eye on america. cbs carter evans looks at the life-and-death consequences of the nation s e.m.t. staffing shortages. and, the ultimate pep talk. we re all rooting for you, man. garrett: college athletes lifting the spirits of kids in the hospital. this is the cbs evening news with norah o donnell, reporting from the nation s capital. ing from the nation s capital. garrett: good evening to our viewers in the west. thank you for joining us. i m major garrett, in for norah. after a surprise trip to washington, ukraine s president zelenskyy is back home tonight, hoping more u.s. military aid will soon follow. .plus, f.t.x. founder sam bankman-fried is under house arrest tonight as he awaits trial after his first court appearance in new york. but, first, the biggest prechristmas storm in decades consumes much of the country. winter storm warnings, blizzard conditions, and dangerous cold forecast now in more than 40 states, from the pacific northwest to new england
clean up the aviation industry? we get airborne to find out. we start in the us where the central bank has raised the cost of borrowing to its highest level in m years as it tries to rein in soaring prices. the federal reserve hiked its benchmark rate by three quarters of a percentage point to a range of between 3% and 3.75%. the feds chair, jerome powell, warned there were more rises to come, but said there is no painless way to get inflation under control. households and businesses here in the uk are also braced for more expensive borrowing with the bank of england widely expected to announce a hefty rate rise in the next few hours. more on that in a moment. first, let s hearfrom our us business correspondent michelle fleury in new york. the message from the federal reserve unmistakable, we are here to fight inflation, this is the first time us central bank has raised interest rates and smudged in response to prices rising at the fastest pace for four decades, prices r