September 2, 2025 • 8 mins
America's Money Answers Man joined Todd Walker on Tuesday to discuss the latest inflation numbers and more.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
America's money answers Man, Jordan Goodman, it checks in now,
and he has some fresh economic numbers, more specifically inflation
numbers to pass along to us. Jordan, what do you have?
Speaker 2 (00:12):
So the annual rate of inflation was at two point
nine percent, up from two point seven percent. And what
you're starting to see is the higher prices from tariffs
working their way into consumer products across the board, and
it's going to be more. So it's definitely hotter than
the fans looking for. They want two percents go in
the wrong direction. Has been going up. Also, last week
(00:35):
we had the gross domestic product revised upward from three
percent growth to three point three percent growth and more
consumer spending and fewer imports. So that was considered a positive,
which made the stock market hit all time market highs,
both the S and P and the Dow. But there's
just definite concern that prices are rising. And we saw
(00:59):
it a week a month ago in the producer price
in decks and now we're starting to see higher prices
from tariffs in the consumer price in decks.
Speaker 1 (01:06):
And when you think about that growth number, Jordan, I
know that can offset other bad things or mitigate them,
and the way to maybe grow yourself out of a deficit,
spending and such. Really need to get that number. I
guess in the best case scenario would be four percent.
Is that when's the last time we had that.
Speaker 2 (01:28):
We've had four percent under Obama we had four percent,
So it's possible that does help with the deficit, but
we're spending so much anyway, the deficit just keeps going up.
So overall, for the first half of the year, the
growth rate of the economy was one point four percent.
Remember we had a very weak first quarter. To some extent,
(01:48):
the reason the second quarter was stronger was a lot
of people were buying things in anticipation of the tariffs.
They were kind of buying ahead cars and all kinds
of other things. So I think to some extent the
third quarter is going far less growth than three point
three percent.
Speaker 1 (02:03):
So that doesn't all sound all that great, Jordan. Do
you have any good news here, some good analysis anything.
Speaker 2 (02:11):
Well, the stock markets continue to hit ultime. Why dies?
So they certainly like it. No matter what goes on,
they seem to keep moving up. Stocks and the poster
boy for this market has been in video and they
came out last week with their sales and profits up
fifty six percent on already very big numbers, which kind
(02:31):
of met the very high expectations for them, and that
kind of brings along all the other technology companies with it,
these companies like Microsoft and Google, and they're all buying
tens of billions of dollars worth of Nvidio chips to
build out these huge data centers. So that's a huge
growth area of the economy right now.
Speaker 1 (02:52):
Jordan Goodman is what us. He is America's money answers man.
And we of course have the ongoing drama at the
Federal Reserve, not just whether they'll lower interest rates next month,
but the attempt by Trump to oust one of the
members that would be Lisa Cook. And they've pegged her
(03:13):
with some mortgage fraud, did they say? And Trump has
fired her and she's suing. So that's not always a
great thing, Jordan, it's.
Speaker 2 (03:23):
Not a great thing. It's unprecedented. In fact, she is
defending herself trying to get an injunction from being fired
by President Trump. Basically, he's saying that she committed mortgage
fraud by filing mortgages in two different states, saying they
were both her primary residents. She's saying it's a clerical
(03:43):
error and there's no cost to fire her over this thing.
So we'll have to see what happens in the courts.
But it's certainly a mess. And this is all coming
into the September meeting and it's not clear if Lisa
Cook's going to be able to be on the board
to make a decision or not on how this whole
case comes out. FED Chairman Powell under a lot of
(04:05):
pressure here. Trump clearly wants lower interest rates. The previous
week at Jackson Hole, Powell kind of hinted that they're
going to lower interest rates by our quarter point. But
those latest inslation numbers we just saw maybe make give
him pause. And we'll have to say, it's all a
big drama right now, what's going to happen with it?
Speaker 1 (04:27):
Said for sure? And I guess really they almost have
to follow through with a rate cut after really sending
up everything except you know, texting everybody to say they
were going to right.
Speaker 2 (04:41):
Well, he wasn't that clear the way it was taken.
He said, you know, we're considering the possibility that we
might be ready to lower I mean, he didn't say
we're going to cut rates. He never says anything like that,
but the way it was interpreted and that's why the
stock market took off, is they're going to cut rates.
I mean, the argument for cutting rates is that they've
held them high for quite a while now, five straight
(05:02):
meetings without a rate cut, and the employment market is
clearly getting worse. Remember we had that terrible unemployment report before,
So that's kind of the argument for cutting rates the rate.
The argument for not cutting rates is what we just
heard about, with the inflation being hotter than they wanted
and the more inflation coming because of the taffs. So
(05:23):
that's the big offset that they have to decide. And
we're not clear if Lisa Cook's going to be in
that board meeting or not when that happens in about
two weeks.
Speaker 1 (05:33):
We're visiting with Jordan Goodman, America's Money Answers Man. Hit
him up, but email Jordan at Money answers dot Com.
New home sales, I guess fell again in July. It's
not exactly a seller's market right now. With the prices
remaining high and mortgage rates high as well. People are
(05:53):
if they're in the market, maybe they're holding off thinking
could be a bit of an interest rate cut coming.
