Now at breaking point. [bell ringing] norah major news for the economy. The fed cutting Interest Rates for the first time in four years. What it means for your wallet. Its a huge problem, and its getting worse and worse. Norah and Tonights Eye on america. Mortgage rates are coming down, but what about the Supply Shortage of homes . We look at one solution. Im the first person in my family to be a homeowner. Norah the Cbs Evening news starts now. Good evening. Im norah odonnell, and Thank You for being with us on this wednesday night. Theres a lot of news at home and around the world, and we want to start with the number one issue for americans the economy. The federal reserve made a big move today, cutting rates by half a percentage point. Thats more than expected, and it is the first Rate Cut since the Covid Pandemic in 2020 and the largest since the 2008 financial crisis. So tonight the big question is, what does it mean for your Credit Card bills, your mortgage, your auto loans, and your pocketbook . And how soon could you feel the effects of the Rate Cut . Cbss senior Business And Tech correspondent Jo Ling Kent leads us off tonight with some of those answers. Reporter after months of anticipation, the federal Reserve Today aggressively reduced the cost of borrowing for the first time in four years, with a Half Point Rate Cut. Our Patient Approach over the past year has paid Dividends Reporter the Central Bank sending rates down from there more than 20year high. What message are you trying to send american consumers, the american people, with this unusually large Rate Cut . I would just say that, you know, the u. S. Economy is in a good place, and our Decision Today is designed to keep it there. Reporter inflation has cooled off from its peak of more than 9 in 2022 to 2. 5 last month, as the Jobs Market shows signs of weakening. Is the federal reserve effectively declaring a decisive victory over inflation and rising prices . No. Were not. Were not saying mission accomplished or anything like that, but i have to say, though, we are encouraged by the progress that we have made. Reporter the effects of this Rate Cut will take time to trickle down to consumers. For Credit Card debt, Halfpoint Reduction will mean 2 off monthly Interest Payments on a 5,000 balance. Payments on a new, fiveyear, 35,000 Car Loan will drop by 8 a month. And monthly payments on a 50,000 Home Equity Line would go down by 21. I may need a new vehicle, but those are definitely considerations that you have to take in mind during these tough times. Reporter this jumbo Rate Cut is welcome news for Gladys Ospina in california, who wants to update her car and help her brother buy his first home as soon as possible. It gives us options. In the case of my brother, to be able to help him and see him in a better position, where he is able to buy his first home. Norah and Jo Ling joins us now. So this Halfpoint Cut is more than expected. But how many more cuts could there be by The End of the year . Reporter well, the fed is forecasting to more Rate Cuts before The End of the year in november and december, totaling another Half Point, with more coming next year, but fed Chair Powell emphasized to all of us they are deciding this meeting by meeting. The data really matters here, norah. Norah what a day. Thank you very much. Now to the Middle East and another highly unusual attack inside lebanon. In a second wave of attacks targeting the terror group hezbollah, exploding walkietalkies and handheld radios killed at least 20 people and wounded hundreds more. Now this a day after exploding pagers killed at least a dozen and wounded thousands. Cbss Imtiaz Tyab has the latest developments from lebanons capital, beirut. Good evening, imtiaz. Reporter norah, good evening to you. Well, as you can imagine, lebanon is really on Edge Tonight after a second day of synchronized explosions of Communication Devices turned bombs, with many people telling us while hezbollah may be the target, they no longer trust their own phones and fear they could be next. In beirut, even funerals are no longer safe. After a second wave of mass explosions, including at a Burial Procession for four people killed in tuesdays pagers turned bomb attacks. Eyewitnesses say this time walkietalkies carried by hezbollah members exploded right before their eyes. The explosions were once again simultaneous and went off in cities and towns across lebanon. Hezbollah accuses israel of Turning Thousands of its communications devices into deadly weapons. With lebanese Security Officials saying tonight it was icomm Icv8 Transceiver radios, or walkietalkies, that detonated, killing at least 20 and wounding over 450. Although smaller in scale than tuesdays mass explosions involving pagers, that killed 12 people and left over 2700 with injuries so serious Emergency Dr. Dania el hallak, who treated around 200 patients, says shes never seen anything like it before. We started seeing people all blown up. Eyeballs ruptured, abdomen open, nose out, thighs open. It was very terrible. Reporter a Humiliated Hezbollah has vowed to take revenge against israel, as Cbs News has learned a taiwanese company, gold apollo, authorized the use