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
happened months ago. markets are going to take this as a positive. robin, it is hard to thread this needle, though. the federal reserve doesn t necessarily have a great history with getting it right because their levers are not precise. it s hard to target exactly what the economy needs. they ve got a big lever and a small lever. yes. and he is not some omnipotent mr. miagi here who can fix everything. the fed has gotten it wrong several times. stephanie, we ve had rolling financial bubbles now for the better part of 25 years where they come in, they inflate too much and then they crash the economy by hiking rates. you have .com, subprime and global economy shuts down but the timing is never perfect. you always leave too much money out there for too long and you have to do this emergency job of mopping it up. that s when you start to feel pain like those egg prices.
starting tomorrow, the all new cnn original series the movies. we ll explore american cinema through the decades showcasing the biggest hollywood stars and most pivotal moments in films like this. show me wax on, wax off. shah, shah, shah! and who could forget mr. miagi and of course danielson. our anderson cooper got a chance to speak with the original karate kid, ralph macho.
help. you got to get somebody here quick, quick, quick. they re beating this boy to death. bring somebody here quick. there s nothing i can do. should the driver have done more? outfront tonight, dean, stephanie miller and hogan gidley. dean, you hear this man call and some people say why wouldn t he step in and try to save this child? well, he s 64 years old. yes. he decided not to get physically involved even though he was the only adult. he did make that call. right. was that enough or should he have tried to help as he says in that call, they re going to beat this boy to death? i think it s painful to watch the video, but honestly legally he had no obligation to do it. he s 64. he s not a superhero. he s not mr. miagi from the karate kid. he can jump up and save daniel from the cobra. this is a situation where he could have been beaten up or kill and these three kids that beat up the victim, the victim reported those three kids for stealing drugs that day in the
on that call they re going to beat this boy to death. i think it s painful to watch the video, but honestly legally he had no obligation to do it. he s 64. he s not a superhero. he s not mr. miagi from the karate kid. she could ha he could have been beaten up or killed. the victim had reported those three kids for stealing drugs in the school. that s the allegation and that s why they were beating this kid up. if he would have hurt any of the students i think he could have been charged with a crime himself or civilly sued. so he did what he had to do. there was no obligation to do anything more even though it hurts us to watch that individual joe. stephanie, what do you think? legally and morally, no obligation? yeah, you know, erin, i think this is a tough one. you know, but if you watched him, you sort of saw his remorse that he wished he could have done something. look, maybe because i m a girl, i wouldn t have walked into the middle of that. i wouldn t have had the courage.