knew he lost the 2020 election and that their scheme to overturn the results was illegal. and yet, they attempted it anyway. president trump rejected the advice of his campaign experts on election night. and instead, followed the chorus recommended by apparently inebriated rudy giuliani. to just claim he won. and insist that the vote counting stop. to falsely claim everything was fraudulent. and there are an lies the true nature of these hearings. to truly hold trump and his fellow coup plotters accountable. the committee has already uncovered evidence that trump may have committed serious federal crimes. but it s up to the justice department to bring criminal charges. as neil cocktail argues in the opinion page of the new york times today, attorney general merrick garland could bring a charge of conspiracy to defraud the united states even if trump truly believed in what he was saying. and it wasn t just democracy at stake, but lives as well. vice president mike pence fa
to climb and affect americans ability to buy gas or afford a mortgage. will it be enough to restore faith in the fed or the biden administration to control inflation and high prices. welcome to washington journal, for thursday, june 16, 2022. for republicans, (202) 748-8001, democrats (202) 748-8000, independents, (202) 748-8002, and said is a text at (202) 748-8003. tell us your name and where you are texting from. we are on facebook. we look for your thoughts on twitter and instagram. your faith in the federal reserve and the biden administration to fight inflation. we will hear more from jay powell and also criticism from congressional republicans as well. we will bring you other capitol hill news and update you on our coverage plans of today s january 6 hearing. first to the rate hike. our opening question, the headline in the washington post says markets and households lose faith that the fed can handle inflation. in that article, they write the federal reserve s misst
disastrous showing the biggest spike in consumer prices in over 40 years that the fed felt the need to move fast here to take a page out of the playbook of alan greenspan and paul volker with a very big interest rate increase, and they signaled that more aggressive steps are to come because that official said they are, quote, strongly committed to getting inflation back down to 2%. and given that it s nowhere near 2% right now, that does imply more big rate increases to come. as far as why this is happening, i think it s important to think about the economy as almost like a car on a highway, and the fed is the driver. when it needs to speed the car up, it will cut interest rates to stimulate demand. right now we have the opposite situation. it s going dangerously fast, and so the fed needs to slow things down. it s actually slamming the brakes on the economy. the problem here, victor, for the fed is if they don t do enough inflation can go out of control. if they do too much,
talked about what has been thus far but also talked what is to come. what is to come. here s the quote, clark decided - it s like a movie. you know, like mussolini or something. yeah. sort of like al haig. no disrespect. you got to know whether you re a utility, infielder or cleanup like the justice department. he decided they re going to take over the justice department. they re going to wipe out everything. and trump. they call in rosen is it donahue yeah. some of these characters, like him and the other guy who said i don t want to hear two words out of you. we always talk about who should play these characters in the movie? who do you think? these guys should play the characters in the movie. listen to this, clark, i ve done a lot of very complicated environmental litigation, sir. donoghue, that s right, you re an environmental office, how about you go back to your office and we ll call you when there s an oil spill. makes a good point. b
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