Transcripts For KPIX CBS Evening News With Norah ODonnell 20

Now at breaking point. [bell ringing] norah major news for the economy. The fed cutting Interest Rates for the first time in four years. What it means for your wallet. Its a huge problem, and its getting worse and worse. Norah and Tonights Eye on america. Mortgage rates are coming down, but what about the Supply Shortage of homes . We look at one solution. Im the first person in my family to be a homeowner. Norah the Cbs Evening news starts now. Good evening. Im norah odonnell, and Thank You for being with us on this wednesday night. Theres a lot of news at home and around the world, and we want to start with the number one issue for americans the economy. The federal reserve made a big move today, cutting rates by half a percentage point. Thats more than expected, and it is the first Rate Cut since the Covid Pandemic in 2020 and the largest since the 2008 financial crisis. So tonight the big question is, what does it mean for your Credit Card bills, your mortgage, your auto loans, and your pocketbook . And how soon could you feel the effects of the Rate Cut . Cbss senior Business And Tech correspondent Jo Ling Kent leads us off tonight with some of those answers. Reporter after months of anticipation, the federal Reserve Today aggressively reduced the cost of borrowing for the first time in four years, with a Half Point Rate Cut. Our Patient Approach over the past year has paid Dividends Reporter the Central Bank sending rates down from there more than 20year high. What message are you trying to send american consumers, the american people, with this unusually large Rate Cut . I would just say that, you know, the u. S. Economy is in a good place, and our Decision Today is designed to keep it there. Reporter inflation has cooled off from its peak of more than 9 in 2022 to 2. 5 last month, as the Jobs Market shows signs of weakening. Is the federal reserve effectively declaring a decisive victory over inflation and rising prices . No. Were not. Were not saying mission accomplished or anything like that, but i have to say, though, we are encouraged by the progress that we have made. Reporter the effects of this Rate Cut will take time to trickle down to consumers. For Credit Card debt, Halfpoint Reduction will mean 2 off monthly Interest Payments on a 5,000 balance. Payments on a new, fiveyear, 35,000 Car Loan will drop by 8 a month. And monthly payments on a 50,000 Home Equity Line would go down by 21. I may need a new vehicle, but those are definitely considerations that you have to take in mind during these tough times. Reporter this jumbo Rate Cut is welcome news for Gladys Ospina in california, who wants to update her car and help her brother buy his first home as soon as possible. It gives us options. In the case of my brother, to be able to help him and see him in a better position, where he is able to buy his first home. Norah and Jo Ling joins us now. So this Halfpoint Cut is more than expected. But how many more cuts could there be by The End of the year . Reporter well, the fed is forecasting to more Rate Cuts before The End of the year in november and december, totaling another Half Point, with more coming next year, but fed Chair Powell emphasized to all of us they are deciding this meeting by meeting. The data really matters here, norah. Norah what a day. Thank you very much. Now to the Middle East and another highly unusual attack inside lebanon. In a second wave of attacks targeting the terror group hezbollah, exploding walkietalkies and handheld radios killed at least 20 people and wounded hundreds more. Now this a day after exploding pagers killed at least a dozen and wounded thousands. Cbss Imtiaz Tyab has the latest developments from lebanons capital, beirut. Good evening, imtiaz. Reporter norah, good evening to you. Well, as you can imagine, lebanon is really on Edge Tonight after a second day of synchronized explosions of Communication Devices turned bombs, with many people telling us while hezbollah may be the target, they no longer trust their own phones and fear they could be next. In beirut, even funerals are no longer safe. After a second wave of mass explosions, including at a Burial Procession for four people killed in tuesdays pagers turned bomb attacks. Eyewitnesses say this time walkietalkies carried by hezbollah members exploded right before their eyes. The explosions were once again simultaneous and went off in cities and towns across lebanon. Hezbollah accuses israel of Turning Thousands of its communications devices into deadly weapons. With lebanese Security Officials saying tonight it was icomm Icv8 Transceiver radios, or walkietalkies, that detonated, killing at least 20 and wounding over 450. Although smaller in scale than tuesdays mass explosions involving pagers, that killed 12 people and left over 2700 with injuries so serious Emergency Dr. Dania el hallak, who treated around 200 patients, says shes never seen anything like it before. We started seeing people all blown up. Eyeballs ruptured, abdomen open, nose out, thighs open. It was very terrible. Reporter a Humiliated Hezbollah has vowed to take revenge against israel, as Cbs News has learned a taiwanese company, gold apollo, authorized the use of its branding on the pagers bought by hezbollah through a budapestbased company called Bac Consulting kft, based in this residence. But the hungarian government told us Bac Consulting is only a trading intermediary, with no manufacturing site, which means where the pagers were made remains an open question. So too is israels roll in all of this. And Israels Defense Minister has said a, a new phase of the war is underway, with focus on its northern front with hezbollah, as Cbs News has learned the israeli military has moved its 98th Division to a position in the north, just today. Norah . Norah Imtiaz Tyab, Thank You very much. For more lets bring in face the Nation Moderator and Cbs News chief foreign Affairs Correspondent margaret brennan. I know, margaret, you have been working with the phone and talking with sources. So how much did the u. S. Know about