Slow job growth could be one reason why markets worldwide took a nosedive on Monday. At the beginning of August, the U.S. jobs report showed sluggish growth in July.

However, the stock market has been stabilizing. And for those of us in Arizona, things are looking up. At least a little. Inflation is cooling - though that doesn't mean prices are going down, except for gas prices. Those have dropped almost 40 cents. For more than a year wages have outpaced inflation.

So why do Arizonans, and most Americans, still feel a pinch in their pocketbooks? Groceries, housing, childcare, health care, everything feels so much more expensive. Why doesn't the good news feel like it's good?

In this episode of The Gaggle, hosts Ron Hansen and Mary Jo Pitzl sat down with Jared Bernstein, the chairman of the White House Council of Economic Advisers, on Friday, August 2, to discuss the state of the U.S. economy, how it's affecting Arizonans, what special challenges are state is facing, and what the Biden Administration is trying to do about.

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