jacking up interest rates, raising bar owing costs. on thursday our first look at u.s. economic growth for the second quarter, another decline in gdp is expected. of course, two quarters of a loss in a row is a sign of a recession, so are we head there had? here is the treasury secretary. the labor market is now extremely strong. we are in a period of transition in which growth is slowly. we re likely to see some slowing of job creation, but i do i don t think that that s a recession. a recession is broad-based weakness in the economy. we re not seeing that now. we re not seeing that now, but here is this from someone who used to have that job, the former treasury secretary larry somers. i think there is a very high likelihood of recession when we ve been in in kind of situation before. recession has essentially always followed when inflation has been high and unemployment has been low. soft landings represent a kind of triumph of hope over experience, i think we re v
also, will the administration talk nancy pelosi out of her trip to taiwan as she riles up china with her travel. huge economic data released almost every day this week, will it point to a recession. and as russian forces strike the main ukrainian port is the grain deal between the two countries already in jeopardy? let s going to sunlen serfaty live for us on capitol hill. the january 6th committee doesn t plan any more hearings until september that doesn t mean they are not going to be busy. reporter: that s absolutely right. almost all the work the committee will be doing over the next month will largely happen behind closed doors. the committee says that a number of significant leads have come in and so they will be using this next month to gather new evidence, to talk to new witnesses potentially even or visit some previous witnesses who have already testified. this committee entering a crucial fact-finding mission over the next month. the house select committee i
should be subpoenaed. the russian foreign ministry has now claimed responsibility for the attack. there is a major sense of urgency around getting that grain exported to the countries most dependent on ukraine s grain exports. it s monday, july 25th. 59 a.m. here in london, 5:00 a.m. in the u.s. west coast. where millions of americans across the country are seeing the impact of the growing climate crisis. a dangerous and scorching heat wave that s already responsible for several deaths. on monday temperatures hit as high as 102 degrees fahrenheit in parts of the northeast, with several cities sweating through their hottest days ever. both boston and philadelphia have extended their heat emergencies after seeing record high temperatures, and across the country close to 50 million people are under heat alerts today, in some areas the blistering heat even led to power outages. sunday new york s electric provider says it was working to restore scattered outages, and in bo
previous reluctant witnesses. one is the secret service. according to new cnn reporting, investigators have identified potential missing text messages on the phones of ten agents. messages from on and around january 6th. committee vice chair liz cheney calls the developments regarding the agency deeply troubling. i have just tremendous respect and admiration and real affection for members of the secret service, particularly those who were with my family on 9/11 and in the aftermath of 9/11. but i also know that what we saw in terms of what s happened over the course, what we ve become aware of over the course of the last several weeks is deeply troubling. we will get to the bottom of it. cheney also tells cnn the panel is still interested in speaking with steve bannon, who was convicted on two counts of contempt of congress for defying the committee s subpoena. we ll join steve bannon s attorney for his first interview. they say they could also subpoena begiginni thomas.
incredibly important for policymakers and for washington. look, we ve got consumer confidence numbers tomorrow, i mean, they could be really rotten. we know that people feel terrible about where the economy is going, a lot of people feel like they are already in a recession already. terrible consumer confidence. we will get those numbers. on wednesday we have a federal reserve interest rate hike expected, we are expecting another 75 basis points. that s big. we saw that in june, 75 basis points that was the biggest move since 1994, we re expecting that again. why? because the fed is trying to tamp town on inflation. that s going to be incredibly important to watch. we will get the first reading on second quarter gdp that comes thursday and that s expected to be negative again and that would mean as you guys just said two quarters in a row of negative growth. that s a big slowdown from where we saw at the end of last year 6.9%. but gdp alone is not the only gauge of whether we