They want to bring price down. So it's a tough
market right now.
Speaker 2 (06:04):
Well it is. I mean, we've had a very weak
in real estate market, both the new homes and existing homes.
People would like to buy it as tremendous demand, but
there's not the ability to buy because the prices are
too high, and the mortgage rates, which are maybe six
and a half to seven percent, are higher than most
people can afford. So that has an overall negative impact
on the economy because when people don't buy homes, they
(06:26):
don't buy furniture and carpeting and TVs and all the
things that go inmost those homes. To some extent, pedal
Trump's trying to get interest rates down by doing what
he's doing at the FED. But I don't think interest
rates and mortgages are going to come down significantly the
rest of this year.
Speaker 1 (06:42):
Speaking of homes and real estate, there's something going on
in China Jordan China. Ever. Grand I Guess is the
largest real estate company in China. They are having issues.
They give us the story, Well they're having more of
an issue.
Speaker 2 (06:58):
They got delisted from the stock exchange. This was the
largest company building particularly apartment buildings in China during the
boom years, and they just took on much too much debt.
Many many of these projects have been abandoned. They have
thirteen hundred projects that are now incomplete in two hundred
(07:22):
and eighty cities, with hundreds of thousands of people who
would put money down on these apartments and now are
not able to close on them or move into them
because they're unfinished. So Evergrand went into bankruptcy. Now it's
been delisted from the stock Exchange. There are other real
estate developers as well, but by far China, Evergrands has
(07:44):
been the largest. And it's just a sign of how
weak the real estate market is in China. That had
been one of the major sources of growth in the
Chinese economy. You can imagine all these huge complexes being
put up in all the concrete and copper and everything
it goes into them. All that came to a crashing
halt when they just got overbuilt and so and so
(08:05):
it's we had a bad real estate situation in two
thousand and two thousand and nine, this is far worse
what they've gotten show now it's going to take decades
to unravel from these They call them ghost cities because
they're half built, nobody's in them.
Speaker 1 (08:19):
Well, it was a fake demand that was mandated by
the communist dictator government and to prop up their fake economy,
and now it's crashing down. So interesting things with Jordan Goodman.
You wanted to add something.
Speaker 2 (08:34):
No, that's true, Okay. It has a big impact on
the world economy when this kind of thing happens. And
this is just the latest sign of how long it's
going to take for the Chinese real estate.
Speaker 1 (08:43):
Market to recover, no doubt, Jordan. As always, we appreciate
you checking in with us.
Speaker 2 (08:48):
All righty, take it, Todd
America's money answers Man, Jordan Goodman, it checks in now,
and he has some fresh economic numbers, more specifically inflation
numbers to pass along to us. Jordan, what do you have?
Speaker 2 (00:12):
So the annual rate of inflation was at two point
nine percent, up from two point seven percent. And what
you're starting to see is the higher prices from tariffs
working their way into consumer products across the board, and
it's going to be more. So it's definitely hotter than
the fans looking for. They want two percents go in
the wrong direction. Has been going up. Also, last week
(00:35):
we had the gross domestic product revised upward from three
percent growth to three point three percent growth and more
consumer spending and fewer imports. So that was considered a positive,
which made the stock market hit all time market highs,
both the S and P and the Dow. But there's
just definite concern that prices are rising. And we saw
(00:59):
it a week a month ago in the producer price
in decks and now we're starting to see higher prices
from tariffs in the consumer price in decks.
Speaker 1 (01:06):
And when you think about that growth number, Jordan, I
know that can offset other bad things or mitigate them,
and the way to maybe grow yourself out of a deficit,
spending and such. Really need to get that number. I
guess in the best case scenario would be four percent.
Is that when's the last time we had that.
Speaker 2 (01:28):
We've had four percent under Obama we had four percent,
So it's possible that does help with the deficit, but
we're spending so much anyway, the deficit just keeps going up.
So overall, for the first half of the year, the
growth rate of the economy was one point four percent.
Remember we had a very weak first quarter. To some extent,
(01:48):
the reason the second quarter was stronger was a lot
of people were buying things in anticipation of the tariffs.
They were kind of buying ahead cars and all kinds
of other things. So I think to some extent the
third quarter is going far less growth than three point
three percent.
Speaker 1 (02:03):
So that doesn't all sound all that great, Jordan. Do
you have any good news here, some good analysis anything.
Speaker 2 (02:11):
Well, the stock markets continue to hit ultime. Why dies?
So they certainly like it. No matter what goes on,
they seem to keep moving up. Stocks and the poster
boy for this market has been in video and they
came out last week with their sales and profits up
fifty six percent on already very big numbers, which kind
(02:31):
of met the very high expectations for them, and that
kind of brings along all the other technology companies with it,
these companies like Microsoft and Google, and they're all buying
tens of billions of dollars worth of Nvidio chips to
build out these huge data centers. So that's a huge
growth area of the economy right now.
Speaker 1 (02:52):
Jordan Goodman is what us. He is America's money answers man.