of its branding on the pagers bought by hezbollah through a budapestbased company called Bac Consulting kft, based in this residence. But the hungarian government told us Bac Consulting is only a trading intermediary, with no manufacturing site, which means where the pagers were made remains an open question. So too is israels roll in all of this. And Israels Defense Minister has said a, a new phase of the war is underway, with focus on its northern front with hezbollah, as Cbs News has learned the israeli military has moved its 98th Division to a position in the north, just today. Norah . Norah Imtiaz Tyab, Thank You very much. For more lets bring in face the Nation Moderator and Cbs News chief foreign Affairs Correspondent margaret brennan. I know, margaret, you have been working with the phone and talking with sources. So how much did the u. S. Know about how this operation was carried out . Reporter well, norah, my sources told me the u. S. Was given a brief heads up about 20 minutes before Yesterdays Attack against hezbollah militants, but just the idea was something was about to happen. The Covert Operation was not shared in detail in advance. But we do know that the u. S. Is assessing, at this point, war is not inevitable. The biden administration still trying to broker both a ceasefire In Gaza and a deal between hezbollah and lebanon. Hezbollah in lebanon and israel. Norah its good to have you here, too, because some Breaking News just coming in about iran, regarding their efforts to try and undermine the u. S. Election. What do we know about what iran is doing . Reporter well, norah, u. S. Intelligence just disclosed that this summer there was a Hacking Campaign by iranian actors where they stole information from the Trump Campaign and sent it to members of the biden campaign. This is similar to that Hack And Leak Operation We Saw in august where information was stolen that was damaging to the Trump Campaign and given to journalists. In both cases, we dont have evidence the damaging information was used, but this is a loud warning by the Intelligence Community that as we get closer to the president ial election, we will see more actions by foreign actors to influence the outcome. Norah there is a lot of foreign influence in these elections. We will be on guard and watching and reporting on it. Margaret brennan, Thank You so much. Former President Donald Trump is holding a Campaign Rally Tonight on New Yorks long island, with his secret Service Security now essentially equal to that of a sitting president , following two apparent attempt on his life. We get details now from cbss Nikole Killion. She is at the event with trump tonight. Reporter former President Donald Trump back in Deep Blue New York tonight. With a new level of security following Sundays Arrest of a man after a second apparent assassination attempt, this time at his florida golf course. At a stop in manhattan, he was asked if he will keep golfing. You dont want to ever be curtailed because of the crazy people out there, the bad people, crazy people, whatever you want to call them. So we will let the Secret Service determine that. Reporter there was heavy security present outside the site of Tonights Rally at long island. Local Law Enforcement patrolled crowds on horseback and with k9 units. No concerns about safety. Listen, we are all here to support our guy. A lot of friends and family were spooked, but im a diehard. I think hes done good for the country. And i want to be here to support him. Reporter according to the Secret Service, the former president is now receiving the highest level of protection offered by the agency, essentially the same level as a sitting president. That includes counter assault, drone, sniper, and surveillance teams. Congressional investigators were briefed today by the Secret Service and some lawmakers worry about a potential copycat attack. I think every american should recognize that our elections should be decided by votes at a ballot box, not by an assassins bullet. Reporter in washington, Vice President Kamala Harris courted the latino vote and warned of massive deportations if trump returns to office, even as a new poll showed more than half of americans surveyed support trumps plan. They have pledged to carry out the largest deportation, a mass deportation, in american istory. Imagine what that would look like and what that would be. Reporter Harris And Trump were also vying for a coveted Labor Endorsement from the teamsters, but for the first time in nearly 30 years, The Union says it isnt Backing Either President ial candidate because they werent able to make serious commitments to the group. Norah . Norah Nikole Killion at the trump rally tonight, Thank You, nikole. There is Breaking News now from New York city, where Rapper Sean Diddy combs was again denied bail this evening in ordered to remain in jail until his trial on federal Sex Trafficking and racketeering charges. Combs has pleaded not guilty. Cbss Jericka Duncan reports. Reporter Sean Diddy combs listened as the judge ordered him to remain behind bars pending his trial, which could take at least a year. His family was visibly upset as they left the courthouse. Do