more on all of that later this hour. but first the critical decision set to drop soon from the federal reserve. and cnn business correspondent rahel solomon is here with us. walk us through what is to come in the next hour or so and why it really matters. so the expectation is that chairman powell will raise rates about three quurs of a percent. that is not one to one in terms of borrowing costs. we won t see borrowing costs raise 75 basis points. but it does influence all of the categories. so costs will continue to go up. and i want our viewers to enter understand what this really means for them, for their wallets. and i know you ve pulled a few examples. yeah, i ve been working the phones. let s start with credit cards. we ve already seen credit card rates accelerate quite rapidly this year. and right now the average rate is about 17.5%. according to bank rate, if you are holding a $5,000 balance which is the national average, you have a current ampt pr of 17.25%, if
federal gas tax holiday. and that is why his economic policy has been so foundational to expankd econoding economic g. even the infrastructure law, we are currently putting in place and making investments that will reduce broadband costs that him pr improve supply chains. and i will say that congress can sign and send to the president or they can pass and send to the president right now a bill to pre pre-reduce prescription drug costs and the chips bill. and coming back to the tariffs.re-reduce prescription costs and the chips bill. and coming back to the tariffs.e-reduce prescription ds and the chips bill. and coming back to the tariffs.-reduce prescription dr and the chips bill. and coming back to the tariffs.reduce prescription dru and the chips bill. and coming back to the tariffs. you are his economic adviser. should he ease back on the tariffs? we understand that there are many economic impacts of those tariffs. and it is not a secret made many people have estimated t
at least for some? on that sub ect, bt hikes broadband costsfi bt hikes broadband costs. this is the sto , bt hikes broadband costs. this is the story, broadbent bt hikes broadband costs. this is the story, broadbent is bt hikes broadband costs. this is the story, broadbent is going - bt hikes broadband costs. this is the story, broadbent is going to. bt hikes broadband costs. this is i the story, broadbent is going to go up the story, broadbent is going to go up by about 9.3% broadband. the telegraph telling it an effective tax on working from home. this is something that is going to add on. broadband bills are proportionately much smaller than other household bills your gas and electricity but again it is just another thing to add on, another thing to to people further over the edge or towards the edge, and we are approaching a cost of with inflation increasing, with gas bills and ultra city bills going up, shopping bills going up electricity bill. it is just one more
russian administration. i powerplay between the us and the russian administration. powerplay between the us and the russian administration. i don t know if it is a coincidence russian administration. i don t know if it is a coincidence or russian administration. i don t know if it is a coincidence or not, - russian administration. i don t know if it is a coincidence or not, but - if it is a coincidence or not, but reuters is reporting biden s lowest poll figures are the lowest of his presidency. let s move on, kieran, from the ft. i should say in passing, since we talked about it on tuesday night, the great hamster coal, planned by the chinese and hong kong because of covid infection, according to the ft, people are sending, giving $25,700 to hire private just people are sending, giving $25,700 to hire privatejust to people are sending, giving $25,700 to hire private just to get themselves and their hamsters out of hong kong before the axe falls on the hapless animals privateje
if you earn £100,000, you will be paying 19% more than you did, just over £1,000. but the thing that really struck me is that people just haven t computed what this is going to mean, and when they add it up, even though £255 a year might not sound much to somebody on the average salary, like stephanie says, when you add on the energy bills, the council tax rise, broadband costs are going up by 10%, the cost of food, and that is disproportionately affecting lower earners, as the ons recognised this week, listening to jack monroe, which was a good thing for them to do, it is disproportionately hitting lower earners. and the thing about energy bills as well is that actually, it s like the light from a star. your energy bill now is the cost of energy a few months ago being passed on to you. so energy bills are going to go up and up over the rest