Joining the discussion are Josh Wingrove, Bloomberg's White House Reporter, who shares insights on the Biden administration blocking a steel deal citing national security, and William Lee, Chief Economist at the Milken Institute, who analyzes U.S. retail inflation trends. They delve into the complex dynamics of the $1.4 billion merger between Nippon Steel and U.S. Steel, examine investor reactions, and discuss the broader implications for monetary policy as the Fed prepares to navigate rising costs and economic challenges.

Julian Emanuel says it's a market correction not an end to bull run. Amanda Lynam discusses early stages of distress cycle. William Lee talks about China needing a social safety net. Wendy Schiller discusses Gov. Ron DeSantis' position in GOP debate with Trump leading in polls.

William Lee, Chief Economist at the Milken Institute, shares insights on the recent rejection of Mondelez's takeover bid for Hershey. He discusses the implications of U.S. CPI data, including its impact on inflation and personal finance strategies. The conversation covers the complexities of the Federal Reserve's inflation targets and the ongoing challenges in the housing market. Lee and the hosts delve into economic disparities and the importance of a skilled workforce, linking economic trends to broader fiscal challenges.