harry smith on the end of an internet era announcer: this is nbc nightly news with lester holt good evening today some tough medicine for an american economy racked by high inflation. the federal reserve raising a key interest rate 0.75% it s the biggest bump-up since 1994 a hike sure to be felt in the wallets of american borrowers. think higher mortgages rates and bigger credit card payments which we ll get into in a moment. what s it all about? the fed hopes the increase will start putting the brakes on inflation which is running at 40-year highs. gas, food, prices, you name it. it s all soaring investors liked the news today the markets rallying on the fed announcement policymakers weighing future increases while trying to steer around the risk of a recession. let s tell you what you need to know about all this starting with tom costello reporter: for days, the fed has telegraphed that it would go big today after acknowledging it should have acted sooner to rein in
overturn the 2020 election, what to expect from day three of the public hearings. plus, stock futures fall more than 1% after the fed implements the highest interest rate hike in nearly 30 years. the question is whether the move will drive down inflation without pushing the economy into a recession? and we ll have the latest from ukraine. as the united states pledges more aid, the leaders of france, germany, italy all arrived in kyiv overnight to show that europe is still committed to the fight for peace. good morning. welcome to way too early. on this thursday, june 16th. i m jonathan lemire. we appreciate you being here. the third hearing into the attack of the u.s. capitol is set for 1:00 p.m. today. it will focus on efforts to pressure former vice president mike pence into overturning the 2020 presidential election in a campaign that put the former vice president s life in danger. aides tell nbc news the hearing will hit four main themes, the theory that pence had t
so let s get down to business and we begin in the us where the world s most powerful central bank wraps up its monthly meeting later. it s a given the federal reserve will increase the cost of borrowing. the question is by how much. with recent inflation data flashing red the sentiment on wall street has been grim. on monday the s&p 500 entered a bear market after the index fell by more than 20% from january s recent high. our north america business correspondent, michelle fleury, has more from new york. this minnesota petrol station is letting customers know they share their frustration. skyrocketing fuel prices have helped drive up inflation, currently at a a0 year high. customers, our car coming up, ate her at her corolla and gets fuel and at $80, you can t know how much it hits home to people. how much it hits home to ”eole. ,, . , how much it hits home to n-eole. , . , ,, people. gas prices in the us hit a record people. gas prices in the us hit a record of people.
political processes in the years to come, long after i have left this office. i looked at my own calendar this morning as i was working on this speech. it showed exactly 1361 days remaining in my term. i want these to be the best days in america s history. god bless america, and god bless each and every one of you. central to the problems faced by president nixon is the watergate tapes and their tangled history. fred graham traces that story. it all began suddenly when an obscure former white house official named alexander butterfield appeared as a surprise witness before the senate watergate committee. are you aware of the installation of any listening devices in the oval office of the president? i was aware of listening devices, yes, sir. when i got the confirmation that there was a taping system, i was elated. they would tell much more than i could even remember about what had happened in those conversations. my mind is not a tape recorder. it does recall im
abuses are purged from our political processes. in the years to come. long after i have left this office. i looked at my own calendar this morning as i was working on this speech. it showed exactly 1,361 days remaining in my term. i want these to be the best days in america s history. god bless america. god bless each and every one of you. central to the problems faced by president nixon is the water gate tapes and tangled history. fred graham traces that story. it all began suddenly when an obscure former white house official appeared as a surprise witness before the senate watergate committee. are you aware of the installation of listening devices in the oval office of the president? i was aware of listening devices. yes, sir. when i got the confirmation there was a taping system, i was elated. they would tell much more than i could even remember about what happened in those conversations. my mind is not a tape recorder. it does recall impressions of conversat