biden s former office to the nearly 200 pieces of government material that were stashed at mar-a-lago. and a new discovery could help the muddy the waters even further. we ll explain. meanwhile, gop leadership in the house gets the ball rolling on the long promised investigation ofs president and his family. also ahead, we ll have the latest on that massive system failure that grounded flights across the country for hours yesterday. good morning and welcome to way too early on this thursday, january 12th. thanks for starting your day with us. aides to president biden have found more classified documents outside the white house in different location than the batch we learned about earlier in the week. a person familiar with the matter tells nbc news that during an exhaustive search of the president s belongings from his time as vice president at least one other batch was discovered. that search started in november. n. response to the discovery of about a dozen other classi
that joins us live from london. investors today will be looking ahead to a key inflation report. it may determine the size of federal reserves next interest rate hike. we expect to hear from president biden later as well. that s coming to day. consumer price index. what can we expect? yeah. so it is always a major market mover. let me give you what the market is expecting here. the market is expecting the head line inflation number to drop to 6.5% from 7.1% the last month. core inflation to drop to 5.7% from 6%. that he is quif lent to equival jump. so good news. it is worth mentioning this is the last inflation reading that we re going to get before the next federal reserve meeting on february 1st. they re figuring in a 25 point basis hike. if we get a surprise, that could
continue with the rate hikes. but i think the real headline is that the 50 point basis hike, brings rates to a level we haven t seen in about 15 years, basically since the great recession, and also, there is indicators from fed officials, not a clear statement, but indicators that the rates could go as high as 5%. sometime next year. 5.1%. something that you re obviously seeing, it is impacting the market, and it is also impacting the hopes of a pause or a pivot, that s wall street talk, for a change in direction, in these rate hikes, and also for a soft landing. that s reducing inflation without creating a recession. frank holland, with the business week, the wall street speak, and ron, let me go to you. what would there need to happen in the coming year to have in order, as frank says, a piv in the fed. is there any signal, anything by the fed that says they would not rate as much as they did or at all. sadly, no. there is nothing that they would admit to right now that would cau