more on all of that later this hour. but first the critical decision set to drop soon from the federal reserve. and cnn business correspondent rahel solomon is here with us. walk us through what is to come in the next hour or so and why it really matters. so the expectation is that chairman powell will raise rates about three quurs of a percent. that is not one to one in terms of borrowing costs. we won t see borrowing costs raise 75 basis points. but it does influence all of the categories. so costs will continue to go up. and i want our viewers to enter understand what this really means for them, for their wallets. and i know you ve pulled a few examples. yeah, i ve been working the phones. let s start with credit cards. we ve already seen credit card rates accelerate quite rapidly this year. and right now the average rate is about 17.5%. according to bank rate, if you are holding a $5,000 balance which is the national average, you have a current ampt pr of 17.25%, if
the facts forming. reporter: and the freshman term pro trump riot er attacked the capitol. and he voted to impeach proemt over his role. now he could lose his job because of that vote. is that concern of yoers that you got defined by this? i think that you always have a moment where you say i could take the easy way or i can actually follow where my conscience is. if your number one job in office is to stay in office, you should find another job. reporter: you don t regret that vote? not for a second. reporter: despite maintaining a conservative voting record, republicans see him as the clear underdog in next tuesday s primary. yeah, its of the biggest career ending move in history. reporter: john gibbs is trying to unseat him, former housing official who has the support of the former president,
the last thing before we go tonight, you may want to head outside for one of the most active meteor showers of the year, which peaks tonight. the washington post points out the geminid meteor shower is expected to produce dozens of meet yore showers every year, named after the constellation gemini, known for their long tails, appearing green and amber. the post explains despite how bright they appear most meet yoers are no larger than a grain of race. they form from departed comets or asteroids which earth plows through at the same time every year in its annual orbit around the sun. the source of the debris is a 3.6 mile wide asteroid known as
importantly than two thumbs up from someone. i have to ask you about a major reboot coming up. steven spielberg s west side story featuring lyrics by the late and great steven sondheim who died on friday. how cathartic will that film be for you? well, i think it is important that it did have his blessing and there is so much that he did that, you know, you talk about reboots as far as films are concerned but then you think about reboots as far as theater is concerned. so many plays are done many yoers apart with different actors but a different art form. so i feel like i think people are going to because of sondheim s unfortunate and untimely death people will be interested especially since it is steven spielberg but like we re saying west side story
former president trump s ability to overturn inability to overturn the election was not for lack of trying. rioters stormed the capitol and had every intention of inflicting violence on members of congress, former vice president mike pence, but again, former president trump is the figurehead of the republican party. you know, they ve already made their bed and now they just, this is a never ending cycle we ve been talking about for six yoers and because january 6th and the idea the election was fraudulent is so central to trumpism republicans will continue to go along with it. the last point on this, it is unbelievable how many of the republicans who are pretending this was normal, didn t happen, or that there was fraud or whatever, unbelievable how many of them who are participating in this lie to their voters were on the same ballots elected by the same people the same day but somehow their elections were fine. thanks one and all. appreciate it. pfizer asks the fda to authori