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
Against president obama on a piece of legislation. We are breaking it all down ahead. Hes going to run . Good morning. Im christine romans. The day jeb bush is announcing he is going to run. Im john berman. It is 5 00 a. M. In the east. Governor cuomo is set to announce a formal investigation into every aspect of the brazen prison break in upstate new york. Two brutal killers are on the loose now for a tenth day. Hundreds of Police Officers are looking in a wooded area near the prison where david sweat and richard matt escaped. Joyce mitchell the female prison worker who allegedly helped break them out, she is pleading not guilty to felony charges. A big day in the case. Lets go to cnns Miguel Marquez for more. Reporter john and christine, this is the clinton correctional facility. That is where the two escaped from. The area just in front of you and me and the facility is the area of the most intense search. You can see just how dense that forest is and how vast this area is. Despite
per barrel was also $120. so they re trying to figure out how to come up with some way of lowering gas prices, which is one of the core planks of the president s plan to fight inflation. so what the white house is asking is that these companies engage with the administration and explain why they re not doing more, producing more and to try to come up with solutions for lowering gas prices. now, the companies push back and say, look, we re not producing more because of the president s climate change agenda, reducing dependence on fossil fuel so it s a bit of a fight but more than the white house wants to have. steph, can you speak to that? we re seeing the president saying you have record properties, it s not fair as an oil company to have record profits on the backs of