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Market Mondays

Market Report: THE CURRENT STATE OF THE ECONOMY with STEVE LIESMAN

Market Mondays

EYL Network

Investing, Entrepreneurship, Business

5.04.1K Ratings

🗓️ 14 October 2022

⏱️ 14 minutes

🧾️ Download transcript

Summary

In this Market Report we Steve Liesman talked about the current state of the economy, inflation, and unemployment. #cnbc #steveliesman #earnyourleisure 


Link to episode: https://youtu.be/BK3ggdkewT4


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Transcript

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0:00.0

First, the current state of the economy.

0:03.0

You know, people are very scared right now.

0:06.4

Inflation is high.

0:08.0

You know, there's a lot of uncertainty.

0:10.5

And that that goes over to the stock market.

0:12.5

So what are your thoughts on the current state of the economy?

0:16.0

I was hoping you were going to ask me to explain why the Giants are three and one or if everyone is going to be two.

0:21.5

We'll get this, rather than the economy.

0:26.0

I think the economy is absolutely historic right now.

0:32.0

And there's a lot of stuff going on and we keep wanting to kind of shove the present into molds of histories of the past.

0:41.0

But nothing really quite fits.

0:44.0

Right now, we're recovering from a pandemic and that process is still going on, not just to one in America, but globally.

0:54.0

And you shoved a lot of money in people's pockets and they still seem to have some money to spend.

1:00.0

And so you have this inflation problem, which is not quite as bad as we had 40 years ago in the 1980s.

1:09.0

But you do have the Federal Reserve raising interest rates trying to slow the economy.

1:13.0

Everything would be easy to understand as a terrible, terrible economy.

1:18.0

If we weren't doing like hundreds of thousands of new jobs every month and that kind of gets to my other side of the story.

1:26.0

We keep telling this one side of the story, oh, there's inflation. There must be a recession.

1:31.0

But we can't be having a recession when we're doing three or four hundred thousand new jobs every month.

1:37.0

And well, why is that? It's because the economy is still coming back from the pandemic there.

1:43.0

We just are about two months ago, reach the level of jobs that we've lost in the pandemic.

1:49.0

And we went above it, but there's still some industries like leisure and hospitality, state and local government workers, teachers in this country nursing that are well below where they are.

...

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