Almost $100B out of $3.5T of pandemic relief funds have been stolen since early 2020. More than $2.3B in stolen funds have been recovered so far, resulting in the arrest of more than 100 suspects.

Matt is joined by economist Julia Coronado to talk about inflation, markets, and employment in the pandemic recovery economy. They discuss housing, new and used car markets, and possible strategies toward achieving full employment.

Personal income decreased $3.21 trillion (13.1 percent) in April according to estimates released today by the Bureau of Economic Analysis (tables 3 and 5). Disposable personal income (DPI) decreased $3.22 trillion (14.6 percent) and personal consumption expenditures (PCE) increased $80.3 billion (0.5 percent).