Impeachment threat. Some House Republicans say an inquiry into the biden Family Business dealings is overdo. Now the Biden Campaign is pushing back. Well take you live to the white house in a few moments where a News Briefing should start soon. Inflation acceleration. It ticks up for a second straight month. Bu but dig into the numbers and there is reason for hope. What it means for the feds upcoming Interest Rate decision. The nightmare is over and an escaped killer is in cuffs. The twoweek man hunt ends with a swarm of Law Enforcement surrounding Danelo Cavalcante. How did he evade hundreds of officers for so long . Were following these major developing stories and many more all coming in right here to cnn news central. So were Just Moments Away from the First White HouseBriefing SinceKevin Mccarthy announced an Impeachment Inquiry into President Biden. The move comes at a crucial moment in the political calendar. The intense polarization in washington is about to get supercharged. Congress has less than three weeks to avert a government shutdown. But the Republicans Biden Probe is further inflamed intentions. The white house is fighting back and the Biden Campaign is fundraising off the move. As republicans are divided. Some think this is a distraction while others believe the House Speaker has not gone far enough. Mccarthy held a meeting with the Republican Caucus this morning trying to get everyone on the same page. Lets get you all angles of the story starting at the white house and the on capitol hill. What should we expect from this White House Briefing . We know that the White House Briefing, the press secretary, will be joined by the National Security spokesman admiral john kirby and the chief economist. Theyre expected to talk about the meeting taking place between Vladimir Putin and kim jongun and bernstein is expected to talk about perhaps Inflation Numbers which have been seen rising for two months in a row after softening over the summer. The fact that the white house is talking about inflation and geopolitics at a time in this Impeachment Inquiry is reaching a fever pitch, tells you how much they dont want to talk about that, even as the white house has been actively shifting from defensive mode, which its been in for the better part of two years, preparing battening down the hatches, as republicans ramped up their oversight and investigations, and are now looking to shift into offense mode with the white houses spokesman on investigations calling this inquiry illegitimate. Heres what he said. I think republicans over the last year, republicans in congress, have proven that these sorts of poking around inquiries are nothing but a wild goose chase that are illegitimate. I dont want to speculate on what the House Republicans may or may not ask for. They wont vote for it and they cant say what theyre impeaching him for. The messaging that is being distilled right now is that the inquiry into the president and the business dealings of his son is illegitimate. The white house believes that the inquiry into former President Donald Trump and the legal battles that shes facing are legitimate. That argument has been distilled in the Biden Campaigns latest fundraising pitch. Well see how much it can bring in and what happens in the briefing set to begin momentarily. We know youll keep an eye on that. What do we know about the meeting that Kevin Mccarthy is having with republicans today and about the game plan for them moving forward . Yes, they are starting to plot out their next steps in this Impeachment Inquiry. It was discussed today in that Conference Meeting and afterwards, james comer, the head of the House Oversight committee, announced that theyre going to hold a hearing this month to lay out where their investigation stands into the biden family. But at the same time, they have not yet proven the allegations that biden directly profited off his sons business deals or he made Business Decisions because of them. There is a messaging effort under way right now. Comber and jim jordan are Briefing Senate republicans during their lunch today. Theyre going to brief House Republicans tomorrow. And even though there is a lot of support for Kevin Mccarthys move here within the house gop, theres still some skepticism in the ranks. Lets take a listen. Certainly didnt help democrats. I mean, you know, i havent seen anybody do too well after an impeachment process. Didnt do well for us in 98 with president clinton. I dont see it as good politics. I do think theres enough stuff here that it deserves to be looked at. I think we need to be balanced in this approach. I dont think that impeachment ought to be used as a Political Tool or a weapon. I think we need to be on a quest for facts. I think its long overdo. The people in my district have had enough. I think we should have impeached him a long time. The last comment you heard there was from Tony Gonzalez who represents a swing district. That support is notable there. As far as a time line, there is a general sense in the gop that they do not want this dragging into an Election Year and thats why mccarthy told his members today that he wants to move as quickly as possible. Yeah, the timing also important, melanie, because the backdrop of all of this is the spending fight, government funding ends on september 30th. Well keep an eye on that. Thank you so much. Jim . Lets take a closer look at Speaker Mccarthy allegations of President Biden and the facts. Here to walk us through with the facts, lets begin with claim number one from mccarthy. Have a listen. We know that Bank Records Show that nearly 20 million in payments were directed to the biden Family Members and associates through various shell companies. 20 million, various shell companies. What are the facts. I think its important to take a closer look at the specific language that Speaker Mccarthy is using here. He said biden Family Members and associates. Republicans, like everyone else in the world, have not presented any evidence and not found any evidence that joe biden himself got any of this money. And we can disentangle this language further. He didnt say 20 million to biden Family Members. He said 20 million to biden Family Members and associate. A Washington Post analysis found that the majority of that money went to these associates. Not even hunter biden, but people outside the family. Two steps removed if not more from the president whonchts are those associates. Theyre various people. Hunter biden business partners, people who dont have much of a public reputation. But not only not the president , but some of it not to his son. Lets go to claim number two from mccarthy about an fbi informant. Even a trusted fbi informant has alleged a bribe to the biden family. Trusted fbi informant alleged a bribe. What are the facts. It leaves out critical context. It is true, jim, that in 2020, an informant whom the fbi had deemed credible did allege that in 2016, a ukrainian businessman had made the claim that he had given 25 million payments to the biden. Three years later, nobody had