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CNN The Situation Room With Wolf Blitzer June 4, 2024 22:04:00

Justice department executed a search warrant on his electronic materials a few weeks ago. now we already know that the justice department was getting data out of john eastman s cell phone. they were searching jeffrey clark s home. this is another piece of that puzzle and a cooperator instead of someone who might be fighting against the justice department. very significant as well. kaitlan, stand by. want to bring in our senior analyst elie honig, elliott williams and ryan nobles, he s up on capitol hill. just how significant is this new development we just reported? well, wolf, this tells me that doj is bracing for battle, that they re willing to go into court in order to fight to get access to these high-level and potentially quite damaging conversations between donald trump and his advisors. now we know that these legal battles can take time. we ve seen them take over a year in similar contexts. it s really incumbent on doj to push the judges here to exbe tight diet. we ve also s ....

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CNN The Situation Room With Wolf Blitzer June 4, 2024 22:57:00

Tonight, american makers of the semiconductor chips are about to get a major boost after the u.s. house of representatives passed a bill which should significantly increase their manufacturing right here in the united states. cnn s miguel marquez has a closer look at one american company making the critically important chips. reporter: it is enormous. global foundries and semiconductor chip plant in new york. in this factory, how many chips are being made for products? we can produce roughly 1 million chips per day. reporter: the fab where the chips are made is about the size of six football fields and the process is so sensitive that one human hair could gum up the works and even the light has to be exposed. any exposure to ambiant light ....

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CNN The Situation Room With Wolf Blitzer June 4, 2024 22:58:00

Will affect the production. reporter: the chips go to cars, computer, video games, communications technology and the defense industry. we are at half a trillion right now in the chip production, and conservative, by 2030, we will be at a trillion. a trillion? yes, a trillion dollar industry, and when we double between now and 2030. reporter: the chips call for a billion dollar production here at home, and 18 states now produce the chips and they could benefit from the funding. the global foundries started to produce the chips here in 2012, and new york state kicked in $2 billion to help the country to secure another $13 billion to build the plant and today, employing 3,000 employees with a median salary of $90,000 at just this one plant, the expected effect of the chips act funding ....

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CNN The Situation Room With Wolf Blitzer June 4, 2024 22:15:00

Recession to me. reporter: as the the u.s. economy shrank for the second time this year, president biden focusing on the bright spots. we have a record job market, record unemployment of 3.6% today. businesses are investing in america at record rates. there is no doubt we expect growth to be slower than last year, and the rapid clip we had. that s consistent with a stable steady growth and lower inflation. reporter: biden s pushback coming as the latest gdp report showed the economy shrank by nearly 1% last quarter. the second consecutive decline fueling fears of a recession, or among some republicans that claim the u.s. is already there. sgr moments ago, new data confirmed what a super majority of americans already knew. democrats have plunged america into a recession. reporter: leading economists disagree, including the federal ....

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CNN The Situation Room With Wolf Blitzer June 4, 2024 22:16:00

Reserve chairman jerome powell. i do not think the u.s. is currently in a recession. the reason is, there are just too many areas of the economy that are performing, you know, too well. reporter: while the economy flashed warning signs, biden getting a boost from an unlikely place. congress. so far we have 217 yes votes. the house has passed it. reporter: the house passing a major bill to boost u.s. semiconductor production. in the senate, joe manchin and chuck schumer struck a surprise deal to advance a health care and climate spending bill. it s a big deal. reporter: that bill would represent the largest investment combatting climate change with $369 billion in energy and climate programs. including electric vehicles and clean energy tax credits with the goal of reducing carbon emissions 40% by 2030. the bill would also empower ....

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