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So no story today will have a bigger impact on your life. the federal reserve wrapping up a two-day policy meeting, and it could be one of its most consequential. chief business correspondent christine romans. you assure me this is a bfd. >> big fed deal. flooded the economy from keeping the recession from becoming a recession. now it pivots to fighting inflation, running the hottest in 40 years. americans paying more for nearly everything, food, gas, car, rent, houses. we learned november producer prices jumped 9.6 from last year, the fastest we have ever seen. the fed chief called it transit...

Expected today at the earned of its two day meeting. the central bank is likely to announce it is ramping down its bond buying program even faster, ending it in march instead of june. that would clear the way for the fed to start raising interest rates from zero. the fed acknowledged inflation is no longer a transitory or temporary problem. the hope, of course, is raising interest rates will slow inflation. a key inflation gauge, the producer price index, rose 9.6% over the past year. that is the highest annual rate on record. last week another main inflation gauge showed its biggest spike in ...

Todd: for the state department saying there are fewer than one dozen american stranded in the taliban controlled country. carley: time, ridiculing the biden administration for blaming the greed of the meat conglomerates for rise in inflation. >> they are blaming everyone for this record inflation when it goes back to democratic policies. we had this pandemic for two years. we didn't have record inflation in 2020. we only had it in 2021 when democrats were in charge spending trillions of dollars. first it was oil and gas companies. now is the meat conglomerates. maybe next week it will be the e...

They will win. so just set that aside. there is something brewing within the left i want to ask you about. the squad and progressives seem to not understand what just happened in virginia and new jersey. one of the things they're saying is that if they do not cancel the student loan debt that that will be a real bummer for the party and they are saying on all the progressive issues if you don't move forward and come our way and get things done in that regard they won't help try to win in 2022. so there are problems internally that are continuing. >> they are exacerbated by the inflation situat...

Another key inflation gauge, of course, is the producer price index. ppi has seen its biggest increase since it was calculated in 2010. it rose 10% over the 12-month period ending november. if you strip out food, energy and trade services, the industry still climbs 9.6%. you can see on the screen. united airlines is joining the list of companies for what is expected to be a busy holiday season. airline predicts this holiday crunch will be even busier than the thanksgiving rush. american airlines says the return of demand for air travel has been intense. cnn's pete muntean has more on what tr...