Program:  Fox Now

Date:  6/3/2022

Station:  Online

Time:  10:37AM

REPORTER: Unemployment is down a little and the price of gas is up a lot. So what’s that mean for the economy?

It’s complicated. There’s already early signs that inflation is peaking. But if you if you look at numbers such as the number of quits or outstanding jobs, jobs available, they are actually starting to peak and roll over.

REPORTER: Economists are worried because since the fifties, inflation over 4%, combined with unemployment under 5%, has meant the US economy was headed for a recession within two years. Inflation now stands at 8.3% and the May jobs report out Friday is expected to show the unemployment rate dipped to three and a half percent.

SCOTT MARTIN: The data in the economy is not awesome. It’s not really horrible. So I think we’ve got kind of a soft landing slowdown definitely upon us.

STEVE FORBES: When the Federal Reserve talks about a soft landing, you better put your seat along.

REPORTER: Drivers are looking for relief. The national average for a gallon of regular hit 4.72 on Thursday.

CONSUMER: Everything is sky high where I used to fill my tank for $50. Now it’s $80.

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