jacking up interest rates, raising bar owing costs. on thursday our first look at u.s. economic growth for the second quarter, another decline in gdp is expected. of course, two quarters of a loss in a row is a sign of a recession, so are we head there had? here is the treasury secretary. the labor market is now extremely strong. we are in a period of transition in which growth is slowly. we re likely to see some slowing of job creation, but i do i don t think that that s a recession. a recession is broad-based weakness in the economy. we re not seeing that now. we re not seeing that now, but here is this from someone who used to have that job, the former treasury secretary larry somers. i think there is a very high likelihood of recession when we ve been in in kind of situation before. recession has essentially always followed when inflation has been high and unemployment has been low. soft landings represent a kind of triumph of hope over experience, i think we re v
should be subpoenaed. the russian foreign ministry has now claimed responsibility for the attack. there is a major sense of urgency around getting that grain exported to the countries most dependent on ukraine s grain exports. it s monday, july 25th. 59 a.m. here in london, 5:00 a.m. in the u.s. west coast. where millions of americans across the country are seeing the impact of the growing climate crisis. a dangerous and scorching heat wave that s already responsible for several deaths. on monday temperatures hit as high as 102 degrees fahrenheit in parts of the northeast, with several cities sweating through their hottest days ever. both boston and philadelphia have extended their heat emergencies after seeing record high temperatures, and across the country close to 50 million people are under heat alerts today, in some areas the blistering heat even led to power outages. sunday new york s electric provider says it was working to restore scattered outages, and in bo
has tripled. i can t buy clothes. can t buy for my grandchildren. you can t buy anything. plus, the january 6th committee maps out its next stage, and it releases new video showing the depth of donald trump s hesitation to condemn the capitol rioters. a pair of new warnings about china. beijing is growing more aggressive. the white house, though, worried about how beijing will react if the speaker of the house, nancy pelosi, goes ahead with a planned visit to taiwan. up first for us, a huge week for the american economy. the biden white house forcefully disputing those who believe we are tipping into recession. by week s end, we will have a better sense, a much better sense, of who is right and just what that means for your budget and the president s political standing. several key indicators out this week. tomorrow, the latest consumer confidence index. the june report was dour. wednesday, the federal reserve is to raise interest rates to tame inflation. thursday, a gl
we re clocking in the surface here over 150 degrees. relief is coming, but so are storms, causing more than 1400 flights to be canceled this weekend president biden s covid symptoms are improving significantly according to his doctor, and new information about the race to create a vaccine targeted at the omicron subvariants by this fall pope francis has landed in north america, why he s apologizing to the people of canada today. gas prices are falling. now 65 cents less than the peak one last fight, the veterans who never gave up the effort to honor their fallen brothers a new memorial open opening this week. and the stunning northern lights over the continental u.s. where you can see this amazing light show this is nbc nightly news with kate snow. good evening from coast to coast, almost all of us are dealing with it. the brutal heatwave that s lasted for days today, some 90 million americans were under severe heat alerts, with multiple states hitting rec
good evening to you, president biden continuing as he continues through covid. his main symptom his position says is a sore throat and others have diminished. his doctor because that encouraging that assigned his body is clearing the virus his voice remains bit deep but his lungs are normal and clear he has completed the third day of the anti-viral paxlovid as planned he has an inhaler and he will continue the treatment not seen the president at all this weekend and it concerns about the 79-year-old s diagnosis who white house has not made biden s position available for questions official speaking on his behalf say the president is fully vaccinated, twice boosted in experiencing a mild case. he will continue out his duty of isolation that remains through tuesday ahead of the gdp report, the white house and bracing for a second consecutive quarter of negative growth, commonly referred to as a recession but don t expect anyone in the biden administration to start using the r