democracy itself is on the ballot. plus on the trail, former president trump stumping across several states in the final days of the race, hitting ohio, florida, pennsylvania and iowa. we ll take you there. a cnn exclusive. new 911 audio in a uvalde student trapped inside the classroom as the gunman continued his rampage in the school. what her parents want us all to hear now. let s begin this morning with president biden s stark warning. cnn white house correspondent m.j. lee is on the north lawn. m.j., walk us through president biden s closing election. five days before the midterms he had some very harrowing words. reporter: yes, jim. president biden saying he thinks we re at a generational inflection point, that what we re confronting right now is so much bigger than politics. he said this is not about me, not even about the last election or the upcoming midterm elections. he said this is all about the future of our country. he began his remarks notably by talking a
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you know. this will wake up the kids. come on, kids. thank you. steve. where are we going? let s start with your first chart, fed pauses the hikes, signals more what? there s a lot of red squiggles, there s blue squiggles, oh, yeah, right. okay, anyway, so the fed increased interest rates, tenth consecutive meeting it s done that. i don t think it ever did that before, and you can see the pace of increases compared to all the other previous tightening cycles for the last 40 years, this has been the steepest, the fastest because we obviously know that we have an inflation problem and we have to deal with it. as you said, mika you used both the words skip and and it was interesting because jay powell also used the words skip but said pause because he did not want to commit himself to another interest rate increase but did go from 5% to 5.5% end
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the inflation we re living through right now already feels really bad, and a lot of people in this country already feel like it s a recession. he s got to kick that. he s got to get rid of that. that may mean you spark a recession which isn t honestly wouldn t be as bad as what we re living through right now. you can see that often when the fed goes on a series of tightening cycles, rate hikes, a recession can follow. it has happened not every time, but it has happened in the past. the fed chief, you picked exactly the right sound bite you were talking about there. the inflation picture has become more challenging. to the extent that rates have to go higher and stay higher for longer, it becomes harder to see the path that avoids a recession. that s what he warned people yesterday. not comforting to hear. christine romans, thanks very much. you re welcome. with just five days to election day, concerns are growing about threats of political violence in this country. the latest i
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