crew has reached the site where a u.s. drone crashed in the black sea after being hit by a russian jet. i ll ask key white house official john kirby what, if anything, the kremlin might learn from the wreckage. also tonight stock prices slide amid fresh chaos in the banking industry. two troubles at two banks atting to fears more failures on the horizon as many americans are wondering if their money is safe. and former trump lawyer michael cohen just wrapped up his second round of testimony in the investigation of hush money he says he paid to stormy daniels. the adult film star meeting with prosecutors today as a grand jury considers criminal charges against the former president. welcome to our viewers here in the united states and around the world. i m wolf blitzer. you re in the situation room. announcer: this is cnn breaking news. let s get straight to the breaking news. sources now telling cnn that russian naval craft have arrived at the site of the u.s. dron
west and winter storms out east. and now, rite aid and how the drugstore is being accused of fueling the opioid epidemic. this is what we are watchingt that hour. thank you for being here, i m kate bolduan, and we are beginning with the turmoil, the fallout, and the wild ride that has already been this week since the abrupt collapse of silicon valley bank. and the federal reserve is looking at the oversight of the bank and what went wrong and who missed what. the regional banks are bounce back after confidence of the institutions were shaken yesterday. this is how the stocks are performing right now. that is not all that is shaking up the economic picture this morning. we got the latest read of inflation. the government reporting that inflation fell for the eighth straight month in february. matt egan and john solomon joining us u no. matt egan to you, what are we seeing? we are seeing that the pressure is easing here, and the fact that the regional bank shares fell, an
bring down inflation or ease up on the fight to calm the banking sector. downplayed the federal reserve through all of this. we started out the sa santa clas by bringing zero interest rates which pushed people out of saved investments into venture capital. they became the arsenate dome arsenate during covid m no one would loan it to us the $5 trilf thin air and that caused inflation. but don t worry, they came in as the firefighters to put the fire out by dousing it with high interest rates. now, they are like the triage doctor to stabilize the patients, which are the banks. ashley: alexandria hoff with more from washington, alex. good morning, the federal reserve is in a tricky spot with rising consumer prices being revealed today. it has led to a rate hike but giving the turmoil the interest rates have caused the fight against inflation may have to be placed on hold. it was an attempt by silicon valley to lower interest rate risk which led to selling off securities we
contractor was killed and five u. s service members injured when an iranian made drone struck a base in northeastern syria. the us then retaliated with an air strike to the south. this is video posted online that reportedly captures the strike on one facility linked to iran s revolutionary guard in syria. cnn s natasha bertrand is at the pentagon for us, natasha what more are you learning? brianna will we are learning that those wounded u. s service members are now in stable condition and we are told that this drone the suspected iranian drone that targeted that coalition military base in northeastern syria, it was a quote suicide drone. it was used as a one and done type drone just to attack and then depart. and we are told that the us did retaliate. of course they did target facilities inside syria that they believe that the iranian proxy groups were using in order to store munitions as well as gather intelligence. and this is not the first time that the us has targeted ira