This is CBS I on the world with John Bachelor.

Here's John Bachelor.

I welcome back, Elizabeth Peek, a week away, and I worry that I was falling behind the markets, the economy, and especially the Federal Reserve.

Liz, welcome back for Fox News, a columnist for The Hill, a columnist,

much on Fox Business.

I call it Jerome Powell's dilemma.

Mr Powell since last year has repeatedly said there are going to be three cuts.

Three cuts are coming. There's a calendar year. Twelve months, that's all he's got.

January, February, March are gone. We do not believe

April is going to be a cut month, nor do we have any confidence that it'll be May. June was the most recent whisper on Wall Street,

but he's running out of calendar years. So how do we put three cuts in addition to the fact that the news of the American economy keeps

looking prosperous.

Good evening to you, Liz.

Good evening, John.

Well, I don't think J-Pall's biggest challenge is the number of meetings left.

I think the biggest challenge is that even as he has ratcheted up interest rates in a very

aggressive fashion hoping to slow down the economy, it hasn't worked.

And why hasn't it worked?

Because at the other end of Pennsylvania Avenue, Joe Biden and Congress continue to spend so much money that they are basically

inflating the economy. I mean that that is the reality and early on in his

tenure and during the COVID aftermath,

J Powell was begging Congress early in that,

...