you realistically see him spending most of the time behind bars before trial . Its very much of a possibility, at this point. Reporter combs is facing up to life in prison on multiple charges that include Sex Trafficking and racketeering. The 54yearold offered to post 50 Million bond, give up his Cell Phone and internet access, and restricting female visitors to family or mothers of his children, had he been released. The multimillion Dollar Grammy Winner will be housed at the metropolitan Detention Center in brooklyn, New York, an overcrowded facility that has been described as disgusting and inhumane. Prosecutors argued combs is a serial abuser who threatened and coerced women into performing sexual acts at events combs planned, which he called freak offs. Cbs news legal analyst rikki klieman. Why do you think combs might be treated differently at the Detention Center than other detainees . This Detention Center cannot afford the reality or the publicity of something bad happening to him. Reporter and tonight we learned new information about that 2016 attack in that hotel captured on Surveillance Video between combs and his exgirlfriend. Federal prosecutors released Text Messages between the two after the incident, where his exgirlfriend says, i have a black eye and a fat lip, crazy bruising. Combs goes on to say call me, cops are here. I got six kids. You going to abandon me all alone . Norah, this is just a taste of what we are going to hear at trial. Norah Jericka Duncan with that information. Thank you, jericka. New Crash Tests have uncovered an alarming Safety Concern on americas highways, and it involves electric vehicles. Thats coming up next. C vehicles. Thats coming up next. Hat diffe. Fisher Investments we are. 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But sometimes i Cant Help due to burning and stabbing pain in my hands, so i use nervive. Nervives clinical dose of ala reduces Nerve Discomfort in as little as seven days. Now i can help again feel the difference with nervive. Norah new research is shining a light on an unexpected danger on our highways, and Cbss Kris Van cleave reports it may get worse as more americans switch to electric vehicles. [crashing] reporter New Crash tests indicate the Safety Infrastructure lining the nations roads may not be strong enough to handle impacts from some electric vehicles, which tend to be heavier than their gaspowered counterparts. Here tearing through the guard rail, or essentially lifting a similar barrier and passing below it. Unfortunately these Guardrail Systems which are performed very well with Gasoline Vehicles historically do not appear to be containing electric vehicles when impacting with similar types of conditions. Reporter in july, The Universe to nebraska rammed this 7,000pound electric pickup into concrete barriers commonly used as Freeway Medians at 62 miles per hour. The truck weighs 2,000 pounds more than a gaspowered pickup. The barriers contained the collision, but chunks of concrete went flying, and some of the 5,000pound barriers were pushed back 10 feet, 50 more than normal. We are trying to create awareness so that there can be more research done. Reporter Nebraska Senator Deb Fischer watched the test life. Did you expect to see what you saw . It was eyeopening. There was a lot damage. If there would have been vehicles on the other side of that barrier, we would have seen a severe accident. Reporter more than 19,000 people died in crashes where the vehicle left the roadway last year. All traffic deaths. This is how a guardrail is supposed to work. Redirecting a vehicle back towards the road. But watch what happens when an electric sedan hits a standard guardrail. During new testing from the texas transportation institute, the guardrail fails as the sedan rips through. In march, Senator Fischer asked Ntsb Chair Jennifer Homendy about the issue. Our guardrails and crash attenuators, they are rated up to 5,000 pounds. Many of these vehicles go up to 10,000 pounds. So that has an impact on safety. Reporter a potential impact hitting the roads in evergrowing numbers. Kris van cleave, Cbs News, washington. Norah Eye On America is next, with a push to reshape neighborhoods to meet the demand for more homes. Why some are saying yes in my backyard. I got the power of 3. I lowered my a1c, cv risk, and lost some weight. In studies, the majority of people reached an a1c under 7 and maintained it. Im under 7. Ozempic® lowers the risk of major cardiovascular events such as stroke, Heart Attack, or death in adults also with known heart disease. Im lowering my risk. Adults lost up to 14 pounds. I lost some weight. 