And we of course have the ongoing drama at the
Federal Reserve, not just whether they'll lower interest rates next month,
but the attempt by Trump to oust one of the
members that would be Lisa Cook. And they've pegged her
(03:13):
with some mortgage fraud, did they say? And Trump has
fired her and she's suing. So that's not always a
great thing, Jordan, it's.
Speaker 2 (03:23):
Not a great thing. It's unprecedented. In fact, she is
defending herself trying to get an injunction from being fired
by President Trump. Basically, he's saying that she committed mortgage
fraud by filing mortgages in two different states, saying they
were both her primary residents. She's saying it's a clerical
(03:43):
error and there's no cost to fire her over this thing.
So we'll have to see what happens in the courts.
But it's certainly a mess. And this is all coming
into the September meeting and it's not clear if Lisa
Cook's going to be able to be on the board
to make a decision or not on how this whole
case comes out. FED Chairman Powell under a lot of
(04:05):
pressure here. Trump clearly wants lower interest rates. The previous
week at Jackson Hole, Powell kind of hinted that they're
going to lower interest rates by our quarter point. But
those latest inslation numbers we just saw maybe make give
him pause. And we'll have to say, it's all a
big drama right now, what's going to happen with it?
Speaker 1 (04:27):
Said for sure? And I guess really they almost have
to follow through with a rate cut after really sending
up everything except you know, texting everybody to say they
were going to right.
Speaker 2 (04:41):
Well, he wasn't that clear the way it was taken.
He said, you know, we're considering the possibility that we
might be ready to lower I mean, he didn't say
we're going to cut rates. He never says anything like that,
but the way it was interpreted and that's why the
stock market took off, is they're going to cut rates.
I mean, the argument for cutting rates is that they've
held them high for quite a while now, five straight
(05:02):
meetings without a rate cut, and the employment market is
clearly getting worse. Remember we had that terrible unemployment report before,
So that's kind of the argument for cutting rates the rate.
The argument for not cutting rates is what we just
heard about, with the inflation being hotter than they wanted
and the more inflation coming because of the taffs. So
(05:23):
that's the big offset that they have to decide. And
we're not clear if Lisa Cook's going to be in
that board meeting or not when that happens in about
two weeks.
Speaker 1 (05:33):
We're visiting with Jordan Goodman, America's Money Answers Man. Hit
him up, but email Jordan at Money answers dot Com.
New home sales, I guess fell again in July. It's
not exactly a seller's market right now. With the prices
remaining high and mortgage rates high as well. People are
(05:53):
if they're in the market, maybe they're holding off thinking
could be a bit of an interest rate cut coming.
They want to bring price down. So it's a tough
market right now.
Speaker 2 (06:04):
Well it is. I mean, we've had a very weak
in real estate market, both the new homes and existing homes.
People would like to buy it as tremendous demand, but
there's not the ability to buy because the prices are
too high, and the mortgage rates, which are maybe six
and a half to seven percent, are higher than most
people can afford. So that has an overall negative impact
on the economy because when people don't buy homes, they
(06:26):
don't buy furniture and carpeting and TVs and all the
things that go inmost those homes. To some extent, pedal
Trump's trying to get interest rates down by doing what
he's doing at the FED. But I don't think interest
rates and mortgages are going to come down significantly the
rest of this year.
Speaker 1 (06:42):
Speaking of homes and real estate, there's something going on
in China Jordan China. Ever. Grand I Guess is the
largest real estate company in China. They are having issues.
They give us the story, Well they're having more of
an issue.
Speaker 2 (06:58):
They got delisted from the stock exchange. This was the
largest company building particularly apartment buildings in China during the
boom years, and they just took on much too much debt.
Many many of these projects have been abandoned. They have
thirteen hundred projects that are now incomplete in two hundred
(07:22):
and eighty cities, with hundreds of thousands of people who
would put money down on these apartments and now are
not able to close on them or move into them
because they're unfinished. So Evergrand went into bankruptcy. Now it's
been delisted from the stock Exchange. There are other real
estate developers as well, but by far China, Evergrands has
(07:44):
been the largest. And it's just a sign of how
weak the real estate market is in China. That had
been one of the major sources of growth in the
Chinese economy. You can imagine all these huge complexes being
put up in all the concrete and copper and everything
it goes into them. All that came to a crashing
halt when they just got overbuilt and so and so
(08:05):
it's we had a bad real estate situation in two
thousand and two thousand and nine, this is far worse
what they've gotten show now it's going to take decades
to unravel from these They call them ghost cities because
they're half built, nobody's in them.
Speaker 1 (08:19):
Well, it was a fake demand that was mandated by
the communist dictator government and to prop up their fake economy,
and now it's crashing down. So interesting things with Jordan Goodman.
You wanted to add something.
Speaker 2 (08:34):
No, that's true, Okay. It has a big impact on
the world economy when this kind of thing happens. And
this is just the latest sign of how long it's
going to take for the Chinese real estate.
Speaker 1 (08:43):
Market to recover, no doubt, Jordan. As always, we appreciate
you checking in with us.
Speaker 2 (08:48):
All righty, take it, Todd
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