nearly three decades. all, of course, in an effort to slow slowing inflation. in hours, the fed expected to announce raising rates by 0.75. that will make it more expensive to pay for things like a mortgage. the biden administration under growing pressure to do more to avoid a recession. retail sales fell last month. consumers feeling the squeeze from the record high gas prices, inflation and already rising interest rates. let s begin our coverage with cnn s matt egan live in washington taking a closer look at the fed s big move expected today, matt. reporter: erica, this is shaping up to be an historic day for the american economy. in just under three hours, the federal reserve is expected to take aggressive action to try to tame inflation. prices surging so rapidly that economists and investors now expect the fed to raise interest rates by 0.75%. this is a big deal. some context, just six months ago or so, there was a debate over whether or not the fed would raise interes
and ease pressures, the risk is stalling the economy and opening the door to recession. and primary lesson, south carolina voters voted to impeach trump. the banner republicans were warned they vied for opponents up and down the ballot. the crackling dispute now between the january 6th committee and a republican member of congress. the republican member in question from georgia. here you see a man taking photos of stairwells and hallways, not your typical capitol tour highlights. the committee says he led this man and a few others on a tour of the capitol complex january 5th, 2021. the committee says that same man took this video outside the capitol on january 6th shouting threats at democratic lawmakers. we re coming in like white on rice, for pelosi, nadler, schumer. even you, aoc. we re coming to take you out. cnn s ryan nobles up on capitol hill for us. tell us more. reporter: john, i think maybe each one of these individual pieces of evidence by itself may not be a
taking photographs of stairwells and hallways and tunnels and security screening posts. hmm. and then the invasion in ukraine hits home for some u.s. families as two americans going missing while fighting alongside ukrainian soldiers. the growing fear these two americans might now be in the hands of the russians. welcome to the lead. i m jake tapper. we start with our money lead and a major economic news that will in the short term at least make life more expensive for many americans. the federal reserve this afternoon doing something it has not done in nearly three decades. they raised the interest rate by three-quarters of a percentage point. this will mean higher costs for mortgage loans and credit card bills and auto loans and student loans. federal reserve chairman jay powell says the hike is necessary to cool economic growth so as to get inflation under control, but that could take weeks if not months, and so many american families are struggling right now with sk
short. we just learned his recorded testimony is expected to be shown tomorrow. and children under age 5 are another critical step closer to getting covid vaccines for the first time. we ll break down the new green light by fda advisers as cases are rising, and even dr. anthony fauci has now tested positive for covid. we want to welcome our viewers here in the united states and around the world. i m wolf blitzer. you re in the situation room. we begin with the biggest jump in interest rates in nearly 30 years here in the united states. the federal reserve prescribing new medicine for the ailing u.s. economy that may be tough to swallow for so many americans. brian todd is joining us live from outside the federal reserve. brian, this is truly a consequential move aim at trying to tackle soaring inflation. reporter: prices across the board were soaring out of control. the fed needed to do something. now it s a matter how the average american can absorb this. with prices s
weanthe country off fossil fuelw for fuel outrage over historically high cost. that outrage is reflected in the latest fox news poll being released right now. and could become a huge factor in the midterm elections for which primaries were held gled a handful the states. the president s approval rate stands at 43% with 57% disapproval will. just 18% consider the economy in good or great shape. 82% believe it is only fair or poor. white house correspondent peter doocy starts us off tonight. good evening, peter. good evening, shannon. the president is not ordering oil companies to drill more in the united states. he thinks they have got enough oil already. and, instead, need to just work harder at getting it to the pump. we see it as a patriotic duty. pressure to be a patriot on oil producers from a president who once made this promise. i guarantee you, i guarantee you we are going to end fossil fuel and i m not going to cooperate with them. now biden writes to oil re