Hello there Chuck Todd, this is the Chuck Todd cast.

So the Federal Reserve is raising its interest rate by 3.4% of the percentage point.

Third time this year they've raised rates.

They have telegraphed this for at least a month.

So it's one of those semi predictable moments we have in this uncertain economy.

It is their latest attempt to cool down inflation without growing growth into deep negative

growth.

So, some would argue there's really only two choices the Fed has.

Increase the money supply or do what they can to drive us into recession.

Being a little facetious, meanwhile the White House is continuing to push the message to

the economy and it's strong.

They point to a hot jobs market, Treasury Secretary Janet Yellen said as much to me on Sunday.

And despite the commonly held view that two quarters of negative growth means that we are

basically in a recession, threshold that we are widely expected to hit this week don't

call it a recession.

So it says the Biden White House.

My guest today is Ben White.

He's political pros, chief economic correspondent and can make some sense.

The way Pete Williams makes sense of the Supreme Court to people, Ben White, you seem to make

sense to sort of because I feel like you do a good job of translating econ speak to

English as I say.

So let me ask the question this way.

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