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control. inflation hit 8.6% last month, the hottest inflation since 1981. the fed meets later today. fed funds futures markets are pricing in 0.75 point rate hike to curb inflation. the "wall street" journal reporting the fed is likely to make a move larger than the 50 basis point move a few days ago. a terrible day yesterday, a terrible two days. cnn's claire severe webastian i london. is there stability in europe? >> a little bit more stability today in europe and asia as they continue to sort of digest the falls that we saw those inflation fears out of the u.s. a mixed picture. as...

>> reporter: chairman bennie thompson publicly claiming the january 6th house select committee will not refer former president trump or anyone else to the justice department for criminal prosecution. >> what i prefer that we complete our work and seal that work with the department of justice. and they will make that call after that. >> reporter: even without a referral, the justice department would prosecute. but some committee members feel those comments are premature. >> we have had a discussion about that. i thought we discovered that decision until we concluded our investigation,...

the president's visit comes as his administration is facing mounting pressure following this, you know, 41-year inflation high that we're seeing and a huge surge in gas prices. the nation's national average for gas, $5.02 a gallon now. all of this as a key inflation measure slowed slightly last month. >> also this morning, the white house is now confirming that the president will be traveling to the middle east, specifically to israel and saudi arabia, in july. we're also learning his visit will include a meeting with the saudi crown prince, mohammed bin salman. remember, president b...

into bear market territory yesterday. economists predict the fed will raise interest rates again in another attempt to battle rising inflation. cnn business correspondent solomon is here with me now. this ppi report, why should people at home care about this? what's it matter for us? >> it's interesting because ppi doesn't get as much attention as the consumer price index, but it's really important because it's factory level inflation, what producers are experiencing, and we know what companies are feeling, we'll likely see a few months down the line in terms of consumer prices. even...

responsible for khashoggi's murder. she was asked several times by cnn, by a colleague of ours at "the washington post," and she wouldn't give a direct answer. >> i mean, we have spoken to this before. the president is focused on getting things done for the american people. >> the question that i asked, though, does he believe that mbs was responsible for khashoggi's death? >> the murder of jamal khashoggi was something that we and so many others around the world took very, very seriously. he issued an extensive report on khashoggi's murder. go ahead. i have already answered the ques...