIS ECONOMIC
MISMANAGEMENT?
WOULD BUY BACK A LITTLE CREDIT
GUILTY BECAUSE I DON’T THINK HE
HAS IT RIGHT NOW BY TRYING TO
DEFY THIS AS MAXIMUM PRICES THAT
IS.
>> I DON’T KNOW WHAT HE’S
THINKING WITH THIS TEAM EXCEPT
THAT THEY ARE THE SAME
IDEOLOGUES WHO GOT HIM INTO
OFFICE IN THE FIRST PLACE IN IS
THEIR PLAN HE’S RUNNING FROM THE
VERY BEGINNING.
FOR THE PSAKI OF THE AMERICAN
PEOPLE, HE SHOULD FIRE SOMEBODY
IN THE AMERICANS NO THAT HE’S
ACTUALLY SERIOUS ABOUT DOING
SOMETHING HERE, GET A DIFFERENT TEAM IN PLACE THAT CAN GIVE HIM
TEAM IN PLACE THAT CAN GIVE HIM
A LITTLE COVER TO TRY SOMETHING
DIFFERENT.
HE’S GOT TO DO SOMETHING
DIFFERENT ON ENERGY, HE’S GOT TO
DO SOMETHING DIFFERENT ON
SPENDING AND HE’S GOT TO DO
SOMETHING DIFFERENT ON COVID
POLICY.
HE KEEPS EXTENDING THE PANDEMIC
EMERGENCIES WHICH ARE KEEPING WORKERS ON THE SIDELINES.
WORKERS ON THE SIDELINES.
HE’S GOT TO STOP THAT IF HE
WANTS TO DO SOMETHING ABOUT THE
LABOR SHORTAGE AND START TO MAKE
IT EASIER FOR BUSINESSES TO
BRING DOWN THEIR PRICES.
THEY CANNOT DO THAT RIGHT NOW.
JIMMY: SOMETHING NO ECONOMIC
ANALYSIS POINTS TO, NO ONE IS
MENTIONING HOW MUCH JOE BIDEN
HAS DRIVEN UP THE PRICE OF
BREAKFAST TACOS.
WE CAN DO ANYTHING.
THE SILVER LINING, WE DISTILL A
LOT OF POSITIVE ENERGY, YOU
THINK THERE’S ANY WORLD WHERE THIS TYPE OF INFLATION LEADS TO
THIS TYPE OF INFLATION LEADS TO
AN END TO THE SPENT ECONOMICS
WE’VE SEEN FOR FUTURE
GENERATIONS?
I KNOW THIS ADMINISTRATION ISN’T
GOING TO GET UNDER CONTROL BUT
IS THERE A WORLD WHERE PEOPLE
TAKE A LESSON FROM THIS AND
MAYBE WE BENEFIT DOWN THE ROAD?
WE SURE ARE NOT BENEFITING RIGHT
NOW.
>> IT’S A WAKE-UP CALL.
IF YOU’RE UNDER 50 OR YEARS OLD,
YOU HAVEN’T LIVED THROUGH
INFLATION BEFORE, A
HYPOTHETICAL.
FOLKS LIKE THAT CAN LISTEN TO
AOC TALK ABOUT THE GREEN NEW
DEAL AND MODERN MODERN MONETARY
THEORY BUT ONCE YOU HAVE LIVED
THROUGH INFLATION, YOU SAY NEVER
AGAIN.
WE DON’T WANT TO DO THIS.
WHAT I LIKE RIGHT NOW IS
AMERICANS ARE GETTING A REAL
WORLD EDUCATION AND I KNOW
PEOPLE ARE PAYING ATTENTION
BECAUSE THEY ARE GROCERY
SHOPPING AND BUYING THINGS AND
CAN SEE WHAT’S HAPPENING.
THIS IS THE KIND OF WAKE-UP
CALL, THE REVIVAL IN SAINT
ECONOMIC THINKING THAT COULD BE
VERY GOOD FOR AMERICA IF WE CAN
GET SOMEBODY TO TAKE JOE BIDEN’S
PLACE AND OFFER THE LEADERSHIP
HE’S FAILED TO PROVIDE.
JIMMY: SO TRUE.
MY BIGGEST FRUSTRATION AGAIN AND
AGAIN IS THIS WAS UNAVOIDABLE.
HE TOLD ME THAT ON THE RADIO, WE
DIDN’T NEED TO SPEND THE MONEY
WE SPENT COMING OUT OF THE
PANDEMIC.
TO QUOTE RONALD REAGAN FROM A
GOVERNMENT IS NOT THE SOLUTION
OF THE PROBLEM, THE GOVERNMENT
IS THE PROBLEM.
IN THIS CASE, THE GOVERNMENT
CAUSED THE PROBLEM AND NOW HE’S
TRYING TO RELY ON GOVERNMENT TO
SOLVE IT WHICH I GOT TO TELL
YOU, THAT’S THE EQUIVALENT OF
TRYING TO DRINK YOURSELF SOBER,
IT NEVER WORKS ONCE IN COLLEGE
EVER.
>> I’M IMPRESSED QUOTED TRUMP
AND RONALD REAGAN IN THE SAME
ENERGY. [LAUGHTER]
WELL DONE ON THAT.
I WANT TO HEAR YOUR PERKS.
JIMMY: ONE OF THE PERKS OF
DRESSING LIKE A WAITER, YOU GET
INTO INTERESTING EVENTS SO I
FROLIC WITH DIFFERENT CROWDS BUT
BACK TO YOUR BRILLIANT POINTS, YOU HAVE DEGREES AND STUFFS.
YOU HAVE DEGREES AND STUFFS.
[LAUGHTER]
>> THE PHILOSOPHICAL BASIS FOR
THE BIDEN ADMINISTRATION IS THE
ONLY SMART PEOPLE IN AMERICA WHO
CAN LEAD US INTO THE FUTURE OF
THE PEOPLE IN D.C.
WHAT WE ARE LEARNING TODAY IS
THAT’S EMPHATICALLY NOT TRUE.
AMERICA IS BEST ONE IS THE
PEOPLE AT THE BOTTOM TAKING
INITIATIVE BUT THEY NEED STABLE
PRICES TO DO IT.
JIMMY FAILLA, WE ARE GOING TO
PROSPER, THE BIDEN
ADMINISTRATION, A U-TURN OR GET
OUT OF OFFICE BECAUSE AMERICANS
CAN STILL SUCCEED AND THRIVE BUT
WE’VE GOT TO DO IT A DIFFERENT
WAY AND IT STARTS WITH GETTING