time here. here s the good news. we re six months through this. here s the bad news. get ready for six months more of this? welcome, everybody. i m neil cavuto. we begin with lauren simonetti on what happens and what could be coming next. hi, lauren. neil, let me take you back to january 4, 2022. that was the high of the year. dow 36,799. just a few days later, the blue chip average fell over 1,000. that is ringing true this year also.so the day russia invaded ukraine, february 24, the dow went to 33,223. the seventh official correction mark ago 10% decline from that january high. investors paused. spring didn t seem so bad. the war did. commodity costs, they climbed even higher. the federal reserve started to take more drastic action. they raised the rate 50 basis points may 4, a steep sell-off on wall street right after that. so investors started to think, oh, 50 basis points. maybe that s not enough when consumer prices surged 8.6%. we found that out june 10th. inflation
of the 11th hour, stephanie rule, tom costello with us, white house correspondent carol lee and host of public radio s full disclosure. the news is in, stephanie, three quarters of a point. we thought originally it was going to be 50 basis point but jay powell is in a situation. we are in a serious inflationary environment. normally the fed likes inflation to be around 2% and it s currently approaching 9. so 75 basis points is a big move but it s still tricky because what they don t want to do is move so much so quickly that they push us into recession. but if they don t do something aggressive, prices will likely continue to rise and the economy is suffering for it, especially right around gas prices. this is a big move. it s not unexpected. it s the thing that people have been waiting for. most economists across the board have said this should have happened months ago. markets are going to take this as a positive. robin, it is hard to thread this needle, though. the
was for the performance of 6, one of the ladies had covid. so one of the understudies stepped in last minute and she got a shout out and that was pretty incredible to watch. all right, frank, di lella, thank you so much. everyone looks so happy. we appreciate you re coming on this morning. it is the very top of the fourth hour of morning joe. and in less than one hour, the january 6 house select committee will hold its second public hearing on capitol hill this morning. the panel is expected to delve deeper into the big lie. lawmakers are expected to lay the case out that former president trump knew he lost the 2020 election. and made an effort to spread disinformation. today s witness list includes former trump campaign manager bill stepian. and we re hearing about the hearings. two more hearings are going to take place this week on wednesday, the panel will focus on pushback from the justice department. and former acting attorney general jeffrey rosen will testify. then
Violent tornado. David unbelievable. Catastrophic tornadoes tearing across the plains leaving Dozens Injured and many homes destroyed. 60 million Americans Still under Severe Weather threats across the nation. Were going to take you to hardhit elkhorn, nebraska, in just a moment. And if to New York City where Columbia University still is, quote, negotiating with indianaisrael protesters antiisrael protesters camped out on its lawn. Were going to talk to a democrat who says t time to break it up there and across the country. Miss, with protests growing and legal battles brewing, these two candidates say they are ready to start debating, but will it ever happen . Welcome, everyone. Im david asman in for neil cavuto, this is cavuto lye. More on that potential debate coming up cavuto live. First, to those disastrous tornadoes. Fox weathers Nicole Value December is in elkhorn, nebraska, with the very latest. Reporter good morning. Just horrific images coming out of state of nebraska. But as
reports, the first evacuations from the gaza strip since the start of israel s siege. a major deal brokered to open that border crossing with egypt for foreign nationals, and injured palestinians as well. how soon the hundreds of americans trapped in gaza could be allowed to leave. and israel faing condemnation for a massive attack on a refugee camp in gaza. the idf claiming they killed a high ranking hamas leader. what we know about the strike that reportedly killed dozens of civilians including children. also ahead, an arrest for anti-semitic threats at cornell university, more on the suspect, a student himself and his threats as anti-semitic incidents rise across the country. and breaking news here in new york city, donald trump jr. expected to testify in a case that could threaten the future of his father s empire. what testimony from the trump children could mean for the multimillion dollar civil fraud trial. good morning, everybody. good to see you, breaking news