harry smith on the end of an internet era announcer: this is nbc nightly news with lester holt good evening today some tough medicine for an american economy racked by high inflation. the federal reserve raising a key interest rate 0.75% it s the biggest bump-up since 1994 a hike sure to be felt in the wallets of american borrowers. think higher mortgages rates and bigger credit card payments which we ll get into in a moment. what s it all about? the fed hopes the increase will start putting the brakes on inflation which is running at 40-year highs. gas, food, prices, you name it. it s all soaring investors liked the news today the markets rallying on the fed announcement policymakers weighing future increases while trying to steer around the risk of a recession. let s tell you what you need to know about all this starting with tom costello reporter: for days, the fed has telegraphed that it would go big today after acknowledging it should have acted sooner to rein in
overturn the 2020 election, what to expect from day three of the public hearings. plus, stock futures fall more than 1% after the fed implements the highest interest rate hike in nearly 30 years. the question is whether the move will drive down inflation without pushing the economy into a recession? and we ll have the latest from ukraine. as the united states pledges more aid, the leaders of france, germany, italy all arrived in kyiv overnight to show that europe is still committed to the fight for peace. good morning. welcome to way too early. on this thursday, june 16th. i m jonathan lemire. we appreciate you being here. the third hearing into the attack of the u.s. capitol is set for 1:00 p.m. today. it will focus on efforts to pressure former vice president mike pence into overturning the 2020 presidential election in a campaign that put the former vice president s life in danger. aides tell nbc news the hearing will hit four main themes, the theory that pence had t
BATON ROUGE - Barry Seal was a Baton Rouge native who worked as a drug runner for the cartel, smuggling hundreds of thousands of dollars of cocaine into the United States.
after acknowledging it should have acted sooner to rein in inflation, the three quarter rate hike is on top of two smaller hikes earlier this year. we at the fed understand the hardship that high inflation is causing. we re strongly committed to bringing inflation back down. by raising rates, and the cost of borrowing, for mortgages and car loans, to big business loans, the fed hopes to cool the economy, without pushing it into recession. inflation now running at 8.6%, the highest since 1981. and americans are getting squeezed. to make ends meet, louisiana special ed teacher and single mom, christina seal, is now selling her plasma, to earn an extra $600 a month. it is something that i have to do in order to keep my family afloat. in order to make sure that there s enough food to go around, and the lights are on, and i have gas in my gas tank. christina says her monthly bills have nearly doubled.
the fed has telegraphed that it would go big today after acknowledging it should have acted sooner to rein in inflation. today s rate hike is on top of tw smaller hikes earlier this year. we at the fed understand the hardship that high inflation is causing we re strongly committed to bringing inflation back down. reporter: by raising rates and the cost of borrowing for mortgages and car loans to big business loans, the fed hopes to cool the economy without pushing it into recession inflation now running at 8.6%, the highest since 1981, and americans are getting squeezed to make ends meet, louisiana special ed teacher and single mom christina seal is now selling her plasma to earn an extra $600 a month. it s something that i have to do in order to keep my family afloat, in order to make sure that there is enough food to go around and the lights are on and i ve got gas in my gas tank reporter: christina says her monthly bills have nearly doubled.