conveniently ignoring that to our bill in fact lowers the deficit, and is completely paid for. we are watching every minute of what is happening on the senate floor. we re gonna have the latest for you in just a minute. also this hour, alex jones ordered to pay up and pay a big for his lies about sandy hook in the murder of innocent children. we are going to look at that story later had as well. we do as i said want to start in washington on capitol hill. where right now we are starting we are waiting that key vote on the inflation reduction act, a bill that has already seen some changes today as the senate parliamentarian rules that a cap on drug plate prices for the commercial market cannot be remain in the package. but some democrats are vowing to stick together in the face of what could be a challenging and very long amendment process. want to bring in nbc s giuliani strong capitol hill to talk to some of this. good to talk to you, once again julia. so bring us up to da
reporter: the federal reserve just made history announcing that they re raising interest rates by 3/4 of a percentage point for the second meeting in a row. we haven t seen anything like that in back to back meetings in modern fed history, but we re not in nor times. we re dealing with the worst inflation inflation prices in 40 years. inflation remains elevated due in part to russia s invasion of ukraine and very high food and energy prices. so the fed is stepping in and acting like the firefighter. they re trying to put this inflation fire out. the goal here is to raise borrowing costs and try to cool off red hot demand, and that should hopefully allow supply a chance to catch up. but you know, officials also signaled that they re not nearly done with rate hikes. they said it would, quote, will be appropriate to continue raising interest rates. and here s the problem. they re raising rates into an economy that is already showing cracks here. in the new statement today, the
showed up outside the event, watch. this turning point conference neo-nazis were out there in front of the conference with anti-semitic slurs. it s important that every person that attended that turning point against the flag you at the minute you knew what they were. so you are complicit. i want to make a quick clarification about the neo nazis of the turning point event. they were outside my point was more metaphorical. you embraced a midtier thing i felt. fast forward to this morning the hosts apologized before quickly cutting to commercial. watch. monday we talked about the fact there were openly neo-nazi women we want to make clear that these demonstrators were gathered outside the event in that they were not invited or endorsed by turning point usa. the turning usa said the group 100% condemns those ideologies and said turning point c garrity tried to remove the neo-nazis from the area but could not because they were on public property. also turning point
but there s also the strong data coming out of the labor market. neil: jerome powell said this even after he and his fellow fed members unanimously hiked the interest interest rates .5%. so does jerome powell know something we don t know? the official number that might prove we re in a recession doesn t come out till tomorrow morning. here s powell sounding like the president showing no such concern today. so what to make of it? we re all over it with connell mcshane on how americans don t care what they re calling it, this recession is real and they re having a devil of a time dealing with it. edward lawrence on how the fed plans to handle it. and michael moore on how if a hard landing can be avoided. welcome. i m neil cavuto. first to lawrence on the move that a lot of people expected but the reaction that many did not. edward? it s very interesting that the federal chairman saying that we re not in a recession and we can avoid a recession and taking the same talking po
subpoenaed to the grand jury two people from the white house counsel s office including the white house counsel himself, but what is standing in the way of getting all of the information that prosecutors want are claims that donald trump is trying to make about executive privilege where he s trying to protect statements that were made to him or that he said on these crucial days that are being investigated. so those claims of executive privilege, that s potentially leading to a court fight where the justice department will try to get access to those statements through these witnesses and that s what these talks are about, lining up the justice department team and trump s team, talking to one another, potentially they could be pitted against each other if this does go to court, but the big picture here is that criminal prosecutors right now are definitely interested in doing fact-finding and locking down what they can about what was said in the white house either by trump or t