11:00 a.m. eastern, 8:00 a.m. pacific, i m jose diaz-balart. right now in new york city, former president donald trump inside the courtroom at closing arguments in his $250 million civil fraud trial. just hours after police responded to a bomb threat at the judge s home. meanwhile, on the campaign trail, nikki haley and ron desantis traded insults during last night s gop debate in the battle for second place. you re invisible in new hampshire. you re invisible in south carolina. you re in fifth place. she s got this problem with ballistic podiatry, shooting herself in the foot every other day. this as chris christie is caught on a hot mic talking about haley and desantis right before he dropped out of the race. and in california, presidential son hunter biden is due to face tax charges in court this afternoon, a day after his surprise appearance on capitol hill. and we begin with breaking news from new york city, where cloing arguments are under way in former presiden
policymakers like those at the federal reserve are keeping a close eye on how things are developing over the more medium term before they really think about cutting interest rates at some point. in the case of this morning s data, we saw a hotter than expected increase in consumer prices which did drive the year-over-year consumer price numbers. if you strip out food and energy, that so-called core level rose .3% as well. was in line with estimates and brought the year-over-year core reading to 3.9%. what you see right there are the real affects. we see big moves in terms of egg prices, other things. gasoline prices still down around at least a level where it is palatable. a big driver was in housing. shelter costs gained a half a