headquarters in new york city. could a political battle that s splitting the republican party also influence the outcome of the actual war some republican lawmakers obviously think so, slamming ron desantis for arguing the u.s. should stop helping ukraine. what it could mean for the congress, the country and the kremlin. plus, the hugely consequential hearing on abortion happening right now in texas. how the opinion of a single judge could impact the lives and health of millions of women across the country and wall street under pressure again, with the dow falling from the opening bell, now down about 700 points, at least close to it. the new bank that investors scrutinizing and what it means for your money coming up. bus we start with the clash over america s role in ukraine, shaping up to be an early defining moment in the republican race for president. it pits ron desantis who has now aligned himself with donald trump by calling the war a territorial dispute, that th
more on all of that later this hour. but first the critical decision set to drop soon from the federal reserve. and cnn business correspondent rahel solomon is here with us. walk us through what is to come in the next hour or so and why it really matters. so the expectation is that chairman powell will raise rates about three quurs of a percent. that is not one to one in terms of borrowing costs. we won t see borrowing costs raise 75 basis points. but it does influence all of the categories. so costs will continue to go up. and i want our viewers to enter understand what this really means for them, for their wallets. and i know you ve pulled a few examples. yeah, i ve been working the phones. let s start with credit cards. we ve already seen credit card rates accelerate quite rapidly this year. and right now the average rate is about 17.5%. according to bank rate, if you are holding a $5,000 balance which is the national average, you have a current ampt pr of 17.25%, if
Tired of the Drama Questioning why any of this has happened. He worked with the democrats, so what, to get things done, then he gets kicked out, and now nobody can do anything. Thats wrong, stupid. Plus, former President Donald Trump now trying to Short Circuit The Civil Fraud Trial In New York by asking a judge to put it on hold. Prosecutors pushing back hard. Were going to tell you what they said. And then one day after this horrific Missile Attack that killed dozens of ukrainian civilians, another russian attack rips through a multistory building killing a 10yearold boy and his grandmother, the boy found still wearing his spiderman pajamas. Local officials saying dozens more were hurt including an 11monthold baby. Were going to bring you the latest on that in just a couple of minutes as well. We want to start on capitol hill where we see lawmakers on the house floor just for about two and a half minutes or so today earlier, barely time enough for a prayer and the pledge of allegianc
you re live with bbc news. the us federal reserve is raising interest rates again, this time by a quarter of a percentage point, bringing rates to their highest level in 22 years. the fed nudged the benchmark lending rate to a target range of 5.25 to 5.5%. although inflation in the united states has fallen sharply in recent months to around 3% the bank still hopes to reach its target rate of 2% a year. the federal reserve didn t rule out further rate rises to come. a short while ago i spoke to bharat ramamurti, deputy director for the national economic council. very good to have you and bbc news. the federal reserve raised interest rates to the highest level since 2001. what you make of this move? this highest level since 2001. what you make of this move?- you make of this move? as an administration you make of this move? as an administration we you make of this move? as an administration we don t - you make of this move? as an i administration we don t comment directly but wha
inflation that fast. so that is something that the american people will continue to feel at the store as they continue to see high prices. if the federal reserve didn t fully hit the brakes on inflation because of what s happening in the finance sector, high prices is something that americans have to deal with. a little bit of pressure. yeah, little bit. glad to have you both here. thank you. i have a feeling we ll be talking more about this in the days ahead after a series of dangerous close calls how safe is it to fly? a former faa administrator will join me next realtor.com to find options within your budget. good luck young man. realtor.com to each their home.