republican nomination, donald trump is bringing in a good deal of cash, but there are questions about where all that money is going. we ll look into it. also ahead, more on the story we ve been following all week. the cocaine found at the white house, we re learning where exactly it was discovered and who had access to that area. plus, treasury secretary janet yellen kicks off high-level meetings in china with criticism of how beijing treats american companies. good morning. welcome to morning joe. it is friday, july 7th. joe and mika off this morning. with us, the host of way too early, jonathan lemire. jen palmieri. and associate editor of the washington post, eugene robinson. we re going to dive in with president defendant s co-defendant and personal aide, walt nauta. he has been arraigned on charges in the classified documents case. he pleaded not guilty in court in florida yesterday. this was the third attempt to arraign nauta, who was finally able to hire a
the military takeover there. we start in the uk, which has seen the biggest day of strike action in more than a decade, according to the unions, with up to half a million people walking out in disputes over pay, jobs and conditions. among those striking are train drivers from the aslef union impacting most train companies across england. bus drivers in london about 100,000 civil servants from over a hundred government departments. thousands of university staff from 150 universities across the uk. and teachers from the national education union. these aerial images show demonstrators marching past the bbc s headquarters in london. 0ur employment correspondent was with them nearby at whitehall. the scale of this. this is the biggest straight for more than a decade. there has been some sort of talk about, could this be the general strike? it is not that. there are unions who have decided not to strike today. it certainly could be a lot bigger. what s interesting is there are un
spending. and let s begin in washington, d.c., where the federal reserve has just announced its latest decision on interest rates. economists predicted an eighth straight rate increase as the central bank tries to tamp down inflation without causing a recession. matt egan is inside the federal reserve. what s the decision? reporter: 25 basis points, the fed just delivered its eighth straight interest rate hike, lifting interest rates to the highest level since 2007, all part of the fed s quest to get inflation back down to healthy levels. but importantly, the fed is dialing back the pace of these interest rate hikes. going from 75 basis points this past summer and this past fall to 50 basis points in december, to this more traditional move of 25 basis points today. now, this was widely expected, widely telegraphed, and yet, it is a significant strategy shift, nonetheless. the fed is still trying to slow this economy to cool off inflation, but they ve gone from slamming the
katy tur. here we are again, another fed meeting and another expected rate hike. we re going to get to the number in just a second. it is expected to be a quarter of a point. we re going to see how the markets react to that because they have been on a relative upswing and we re wondering does that trend continue? we are also watching as you well know, memphis. the funeral for 29-year-old tyre nichols is today. and supposed to begin right about now. weather has been delaying it, so we ll go there as soon as it does start. but again, there is breaking news from the fed. just confirmed, they are raising it, interest rates, by a quarter point. joining me now is nbc news business and data reporter, brian cheung. a quarter point, what can you tell us? the nation s central bank, the steward of the u.s. economy raised interest rates by .25 percentage points in their meeting today, after some encouraging news we had gotten in previous weeks that inflation was coming down. was at 6.5
at long last, kevin mccarthy is the new republican speaker of the house. but to say it didn t come easy, would be a massive understatement. mccarthy scratch out a victory in the early morning hours with just barely more than the absolute minimum support he needed. it took him 15 rounds of voting to get to the finish line. including a scuffle on the house floor on the anniversary of the january six insurrection. the contrast between the two parties has never been clearer. while republicans created new chaos at the capitol, president biden honored the men and women who protected the building and his its occupants from an angry mob just two years ago. and, while gop lawmakers bigger with one another, democratic representatives rallied around their leader, akeem jeffries. while the white house has confirmed that president biden reached out to congratulate mccarthy earlier today, the 118th congress is off to an unforgettable start. we are talking about what comes next, tonight, on