desperate measures to try to hold the front line. vladimir putin inspecting his troops and firing a rifle himself in a new wartime show of force. also this hour president biden is in the critical midterm battleground state of pennsylvania touting infrastructure spending as many voters are stressed out about inflation and the economy. i ll ask former treasury secretary larry summers for his up to the minute assessment of the recession threat. and new turmoil right now in britain after the prime minister liz truss abruptly announces her resignation after six short but troubled weeks in power. we ll get a read on the instability and what it means for the uk and the world. welcome to our viewers here in the united states and around the world. i m wolf blitzer. you re in the situation room. all right. let s get straight to the new developments out there on the battlefield in ukraine. we re tracking very fierce fighting in occupied territory, especially in the south, as moscow s
even remotely approaching another four percentage points. so we ve seen most of the adjustment and now what we re going to have to do is wait and watch and see how the economy plays out and the fed s going to have to fine-tune around the path that it has set. if the economy s stronger, then the car s going faster and you have to hit the brake a little harder. if the economy is softening and slowing, then you re going to go back the then you re going to go back the other way. and that s a judgment the fed s going to have to make as the data come in. but i think it s pretty clear now in an economy where the latest core inflation measures were close to 7 and the interest rate is still 3 that the path the fed is on, the path of raising interest rates, we re certainly going to need some more of that. but despite all of these steps that have already been taken by the federal reserve and