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historic inflation. the decision will likely produce ripple effects on your personal finances and the economy in the months to come. cnn's matthew gin et joins us. we've been awaiting this decision, what has the fed said? >> 75 basis points, the fed just delivered another massive interest rate hike, designed to put this inflation fire out. that means higher borrowing costs. this is the fourth straight interest rate hikes. this is historic. we've never seen drastic actions like this under janet yellen. we never saw this from ben bernanke, or even alan greenspan. you have to go back to...

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Raising inflation. you drive a car not by looking out the back window. that shows us a high inflation, but by looking forward, when we look forward, the fed's own forecast is seeing inflation coming down dramatically over the next year or so. not rates they're comfortable with, but hopefully over time, we will talk about inflation so much. that, i think, is part of the case for raised rates a bit, let's see how far inflation will fall. factors like ukraine, the parch, supply chain disruptions start to become less of an influence. justin wolfers, catherine rampell, and matt egan, we appreciate ...

Meanwhile, president obama right there on tape was saying i want to work with vladimir. i'll have more flexibility to cut deals with him. when medvedev settled transmit that message. pete: where is the headline from the failing "new york times," an anonymous source with headlines about conspiracy and scandal with the obama administration. there is a reset button and it was broken. abby: the story goes on. president trump suspends controversial h. one b. visa applications for the non-immigrant visa allows u.s. companies to hire foreigners in specialized fields. critics say they have been abused...