‘A Huge Red Flag’: Could the Inflation Reduction Act Do More Harm Than Good?

Following an intense weekend-long ‘vote-a-rama’, Senate Democrats passed the Inflation Reduction Act by a 51-50 vote on Sunday — with Vice President Harris breaking the party-line tie. The massive spending bill, which aims to put more than $400 billion towards climate change, prescription drug prices, and lowering inflation, has sparked concern in Republicans who fear that excess spending in the face of a recession could be devastating for the U.S. economy and American families. Iowa Republican Congresswoman Ashley Hinson joins the Rundown to discuss why hefty government spending is “an absolutely terrible idea’ following the U.S. economy contracting for two consecutive quarters. She also shares how continued inflation is impacting Iowans and how she predicts Republicans will perform in the Midterms.

Despite growing talks of an impending recession following two consecutive quarters of economic growth and high inflation rates, the job market is still going strong. The July jobs report was released last week announcing the creation of 528,000 new jobs in the workforce coupled with the lowest unemployment rate in 50 years. FOX Business Correspondent Gerri Willis joins the Rundown to explain which industries are seeing growth and why, how the Fed will respond with its fight against inflation, and how shrinkflation is plaguing consumers across America.

Plus, commentary by Former Acting DHS Secretary and President of Wolf Global Advisors, Chad Wolf.