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Are arguing this should go to red flag laws that states actually pass. so that is another sticking point that exists. right now it's unclear whether they're going to be able to find a middle ground. they are meeting again today at 1:30 in the afternoon, but, again, they are coming up against that weekend deadline. will they be able to find legislative text agreement by the weekend? that's another question entirely, john. >> writing the legislation itself, the language itself matters so much here. lauren fox, thank you very much. so this morning if you are thinking about taking out a loan, sw...

An historic day for your money. the federal reserve ranked up interest rates by three quarter of a personal point. it is a bold move to try to cool red hot inflation, inflation that is crushing consumers and frustrating the biden administration. jerome powell says failure is not an option. inflation is distorting the american economy and hurting families. >> clearly today's 75 basis point increase is an unusually large one. and i do not expect moves of this size to be common. we at the fed understand the hardship that high inflation is causing. we're strongly committed to bringing bringing the...

This is inflationary business. and you know, here's the thing, tucker . tomorrow the fed is going to be talking about not just a 50 basis point increase in the fed pointrate but a 75 basis because jerome powell also along with joe biden totallye missed the boat. and you know, here's the thing, tucker . we're going to go through some rough times and nothings they can do about it because they set us up for this . it's it's horrible. it's a bad situation. souc in one sense we're about to see a crash in asset prices, correct? we are seeing it. we're likely to get it's likely to get worse. the real...

Now there's a concern about the fed needing to get this right. they're in the middle of this delicate dance, how to bring down inflation without driving the economy into a recession by hiking rates too many. victor? >> allison, thank you very much. joining me now is former economic adviser to president bush, also the president of the american action forum. douglas, good to see you. let's start with your reaction to this 75 basis point increase. >> i thought you could make the case for a 50 or 75-point move. the 75-point move was the plan. the fed wants to convey the message it understands the ...

We hear? me is speaking again today. what might we hear? ~ . is speaking again today. what might wehear? ., ,.,,.,_ ., is speaking again today. what might we hear? . ., , , ., ., we hear? we are probably going to hear him reiterate _ we hear? we are probably going to hear him reiterate the _ we hear? we are probably going to hear him reiterate the same i we hear? we are probably going to i hear him reiterate the same message. it took a lot of people by surprise when we heard from mr powell saying in very blunt terms that he wants to see a 25% basis point increase to interest rates and central ...