reporter: the federal reserve just made history announcing that they re raising interest rates by 3/4 of a percentage point for the second meeting in a row. we haven t seen anything like that in back to back meetings in modern fed history, but we re not in nor times. we re dealing with the worst inflation inflation prices in 40 years. inflation remains elevated due in part to russia s invasion of ukraine and very high food and energy prices. so the fed is stepping in and acting like the firefighter. they re trying to put this inflation fire out. the goal here is to raise borrowing costs and try to cool off red hot demand, and that should hopefully allow supply a chance to catch up. but you know, officials also signaled that they re not nearly done with rate hikes. they said it would, quote, will be appropriate to continue raising interest rates. and here s the problem. they re raising rates into an economy that is already showing cracks here. in the new statement today, the
$15,000 of student loans. bill: i would have loved to have been given 10 grand. it could change your life but i signed a contract. a contract. i had to pay it. that was the bill. dana: i was so afraid i couldn t make my next payment that i made two payments at night. i was a waitress. president biden has had to make this decision over and over because he has hemmed and hawed about it. right now today he is expected to cancel up to $10,000 in student debt for americans making less than $125,000 per year. he will also reportedly extend the pause on loan repayments until after the mid-terms even though apparently we have the best job market in history. bill: taxpayers will foot the bill for all of this. it will cost anywhere between $300 billion at the low end and upwards of $980 billion at the high-end depending the decision he makes. dana: the price tag is raising alarm bells on both sides of the aisle. critics are calling it a hand-out that will do more harm than good
$10,000. senator rick scott says if dems want solutions here is one. stop wasting taxpayer dollars and start holding institutions accountable for student outcomes. former trump senior counselor kellyanne conway with this. it also is a complete farce that they already passed something misnamed as the inflation reduction act and turn around and going to make inflation worse. we are making things more expensive because they continue to spend money that we don t have on things that we don t need. let s dig into the real cost of this bail-out. according to a budget model a one-time cancellation of $10,000 per borrower would cost $300 billion. but if the white house it wipes out $50,000 per borrower that price tag jumps to $980 billion. sometimes the numbers get so big it is hard to keep track and hard to really get a grasp of just how massive this sort of pay out is. it is massive. the bit by bit number is $10,000 for each person with student loan debt outstanding that mak
frankly the headline number, matt, is a big one here. also it shows healthy growth in several sectors of the economy. yeah, jim. this is blockbuster growth. and it is pretty remarkable. this number is going to go a long way towards shutting down this idea that the u.s. economy is already in recession. to be adding more than half a million jobs, in a month, at this stage of the recovery, is pretty impressive. let me give you some context around this 528,000 job figure. this is twice as much as the consensus from economists. not only that, but it is 200,000 more than even the most optimistic forecaster had pencilled in. two big milestones that came out of this report, the labor market has now fully recovered all of the jobs lost during covid. total nonfarm payroll is back to february 2020 levels. the unemployment rate is now down to 3.5%. that matches the half century low set before covid. again, none of this suggests an imminent or ongoing recession. but here is the problem,
adams said no and a few other words. with that, america s dangerous influx is heading northeast. mayor eric adams says his city resources can t take it. invite those who are trying to find housing in his state to give them housing instead of sending them here, federal government has responsibility, fema, needs to give us support that we need. harris: calling for federal government to help? that is not fresh or new, it is for them. governor abbott says what liberal city mayors are facing is nothing compared to what texas and other border states have been dealing with for months. nate foy reporting. nate. that bus load of 50 migrantss arrived 7 a.m. issue the green bus circled manhattan before stopping at the port authority authority behind me and a group of 50 migrants offloaded from the bus, mixture of single adult men, few women, majority from venezuela. they were met by 10 volunteers, given clothes, sandwiches and water, some children handed stuffed animals. one child