until the midterms. when true democracy goes away, people get hurt. and it s hard to recover. we have to walk away from politics as usual. it s a choice between two vastly different visions for america. with the economy and inflation top of mind for voters, president biden is also focusing on the u.s. workforce set to deliver remarks on that this afternoon. about the same time, we re expecting the fed s announcement of another interest rate hike going up three quarters of a percentage point for the fourth consecutive time. what their decision today means for your wallet. new details rounding the attack on speaker pelosi s husband, paul. the washington post and nbc news confirm a live camera feed was rolling on the pelosi home on the night of the attack and the post reports that while cameras captured the break-in, no one was watching the feed at the time. ahead, new questions about security. we are going to start with the president s remarks tonight on threats t
headquarters here at 30 rockefeller center. donald trump s eldest son goes under oath in the $250 million civil fraud trial against the former president and his family business. donald trump junior took the stand late today in a new york courtroom, and before he testified managed to do what he loves to do most, crack a joke. i should ve worn makeup. today, prosecutors focused on his job running the trump family business with his younger brother eric, a role his father announced before entering the white house back in 2017. my two sons, who are right here, don and eric, are going to be running the company. they are going to be running it in a very professional manner. they are not going to discuss it with me. these papers are just some of the many documents that i ve signed turning over complete and total control to my sons. donald trump jr. is not just a witness in the case, he is also a defendant, along with his brother and his dad. and we see s laura jarred has more
will unemployment get a lot worse or a little bit worse. that s the most important thing is to have people employed and earn money. you said that you are seeing patterns that people are spending in a way that s more consist went a 2% inflation economy, not a 4% inflation economy. economists agree that inflation jumps as consumers are spending more. if spending has moderated so much, why hasn t inflation gotten markedly better? there is a lag. i talk about data coming for the mont month of june. what you are reading is we will get there? we will get there. and i think they have tipped it down, flattened down, tipped down in areas. you know, but there are areas where it s not necessarily tipping down the level they want. that s why we think it will take all of this year and all of next year to actually all of next year? 25 before they get inflation in line with long-term targets. fed chair powell said it was
what the fed would like to see of 2%. we re far from that. the question naturally is, the fed has done five interest rates hikes so far, the expectations for the sixth today. why hasn t inflation gone down yet? what does that mean for future hikes? credit card rates at 16% already. mortgage rates at 7% right now. americans are seeing those borrowing costs go higher, but inflation hasn t come down yet and economists are saying it might take 9 to 12 months for interest rates hikes to bite into aggregate measures on inflation or the labor market. we ll have to see whether or not that bleeds through. but jay powell is going to speak at a press conference, we ll see if he has anything to offer in terms of when we should see inflation go down. when we see the stock market s response to this and their reaction to what hasn t happened yet, by the way, it s down, why is that? i mean, if everybody thinks, okay, raising the rates is good because it means the economy cools down a little bit, we