i guess i was max. yes, yes. the best character to be, the whole point. it can be lonely, but all right. no, we are all with you guys. and we are honestly very grateful that you joined us today. thank you so much for watching. don t forget to dvr the show, here is america reports. john: we will be grateful if you continue to watch. waiting a major decision from the federal reserve whether interest rates will go up again to try to rein in inflation, the smallest since march, but some critics say the higher rates will have unwanted side effects. sandra: they worry the fed may go overboard. what does it mean for you, your family, your wallet, larry kudlow will break it down. john: begin america reports this wednesday, expiration date
warn officers about the danger of fentanyl exposure. she is expected to make a full recovery and will be back at work in a couple days, john. john: extraordinary how a little dust on a dollar bill did that to her. thank god her colleagues were there. sandra: thank god she s ok. oregon s controversial gun law is held up in court, one county sheriff is vowing not to enforce it even after it goes into effect. we will ask her why when she joins us. john: the federal reserve set to announce another interest rate hike in a matter of minutes as we get new warning signs that those increases could trigger an economic slowdown. after months of inaction, is the fed now hitting the brakes too hard? we ll get larry kudlow s take just ahead.
john: a story out of a novel, husband and wife embedding themselves in a small new england town and allegedly funneling sensitive secrets to russia. the shocking way prosecutors say they did it coming up new at 2:00. plus, senator tom cotton on his way to fight espionage from china, the border crisis and larry kudlow reacts to another interest rate hike from the federal reserve. all that and more as america reports rolls on. and we could all use the security of extra cash. with today s home values near record highs, the newday 100 va cash out loan is helping veterans homeowners get more money than they ve ever imagined. cut your expenses by paying down high rate credit cards, personal loans, even car loans. and at newday, we look at your total picture. when banks say no to a veteran, newday can say yes.
future today are opening up in positive territory. all eyes on, as you know, midterm this week as well as that u.s. cpi inflation print coming on thursday. should give further clues to how the fed may move on interest rates. the next sentence will be my biggest understatement of the morning. it seems like there is a lot going on after elon musk took over twitter. what is going on? yes. well, a lot has happened this weekend. let s start off with the employee layoffs. it is reported that up to half of the 8,000 employee workforce will have already lost their jobs or going to lose their jobs. that s around 4,000 people. now twitter has not confirmed these reports. but those who were laid off received an e-mail friday indicating they have lost their jobs and were entitled to three months severance package. former twitter employees are launching a class action lawsuit against the company. this is prompted the co-founder
quarters of a percentage point later today. joining us now, co-anchor of cnbc s squawkbox, andrew ross sorkin. andrew, let s start with interest rates. ouch! what s going to happen? so, at 2:00 p.m., watch your screens, at 2:00 p.m., we re going to hear from fed chair jay powell. as you said, 75 basis points is the expectation, but focus less on the number and it could come out even hotter. maybe he goes to a full hundred points. that would actually, i think, make people a little bit more nervous, frankly, about what the fed may or may not do. but it s really going to be his commentary on what he expects to do for the rest of the year in terms of raising interest rates. and whether he thinks that any of the interest rate increases that are already in effect have had any success. there is a big question and a great article in the new york times today about automobiles, as a signifier of where we are in terms of the economy and inflation in particular. we ve seen profits in the auto