Cut of half a Percentage Point on wednesday has spurred investors sending us markets into record highs. Traders cheered the Central Banks big call cutting the main Interest Rate to between 4. 75 and 5 . Opening the door with a bang on the first rates Easing Cycle in more than four years. President biden hailed the move as good news for consumers but said there was more work to be done in taming inflation. Lets be clear. The fed lowering Interest Rate is not a declaration of victory, its a declaration of victory, its a declaration of victory, its a declaration of progress. Its a Signal Weve entered a new phase for a colony and are recovery. I believe its important for the country to recognise this process because we dont, the progress we made will remain locked in the fear of negative mindset dominating our economic outlook since the pandemic began. Fed officials have made it clear that this cut was only the beginning and investors seem to have liked what they heard. For more, lets get
did someone tamper with the tapes? plus, senator manchin on the debt ceiling, biden s re-election. that interview is coming up. who was behind the drones the kremlin say were sent to kill putin? let s go outfront. good evening. i m pamela brown in for erin burnett. breaking news, tapes at mar-a-lago. special counsel jack smith is now asking questions about the handling of surveillance tapes from trump s home in florida. whether the tapes could have been tampered with. smith of course is leading the criminal investigation into trump s handling of classified documents. they want to hear from one or two executives. they re said to know a lot about mar-a-lago s inner workings. trump went on fox news to boasts about the tapes he handed over to prosecutors. they raided mar-a-lago. vicious ly raided mar-a-lago. i have tape, i gave them tapes. i gave it to them. i could have held that back. i gave them tape. but you know the tape they don t want me to reveal, if possible,
through a period of high inflation like this one. it s painful. paychecks are not going as far. if you adjust wages for inflation, they re getting smaller. the president is right to call out the fact that this report does not capture the fact that gasoline prices have started to cool off. the national average is 4.63 a gallon. down 40 cents from the record high. two things to remember here, one, it s not like prices at the pump are cheap. no one is doing a victory dance about $4.60 gas, and ftho, this is not just about prices at the pump. it s about food. housing prices. there were record price spikes last month from beer, to cleaning products, men s suits as well. this is an economy wide problem, and unfortunately it s getting worse. how come you didn t mention me for hair cucuts. yeah, why not? no reason. there was no reason. okay. does this raise the risk. it does. the federal reserve is going to be under more pressure to step up the war on inflation. step in l
on the factions of former president trump. key witnesses include two top aides of former vice president mike pence who were asked specifically about the fake elector scheme and the role the lawyers played. washington post reporting that investigators have emails and phone records of key officials and aides who served in the trump white house, including former chief of staff mark meadows. so until now there was almost no sign that the federal investigation had touched on the actions of the president himself. that is what makes these reports so significant. it changes the entire framing of what we know that the federal government, the department of justice, is doing here. and it comes at the same time that the new york times has this new report about so-called fake elector scheme, previously undisclosed emails that reveal trump advisers actually use the word fake. joining us now is david loughlin, former senior justice department official and former prosecutor, also rep