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Experts say as many as 6 Million new homes are needed to meet the demand. In Tonights Eye on america, Ashhar Quraishi introduces us to a growing movement to Add Housing by changing the way we think of traditional neighborhoods. So this is my favorite one. I might have to put this one upstairs in my office. Reporter for the first time in her 67 years, Rebbecca Hemmans is settling into a home she owns. So that was always a dream and a goal for me. Reporter a dream and a goal that wasnt very easy to achieve. Not at all. Reporter though its not exactly how she imagined it. Once i had this dream about living in a singlefamily home and sitting on my porch with my table of lemonade and glasses for the neighbors to wave at. Reporter she couldnt afford a singlefamily home near minneapolis, but multifamily housing made her dream of homeownership possible. Looking for housing is a tedious journey. Reporter how big of a problem is affordable housing in the Twin Cities . Its a huge problem, and its getting worse and worse yearoveryear. Just as an example, the past five years, i think, our median Housing Price has increased by 100,000, which is a huge increase. Reporter Realtor Paige Kahle is part of a growing nationwide coalition of prohousing advocates who think more Building Density can solve the problem. Its called the yimby movement, short for yes in my backyard. It pushes for an end to singlefamily zoning, making way for more multipleunit buildings to create more affordable housing. So if you have four units on a singlefamily site, as opposed to one unit, you are able to, you know, spread out the Land Costs and the Infrastructure Costs to four different housing units. Reporter minneapolis passed a plan to do that by 2040, but environmentalist and some homeowners opposed the changes. The 2040 plan will hurt the uniqueness, the character, and the architectural Heritage And Charm of many singlefamily home neighborhoods. Reporter its controversial. There were a lot of people in the community that had strong feelings about it, for sure. Reporter Alen Tchourumoff is with the minneapolis federal reserve. The Real Question is will it work . Yet to be known. Reporter over the next ten years, she will track the economic impact. This is not going to happen overnight beards. Correct. Even if you drive down the street, you can see a lot of cranes. I think from that standpoint come i would say that is positive. That there is a number of new units coming online every year. Reporter minnesota lawmakers have been considering taking the rezoning Reforms State wide. Other places that have also implemented yimby policies include california, oregon, massachusetts, and montana. None of the singlefamily homes that i looked for matched my budget, for one, and for two, there were too many things that needed to be done that i would have to come up with more to get it looking the way that i wanted it to. Reporter advocates say rezoning could help more americans like hemmans find affordable options. This is the first. Im the first person in my family to be a homeowner. First time. Reporter thats quite a accomplishment. It is. Reporter Homeownership Redefined and neighborhoods reshaped. For Eye On America, im Ashhar Quraishi in minneapolis. Norah its a high honor for the socalled Hidden Figures who helped the u. S. First reach the moon. That story and these amazing women next. Announcer Eye On America is sponsored by prudential. Protecting retirement and your lifes work. Whos your rock . Lifes work. Whos your rock . Into his retirement. s whats going very large community of acting students. Yes 4 years of me trying to keep up with him. Family that loves him. He taught me how to ski this year. Hes a world class teacher. Hes a chosen family member. Its not retirement, its a new chapter in life. Whats retirement . Your retirement is the sum of your lifes work. Now what . 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Norah finally, Tonights Heart of america. It was a special day here in washington as the women who contributed to Nasas Success in the Space Race were recognized with the congressional gold medal. Thats the highest civilian honor bestowed by congress. That includes the four black women who became known as the Hidden Figures katherine johnson, dorothy vaughan, mary jackson, and Aerospace Engineer Christine darden, the lone surviving member who watched from home. Their story inspired a bestselling book and an oscarnominated film. It is an honor long overdue. They are Tonights Heart of america. Gives me the goose bumps. And thats tonights Cbs Evening news. Im norah odonnell. Well see you right back here tomorrow. Good night. When he says that hes going to do something as crazy when he says hes going to do something, hes going to do it. Daniel lurie says he may be crazy to jump into politics, but hes driven by family. I want all of our kids to have that same sense of Pride And Wonder about our great city. He says it will take an outsider to fix city hall. What we see going on here is the insider. We hear the vision he wants to bring to the city for the next generation. I think were capable of so much, and were not living up to the expectations we all have for our city. All week long, we are bringing you oneonone interviews with the candidates for San Francisco mayor. Today, were talking to daniel lurie. Were going to ask him how he plans to take on San Franciscos biggest challenges. Well have that conversation in just a few minutes. But first, a look at your news headlines. San Jose Police arrested three suspects accused of trying to kill a man with machetes. Police released these mugshots as well as survei
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