how this operation was carried out . Reporter well, norah, my sources told me the u. S. Was given a brief heads up about 20 minutes before Yesterdays Attack against hezbollah militants, but just the idea was something was about to happen. The Covert Operation was not shared in detail in advance. But we do know that the u. S. Is assessing, at this point, war is not inevitable. The biden administration still trying to broker both a ceasefire In Gaza and a deal between hezbollah and lebanon. Hezbollah in lebanon and israel. Norah its good to have you here, too, because some Breaking News just coming in about iran, regarding their efforts to try and undermine the u. S. Election. What do we know about what iran is doing . Reporter well, norah, u. S. Intelligence just disclosed that this summer there was a Hacking Campaign by iranian actors where they stole information from the Trump Campaign and sent it to members of the biden campaign. This is similar to that Hack And Leak Operation We Saw in august where information was stolen that was damaging to the Trump Campaign and given to journalists. In both cases, we dont have evidence the damaging information was used, but this is a loud warning by the Intelligence Community that as we get closer to the president ial election, we will see more actions by foreign actors to influence the outcome. Norah there is a lot of foreign influence in these elections. We will be on guard and watching and reporting on it. Margaret brennan, Thank You so much. Former President Donald Trump is holding a Campaign Rally Tonight on New Yorks long island, with his secret Service Security now essentially equal to that of a sitting president , following two apparent attempt on his life. We get details now from cbss Nikole Killion. She is at the event with trump tonight. Reporter former President Donald Trump back in Deep Blue New York tonight. With a new level of security following Sundays Arrest of a man after a second apparent assassination attempt, this time at his florida golf course. At a stop in manhattan, he was asked if he will keep golfing. You dont want to ever be curtailed because of the crazy people out there, the bad people, crazy people, whatever you want to call them. So we will let the Secret Service determine that. Reporter there was heavy security present outside the site of Tonights Rally at long island. Local Law Enforcement patrolled crowds on horseback and with k9 units. No concerns about safety. Listen, we are all here to support our guy. A lot of friends and family were spooked, but im a diehard. I think hes done good for the country. And i want to be here to support him. Reporter according to the Secret Service, the former president is now receiving the highest level of protection offered by the agency, essentially the same level as a sitting president. That includes counter assault, drone, sniper, and surveillance teams. Congressional investigators were briefed today by the Secret Service and some lawmakers worry about a potential copycat attack. I think every american should recognize that our elections should be decided by votes at a ballot box, not by an assassins bullet. Reporter in washington, Vice President Kamala Harris courted the latino vote and warned of massive deportations if trump returns to office, even as a new poll showed more than half of americans surveyed support trumps plan. They have pledged to carry out the largest deportation, a mass deportation, in american istory. Imagine what that would look like and what that would be. Reporter Harris And Trump were also vying for a coveted Labor Endorsement from the teamsters, but for the first time in nearly 30 years, The Union says it isnt Backing Either President ial candidate because they werent able to make serious commitments to the group. Norah . Norah Nikole Killion at the trump rally tonight, Thank You, nikole. There is Breaking News now from New York city, where Rapper Sean Diddy combs was again denied bail this evening in ordered to remain in jail until his trial on federal Sex Trafficking and racketeering charges. Combs has pleaded not guilty. Cbss Jericka Duncan reports. Reporter Sean Diddy combs listened as the judge ordered him to remain behind bars pending his trial, which could take at least a year. His family was visibly upset as they left the courthouse. Do you realistically see him spending most of the time behind bars before trial . Its very much of a possibility, at this point. Reporter combs is facing up to life in prison on multiple charges that include Sex Trafficking and racketeering. The 54yearold offered to post 50 Million bond, give up his Cell Phone and internet access, and restricting female visitors to family or mothers of his children, had he been released. The multimillion Dollar Grammy Winner will be housed at the metropolitan Detention Center in brooklyn, New York, an overcrowded facility that has been described as disgusting and inhumane. Prosecutors argued combs is a serial abuser who threatened and coerced women into performing sexual acts at events combs planned, which he called freak offs. Cbs news legal analyst rikki klieman. Why do you think combs might be treated differently at the Detention Center than other detainees . This Detention Center cannot afford the reality or the publicity of something bad happening to him. Reporter and tonight we learned new information about that 2016 attack in that hotel captured on Surveillance Video between combs and his exgirlfriend. Federal prosecutors released Text Messages between the two after the incident, where his exgirlfriend says, i have a black eye and a fat lip, crazy bruising. Combs goes on to say call me, cops are here. I got six kids. You going to abandon me all alone . Norah, this is just a taste of what we are going to hear at trial. Norah Jericka Duncan with that information. Thank you, jericka. New Crash Tests have uncovered an alarming Safety Concern on americas highways, and it involves electric vehicles. Thats coming up next. C vehicles. Thats coming up next. Hat diffe. Fisher Investments we are. 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