we ll have the latest reporting and analysis in moments for you. also this hour, new covid concerns on multiple fronts with another spike in china and a new sub variant here at home. we continue to cover that major development. the arrest in connection to the murder case involving four university of idaho students. nbc news can confirm the person in custody is that man right there. 28-year-old bryan kohberger. this is according to court records and four law enforcement officials confirming that to nbc news. he s being held in pennsylvania. he s at the prison there. police in moscow, idaho v announced a 4:00 p.m. eastern press conference to provide apt update on this case, but the moscow police department is not yet confirming the arrest. let s bring in correspondent steve patterson for the latest. it s been an hour since we have been getting this. anything new in the last hour? reporter: just the timeline. we ll have that press conference from moscow police later on today.
so let s now get down to business and we begin with the bank of england and the warning that interest rates could go up by as much as half a percentage point at its next rates meeting. that s according to the bank s governor, andrew bailey. he was speaking to financial leaders in london last night and pledged to do whatever it takes to get inflation under control. we will have to act forcefully. in simple terms it means a 50 basis point increase will be among the choices on the table when we next meet. but it is not locked in. and anyone who predicts that we will do that is doing that based on their own view. we do not pronounce rate decisions for one very simple reason, and pc decisions are based on deliberation at the time on nine people focused on retaining inflation to the 2% target sustainability. well, injust over an hour s time we will get the latest inflation figures for the uk. prices have already been rising at the fastest rate in a0 years at 9.1%. joining me now is
and president biden tries to celebrate a strong jobs report while his attention is otherwise consumed with inflation and gas prices and gun massacres and more. the beginning of what could be a long hot summer. plus, delicate diplomacy. biden refuses to confirm a meeting with saudi arabia s de facto ruler and he once vowed to make the country a pariah because of its horrific record on human rights. welcome to the lead. i m jake tapper. we start with our money lead and president biden heralding a, quote, terrific jobs report while also acknowledging record high prices are causing serious problems for far too many american families. there was good news in the jobs report released this morning. u.s. employers added 390,000 new jobs. unemployment stayed at a near record low of 3.6%, and 96% of the jobs lost during the pandemic erupted are back, but none of that will immediately help lower the sky-high costs of everyday goods such as groceries or gasoline. the current rate of