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good tuesday morning, i'm erica hill. >> and i'm jim sciutto. some major news just in on your money. new key inflation data finds that americans overall are paying less for items. still, however, some sticker shock out there. will the fed now pause its ongoing rate hikes? we're also closely watching bank crisis fears following the sudden collapse of two regional banks. markets open soon. we will look at where things stand today. plus, loyalty loss. former president trump taking his first stage in iowa since announcing his third bid for the white house, sharpening his 2024 attacks. ...

west and winter storms out east. and now, rite aid and how the drugstore is being accused of fueling the opioid epidemic. this is what we are watchingt that hour. thank you for being here, i'm kate bolduan, and we are beginning with the turmoil, the fallout, and the wild ride that has already been this week since the abrupt collapse of silicon valley bank. and the federal reserve is looking at the oversight of the bank and what went wrong and who missed what. the regional banks are bounce back after confidence of the institutions were shaken yesterday. this is how the stocks are ...

in about a year and a half, still high. >> bill: that would normally mean another rate hike on the horizon, but the fed could be forced to rethink that. >> dana: the moves are designed to protect the u.s. financial system and make sure customers do not lose their deposit. >> bill: the president insisting this is not a bailout, some folks beg to differ. >> well, it is a bailout, we give a lot of support to banks. banks pay a premium for insurance, capped at 250,000. if we change the rules and give them more coverage than anybody else gets, i think that's a bailout. >> the think you ha...

to proceed. given the biden administration has said one of the key pillars in foreign policy when presented with a choice between autocrats and democracies, they stand with democracies. can you help us understand why the secretary decided to proceed with the trips given the ban and should we expect that going forward? >> our relationship with egypt is a important strategic partnership. the secretary met with his counter parts and talked about that. i'll tell you when it came to the press coverage of that portion, having looked further into it, the egyptians lived up to what they had ...

obviously, tensions are already high between the two nations over involvement in ukraine. senior correspondent mike tobin is in kyiv tonight with the latest on this. good evening, mike. >> good evening, bret. a brazen violation of international law. that's the way the state department describes this contact between a u.s. drone and two russian fighter jets that ended with the u.s. drone being ditched in the black sea. the pentagon says for a half hour this morning two russian su-27 fighter jets harassed a u.s. mq 9 reaper drone in international fuel space. dumped fuel on it and pass ...