taking photographs of stairwells and hallways and tunnels and security screening posts. hmm. and then the invasion in ukraine hits home for some u.s. families as two americans going missing while fighting alongside ukrainian soldiers. the growing fear these two americans might now be in the hands of the russians. welcome to the lead. i m jake tapper. we start with our money lead and a major economic news that will in the short term at least make life more expensive for many americans. the federal reserve this afternoon doing something it has not done in nearly three decades. they raised the interest rate by three-quarters of a percentage point. this will mean higher costs for mortgage loans and credit card bills and auto loans and student loans. federal reserve chairman jay powell says the hike is necessary to cool economic growth so as to get inflation under control, but that could take weeks if not months, and so many american families are struggling right now with sk
common step from the fed. but he did say in the next meeting in july, that they are probably going to be debating between either a move this size or one just smaller, a half a percentage point, and fed officials, they projected sharply higher interest rates by the end of the year. they say that they think that interest rates are going to be about twice as high at the end of the year as they are today. now, this is a tricky situation for the fed because if they don t do enough, which arguably has been the case to this point, that inflation can get hotter and hotter and go out of goal. if they do too much, they could end up slowing the economy right into a recession. yep, that s the risk. matt egan at the fed. thanks so much. turning to our world lead. two american fighters are now feared to be prisoners of war. possibly in the hands of the russians. the two volunteer fighters from alabama went missing during a battle just north of kharkiv last week. they have not been heard from sin