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powell. taming inflation, powell warns, will require some painful let's get straight to the business correspondent. powell's warning really led to a jolt on wall street. that's a pretty significant drop. >> really spooking wall street and main street in terms of the messaging we heard here. we haven't seen a day like this in the market since mid june. every sector in the s&p closed lower today. it was a broad-based sell-off as investors parse through what the federal reserve chairman was trying on get across. he talked about the fed will not stop raising interest rates until they are...

30 minutes ago, flanked by his attorney from new york, bob costello, and as he exited the vehicle, i was able to ask him a couple of questions, including if he lied to georgia lawmakers when he appeared before them three times in the wake of the 2020 election. listen to his answers. >> mr. giuliani, when you met with georgia lawmakers, did you lie to them? >> we will not talk about this until it is over. it is a grand jury and grand juries as i recall are secret. >> do you believe president trump is the ultimate target of this investigation? >> i'm not going to comment on the grand j...

it's the top of the hour on cnn newsroom. i'm alisyn camerota. at this hour, two former lawyers for donald trump are facing the subpoena power of georgia's special grand jury looking into trump's attempts to overturn the 2020 election results in that state. right now, rudy giuliani is testifying before that grand jury after learning he is the target of their investigation. in the meantime, conservative lawyer john eastman is trying to avoid the grand jury. he has a hearing right now in new mexico to fight that subpoena. both men along with other trump advisers who have been summoned ...

soon be over but maybe not entirely. the judge says they haven't met the burden of showing why parts of the affidavit should not be disclosed. one republican congressman says he is not holding his breathe. >> it will be the most redacted thing in american history. we won't get answers until the republicans take the house back. we have the ability to ask the justice department the tough questions. >> good morning to you both. we're closely looking at the docket now in the southern district of florida. we know this affidavit is imminent and could happen at any time. noon is the deadlin...

control. the message to the markets was wow! talk about uncertainty. we knew that rates were going up. now we don't know why they're going up so aggressively and what do you see that we do not see. add it all up, all the dow 30 stocks were down. all 11 sectors that make up the s&p 500 that are a snapshot of the american economy hammered big time. again, on fears that maybe what the chairman of the federal reserve was saying today in wyoming is what he's worried about across the country. indeed the world. we're on that. but first this. blacked out but not entirely. the hely redacted t...