he s been really quiet, really reserved, but very funny. just a quiet, dry humor. it will be interesting to see how one of the greats, their minds, translates the games for those who are watching it with them as opposed to those who are watching him play it. that s going to be the exciting part for me and everyone woiho a fan of football. it s hard to not like tom brady. it really is. thank you so much for being with us. now day continues right now. good morning to our viewers ear in the united states and all around the world. it is what day is it? it is wednesday, may 11th. i m john berman with breonna taylor brianna keilar. a vote needs 1r060 votes to pasn a senate that s currently split 5050. what it will do, says majority leader chuck schumer is get every member on the record on the critically issue of abortion rights. pennsylvania senator bob casey, one of the historically anti-abortion democrats says he will vote to codify the roe v. wade decision. this is com
Insider columnist, lynette lopez. everyone knows that inflation is happening right now. it s happening to all of us. what will make it better? well, it s obviously very difficult question, but i think the interest rate hikes will certainly help to curb inflation in the long run. it will come with some pain in the short run, but certainly the hikes will help to tamp that down. linnette, to you, inflation makes everyone gloomy and grumpy. it just does. it has that effect on people economically, politically, and everything else, but i was reading this article in the new york times, historically speaking, things are pretty good for consumers out there in terms of how much money they have, disposable income wise. home ownership, things like that. this is what makes the question of, oh, did the fed act too late or too early a little bit complicated. because you don t want to raise rates while the economy is weak. you want to make sure that the economy is strong enough to take
To bring it back down. reporter: the fed increasing rates half a percentage point, sending the cost of borrowing on everything from your credit card to a new car or home loan higher. mortgage rates already up. in just the last five months, the average 30-year fixed-rate mortgage has jumped from 3.4% to more than 5.4% today. in real terms, that means the mortgage payment on the median priced home has jumped from $1,511 a month to about $1,900 today. a $419 difference. the fed hoping the moves will help cool demand and stabilize prices. but some now asking did the fed act too late to stave off a recession? the fed is now not just hitting the brakes, but in some ways driving in reverse, using the rearview mirror to get to see where we re going. reporter: and david, while this means it will cost you more to borrow, it also means you ll be paid more to save your money in a bank or cd.
WASHINGTON, D.C. — U.S. Sen. the Rev. Raphael Warnock, D-GA, a member of the Senate Banking Committee and chair of the Subcommittee on Consumer Protection and Financial Institutions, applauded the