into bear market territory yesterday. economists predict the fed will raise interest rates again in another attempt to battle rising inflation. cnn business correspondent solomon is here with me now. this ppi report, why should people at home care about this? what s it matter for us? it s interesting because ppi doesn t get as much attention as the consumer price index, but it s really important because it s factory level inflation, what producers are experiencing, and we know what companies are feeling, we ll likely see a few months down the line in terms of consumer prices. even though we did see slight moderation in categories like food, the topline number is troubling because we know after friday s report that there were no signs of moderation, that there were signs of acceleration in inflation and what we have now with this report is a sign perhaps of more pain to come down the road. okay. so, now, tomorrow, expecting this big announcement. on how much, by how much t
another prisoner swap? then, the same kind of technology used for the best covid vaccines, mrna, is showing promise in treating other conditions, including some cancers. welcome to the lead. i m jake tapper. we start with our money lead. prices are up and the stock market is down. president biden is trying to put a positive spin on the economy, today insisting that tackling the worst inflation the u.s. has seen in decades remains a top priority. during a speech in front of the afl-cio in philadelphia, the president touted his administration s coronavirus relief efforts, record new job creation, and low unemployment levels. sure, but that s likely little consolation to the millions of americans paying record prices for everything from food to gasoline. especially as many economists predict the federal reserve will drastically hike interest rates tomorrow to try to get control of the inflation. president biden will try to address one of those crises, gas prices, now avera
and, russia makes a push to take a key ukrainian city. we are allies in kyiv with details. their first hearing was a smash hit, of sorts, which drew some 20 million viewers. the genuine sixth committee is about to reconvene in front of tv cameras once again, just hours from now. the focus will be on what former president trump knew about the election results, and when he knew it, even as he kept pushing the big lie that he was the victim of massive voter fraud. here is the preview now from marshall cohen. reporter: the second public hearing from the january 6th select committee is shaping up to be a block buster event. the witness list includes donald trump 2020 campaign manager bill stepney and. that was a bit of a surprise. he is appearing under subpoena. we will find out soon how helpful he is going to be. it is notable he is even showing up. the panel also hear from bj pack, the u.s. attorney in atlanta who was pressured by the trump white house to backup trumps false
i m jake tapper. aides say this second hearing will drill down on evidence that president trump knew he lost the election but spread false claims of fraud anyway, ignoring court rulings, ignoring the will of the american people. lead-off witness, bill stepien, who has firsthand knowledge about what trump knew about the election numbers. stepien tells cnn he is appearing under subpoena. also testifying today, former fox digital content director chris stirewalt. he was fired after his accurate call of arizona for joe biden. we ll hear directly from republicans who investigated and rejected claims of election fraud in the key states of georgia and pennsylvania, and felt trump s anger for it, former u.s. attorney bijay . . ak and al schmidt and ben ginsburg will testify there was no widespread fraud in 2020 and discuss the trump team s failed challenge to the election results. the select house committee is aiming to connect more dots between the insurrection and its allegation
now it s an improper purpose based on what we heard from hershman saying the only thing i want to hear from you is orderly transition. if you don t do that, you re improperly there. you have a case, but there s still work to be done. cheney talked about the eastman memo, the notion of who was in the house? who was in the room where it happened to say this is what we re going to do. the conjuring moment of figuring out what to do next. i think that might be the piece that is most lacking, but this was a phenomenal stride toward supporting each of the elements. right. and the big lie is the first step to proving that criminal case, to prove that they knew it was a lie, and it was a lie and that they knew it was a lie. and then they vhave to connect t to what they did with it. i thought the last portion of the hearing was interesting, because we the end to forget about the grift. the quarter of a billion dollars they raised by lying to people about the election, and lying on m