Closing Bell: Jobs Jolt, Fmr. Treasury Secretary Jack Lew On Inflation & Winging It 8/5/22

A volatile day on Wall Street as investors weighed whether the much stronger than expected July jobs report means the Federal Reserve could hike interest rates more aggressively at its next meeting. Mastercard Chief Economist for the U.S. Michelle Meyer says the Fed needs to do more to cool inflation in the wake of that hot report, but LinkedIn Chief Economist Karin Kimbrough says she sees some small cracks forming in the labor market. Former Treasury Secretary Jack Lew explains why he is endorsing the new Inflation Reduction Act and why he thinks it will effectively fight inflation. And Wingstop CEO Michael Skipworth says everybody may be talking about food inflation, but his company is actually benefitting from falling chicken wing prices.