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CNN CNN Newsroom July 6, 2024



major consequences for all americans. just one hour from now the federal reserve is expected to roll out its eighth straight interest rate hike. experts, executives and the markets all hope it will be one of the smallest yet. just a few blocks away, down at the white house, president biden and house speaker kevin mccarthy will sit down for their first stare-down since mccarthy became speaker over the debt ceiling. if one doesn t blink soon, you can say goodbye to federal elt benefits and hello to a financial meltdown, all courtesy of your representatives on capitol hill. let s start with cnn s matt egan over at the fed. matt, is today the day that jerome powell starts to pump the brakes on these interest rate hikes? it certainly looks that way. it would be a big surprise if that didn t happen. fed officials have been dropping hints, strong hints for weeks now that they do plan to dial back this war on inflation today. the thinking is that the fed goes from a 50 basi ....

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