it. democrats held a primary debate in new york city last night. they had no choice. both the candidates in this race are incumbents. thanks to a court decision that redrew congressional bounds, they re running against each other for the same seat. that s a lot of fun. for 30 years, carol maloney has represented the upper east side of manhattan. over the same period, jerry madler has represented the west side. rather than do the obvious thing and retire, the two are competing for the newly-drawn 12th congressional district, combining the upper east side and upper west side of manhattan. it turns out to be the richest district in american politics. there s a lot at stake. we forced ourselves to watch the debate. we were richly rewarded for doing that. we ll start with the headlines in the debate, which you ve already likely seen. neither one of these people is cheerleading for joe biden. here s maloney. who president biden run again in 2024? yes. mr. nadler? too early
plus the crypto crash deepens. could it spell disaster for el salvador s multi million dollar gamble on bitcoin? we start in the us where the federal reserve has announced the biggest rise in borrowing costs in 28 years. the fed raised its key interest rate by three quarters of a percent and signalled more big increases are on the cards. as our correspondent michelle fleury reports, from washington, it s battling to control the worst inflation in four decades. intensifying its five figure inflation which is currently at a a0 year high reserve raised its key interest rate by three quarters of a percentage point to a range of 1.5 to one and three quarters of a percent, move that will push up borrowing costs for and company. us interest rates haven t been hiked by this much in one go since bill clinton was in the white house in 199a, the size of the mood something federal chair reflected on during his press conference. clearly the 75 basis point is an unusually large one a
we start here in the uk where later today, prime minister borisjohnson will promise new measures to rejuvenate the flagging economy. as part of a visit to the northern county of lancashire, he will pledge reforms to help with the soaring cost of everything, quote, from food to energy to childcare to transport and housing . it comes as fuel prices hit a new record, rail workers threaten strike action over pay, and the oecd think tank warns the uk will be the worst performing economy in the developed world. our business editor simonjack reports. it s a shocking site but maybe not for long. fuel prices continued their relentless march upwards with the average price of unleaded seeing its biggestjump to one pound 78 but many are paying more. i pen; but many are paying more. i pay £2 a litre- but many are paying more. i pay £2 a litre- i but many are paying more. i pay £2 a litre. i do but many are paying more. i pay £2 a litre. i do deliveries, - £2 a litre. i do de
pipe. we re going to hear from him in just a few minutes. and we are headed into the culture corner, y all. our culture critics weighing in on the rico charges for atlanta rappers. i m simone sanders and i have something to say. at least ten people are dead, according to authorities after a shooter opened fire at tops course around buffalo new york on saturday. the shooter did so in a zip code or nearly 80% of the residents are black. the shooter is now in custody and an apparent manifesto treated to him appeared online in the days before the attack. now this manifesto, it is races racist diatribes and antisemitic memes and frequently invokes the white supremacists great replacement theory. which has motivated other shootings in the past. now the great replacement theory falsely claims that jews are working to replace white people with people of color. with me now, i want to bring our first guest as former u.s. attorney general eric holder. he is the author of the new book,
Us President Joe Biden spoke with the two women after their release on friday, telling them that their government will fully support them as they recover and heal. And Secretary Of State Antony Blinken said hes relieved the women have been released, but reminded reporters that many others are still being held. Theres still ten additional americans who remain unaccounted for in this conflict. We know that some of them are being held hostage by hamas, along with an estimated 200 other hostages held in gaza. They include men, women, young boys, young girls, elderly people from many nations. Every single one of them should be released. Our correspondent Barbara Plett usher brings us more from inside the State Department. The release of the hostages disrupted the day here at the State Department. We were sitting down for the Daily Briefing and then we were told that it would be delayed for two hours because of Breaking News. Now, they didnt say what the Breaking News was, but we knew what i