tightened too much. indeed, suggests that we still have work to do. if you ever find an airline pilot said it worked with the federal reserve, get off that aircraft. the 16th largest u.s. bank chanced today and took a nervous stock market with it. the latest talk is that this might pause the federal reserve in this latest interest rate hike cycle. the betting seems to be when they gather next week, maybe no rate hike, period. neil: one year, can you believe it? a year ago today it all started. eight interest rate hikes later, the federal reserve must decide whether next week it should make it a ninth. even as credit swiss is receiving a $54 billion life line to keep it going. news hoff a $30 billion rescue for a bank, first republic. that helped stocks rebound. we re tracking it all, this incrediblier and where we stand now from main street to wall street, from the federal reserve to capitol hill to the white house as well. with rich and robert on what could be the ne
coast of myrtle beach, south carolina, collecting the wreckage of the downed balloon. republicans are condemning president biden for failing to take action on the balloon sooner. let s get the latest on the balloon and today s recovery efforts, zachary cohen is here. zachary, what more are we learning about this balloon and, i guess, at some point, they need to pull it up out of the ocean and start examining it. i think at this early stage, u.s. officials are not buying the chinese government s explanation that it was a civilian aircraft. they have strongly indicated, defense officials and administration officials, strongly told us that this was used for spying and they believe it was used to try to collect data about sensitive u.s. military sites across the country. now, that raises an being question, though, and one that the biden administration is going to have to grapple with in the next few days. they know that was the intent of this balloon, why did they not shoot it
administration acted indecisively and waited too long, letting the balloon float across the continental u.s. for days. president biden says the military advised him there would be less danger to the public in shooting down the balloon once it got over the ocean. lawmakers are reacting sharply and along party lines. i want to start by doing something that i don t do very often, which is commending joe biden for actually having the guts to shoot this down. that was the right thing to do. that is absolutely what the president should have done. unfortunately he didn t do that until a week after it entered u.s. airspace. they re saying we should have shot down the balloon the minute we saw it. i would use two words in answering these gop criticisms. they are premature, and they are political. presidents have the ability to go before a camera, go before the nation and basically explain these things early on, and his failure to do so, i don t understand that. i don t understan
hello and welcome to our viewers joining us here in the united states and all around the world. you are watching cnn newsroom, and i m rosemary church. just ahead, america s school shooting epidemic. vigils held for the victims of the michigan state university shooting, as the country marks five years since the massacre at a high school in parkland, florida. we will hear from survivors of both tragedies. a new report says thousands of ukrainian children have been held in russian camps to be reeducated, militarily trained, and even forcibly adopted. and as the death toll in the turkey/syria earthquake continues to rise, images of rescue teams finding survivors under the rubble offer a glimmer of hope. we ll have a live report from istanbul. live from cnn center, this cnn newsroom. with rosemary church. thanks for being with us. well, investigators say the gunman who killed three students at michigan state university was likely planning more shootings. they found a
this week that their recommendation to president biden was not to shoot this down because of risk to people and property below. so this balloon made its way across a good chunk to have united states, from montana on tuesday and wednesday to where it is now over essentially north carolina where it s reaching the coast and open water beyond that where you no longer have the risk to people and property below. therefore, the question then becomes, does the military change its recommendation and recommend to president joe biden if you go ahead and follow the we ll take care of it, that will be the time and the place to shoot this down. it is worth noting, i ve been watching flight tracking websites pretty much all morning. there we ve seen some note worthy flight activity. a couple refuelling tankers right off the coast of myrtle beach essentially flying in a holding pattern. why is that note worthy? because fighters that could be used to shoot this down might need to refuel as th