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12 months. This smoking hot red high its omaha steaks, redhot sale event. Save on everything including are usdacertified tender, fully mignon burgers free order. Now, at omaha steak. Com Slash Tv and Radio Eat im Natasha Bertrand at the pentagon. And this is cnn this is cnn Breaking News we do have Breaking News just into cnn, the Federal Reserve making its announcement on Interest Rate cuts. Lets take you straight to the Federal Reserve in cnns matt egan. Matt, what does the fed say . The fed just delivered its first Interest Rate cut since covid and it is a big one, half a Percentage Point, this is a major milestone for the economy and it does signal greater help on the way for borrowers who are struggling with painfully i Interest Rates on stuff like credit cards, and Mor ....
you are in the cnn newsroom. i m paula reid in washington. jim acosta is off. a major move today in an attempt to halt a global banking crisis. switzerland s largest banking group ubs just agreed to buy its rival credit suisse in an emergency rescue bid. the purchase is aimed at halting investor panic brought on by two sudden u.s. bank failures this month. the deal comes after shares of the ailing bank lost 25% over the last week. even an emergency loan from the swiss national bank failed to stop the fallout. cnn reporter anna stewart will join us in just a moment, and cnn global economic analyst, rana foroohar joins us now. all right, rana, can you explain to us this deal? yeah, absolutely. so a little bit of con context. credit suisse has been a troubled bank for some time. so this, you know, this is a bank that over the last couple of years has had any number of crises. it s been considered weak in the marketplace. even late last year, it was having its own probl ....
united states and all around the world. i am rosemary church. just ahead on cnn newsroom, u.s. house republicans and narrowly pass a bill to raise the country s debt limit, the fight with democrats and the white house is far from over. explicit and dramatic testimony, as the woman accusing donald trump of sexual assault takes the stand. plus prosecutors and now say the classified intel stolen by the 21-year-old in national guardsmen exceeds what s been reported. and the human side of the conflict incident, we will hear from a man whose mother died in his father s arms. after a mortar attack. good to have you with, us well republicans in the u.s. house are claiming a major victory passing a bill to raise the nation s debt limit potentially avoiding economic catastrophe. but their celebration will be short lived. the measure is dead on arrival in the senate, where democrats object to huge cuts in federal spending. the bill passed by only two. both but republicans say it w ....
disastrous showing the biggest spike in consumer prices in over 40 years that the fed felt the need to move fast here to take a page out of the playbook of alan greenspan and paul volker with a very big interest rate increase, and they signaled that more aggressive steps are to come because that official said they are, quote, strongly committed to getting inflation back down to 2%. and given that it s nowhere near 2% right now, that does imply more big rate increases to come. as far as why this is happening, i think it s important to think about the economy as almost like a car on a highway, and the fed is the driver. when it needs to speed the car up, it will cut interest rates to stimulate demand. right now we have the opposite situation. it s going dangerously fast, and so the fed needs to slow things down. it s actually slamming the brakes on the economy. the problem here, victor, for the fed is if they don t do enough inflation can go out of control. if they do too ....
you re driving. gas prices are ridiculous. welcome to a special edition of the lead. i m pamela brown in for jake tapper on this memorial day. and we start with our national lead. and the first funeral services for the victims of the horrific massacre in uvalde, texas. today the families and communities honored the memory of 10-year-old amerie jo garza and mighty rodriguez. and amid the grief in uvalde, a demand for answers as to why police waited out in the hallway for more than an hour before breaking into the classroom where the killing was happening. now, the justice department says it will review the law enforcement respaonse to the shooting. adrian broaddus reports on a child s desperate 911 calls from inside the school. this is how those who love 10-year-old amerie jo garza will remember her. a decade of photos showing a happy girl with a sweet smile, described by family as sassy and funny and a diva who hated wearing dresses. memories of happier times as h ....