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lower but to put that into context it was at zero in europe this time last year. and in the world s largest economy the us, the cost of borrowing is at 5% to 5.25%. but critics point out rising interest rates is a blunt tool that comes with its own set of dangers that can pose further risks to the economy. so what else can be done? well, central bankers are getting together today in portugal to chew over this challenge. joining me now isjennifer mckeown chief global economist at capital economics. good morning to you, jennifer. so it s a lovely location, portugal, you got christine lagarde there, andrew bailey, jerome powell among others, what do you think they will chew on? of course they re all increasing the cost of borrowering and in some places like the uk, so far it s having little effect. little effect. yeah, you re ri . ht. little effect. yeah, you re right. beautiful little effect. yeah, you re right. beautiful location, | little effect. yeah, you rel rig ....
Warrant. It sounded like World War Iii. Norah the Cbs Evening News starts now. Good evening. I am norah odonnell, and thank you for being with us. Were going to begin with that breaking news, a deadly attack on federal and local Law Enforcement officers in charlotte, north carolina. As we come on the air, the fbi is now among multiple Law Enforcement agencies at the scene of a suburban home where three members of a u. S. Marshal task force were killed. And five others injured while executing a fugitive warrant. We are just learning that Arrest Warrant was for possession of a firearm by a convicted felon. And two occupants of that house are now being questioned. There were reports that as many as 100 shots ra ....
Good evening, and thank you for being with us. Im Margaret Brennan in for norah. We begin tonight with breaking news. Dozens of tornadoes touched down in at least three states, including texas, oklahoma, and nebraska. Take a look at this massive funnel cloud tearing across an interstate north of lincoln, nebraska. Large pieces of debris can be spotted flying through the air as the Twister Spins just out of control. In addition to tornadoes and torrential downpours, parts of texas, including arlington, were hit with hailstorms, some as large as golf balls. And the threat is far from over. This dangerous system will stretch from michigan to texas, with twisters, large hail, and damaging winds straight through the weekend. It is tornado season, and cbss Omar Villafranca will start us off tonight from ennis, texas, which ....
Things is if issues going into next year, if we re hearing the economy has avoided the recession, inflation the falling, the interest rates have peaked and we re going to see rate cuts next year, then that could give him a much more positive trajectory going into that election late next year. but again he does very much need the kind of things to fall in order in orderfor need the kind of things to fall in order in order for that to be the case. in order in order for that to be the case. craig, thank you. good to see be the case. craig, thank you. good to see you. be the case. craig, thank you. good to see you. craig - be the case. craig, thank you. good to see you. craig erlaml good to see you. craig erlam there, senior market analyst at oanda. that is something we ll keep an eye on as well. president biden s speech later, his economic vision as he basically initiates a campaign to claim credit for the us post pandemic resurgence, will it win him votes or not. something we ll tal ....