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Jill on Money with Jill Schlesinger

Recession Fears

Jill on Money with Jill Schlesinger

Audacy

Education, Investing, Business, Self-improvement

4.61.9K Ratings

🗓️ 13 June 2022

⏱️ 9 minutes

🧾️ Download transcript

Summary

Gas prices in the nation are at a never-before-seen level and fears of a recession don't seem to be slowing down anytime soon. I joined CBS Mornings to help make sense of the latest economic data.

Have a money question? Email us, ask jill [at] jill on money dot com.

Please leave us a rating or review in Apple Podcasts.

"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Transcript

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0:00.0

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0:45.5

Welcome to the Jill on Money Show. It's Monday, June 13th. And if you missed our weekend shows,

0:56.5

you really should check them out. My interview with Glenda Testone, who is the executive director

1:02.2

of the LGBTQ Center in New York City. I kind of didn't want to be a buzzkill for that interview,

1:08.0

so I didn't want to talk about the Rotten inflation report that came out on Friday morning.

1:13.3

So let me start your week off with that rotten news. We did get a new report on inflation.

1:18.9

It did increase by 8.6% from a year ago, up 6% at the core level, removing food and energy.

1:27.4

It was way worse than expected. And there was really no hiding. It was kind of all over the report

1:33.8

where we saw big, huge gains, specifically, you know, food and gas, of course. But, you know,

1:39.9

we saw that the cost of shelter up five and a half percent, the largest 12 month increase in February

1:45.6

of 1991. And every single part of the energy index of the food index, it was just, it was rotten.

1:54.4

And stocks tumbled as a result. And now we are once again talking about a bear market for the

1:59.6

SMP 500. When we closed on Friday, we were at 3900, still a little bit above that may low, but we are

2:07.6

now 18.76% below the peak that was reached on January 3rd. Nasix already in a bear market.

...

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