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
of a dead classmate and playing d dead. he shot my classmates, i thought he would come back to the front and so i got a little blood and i put it all over me. let s go straight up to cnn s lauren fox at the capitol. lauren is listening to that young girl, listening to the parents. it is heart wrenching. the question is, what will congress make hearing? reporter: yeah, john, i heard from the lawmakers, one thing you heard they had never, never seen this close to the tragedy the kind of testimony that we heard today. that coming, of course, from a 4th grader who was in one of the class roorms where her classmates were killed, where her teacher was shot. that is the kind of emotional t including the chair woman hoped would change the mind of her colleagues. we also heard riveting and heart breaking testimony from the parents of lexi rubio. this is what her mother kimberly said about her last moments with her daughter. i called her and told her we loved her and would pick
This is cnns special live coverage of an historic vote on capitol hill. Im jake tapper. This has not happened in more than 100 years. But facing a revolt from a small but powerful group of republican hardliners, mccarthy says he will bring up a motion to vacate in the first series of votes today that is just minutes away. I truly believe, though, the institution of the house, at the end of the day if you throw a speaker out that has 99 of their conference, that kept government open and paid the troops, i think were in a really bad place for how were going to run congress. Speaker mccarthy says he thinks he will survive the vote and that he will not make a deal with democrats to keep his job but that may not even be an option anyway. Heres the speaker earlier today. Democrats have been huddling today. Democrats are signaling they will not be coming to Speaker Mccarthys rescue. Lets get right to the action on capitol hill. Cnns manu raju and lauren fox join me now. Manu, ill start with y
and actually go on record under oath and say exactly whatrivilew happened here. and they wouldn t they hid behind a privilege which they wouldn tas allow, which they wouldn t allow me to the judge the time narrowcast was on the executive privilege issue. i spent my whole life in washington. i see a lot of io acrimonious debates. but the idea you would sendn someone to prison because you don t like his political views, there s no allegation that you organize january 6th over there in front of the cameras looking fully insane. they don t like your politics. they hate your attitude didn t and they re trying to send you to jail. did you think this?s? i didn t think this could happen. we ll start there. did you think this could happen? 100% i think happened thisou is remember these guys all thought they were going to change china c, the chinese communist party. they re takingon on the aspects of the authoritarian state and state capitalism combined. this is the the elites that run this co
them. we can t know why police are on video letting people into the capitol complex on january 6th. why is that? not allowed to ask? and this is going to continue. as adam kinzinger said, this charade, which really does corrode the heart of our system . this will continue all the way to the midterms because as kinzinger was dumb enough to say the quiet part out loud, he admitted this is a political exercise once this investigation is not winding down, we may be towards the end of this tranche of hearings. we may have more hearings in the future and the investigation is still ongoing . so we re we re getting to the bottom of what we need to kknow. yeah, okay, we re getting to a the bottom. actually , you re preventingu ei legitimate obvious questions from being asked and just in point of fact, no matter how long these hearings go on,