presented any proof that the bribe actually occurred is true. The fbi said the informant couldnt offer an opinion about the veracity of the claim. Devon archer testified that he was not aware of any such payment. He characterized the claim as a typical example of a ukrainian Business People touting. Mccarthy claims that biden participated in dinners with his sons business partners. Eyewitnesses have testified that the president joined on multiple phone calls and had multiple interactions, dinners resulted in cars and millions of dollars into his sons and his sons business partners. On the calls, what did joe biden on these calls . Yeah, thats the critical context that Speaker Mccarthy left out. Devon archer testified that about 20 times over a number of years, joe biden was put on speakerphone in calls with hunter biden, but archer also testified that joe bidens contributions were superficial. That hed asked his son things like whats the weather where youre like, how is the fishing, how are you doing. Archer testified he never heard joe biden discuss business and so this is the pattern. Mccarthy is making these claims without demonstrating any evidence that joe biden did anything in office to help his sons business, that joe biden personally profited from his sons business, that joe biden took steps to get his son the money. Hunter biden did receive a Wire Transfer from a foreign businessman that he used to buy a fancy car. Did receive millions of other dollars. But, again, thats hunter biden. These claims have been out here for some time with both the republican party, lawmakers, and the fbi, Justice Department with time. In some cases, years time to investigate, to find evidence they have not presented any such evidence . They have not. And, you know, theyve launched this Impeachment Inquiry. Theyve had Subpoena Power for awhile now. Of course, the investigation is ongoing. But none of this evidence has appeared to date. Thats why we do the facts. Thanks so much. Its the stubborn thorn in the side of the american economy. The key measure of inflation, the Consumer Price index coming in rising 3. 7 august. That is slightly higher than the 3. 6 that economists had been expecting and it is just over half a percent increase from july which is the biggest monthly rise of the year. Rising energy prices, fueling most of the jump here. G gasoline surging 10. 5 . It sounds small but it makes up a third of the cpi weighting here. There was one bright shot and that is used cars and truck prices which im sure you noticed have been getting a little out of control. That dropped 1. 2 . Markets not really too phased by it all. Lets discuss this with a professor of economics and Public Policy at the university of michigan. Justin, these latest numbers, they show Inflation Pressures are subsiding, but you have this high housing and the gas prices, theyre still making it feel pretty tough. Is this why President Bidens economic message is not resonating with the public as much as he would hope that it would. Well, its a funny thing. Todays Inflations Numbers in fact, a lot of good news hiding under a cloak of bad news. Heres the bad news, the bad news is the prices had been rising quickly for the past couple of years. But when you get to Turning Points in the economy, its important to be looking at the fresh estate, whats happening in the recent months. When you say Inflation Rose at 3. 7 over the past year, that tells us a lot about what was happening six months ago, nine months ago, 12 months ago. Lets focus on the past three months. I remember three months ago, we talked about it. We got a good, low number. Last month, we got another good low number and a good low number today and so if you put those three numbers together, theres a lot of cause for optimism. In fact, core cpi over the past three months has risen an annual rate of 2. 5 which is remarkably lower than the rates we had been seeing earlier. I think people are just a little fatigued and thats coming through here. We mentioned housing here. I think what a lot of people are wondering, theyre saying, okay, these mortgage rates, theyre really high right now. Are they going to go down in a couple of years . Or is maybe what they thought was their starter home, should they be thinking about that as their longer term home, their forever home, maybe, what do you think . Theres two really important things to think or three important things to think about with housing. One, what can you afford depends a lot on your wages. Weve seen wage growth start to outstrip inflation over the past couple of months. If that kicks up, thats going to help people. Two, theres how much interest do you have to pay your banks. Interest rates right now really are dramatically higher than weve seen in quite a long time. A lot of that has to do with the fed and hopefully once we get inflation under control the fed can take its foot off that break and let Interest Rates fall a little bit more. But the third thing that matters is how much does the house itself cost. House prices rose dramatically in the postpandemic period. House prices have come down. House price growth has come down quite a bit and its flat lining and its one of the important factors thats going to continue to mute or dampen down Cost Of Living pressures over the next year. That is good news. What are you looking for at the feds meeting next week . I think theyve signaled that unless we got really bad news today, were going to take september as a time to have a look, have a think and do nothing. We can argue about whether todays data was good news or merely expected. But its certainly not going to move them to raise rates further. The much bigger question is whether theyre going to raise rates in december, perhaps in november and how long theyre going to leave them there. But for the time being, i think no further rate rise coming in the short run. That is music to our ears, professor. Thank you so much for being with us today. Pleasure. Boris . Still to come, an intense Man Hunt Spread over two weeks with hundreds of Law Enforcement officers in pursuit. Finally they captured a convicted killer. How it all went down in pennsylvania. Plus, a rare summit and a pledge of support. North Koreas Kim Jongun endorsing Vladimir Putins war in ukraine. The two sides looking to strengthen ties. We have new details on that. It has the power to transform the world for better or destroy it. Why the nations top tech titans are meeting in one room on capitol hill today. Well take you there in just moments. Stay with us. Get help with j. P morgan personal a advisors. Hey, david ready y to get started . Work with advisors who create a plan with you, and help you find the right investments. So great getting to know you, lets take a look at your new investment plan. Ok, great this should have you moving in the right direction. Thanks jen. Get ongoing advice; and manage your investments in the chase mobile app. Automatically responds to snoring. So, no more hiding under your pillow. 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